Lean In
Masters of Communication: Ask Advice, Give a Compliment, Tell a Secret.
I have had several very interesting conversations during our lock down about 'selling anything' (in general) and, about the struggle with having to layoff employees. One friend said- you’re like 100 years old now, you have seen a lot - what is your advice on selling in this environment and surviving.
Firstly, I want to say that I am not close to 100 but do admit that this boomer failed at retirement. That said some comments/thoughts of possible interest to those on the topics noted above.
Let me start, as a deductive processor of ideas with the last question. “I hesitate to layoff employees, how far can /should I go, what should I do now about the business”? A long time ago during some hard times my first company was facing, a new bank did not like the look of our balance sheet and 'called' my line. The first goal then, and now must be the survival of your company. Yes, employees are your most valued asset, but if they have no ship to return to, how have you helped them after all of this is over?
For me at that time, it meant taking my company through a “workout” which meant layoffs, change in compensation programs for all remaining with the last to be touched the sales team. So, survival is first, and you go down to 1 person - you - if it is necessary. Over communicate to vendors, partners, (banks) and your team what your plans are. Take all measures that the new SBA loans offer; those loans will be forgiven from my reading. Show the anticipated strategy and timeline for when “back to normal starts” and what it will take now (and then/when) business returns to “normal”.
Finally, and this one is what I hear most. How do I sell in this environment? One client even told me they do not want to talk about stuff that sounds like buying now, and to reconnect in 4 months, what am I supposed to do? I do not want to feel like I am trying to take advantage of this crisis and sell stuff?
This a difficult question so let’s start with the basics.
Change the word (now and forevermore if not done prior) from selling to HELPING.
Use the Romano rule 101 to make a friend, keep a client, gain a new person in your network; understand these 3 tips. Ask Advice, Give a Compliment, Tell a Secret.
This is an excellent time to EDUCATE clients, or new prospects with interesting articles (or write one) about things others are doing to better be prepared to deal with the next crisis. Interesting case studies are perfect now.
Offer some free services that can help them now and expect zero in return. If you’re in the food & beverage business, perhaps offer a deal that I heard Mark Cuban suggest yesterday on a podcast- ‘For, $xxx - once we open again you can drink/eat for free the balance of the year’, whatever helps you generate some cash.
As for myself with my 4th new startup, this one engaged in cybersecurity. The mission now is to educate on new ways to protect their company’s assets from hackers. Redistribute articles and awareness of bad actors hacking other companies, point out what went wrong. Offer measures to help one predict vulnerabilities to any company’s attack surface. Information that helps - not - if they had xxx this would not have happened, it’s enough to say that this story is something that might be of interest to you.
You cannot be a potted plant. You must turn into the sun, nurture yourself with reading more about not only your business sectors, but those that touch it, or strategically should be touching it in a new partnership of services that HELP your clients now and in the future. I helped an old friend create an entirely new product yesterday just after discussing with her what she always wanted to do. Remember that your answers might reside in an adjoining sector that looks different than yours but offer answers to your client’s challenges.
Think about the word- bundling.
Now lean in and grow.
Romano is a member of ‘Master of Communication’ an independent group of experts in collaboration, communication and related technologies who blog regularly on LinkedIn and in other forums.
This article was written by Bob Romano and contains solely his own personal opinions. Romano has extensive experience (including several startups to successful exit) providing C level leadership, sales process expertise, market branding and technology adoption. Bob's current role is CEO of Intelligent-Data representing Venture startups with market proven platforms focused on Cybersecurity & ML/AI productivity models.