Chapter 3: Round Up the Usual Suspects (and Get Rid of Them)

Question 1

It is our job as salespeople to create opportunities, not wait for them.

Dollar Value of Referral Selling vs. Cold Calling

TWO SURPRISING DIVIDENDS

• Dividend One: Referral selling provides you with a way to spend less time and get better results. It provides a better quality of life for you.
• Dividend Two: Referral selling begins with trust as a given, so the initial sale is larger, and there is more follow-on business.

Bottom Line:

Referral sales are at least double the value of a cold-called sale with half the effort.

4 Categories of Business Development Activities

• Proactive—Asking for and getting qualified leads: the time you currently spend asking for and getting qualified referrals
• Active—Creating a presence for your company in the business world and in the community: the time you spend promoting your business brand (e.g., advertising, mailings, public relations, websites), including the time you spend responding to inquiries from these strategies
• Personal—Activities that build your personal visibility and credibility: the time you spend preparing for and participating in speaking engagements, professional and community groups, conferences, and networking groups—this is the time you spend building your personal brand
• Other—Other business-development activities you might be currently doing; for example, cold calling

Mailing Campaigns

• I’m not against direct mail or e-mail campaigns. I’m against you believing that these initiatives are a way to actively generate new business. They don’t. They contribute to your credibility and your branding, and that’s it. These approaches are cold.