Through my many years of business and business negotiations, I understand contracts and NDA’s are vital for participating in any potential business transaction. The most reputable businesses see more contracts occurring at the end of the business cycle, as opposed to NDAs at any point in the customer/vendor transaction.
Jim Collins’ book Good to Great has been well read and well sighted for many years. The insight this book has brought to the business world has been well documented however, many companies don’t embrace some of the concepts this book has brought to light by countless years of studying “great” or highly successful companies.
As we come off another very successful NPA Expo it is obvious that understanding why planning, leadership, and focus make a big difference in any business. In business, it all starts with a goal and a brand promise. At Data Age/PawnMaster it is simple, treat them like family and put our clients in the best possible position for success.
Many industries are very dynamic and find themselves consistently presented with challenges on every level. Our industry is no different. Once the mantra and goals have been set and validated by the market, planning then comes front and center. Many firms fall very short of the mark here and easily go astray by focusing only on themselves and losing sight of their customers. They are more concerned with industry posturing and build a fragile shell of a business to then position for acquisition. Again, losing focus on the customer. Once you’ve determined your plan, staying the course and executing is the most important and by far the hardest thing to achieve. Execution of great ideas and solid game planning for many fall very short.
Believe it or not, whether you work inside sales our outside sales, we are all public speakers. Every time you get on the telephone you are speaking to the public. It is important you understand how best to do this. The first step is to make sure you are prepared before every call. You have a window of about 30-90 seconds when speaking to someone for the first time over the telephone.
“Where is here?” you ask? Florida! More specifically the I-4 corridor. Even more specifically, the Tampa Bay, Clearwater and St. Petersburg areas to be exact. We are very fortunate to be located in the heart of one of the fastest growing technology regions in the country. What does this do for Data Age? It enables us to tap into a pipeline of nearly 10 million workers, 12 public universities, numerous private colleges and universities, and a robust network of technical institutions, which equates to hundreds of campuses across the state. This in turn allows us the opportunity to bring in some of the best talent available to help us continue our position as the #1 provider of software in our space.
As we know the two emotions that are present for the in every sales opportunity is fear and greed. These are very powerful and occur at their own unique times in the sales cycle for customers. Sales people have their own emotions they have to contend with as well. Fear and Anxiety for a sales rep can become a real issue if not addressed swiftly. One sure way to attack any fear or anxiety of losing a deal is to prepare. Preparation, especially in the qualification/needs assessment stage of the opportunity can retrain your focus on the deal itself, and the customers’ needs as opposed to the win/lose crunch. Quotas will always be part of our trade we can’t get around this. Some would say they hating losing as much as they love winning. Having focus on the opportunity at hand and executing to the basics you have trained on for years will always temper any fear and will always place you in a position to win. Making sure you navigate through each step in your sales process will always ensure you get close to the opportunity. By doing all of this, you should have an opportunity to continue to qualify the opportunity forward and win or qualify the opportunity out and punt, which is some cases is just as good as a win. Address your fears and worries swiftly and don’t allow to get you in a vice grip.
Few would argue that we live and do business in a fast-paced world. Technological advancements and our global economy have created a modern society filled with services and products designed for speed: fast food, same-day delivery, instant messaging, on-demand media, even skip-the-line fast-passes at amusement parks. The list goes on and on.
The NPA Expo is always a nice event to go. We always enjoy the quality face time with so many loyal clients. Our industry is somewhat under siege and everyone has a great deal at stake. Long term family businesses, the industry juggernauts, the smaller operators and the new folks coming into the business find themselves in some uncharted waters. Compliance regulations have always been front and center, but this year sees some real challenges coming down the pike. I am always amazed at the folks who drive this industry. You all stay positive, upbeat and continue the fight. I can’t put into words the respect I have for all of you. This year has also seen some volatility. Some planned and some unplanned in the vendor space. I applaud you all in the manner in which you handled these changes and still keep your upbeat fighting spirits.
In sales or in marketing, it is always better to have someone else do the talking for you in your efforts to position and promote your product or company. Having people similar to your prospective customer you are working with who talk about your product/company is very powerful. Not only will it help your efforts but it is also very helpful for your prospect. Having your prospect get a good feel is a given but alerting your prospect to ask the reference about the process they went through while doing their due diligence is very helpful for the prospect as well. This is sales 101 but is it really that simple?
Tom Streng, co-founder of Data Age Business Systems, the developers of PawnMaster software, announced today that he will be transitioning into a role as Chairman of the Board. Streng will continue to contribute his 30-plus years of expertise to Data Age on a strategic level.
Len Summa, who has been running day-to-day operations for the last four years was named Chief Executive Officer (CEO) at the world’s most widely used pawn shop software company. (more…)