11 Opportunities Flashcards
What is the focus of the book’s two parts?
Strategies for growth leaders to succeed in their role, focusing on accountability and team effectiveness
The book emphasizes preparing leaders for revenue growth opportunities.
How is effectiveness defined in the context of sales?
The efficacy of an individual salesperson or a sales team
More effective salespeople find it easier to win opportunities.
What is one way to measure a salesperson’s effectiveness?
By looking at their win rate
A good metric, but may not tell the whole story.
What is a Full Opportunity Review (FOR) meeting?
A meeting held individually to review all of a salesperson’s opportunities
It ensures the salesperson has enough and appropriate opportunities.
What is a potential problem if a salesperson has too few deals?
Their pipeline is fragile, risking missing revenue goals
Losing one deal can significantly impact their success.
What might indicate a salesperson has too many small deals?
Poor targeting, treating every deal as equal, or lack of confidence
It is essential to discern the cause to address the issue.
What is meant by ‘zombie deals’?
Deals that have had no forward movement for a long time
These deals need to be reassessed and may require starting over.
What is crucial for formulating a deal strategy?
Understanding what compels the client to change
It goes beyond just the presenting problem.
Who are the ‘centers of gravity’ in a deal?
The one or two people driving the decision-making process
Knowing these individuals is vital for understanding the deal dynamics.
What should you assess regarding client effort in a deal?
How much effort the client is putting into the initiative
This indicates their engagement and seriousness about changing.
What is important to know about organizational access in a deal?
Whether you have access to departments that will influence the initiative
Consensus is critical for larger deals.
What should you do if you don’t know your competitors?
Triangulate their behaviors and gather feedback from contacts
Understanding the competition helps in adjusting your strategy.
What is a key factor in winning deals?
The value created in the sales conversation
Clients prefer to buy from salespeople who provide beneficial conversations.
What enhances a salesperson’s chance of winning a deal?
A deep understanding of the client and their business
Tenured salespeople often improve rapidly in familiar verticals.
How should desired outcomes be delivered to clients?
By adjusting the sales approach to account for their preferences
Doing so differentiates you from competitors.
What should sales leaders consider when asking about potential losses?
Factors like client preferences and time spent with decision-makers
Understanding these can indicate the health of the deal.
What does tracking client time in sales indicate?
The level of preference the client has for the salesperson
More time suggests a stronger relationship.
What is the significance of client time in sales?
Client time is an indicator of a decision-maker’s preference for a salesperson. More time suggests a positive inclination, while less time indicates a lower likelihood of capturing the opportunity.
Tracking time spent in conversations can reveal insights into the client’s interest level.
What are potential dealbreakers in sales conversations?
Potential dealbreakers are nonnegotiable needs that a prospective client has, which if unmet, can result in losing the deal.
It is important to track these dealbreakers to avoid potential losses in revenue.
Why is it important to understand competitive threats in sales?
Understanding competitive threats helps salespeople disrupt competitors’ strategies, allowing them to better position their offerings and win deals.
Knowledge of competitors’ tactics can inform a salesperson’s approach and strategy.
What is triangulation strategy in sales?
Triangulation strategy involves explaining to clients that lower-priced business models often require unspoken concessions that may hinder achieving desired results.
This strategy helps in positioning value against competitors who compete primarily on price.
What are the two key reasons to join a salesperson on a sales call?
- To observe the salesperson’s performance in front of the client
- To actively engage in the conversation and demonstrate interest in the client’s needs.
What is the concept of dominating presence in sales?
Dominating presence refers to the advantage gained by physically visiting a prospective client, communicating care and commitment without words.
Physical presence can significantly impact the client’s perception of the salesperson’s dedication.
What does dominating time entail in the sales process?
Dominating time means creating greater value in client interactions than competitors, thereby gaining more of the client’s time for deeper discussions.
This can involve advising clients on decision-making processes.
