Abundance, Optimism and Power Hours

Each spring (is it finally here?) we take a good look at the state of our motivation.  How are we feeling about ourselves and the business climate right now?  Scarcity and Fear are in the news as usual.  The job of the newscaster is to keep us tuned in to the negative and they’re really quite good at it!  Listen for the hysterics in the voices of the announcers – we’re waiting for someone to exclaim after each story: “and thousands will perish!” As sales professionals, we’re all faced with pressures from a variety of sources: our companies, bosses, prospects, clients and even our internal drive to earn an exceptional living supporting our families and communities.  One of the terms we like to use when working with sales professionals is “Options”.  Being effective in sales creates more “Options” in your life – options for creation of wealth, for personal fulfillment and spiritual development.

Let’s start from the opposite of Scarcity and Fear.  How about Abundance and Optimism?  Sounds better already!

The reality is that we work in a gigantic economic machine with an unlimited supply of potential clients and opportunities.  We simply cannot get to them all!  Our economic machine is larger than we are capable of imagining – what’s a trillion anyway?  And we produce over seventeen of them – something like that.

As tangible evidence of abundance; ask yourself:

* What is the total amount of revenue available in your market?  One of our clients is in a market with revenue potential of over $60 Billion and that’s just one product line!
* How about the revenue available within thirty miles of your office?  We recently estimated the agency commission available in a modest-sized town is over $14 Million.  What about those major metropolitan areas?  $100 Million+?

* How much of that market do you have now?  How much do we NOT have?  What is your estimated market share percentage?  It’s probably in the single digits.

* What opportunities for revenue and profit might be available within your specialty?

This is good news!  It means that you do not have over 90% of the available market – an unlimited supply of prospects that buy what you sell and buy repeatedly.  They just don’t buy from you yet!

And now for a practical idea that’s getting a lot of traction with our clients: “Power Hours”

Here’s how it works, block the calendar simultaneously for your entire team – and yes, this includes owners and managers at all levels – no aloof observers please. Starting from what might be possible; can the entire team be focused on making outbound contacts for one hour per week? That’s together as a team.

Make this real simple: “Each Thursday from 10:00 to 11:00 a.m., we’re having an enterprise wide power hour of contacting our prospects, clients, lead sources, agents, brokers, wholesalers, distributors, etc.”

Before you ask: what do you consider as a contact?  We’ve become more liberal in our advancing years and will accept out bound contacts that include phone calls, emails, faxes, text messages, communication via any means of social media and even walking in.  We’re thinking about accepting contact by telepathy but we’re not there yet.

An extension of this idea is to have a “Theme for the Month”.  For example, for April, let’s just contact accounts that we lost or unsuccessfully proposed during the second half of 2013. Should we go back after them?  For May, hey, it’s Referral Harvesting month – everyone working on the same theme and perfecting the referral asking dialogue across the board within your firm.

The power hour is not a substitute for the routine contacts already underway; this is an “all hands” project that will result in new sales, better retention, early warnings of existing accounts in jeopardy, renewing old relationships and strengthening new ones.  Hey, it might even improve morale and create camaraderie within your firm – who couldn’t use more of that?

We promise you; start now and by the summer you will think that you invented Power Hours.  Make this a new routine.

Spring is the season of renewal, hope and possibility.  Instead of letting scarcity and fear drive your sense of competition and your life, let your inner sense of abundance and optimism take over — why not work from there?  And Power Hours will help.

There really is an unlimited supply.

…and a sense of humor is helpful.

Sales Coach Newsletter is a product of Redmond Group, Inc.  We are specialists in the systematic process of developing and retaining new business.  We design sales and retention process maps and unique measurement tools to track progress to meet business objectives.  We conduct Advanced Sales in-house workshops, webinars supported by individual and sales team coaching.
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