Sales or Business Development?

 

Since we mostly serve and work with professional service companies, the question of what to call sales people comes up often.  Many times I'm quick to point out that I'm not fond of the title, Business Development or when people shorten it to Biz Dev.   I feel that being a sales person is one of the most rewarding, yet difficult jobs in an organization and while business development is vital, many of the skills needed there are more basic or even somewhat inherent.  There was a time, a long, long time ago when I, like many folks had a poor view of salespeople.  As a matter of fact, I often expressed my severe dislike for sales people. How foolish did I feel when I learned that I didn't actually dislike sales people...I only disliked the bad ones!  Go figure.

 

I'll bet many of you can relate to what I just said. I hope like me, you've become enlightened or you just started out a lot smarter.  If your title is Business Development and you cling to that for one of two reasons: your firm insists on it or you hate to be called a salesperson because you think it's somewhat degrading; I hope you'll give some thoughts to why you might want to act like a sales person even if you don't use the title. The way I see it, everyone in an organization should have some skin in the "getting business" part of the business. Everyone should go to sleep thinking about how to make their organization better and wake up in the morning ready to go, but sales people are solely responsible for bringing in clients and their money. That's a big responsibility and that's why they get and deserve the big bucks.

 

Today's conversation with you stems from the fact that we are looking for a highly experienced salesperson for our banking software product YouConnect as well as our other software products geared specifically for the commercial real estate industry. So as I started to write this newsletter I decided I should share with you what I'm looking for and it might help you put some definition around your own position or help you add the right people to your team the next time the need comes up. Of course if you think you might be a good fit for us or you know someone else who might be, that would be pretty cool too.

 

The right person for this position does not need to have any technical expertise, they just have to love the idea of making things work better by having systemized processes in place and be really comfortable with introducing our company and software at a high level within commercial real estate organizations and financial institutions. 

 

Here's a short profile in no particular order of the right sales person for us... 

• Terrific at building trust
• Good at active listening because they are great at asking questions
• Extremely likeable
• Can bring a list of 30 potential prospects or prospect types to an interview
• Made at least $80,000 last year
• Can take a bank President, Credit Manager, Company owner or CEO for drinks or dinner to learn about their business
• Loves to work on commission. (even though I pay a $40,000 to $50,000 base)
• Always learning about their product and the industry - they are curious knowledge giants
• Understands that just as 1% of all people hold 50%  of the US's wealth, 4% of salespeople sell 94% of all goods and services and they believe they are in the top 4%
• Loves to solve problems
• Has strong perseverance because a typical sale takes an average of 12 (a dozen!) points of connections
• Has a process for how they sell
• Is a self-motivated "hunter" type salesperson

So there you have it. I hope the items on this list help you better define your skills as a salesperson or the skills you need when hiring one.

 

Over the years, I've had the opportunity to personally put years and thousands of dollars into becoming a better salesperson myself and have had the opportunity to work with some of the best.  I have nothing but the highest respect for good salespeople.

   

If you would like to join our blog discussion click here  or I welcome your feedback through email.  

 

Bandana's Bar-B-Q operates 31 locations throughout IA, IL and MO. The chain of barbeque restaurants, offering ribs, pork, chicken and turkey, prefers to occupy spaces of 5,000 sq.ft. in freestanding locations. Plans call for eight openings throughout the existing markets during the coming 18 months. Typical leases run five years. Preferred demographics include a population of 125,000 within five miles earning $60,000 as the average household income. The company is franchising. For more information, contact Jay Mihulka, Bandana's Bar-B-Q, 16141 Swingley Bridge Road, Suite 205, Chesterfield, MO 63017

 

Slumberland, Inc. trades as Slumberland Furniture and Slumberland Clearance Centers at 122 locations throughout IA, IL, IN, KS, MI, MN, MO, MT, ND, NE, SD and WI. The stores, offering furniture items and featuring specialty mattress departments, occupy spaces of 25,000 sq.ft. to 40,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets, excluding the Chicago, IL, KY and MI markets, and in addition to TN and WY during the coming 18 months. The company is franchising and expansion is through both corporate stores and franchisees. For more information, contact Michael Larson, Slumberland, Inc., 3060 Centerville Road, Little Canada, MN 55117

 

Bruegger's Enterprises trades as Bruegger's Bagel Bakery at 303 locations throughout 27 states nationwide, as well as in DC and Canada. The bagel shops occupy spaces of 1,800 sq.ft. to 2,200 sq.ft. in power and strip centers as well as freestanding and urban/downtown locations. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run five years with three, five-year options. Preferred cotenants include upscale grocery stores, apparel retailers and coffee shops. Preferred demographics include a population of 20,000 within two miles earning $50,000 as the median household income. Major competitors include Einsteins Bros., Panera Bread and Au Bon Pain. The company is franchising. For more information, contact Joe Weith, Bruegger's Enterprises, 159 Bank Street, Burlington, VT 05402-0374