Return on your Investment

roi

What do you invest in…

We all invest our time, money, emotion and intellect each day. My challenge and yours each day is: Where are you going to invest today.

As sales people we invest our time in clients and prospects. We do whatever we can to “win” the deal and get in the door. Yet it is interesting for me when I ask sales people what they feel they are worth an hour. Some say 30.00 an hour, some say 75.00 an hour, a few will suggest more than 100.00 an hour. If you don’t believe your time is worth an appropriate amount of money then you will invest huge amounts of time on clients, prospects and opportunities that are a complete waste of time. Ask your self each day: Is this really a good investment of my time?

How much money are you prepared to invest with a client. Even in this day and age there are lots of people who will love to have meals with you, have a drink and be taken to conferences and trade events. Who wouldn’t!! The answer usually is: I have to maintain the relationship. I agree, however, how does that investment align with the revenue, or more importantly the profit that client generates for you and your organization. You can have people that love to hang out with you (read between the lines – get you to pay for everything!) and yet when it comes to making decisions are either not the decision maker or interested in doing business with you. Remember that senior decision makers don’t have time to be going out with you all the time. More importantly, your relationship will not be based on how great meals and drinks you have bought. Ask your self each day: Is this really a good investment of my money?

You invest a lot of emotion into a deal. Great sales people are passionate and emotional people. They also are very good at keeping their emotion in check as they manage a deal. That takes a lot of focus and energy to maintain. More importantly it can be exhausting. There are clients who suck the life energy out of you. Unreasonable demands, free meals, Friday meetings at 4:00 pm on a long weekend in the summer, low revenue and low margin. And yet you continue to work on these prospects or clients. Why? Ask your self each day: Is this really a good investment of my emotional well being?

Each day you need to be thinking about deals and opportunities. Each day you are investing your wisdom and knowledge into your deals. Good sales people are also investing in their intellectual development. Sales training, vacation time with family or friends, art classes or charitable work. You must invest thinking time into how you will handle specific situations and how you respond to customer demands and proposals. If you are flying by the seat of your pants every day you are not bringing your best logic and intellect to the sales game or your personal life. Ask your self each day: Is this a good investment in my intellectual well being?

Not unlike your personal wealth, your sales investment strategy is crucial for your success. If you spend no time managing your personal or sales investments then you lose control of your creation of wealth or your sales success!!

Take time each week and determine your investment strategy for the coming week. Once you know where you will invest yourself – move forward and do so wisely. Doing this will create the success you are looking for.

Author: Bill Sayers

Bill has been praised for his leadership, common-sense approach and ability to inspire sales people to new levels of success. His easy manner and strong public-speaking skills make him an engaging facilitator. Bill connects with senior executives and sales professionals alike, as he shares his real-life experiences and provides the appropriate tools and strategies for success in today’s business world.



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