New Sales. Simplified. Book Summary - New Sales. Simplified. Book explained in key points

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New Sales. Simplified. summary

Name: New Sales. Simplified.
Rating: 4.3 (152 reviews)
Author: Mike Weinberg

Mike Weinberg

The Essential Handbook for Prospecting and New Business Development

4.3 (152 ratings)

20 mins

Topics

Small Businesses Sales Marketing

Table of Contents

New Sales. Simplified.
Summary of 8 key ideas

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Key idea 1 of 8

What’s in it for me? Learn how to succeed in new business sales.

Going after new business isn’t complicated. There’s no mystery. There’s no magic. It’s all about doing the groundwork. And that’s where these blinks come in.

Before we start, two things:

First, this is a book about finding new business. It’s not an introduction to sales management or other business topics in general. Rather, it’s a collection of advice for practitioners. To get the most out of it, you ideally already have a business.

Second, keep in mind that this is a handbook, so it contains a lot of lists and bullet points. To get the most out of it, you might want to take some notes along the way!

In these blinks, you’ll find out

the reasons why many new business salespeople fail;
how you can craft a compelling sales story; and
how to execute your attack plan.

Check if your behavior, attitude, and attributes match those necessary for new business sales success.

Imagine you are facing a paradoxical situation: Your relationship management is top notch! You excel at problem solving! Your customer service is superb! Your client retention is brilliant! And still, when it comes to new business, you underperform.

In fact, there are a lot of new business salespeople who fail, even though they are great at selling. Why? Well, they all have something in common. It’s a set of behaviors, attitudes, and attributes. Here’s a questionnaire for you – let’s find out if you tick any of the boxes.

The first question is: Are you spending too much time waiting? When are those new marketing materials coming out? When is the new website being launched? Don’t wait for these things to happen. Be proactive with your target accounts and get out there now. And don’t ever sit back on your laurels waiting for one of your pipeline deals to close. Keep working on your list.
Are you able to tell your sales story effectively?
Have you selected your target accounts well?
Are you joining the party late when the other players have already taken the lead?
Also ask yourself: Are you being too pessimistic or negative? Are you not coming across well either on the phone or in person? Do you adapt to your prospect’s style? Are your sales calls effective?
But you also have to ask questions that pertain to your personality: Are you over-analytical, or are you fine with acting even if you don’t have all the facts and figures?
And finally: Can you really ride out the risk, rejection, and conflict you get on a daily basis when you are developing new business?

To be successful, you really have to answer honestly, because this can be a great starting point to working out what you need to change.

First, select your targets, then, deploy your weapons, and finally, attack!

You have completed the questionnaire, you’ve worked on your shortcomings, you’re ready to go. Where do you start? You could start with a new business development framework – the one that Mike Weinberg uses and that has been refined over a decade.

The interesting thing about this framework is that it was born out of failure. Several years ago, Weinberg joined a learning management company. He had big dreams! He would deliver so much new business, riding the tech wave, and eventually becoming rich and famous. But things didn’t work out that way. Everything that could go wrong, went wrong.

Selecting your targets is key to your success.

Let’s start with the first point in your plan: the targets. Imagine you’re planning a new business-development sales campaign. Now there are two questions you need to ask: Where are you going to get the business from? And who should you be pursuing?

Select your targets strategically so that you can invest your time effectively. Ask yourself big-picture questions. Who are your best customers? What are they like? Can you find other customers similar to them?

Your sales story is the most important weapon in your armory.

You’re a fighter pilot. Your mission is to exceed your sales goal. And to do that, you need to secure new accounts. You’re already locked in to your finite, focused, written, and workable list of targets. Now, it’s time to load up your fighter plane to execute your mission. So what’s in your armory?

One weapon you do have at your disposal is networking – building your relationships, using social media to research and connect with targets, email, telephone calls, voice mail, marketing materials, white papers, face-to-face sales calls, case studies, samples and demos, trade shows, entertainment, presentations, proposals, and references.

Don’t use a sales voice on the phone, and plan for a successful meeting.

You’re at home, wanting to relax. But you can’t, because the phone is ringing. You pick up the phone. It’s a telemarketer. You imagine the headset-wearing caller sitting at a desk and reading from a script. You can hear they’re a salesperson just from the tone of their voice. And then it hits you: that’s me. That’s how I sound when I’m cold calling – or, as the author prefers to call it, making a proactive sales call.

So, when you’re making a call to a target, get rid of your sales voice. Talk casually with a normal tone. And when it comes to a script, it’s better to have an outline for your call with some key phrases, rather than reading from a script.

Follow a clear structure when you visit your customer.

Let’s talk about how you should structure your client visit. In Mike Weinberg’s framework, there are seven phases. If you are talking to an existing customer, you have an additional phase, making it eight in total.

Avoid raising your clients’ defense shields, and remember to sell, not present.

Think about the last time you went to a store where you were approached by an eager salesperson. Did you feel comfortable? Chances are you weren’t. Probably your hackles were up – and that’s a perfectly normal reflex.

You shouldn’t think that it’s your fault when your prospect shows resistance. But it is your problem to solve. How do you do that? Here are four steps.

For a successful attack, block out your time for prospecting, and keep your pipeline balanced.

Showdown! You’ve selected your targets, your weapons are in place. Now it’s time to attack. You arrive at the office and you realize: you have your existing accounts to deal with. And then there’s the sales meeting you have to attend. A meeting with the manager. Product and project managers interrupt you needing details. Meanwhile, the kids are ill, your parents need your help, your heating has broken down, you need to read the news . . .

This is kind of how most new business salespeople find their day. There’s no “spare half hour” where you can pick up your prospect list easily. So what’s to be done?

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What is New Sales. Simplified. about?

New Sales. Simplified. (2012) is a guide for those charged with finding new business. It takes a look at the fundamentals and offers actionable advice and techniques to the aspiring new business salesperson.

Who should read New Sales. Simplified.?

New business sales executives
Sales managers
Account managers and veteran salespeople looking to refresh their skills

About the Author

Mike Weinberg is a specialist in new business development and sales management. He’s not only a best-selling author, but also a consultant, coach, and speaker. Named as a Top Sales Influencer by Forbes and OpenView Labs, before setting up his consulting practice he was the top producer for three different companies.

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