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JANUARY 2007
Wise Decisions that Will Impact 07
What will make this year a success? Selling technology isn't an easy business; however, chances of success are increased when you keep you guiding principles in front of you. Here are some points on financial success that may keep you out of trouble.
1. How does Greed Impact Sales Performance
I hear sales managers say "Greed is Good", as they look for ways to motivate their sales force. In fact greed destroys the reputation of your organization as it drives sales people to make unwise decisions. Jim Collins, author of Good to Great, points out that people with strong character work hard and demonstrate the qualities that your clients need to see. How do you want companies to view your organization? Hire people with strong character and work ethic and they will exceed the goals of your company while winning the loyalty of your clients.
2. Avoid Debt
Long term debt is a symptom of unwise decisions. It results in increased pressure, loss of sleep, and a change in values. When financial pressure is the driving force, decisions are forced - often in the wrong direction. Debt often results from greed, poor decisions, failed initiatives, and impatience.
3. Avoid "Get Rich Quick" Schemes
Programs and new products that promise easy money don't work. Expanding your business into risky areas, taking on unrelated new product lines, hiring superstar employees for big money, and "easy to implement" managed service programs are all traps. This business takes planning, hard work, wise decisions, and consistent execution. People are buying technology - profitability depends on a strong financial model, a passion for technology areas that matter, and experience that delivers excellent results.
4. Focus on the the Right Things
Remember, Economic buyers buy four things; ROI, Operational Efficiency, Competitive advantage, and Risk Mitigation. If your company doesn't understand how to drive value in one or more of these areas, chances are your profits are suffering and new client acquisition is weak. Strengthen these areas and sell to the people who buy. |
