Do sales skills matter?
The answer is: Yes. So why won't most individuals desire to be sales professionals? One of the most despised occupations is sales, which has one of the worst jobs. But I also think it's a highly compensated ability for very entrepreneurs. I want to share my understanding and the principles that every marketer and entrepreneur must know to boost their revenue. Let me explain the distinction between self-discipline and discipline. In psychology, the phrase "locus of control" is used.
While discipline imposed by others places the locus of control outside the person, self-discipline places the locus of control inside the person. It is important to comprehend the three pillars: Analysis, Mindset, and Collecting 100 NO. Here we go: First, analysis is essential to increasing your revenue and profits. Here, I'm referring to a self-analysis that uses the SWOT analysis tools and TOWS matrix or strategy.
Take a piece of paper, divide it into equal sections, and then proceed as instructed. Write your Strengths in the top left-hand corner. Write your Weakness in the top right-hand corner. Write your Opportunities at the bottom of the left side. Write your Threat at the bottom, on the right-hand side. The majority of experts perform this analysis; however, I would like to add the second most crucial step that enables you to get useful results.
That is the TOWS strategy or the action plan. By doing this, you can better understand the strategic options available to you. (Remember that figuring out how to "win" in business and sales is the art of "strategy.") It assists you in posing and responding to the following queries:
Think about how you can leverage each combination of internal and external environmental aspects to produce effective strategic options:
Strengths and Opportunities (SO):
The strategies that make the most of advantages by leveraging strengths. It is also called The Maxi-Maxi or Attacking Strategy. one question you must ask How can you best utilize your skills to grab these chances?
Strengths and Threats (ST):
The strategies that leverage advantages to reduce dangers. It is also called The Maxi-Mini Strategy. In this quadrant, you must ask How can you apply your advantages to battle off present and future dangers?
Weaknesses and Opportunities (WO):
The strategies that leverage opportunities while minimizing limitations. It is also called the Mini-Maxi Strategy. In this quadrant, you must ask How can you make the most of your opportunities to overcome your weaknesses?
Weaknesses and Threats (WT):
The strategies that reduce threats and eliminate weaknesses. It is also called the Mini-Mini or defensive Strategy. In this quadrant, you must ask how can you reduce your weaknesses and prevent dangers.
If your understanding of your numbers is clear, the following step of market analysis allows you to concentrate on your objective. Sales professionals are familiar with the abbreviations TAM SAM SOM, which stand for Total Addressable Market, Serviceable Addressable Market, and Serviceable Obtainable Market, respectively.
These phrases refer to indicators that aid companies in defining the clientele and revenue prospects in their market.
TAM (Total Addressable Market)
TAM, or Total Addressable Market, is the initial and most inclusive of the three measures (sometimes Total Available Market). The total addressable market, or TAM, is the largest possible market or amount of potential income that a company can hope to realize from its product or service.
SAM (Serviceable Addressable Market)
SAM, standing for Serviceable Addressable Market, comes next (sometimes Serviceable Available Market). SAM is a portion of the Total Addressable Market that is determined by the market segments that your product falls into. The size of the market segment that your product and business model may serve is indicated by the Serviceable Addressable Market.
SOM (Serviceable Obtainable Market)
The SOM is the final metric to consider. Serviceable Obtainable Market, or SOM, is a practical assessment of the market share that a company may likely win over in the ensuing three to five years. Businesses must consider the competition, marketing plans, pricing tactics, and numerous other factors while calculating the SOM.
2nd Pillar is Mindset.
Serving with an attitude of Seva Paramo Dharma would increase your client retention rate.
Just think about the ease with which your most recent purchase has made your life. Your life can be a little harder than it is now if their salesperson doesn't encourage you to buy that good and service.
The product or service may be anything that makes your life simpler, including your laptop, cell phone, or internet connection. Don't start the initial call by pitching your sales and services.
Understand your client's requirements and requirements and note them in your notebook.
Consult the consumer to find a solution to their issue. I'll leave you with my personal favorite finally.
Collecting the 100 NO per day. This way of thinking is based on the law of failure. You must be familiar with the Pareto principle, the 80:20 rule, and the law of the vital few. Create a list of your prospective consumers and start a conversation with them about your company, its products, or its services. The best platform in the world is LinkedIn, I strongly advise you to use it if you don't know many people or if your list of potential customers isn't very long.
Connect me on social media, particularly LinkedIn, so that I can improve your life further.
LinkedIn: linkedin.com/in/amit-dubey-khass
YouTube: https://www.youtube.com/channel/UCHawRrEcjDmKmYXBswhXBXA