POSITIONING YOURSELF TO CHASE DOLLARS RATHER THAN DIMES: HOW TO GET OFF THE SHORT TERM SALE TREADMILL
More profitable higher margin consistent revenue type accounts are different. They are typically harder to get into, take longer to close and require different tools and strategies to nurture and close. These accounts are worth dollars. Those who sell to these type accounts make more money.
Many times a salesperson or company that is perfectly capable of landing this type account chooses instead to chase dimes. Maybe they are stuck at how to get into the door, feel that they can’t afford the longer sales cycle of the better account or don’t have the time or resources to create the tools necessary to sell accounts for dollars.
So they focus on less profitable lower margin transaction type of accounts that will close sooner. They choose to chase dimes rather than dollars.
The unfortunate part of this decision is that many times, those who choose to run around crazy chasing dimes are just a few strategies, a few new skills, a few tools away from being able to chase and collect dollars.
What are you doing? Chasing dollars or dimes?
If you have been chasing dimes for more than six months or a year, understand that you are on an accelerating treadmill that is extremely difficult to get off.
Because you are chasing dimes you work harder and longer hours than if you were chasing dollars. This makes it harder for you to invest even small amounts of time necessary to learn the new skills you need to chase dollars.
Because you are chasing dimes you are working on a smaller profit margin. This makes it difficult for you to invest even small sums in the tools you need to effectively chase dollars.
When you chase dimes you are on an out-of-control treadmill and need to get off. If you don’t, you are doomed to running faster and faster and not really getting anywhere.
How do you make the transition?
1. FACE REALITY. You have been working too hard for too long, are capable of more and need to get off the treadmill. NOW.
2. BREAK TASKS DOWN INTO MANAGEABLE STEPS. You can learn how to gain access to top decision-makers at desired future accounts. You can acquire the first meeting and sales pipeline management skills to convert them to a sale. You can create the tools you need to get this job done.
3. GET HELP. Read. Listen. Get a coach or some training.
When you chase dollars you collect dollars and you can shut the treadmill off.
Best wishes with your selling,
Scott Channell
