WANT TO BE A BUSINESS KING? YOU’LL NEED A CROWN!
Ask any sports team and they’ll tell you - success not only requires talent and hard work; it requires a winning formula too.
At MLP, we specialise in harnessing the talent and hard work of our clients and giving them the formulas they need to translate that raw material into sustainable success.
And when it comes to being the king of commerce, our C.R.O.W.N formula has helped lots of ambitious business owners to maximise their potential.
So, what’s the secret?
CROWN stands for:
C Create a demand
R Realise the full potential
O Open to new ideas
W Work with everything
N Never underestimate
Creating demand involves marketing your products and services effectively, taking a planned approach to developing customer awareness so that customers are ready to buy even before you start to sell.
You need to take the same sustained approach to point two: ‘realise the full potential’, which means both maximising your own potential through continuous personal development and helping your customers to leverage their own potential by taking any opportunities to contribute to their growth.
Potential can take many different forms so be proactive and embed a willingness to improve into everything you do, which brings us on to the third element of the formula: ‘open to ideas’. Again, be vigilant and remember that all ideas are worth considering – even ideas that don’t work might teach you something! It’s also important to remember that ideas can come from a variety of sources; your customers, your colleagues, your competitors, other industries - use your instincts and think creatively.
Indeed, ideas are one of your greatest resources and it’s essential to ‘work with everything’ you have at your disposal, as we point out in step four of our CROWN formula. Don’t waste assets or people but make sure they are helping you work towards enhancing your business success.
Which brings us to the final – and arguably the most important – element of the formula: ‘never underestimate’ your own potential, the value of customer relationships, the threat posed by competitors and market conditions or any other challenges and opportunities that may affect your business.
If you have the talent and drive to be successful, you will always achieve your goals, but with the right business formula, you can CROWN that success.
The 10 Secrets of Successful Entrepreneurship
By Mike Le Put, owner and founder of MLP Training
I love my job. Not only because it gives me the opportunity to train people and help them be the best that they can be, but also because it brings me into contact with so many entrepreneurs that I can learn from as part of my own continuous personal development.
The insights I’ve gained from working with trailblazing entrepreneurs over the years are also secrets of success that I can pass on to my clients and contacts.
If you’d like to tap into some of the habits of successful business people, here are ten key secrets of success in business:
1. Have a clear vision with definable, measureable goals and plan ahead confidently as though those goals have already been achieved
2. Be passionate about what you do and feed that passion into every element of what you’re trying to achieve. Remember, passion is contagious so this will not only impact on what you achieve but on what your team achieves too
3. Maintain your drive and energy levels, even though challenging times
4. Work hard. It may seem like a business basic but it’s important to understand the direct correlation between the amount of effort you put in and the level of your success
5. Focus on solutions, not problems. Assume there is a solution and work on finding it, ensuring that you use the experience as a learning process
6. Don’t look back. Successful people are forward focussed so, while they will always learn from their mistakes, they will never dwell on them
7. Be positive. Successful people look for the good in every situation and every person
8. Surround yourself with good people. Regardless of how talented and driven you are, you will need people that you can trust who share your goals and commitment
9. Delegate. When you’ve found the right people ensure you maximise their value to your business by playing to their strengths
10. Don’t be shy about success. Successful people expect to succeed and, when they do, they celebrate their achievements!
By Mike Le Put, founder and owner of MLP Training
As any sports psychologist will tell you, winning is not all about physical performance - it’s also about faith in your ability to win.
Many sales people could learn from their sporting heroes’ self belief and, while they may not be able to wear the word ‘believe’ on the inside of their shirt as many do on the pitch, it should certainly be a mantra that comes from their heart every day of their working lives.
The correlation between confidence and sales success is well-documented with numerous experiments being carried out to measure the impact of positive belief on sales conversion rates.
For example, a large team of newly trained sales people was split randomly into two groups following the recruits’ induction. The two sets of salespeople had been trained in the same way and were equally talented.
Group one was told that the territories they were being given were well-established markets with excellent potential where the company expected to see high sales volumes during a short period of time. Group two, meanwhile, was told that they were to be deployed in challenging territories where sales opportunities were scarce and meeting targets was going to be tough.
The outcomes are not surprising. Despite the fact that all the territories had the same customer demographic and potential to generate new business, sales for group one far outstripped those for group two. The only real difference between each location was the sales people’s expectation of success.
The work I do myself, training a wide range of sales people, echoes these results. MLP Training provides a range of courses and works with sales people who are just
starting out on their career right through to those that have lived and breathed sales for decades. It’s extraordinary that many of those who have earned their sales stripes over a number of years still don’t fully understand the correlation between expectation and success.
A recent MLP ‘Getting Appointments Over the Phone’ course highlights this too. The one-day course involved training a group of 10 experienced sales people and my first question was ‘how many cold calls do you expect to have to make before you secure an appointment?’
Answers from the group varied between 10 and 20, with one particularly jaded salesperson answering 100. There was, however, just one delegate that confidently answered ‘one’.
When set the practical task of carrying out some cold calls, success levels varied across the group. By far the most successful delegate, however, was the person that had anticipated securing an appointment with his first call. He may not have achieved a successful outcome every time he picked up the phone but his hit rate was far greater – largely because he believed it would be!
Whatever you’re selling and whoever you’re selling it to, the biggest factor in your success is confidence that you can make success happen. Certainly, there will be obstacles, but, if believe you will lose out on price, quality or anything else, the chances are you probably will.
If you want to avoid being defeated the moment you’re challenged, you have to believe the sale is yours.
Never Mind the Price, What’s the Value?
By Mike Le Put, owner and founder of MLP Training
The most common grumble I hear from sales people is that their market is driven by price and it’s getting harder to make any margin because price cutting has become so aggressive.
My advice to them is, if you can’t win the price cutting game, don’t play it!
Let me explain with an example. A sweet potato farmer based in West Virginia who exported to the UK was paying $1,000 per container to ship his harvest. His shipping overheads were low but his customers were disgruntled because many of the sweet potatoes transported in the low-cost standard containers were no longer in saleable condition when they arrived at their destination – they had perished.
The sales person was going to offer ventilated containers at a cost of $2,000 each but this is twice the price and would sound expensive at this stage. So, the first priority for the salesperson was to ask the right questions.
He ascertained that the farmer was now using refrigerated containers at a cost of $3500 dollars each shipping 20 containers per week for 25 weeks of the year whilst the sweet potatoes were in season, at a total cost of $1,175.000.
Armed with this information, the sales person was able to base his approach on helping the farmer improve his business by addressing his customers’ needs, while offering him a price that was lower than his expectations, even though it was twice his existing costs of a basic container it saved the farmer $75.000 over the 25 week period. In this way, he not only sealed the deal but exceeded the customer’s expectations by helping him solve his issue with perished stock much more cost-effectively than the customer had anticipated.
So what’s the moral of the story? Firstly, it’s a reminder that price is never the sole criteria for any purchase. A successful salesperson will always keep this as their mantra and find out more about the buyer’s other purchase motivations as an integral part of the selling process.
By asking the right questions, listening to the answers and developing a solution that addresses the customer’s specific needs, a salesperson can add value and push price down the agenda.
Instead of focusing on price, this approach establishes the desire to buy. As a sales professional, if you understand the desire to buy, you’re in a position to develop it, and the higher the desire to buy, the lower the customer’s price resistance will be.
For many salespeople, the default setting seems to be to find out what the customer is currently paying and begin negotiations on price. While finding out what the customer is already paying is an important part of the process, it should go hand in hand with finding out what value they are receiving at that price so that you can offer them a higher value solution.
It is the value that you can provide that will secure the sale and only once the customer is sold on buying from you should you begin negotiations on price.
Finding the Time for Success
Apparently, the average UK adult spends 26 hours a week watching television. I’m not against watching TV but I know there will be people in the UK saying ‘I wish I could learn how to play the piano, but I just don’t have time’. But here is where they are wrong - they do have the time, they just choose to spend it watching TV.
I often give this analogy when people ask me what the secret to sales success is, and I conclude with - you need to find the time for success. Yet the reality is often, ‘I need more time’.
First of all, there is no more time. Low and high achievers all get 24 hours a day. Secondly, yes there isn’t enough time to do everything, which is why you need to learn to prioritise effectively and be aware of which actions will enable you to develop a plan and ultimately achieve your goals.
There are two easy steps to help you overcome this. Step one is to set your goals - whether this is to sell three times more than you did last year, become a managing director even run a marathon – anything is possible if you know what you’re striving towards. This seems like a simple solution but many people make the common mistake of not setting goals and wonder why they fail.
Step two is to simply develop a plan, because it will help drive your motivation and you’ll succeed as a result.
High achievers have clearly defined targets and plan their time to achieve this. You can’t create more time but you can control your environment, your procedures, your habits, and only you can allocate the right amount of time to reach your goals. It’s your life, your future, and your time for success.
So if you find yourself thinking or saying, ‘I don’t have time’, ask yourself what you are doing or about to do which is taking you away from your goals?
We’re hosting our next Goal Setting and Time Management Course at the Bolholt Country Park Hotel in Bury, Greater Manchester.
to find out more and secure your place.
*Source: www.thinkbox.tv (2014)
A positive mind is half the battle
by Mike Le Put, owner and founder of MLP Training
In a fast-paced work environment, it’s often hard to prioritise your personal goals as the busyness of the working day can often create obstacles which may inhibit your success. However, simply changing your attitude towards your targets and prioritising your time effectively can lead to outstanding results – whatever sector you work in.
I often find the analogy of the ancient battle between Alexander the Great and Persian Emperor Darius a useful one when teaching the Goal Setting and Time Management course.
Alexander the Great had defeated Darius’ army twice before and understandably Darius did not want to be beaten again. Leading up to the great battle, Darius cruelly enrolled thousands more men to his army, forcing them to fight for him so they outnumbered Alexander’s army by twenty to one. It seemed at the outset that Darius had the stronger force to beat Alexander once and for all.
The night before the battle, generals in Alexander’s army were extremely worried about Darius’ numerical advantage, and failed to understand how they would kill them all and win the battle. But Alexander’s had done his homework, and had a plan. He realised he didn’t need to destroy the entire army, just kill Darius, as his army had no loyalty to him.
He shared his vision with his troops and made sure they understood and bought into the plan. During the battle, Alexander’s army lined up in an arrow head formation with him at the tip, followed by an enormous war cry from his army of men, “Kill Darius! Kill Darius!”
Darius panicked and galloped off into the distance, leaving his men and the battle behind. Darius’ army surrendered to Alexander and he had conquered once again.
The challenges faced by Alexander and his army seemed overwhelming but he took a step back, reviewed his options and conceived a way forward. He quickly eliminated the negatives and barriers to success and instilled belief in his team, ensuring they were fully behind the positive plan.
Distinguishing the difference between urgent and important tasks is a skill, but it’s also important to remember to use your time effectively to enable you to achieve what you want and reach your ultimate goals – which is what I teach all my delegates to do. Being able to identify the time wasters and potential obstacles together with a positive attitude is a sure starting point to success.
So when people ask me if there’s one thing they can do to improve their time management and goal setting skills, my answer is, ‘a positive mind is half the battle’. You can achieve your goals with an optimistic outlook because with a clear vision, you’re able to manage your time more efficiently.
It may seem simple, but the best advice always is!
To find out about the next Goal Setting and Time Management course, call 01204 88 88 26 or click here
The Secret of Successful Sales
by Mike Le Put, owner and founder of MLP Training
In a fast-paced sales environment, no sale is ever guaranteed until the customer has signed on the dotted line.
Simply by walking into a sales conversation believing that you will close the deal, however, you can dramatically improve your chance of success!
The correlation between confidence and sales success is well-documented and numerous experiments have been carried out to prove the importance of positive belief.
For example, a large team of newly-trained sales people was split randomly into two groups, with group one told that they were being given ‘easy’ territories with excellent potential for high sales volumes and group two being warned that their territories were challenging and meeting targets would be tough.
Unsurprisingly, while all the territories had the same customer demographic and sales potential, group one closed many more deals.
My own experience echoes these results and the outlook of delegates that attended a recent MLP ‘Getting Appointments Over the Phone’ course provides a case in point. The one-day course involved training a group of 10 experienced sales people and my first question was ‘how many cold calls do you expect to have to make before you secure an appointment?’
Answers from the group mostly varied between 10 and 20, with just one delegate confidently answering ‘one’.
When set the practical task of carrying out some cold calls, success levels varied across the group, however, by far the most successful delegate was the person that had anticipated securing an appointment with his first call. He may not have achieved a successful outcome every time he picked up the phone but his hit rate was far greater – largely because he believed it would be!
So when people ask me if there’s one thing they can do to improve their sales, my answer is ‘believe you will close the deal’.
It may seem simple, but the best advice always is!
Find out more about our ‘Getting Appointments Over the Phone’ course here.
Top tips for Sales Team Motivation
Conventional wisdom on motivating your team would have you believe that there is only one technique that works: the carrot and the stick.
However, if your team spends most of its time worrying about the stick because it has no expectation of winning the carrot, the effect can actually be the opposite of what you intended, leaving you with a downward spiral of low morale and poor performance.
If that sounds familiar, you’re not alone...but it’s not time to rip up the carrot and stick rule book yet! It’s just time to understand it better.
The carrot and stick approach is only effective if you apply the M = R x E (Motivation = Reward x Expectation) formula for sales success.
Let me explain with an example. Let’s imagine that it’s the office Christmas party and there is a piano in the room. You decide it would liven up the party if someone were to play a few tunes and you offer a bottle of wine as an incentive. Yet, no-one volunteers to tickle the ivories.
Even after you’ve threatened to end the party if no-one volunteers to play the piano, the stool remains unoccupied. Why? Because you’ve failed to ask a very important question – does anyone at the party actually know how to play the piano?
It seems obvious in that context that a reward is only an incentive if it’s attainable and yet, in a more conventional business scenario, that very important element of motivation – expectation – is often overlooked.
Put simply, no matter how attractive the reward may be, if the salesperson has no expectation of achieving it because the target is too high or in some other way unachievable it will not motivate them to sell more. In fact, it may do just the opposite.
So what’s the answer?
Firstly, it’s vital to nurture a no blame culture that enables sales people to communicate openly about the hurdles that are preventing them from achieving their targets. This should be a two-way process, with sales managers also taking the initiative to help members of their team that are struggling to meet their targets, rather than berating them for underperformance.
Secondly, you need to enable those more worried about the stick than excited about the carrot to access the help they need to increase their expectations of attainment with training and confidence building.
Let’s face it, sales talent, like musical ability, needs coaching and practice to reach its full potential and building confidence and the expectation of success along the way is an important part of that process.
For more information about the courses on offer for successful selling skills, click here
Have You Got 20/20 Vision for Future Business Success?
Business leaders should always have their eye on the future, and at MLP Training, we have decades of experience of helping leaders keep their sights firmly on success.
To celebrate the fact that it’s our 25th year in business, we’re holding a series of FREE Vision 20/20 Strategy meetings through the year, which allow business leaders the time and space to explore the long-term direction they want their business to take.
Using tried and tested methodologies, plus lessons learnt from military history, each session provides a valuable framework for business planning for busy leaders.
The next Vision 20/20 session will be held on 31st July 2015 in the picturesque setting of The Stables Country Club in the grounds of the Bolholt Hotel in Bury.
In addition, we will also be running more than 60 Sales Training and Management Development courses at the hotel in Bury, which will be attended by local, national and international companies. Delivered in more than nine countries, these Sales Training and Management Development programmes have also been distributed worldwide by the BBC.
To book your place or for more information, click here
Follow us on Twitter - @mlptraining1
25th Anniversary Celebrations
Whilst a 25th anniversary is usually called a ‘silver’ anniversary, the last 25 years have really been a golden time for MLP Training, founded in 1990 in Bury, by trainer and motivational speaker, Mike Le Put.
Over the last 25 years MLP Training has delivered Sales Training and Management development courses in over 20 countries. Our programmes have been distributed worldwide by the BBC and have even been made available as in-flight entertainment to first-class customers on British Airways.
Remaining faithful to our UK customers, we will also be running more than 60 Sales Training and Management Development courses at The Bolholt Country Park Hotel in Bury that will be attended by local, national and international companies.
In addition to our core client list, which ranges from multi-national companies to SMEs, we are also proud to supply training to businesses using the national Growth Accelerator service.
To celebrate this important 25 year milestone, MLP Training is holding a series of FREE Vision 20/20 Strategy meetings this year. The one day workshops are provided Free to Senior Directors so as to develop a clear vision of where they want their business to be by 2020. Using tried and tested methodologies, the sessions provide a valuable framework for businesses planning for growth.
The next Vision 20/20 meeting will be held on 1st July 2015 at the Bolholt Hotel in Bury. For more information, click here.
Follow us on Twitter @mlptraining1
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