Business and Economic Outlook 2010
In order to accurately plan for sales expansion in 2010, it’s important to have an understanding of the economic and marketplace issues. One of the most informative events that I attended last year was the Business and Economic Outlook Symposium sponsored by Allied Executives. Therefore, it’s with anticipation that I’ll be attending again this year. There’s a strong moderator, John Palen. Here’s are some of the panelist’s I’m looking forward to learning from (see below). If you’d like to attend, let me know.
- Narayana Kocherlakota, President of Federal Reserve Bank of Minneapolis
- Dean Bachelor, CEO of Platinum Group
- Al Gerhardt, COO fo Kraus-Anderson Construction
- Elliot Jaffee, Twin Cities Market President, US Bank
- Michael Lacy, President of Digineer
- Cary Musech, Managing Principle, Tonka Bay Partners
Sales Leadership in Turbulent Times: Who will Survive and who will Thrive?
I’m honored to be jointly conducting a Top Sales Experts masterclass with Steven Rosen of Star Results. Steven works extensively with the pharmaceutical industry in Canada. Here’s a short description of “Sales Leadership in Turbulent Times: Who will Survive and who will Thrive” and what we’ll be covering:
Sales leaders are ultimately responsible for meeting sales and profitability targets. Your leadership style has a direct impact on the performance of your sales organization. With many sales forces operating below their potential we examine different leadership styles and their impact on the performance and effectiveness of the sales team.
Sales Leaders will learn:
- Different leadership styles and their impact on performance
- How you can transform your team into a high performance machine
- 5 Steps to evolving your culture to deliver high performance
Those who attend you will receive a complimentary copy of “The New Sales Leadership Paradigm: Coaching for High Performance.” I’ve read it and it’s excellent, examining the difference between the old, ineffective management-leadership methods (transactional) and the newer, more empowering methods (transformational leadership)
Plus, I’m including a chapter from my newest eBook that will be launched mid-March, “Seven Paradoxes for the Transformational Leader.” Here’s a sampling of some of the the paradoxes I’ve written some in recent blog postings:
- The First Shall be Last–Even in Sales Management
- To Lead, Manager Must Serve – referring to Servant Leadership
- The Source of the Sales Problem May Be In the Roots
- Leadership Paradoxes Poem (Revised)
- Leadership Paradoxes Poem
The Owners’ Impact on Sales Effectiveness
I recently attended a seminar sponsored by EBITDA Parnters and Olsen Thielen, “Chosing Power Over Control: A Guide for Entrepreneurs In Transition,” by Cary Tutelman. The principles
outlined by Tutleman are important as they often have a direct impact on the effectiveness of not only the management team, but also the sales team.
If owners don’t describe their values, those basic principles that drive planning, decision making and behavior,(and include this in their strategic sales plans) i.e.
- ethics, doing the right thing;
- culture, acting the right way;
- sales performance, how well I must do; and
- accountability, defining “being on the hook,”‘
how do the sales teams, know the “rules of the game”?
If owners don’t know and/or won’t describe their needs,what they need now or have now and do not want to give up, how does management know what the best information is to gather and provide?
If owners don’t know or don’t clearly articulate their goals and sales strategy, what they want both short term and long term, how do the sales managers know what revenue and margin goals to shoot for or how to measure their success?
If owners can’t work together or don’t know how they will work together, they often send conflicting messages to the entire company, salespeople included. Any conflict can derail, de-energize and defocus salespeople, making any sales planning ineffective.
Leadership Lesson: I highly recommend both owners and managers read Balance Point: New Ways Owners Can Use Boards as it has a direct impact on both short term and long term sales effectiveness.
Sales Coaching: Teach Sales to Think Like Enterprise Builders
In a recent publication of Investors Business Daily, I read an article entitled, “Teach Workers to Think Like Enterprise Builders” by Morey Stettner (who’s also written, Skills for New Managers) that caught my attention. 
The article was written to entrepreneurs about how to create a healthy growth culture However, the article could have been written for anyone concerned about their sales effectiveness. The title could have read, “ Coach Sales people to Think Like Enterprise Builders.” Here are some bits of wise advice from Morey that are applicable in all our sales organizations:
“If you want everyone (on your sales staff) to adopt an entrepreneurial mindset, provide ample opportunity for free flowing dialogue and idea-sharing.”
“Entrepreneurs (including sales leaders) need to be curious with their people. Lean back and listen after you ask a question.”
“When facing a key business decision, don’t make it in a vacuum. Gather workers (sales people) at all levels….and welcome their input.”
“To unclog communication channels across departments, reward collaboration among different parts of the business.”
The Sales Lesson: Sales leadership must, through coaching, encourage and reward innovative thinking. Make it part of your sales incentive plan.
The Sales Question: What can I, as sales leader, do to promote disciplined innovation in my sales team?
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