Is My Prospect Qualified?Is My Prospect Qualified?--and other sales questions --and other sales questions

Germantown Innovation Center/ June Germantown Innovation Center/ June 1717thth ,2010 ,2010

Andrew Rudin,Andrew Rudin,Managing Principal, Outside Technologies, Inc.Managing Principal, Outside Technologies, Inc.www.outsidetechnologies.comwww.outsidetechnologies.com

703.371.1242 (mobile)703.371.1242 (mobile)arudin@outsidetechnologies.comarudin@outsidetechnologies.comwww.xeesm.com/andyrudinwww.xeesm.com/andyrudin

Outside Technologies, Outside Technologies, Inc.Inc.

Sales strategy and execution

•Sales risk assessments

•After action reviews

•Best practice knowledge transfer

•Sales discovery training workshops

•Content development, usability research, and social network analysis

•Special projects

If I took time out of my day to If I took time out of my day to attend this meeting, what attend this meeting, what would I like to gain?would I like to gain?

Know how to solve a persistent Know how to solve a persistent problem or challenge in a new wayproblem or challenge in a new way

Strategies and tactics that provide Strategies and tactics that provide me a competitive advantageme a competitive advantage

Skills I can apply to a broad range of Skills I can apply to a broad range of selling situationsselling situations

Key Problems to SolveKey Problems to Solve

How to How to reduce sales riskreduce sales risk and and capitalize capitalize on opportunitieson opportunities in an environment in an environment of great economic uncertaintyof great economic uncertainty

A few myths that trap A few myths that trap salespeoplesalespeople

It’s possible to sell with certainty.It’s possible to sell with certainty. Sales is a “numbers game.”Sales is a “numbers game.” ““Shut up and listen” is good advice.Shut up and listen” is good advice. There is such a thing as a There is such a thing as a perfect perfect

sales question.sales question. Open-ended questions are better Open-ended questions are better

than closed-ended questions.than closed-ended questions.

Hi Tom: Hi Tom:

I am the new Vice President of Operations at AccuThought, and my I am the new Vice President of Operations at AccuThought, and my company has initiated a project to make our operations more company has initiated a project to make our operations more efficient.efficient.

We are looking at companies that can provide solutions, and after We are looking at companies that can provide solutions, and after reviewing your website, we think it would be beneficial to set up a reviewing your website, we think it would be beneficial to set up a meeting to learn more.meeting to learn more.

We plan to purchase a solution next quarter, and we will be refining We plan to purchase a solution next quarter, and we will be refining our search to three potential vendors over the next few weeks. our search to three potential vendors over the next few weeks. AccuThought will conduct a thorough pilot before making a decision.AccuThought will conduct a thorough pilot before making a decision.

Can you provide us with pricing and product information for your Can you provide us with pricing and product information for your offering? Also, if you have some references we can contact, that offering? Also, if you have some references we can contact, that would be most helpful.would be most helpful.

Best,Best,Ken Thomas, Ken Thomas, VP Operations, AccuThoughtVP Operations, AccuThought

Participant QuestionsParticipant Questions

At this point, which of the following At this point, which of the following would you provide or schedule would you provide or schedule (check all that apply):(check all that apply):

product information?product information? a reference?a reference? pricing information?pricing information? a phone meeting?a phone meeting? an out of town face-to-face meeting?an out of town face-to-face meeting?

Key challengesKey challenges

1. Creating an environment in which 1. Creating an environment in which we can get to the truth about our we can get to the truth about our greatest risks and opportunities.greatest risks and opportunities.

2. Uncovering what we need to know—2. Uncovering what we need to know—quicklyquickly..

Question-driven Question-driven conversationsconversations

I.I. Foundations of trust for Foundations of trust for conversationsconversations

II.II. Questions to askQuestions to ask

III.III. Five key discovery skillsFive key discovery skills

I. Foundation of trustI. Foundation of trust----beginsbegins before before the first conversation the first conversation

IntentIntent TransparencyTransparency Shared values, objectives and goalsShared values, objectives and goals EmpathyEmpathy Meaningful questionsMeaningful questions Reflective, insightful dialogReflective, insightful dialog Courtesy and humilityCourtesy and humility WorldviewWorldview

Reference:Reference: Mahan Khalsa’s Mahan Khalsa’s Let’s Get Real or Let’s Not PlayLet’s Get Real or Let’s Not Play, and , and To an Octopus, ’50’ Means Nothing. To an Octopus, ’50’ Means Nothing. http://www.customerthink.com/article/octopus_50_means_nothing_empathy_mattershttp://www.customerthink.com/article/octopus_50_means_nothing_empathy_matters

II. Questions to askII. Questions to ask

1. Qualification1. Qualification2. Networking2. Networking3. Attitude/sentiment3. Attitude/sentiment4. Validation4. Validation5. Visioning5. Visioning

1. Qualification: 1. Qualification: “4 Green Lights”“4 Green Lights”

Can my company as Producer and my target company as Can my company as Producer and my target company as Consumer generate mutually beneficial value?Consumer generate mutually beneficial value?

SSolution fit:olution fit: Does my prospect seek an outcome that can Does my prospect seek an outcome that can be enabled with my product or service?be enabled with my product or service?

AAccess:ccess: Can I get access to the people who can enable me Can I get access to the people who can enable me to achieve the outcome I want?to achieve the outcome I want?

FFinancial resources:inancial resources: Does my prospect have the resources Does my prospect have the resources (money/time/people) to purchase and implement my (money/time/people) to purchase and implement my solution?solution?

EExpected timeframe: xpected timeframe: Does my prospect plan to purchase Does my prospect plan to purchase my product or service in a timeframe that is within my my product or service in a timeframe that is within my operating horizon? operating horizon?

Exploration & Production

Z a he er

S ch u ltz

M itch e ll

K lim ch u ck

A n ge lo

K e lle r

S m ith

GeologyD h illo n

M ye rs

PetrophysicalC ro s le y

ExplorationA ve ry

C o rd o za

S u th e rla nd

R a m ire z

DrillingM cW a tte rs

W a ring

ProductionH a ssan

ReservoirH o p p er

ProductionM ila ve c

S e n io r V ice P re sid e n tM a re s

Formal Structure

Sutherland

Smith

Crossley

Dhillon

Zaheer

Keller

Angelo

Schultz

Cordoza

Klimchuck

Mitchell

McWatters

Myers

Ramirez

Avery

Mares

Hopper

Hussan

Milavec

Waring

Informal Structure

2. Networking Questions

Resource: Rob Cross The Hidden Power of Social Networks

Example Networking Example Networking QuestionsQuestions

• When you have questions about XYZ, who do you When you have questions about XYZ, who do you ask?ask?

• Which individuals in your organization seek Which individuals in your organization seek youryour input or advice, and what do they ask?input or advice, and what do they ask?

• What individuals would perceive the greatest What individuals would perceive the greatest value for my product or service value for my product or service right now?right now?

• Which individuals must champion my proposal in Which individuals must champion my proposal in order for me to win the sale?order for me to win the sale?

• Who can provide access?Who can provide access?• Who will make the decision to accept my Who will make the decision to accept my

proposal?proposal?• Who is influential with that/those individual(s)?Who is influential with that/those individual(s)?• Is there anyone in the organization you know of Is there anyone in the organization you know of

now who could prevent this initiative from being now who could prevent this initiative from being accepted?accepted?

3. Attitude/Sentiment 3. Attitude/Sentiment QuestionsQuestions

1. Believe (do you believe the situation exists?)1. Believe (do you believe the situation exists?)2. Care (do you care about it?)2. Care (do you care about it?)3. Act (will you act to solve it?)3. Act (will you act to solve it?)

• How would you characterize the accuracy of the figures we have discussed/presented/included in the proposal?•If you had to make a decision based on what you know right now, what would it be?• How important is solving this business problem for you personally?• How consequential is solving this problem (or strategic challenge) for your organization?•If you accept our proposal, when do you anticipate executing a purchase order?• Will you recommend acceptance of my company’s proposal?• Can I have the order?

Resource: Made to Stick by Chip Heath and Dan Heath

4. Validation Questions4. Validation Questions““Leave no answer unquestioned!”Leave no answer unquestioned!”

What evidence confirms (or contradicts!) our key What evidence confirms (or contradicts!) our key information about our prospect’sinformation about our prospect’s

Strategy and business drivers?Strategy and business drivers? Perception of the impact of the problem on the Perception of the impact of the problem on the

organization?organization? Network of buying decision makers and influencers?Network of buying decision makers and influencers? Governance policies?Governance policies? Procurement steps and timeframe?Procurement steps and timeframe? Motivation and commitment?Motivation and commitment?

5. Visioning Questions5. Visioning Questions

Can you describe how solving this Can you describe how solving this challenge could deliver value for you challenge could deliver value for you or for your company?or for your company?

If you could design a solution to enable If you could design a solution to enable your strategy, how would it work?your strategy, how would it work?

What are the characteristics of the What are the characteristics of the vendor you seek for this collaborative vendor you seek for this collaborative effort?effort?

III. Five discovery skills for III. Five discovery skills for sellingselling

1. Associating1. Associating2. Questioning2. Questioning3. Observing3. Observing4. Experimenting4. Experimenting5. Networking5. Networking

Source: Source:

The Innovator’s DNA, http://hbr.harvardbusiness.org/2009/12/the-innovators-dna/ar/1The Innovator’s DNA, http://hbr.harvardbusiness.org/2009/12/the-innovators-dna/ar/1

Critical Success FactorsCritical Success Factors

Insist on transparency—for you and your Insist on transparency—for you and your prospectprospect

Bring curiosity to every conversationBring curiosity to every conversation Don’t look for questions to “carry the ball”—Don’t look for questions to “carry the ball”—

conversations do.conversations do. Put Put risksrisks and and opportunitiesopportunities at the top of your at the top of your

discovery listdiscovery list Endeavor to see the world through your Endeavor to see the world through your

prospect’s eyesprospect’s eyes Don’t assume you know the answers to your Don’t assume you know the answers to your

most important questionsmost important questions Don’t rationalize anomaliesDon’t rationalize anomalies If you’re unclear about something that matters, If you’re unclear about something that matters,

keep asking questionskeep asking questions

Resource SummaryResource Summary

Book:Book: Let’s Get Real or Let’s Not PlayLet’s Get Real or Let’s Not Play, by Mahan Khalsa, by Mahan Khalsa

Book: Rob Cross The Hidden Power of Social NetworksBook: Rob Cross The Hidden Power of Social Networks

Book: Book: Made to StickMade to Stick by Chip Heath and Dan Heath by Chip Heath and Dan Heath

““To an Octopus, ’50’ Means Nothing” To an Octopus, ’50’ Means Nothing” http://www.customerthink.com/article/octopus_50_means_nothing_empathy_mattershttp://www.customerthink.com/article/octopus_50_means_nothing_empathy_matters

““The Innovator’s DNA,” The Innovator’s DNA,” http://hbr.harvardbusiness.org/2009/12/theinnovators-dna/ar/1http://hbr.harvardbusiness.org/2009/12/theinnovators-dna/ar/1 ““The Right Sales Questions Will Get the Right Answers,” The Right Sales Questions Will Get the Right Answers,”

http://www.customerthink.com/article/right_sales_question_get_right_answershttp://www.customerthink.com/article/right_sales_question_get_right_answers

““Just the Facts: Sales Discovery Requires More than Asking Killer Just the Facts: Sales Discovery Requires More than Asking Killer Questions”Questions”

http://www.customerthink.com/blog/http://www.customerthink.com/blog/just_the_facts_sales_discovery_requires_more_than_asking_killer_questionsjust_the_facts_sales_discovery_requires_more_than_asking_killer_questions

Andrew Rudin,Andrew Rudin,Managing Principal, Outside Technologies, Inc.Managing Principal, Outside Technologies, Inc.

website: website: www.outsidetechnologies.comwww.outsidetechnologies.com

blog: blog: www.outsidetechnologies.wordpress.com www.outsidetechnologies.wordpress.com

703.371.1242 (mobile)703.371.1242 (mobile)arudin@outsidetechnologies.comarudin@outsidetechnologies.comwww.xeesm.com/andyrudinwww.xeesm.com/andyrudin

White paper “How to Qualify Prospects: A White paper “How to Qualify Prospects: A Powerful Strategy for Managers and Powerful Strategy for Managers and Salespeople”Salespeople”

--available for download, or as a workshop. --available for download, or as a workshop. Contact Outside Technologies, Inc.Contact Outside Technologies, Inc.

Thanks !Thanks !

Questions?Questions?