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4 Characteristics of Successful Salespeople

Posted: 25 Oct 2019 02:11 PM PDT

Do you ever wonder if you're the right fit for a sales career? While every company may have its own sales culture, within cultures there's a certain type of person who is a fit for sales. Consider what it takes to be successful in sales if you're already embarking on your sales career or if you are wondering if sales is the right career for you

You can deal with uncertainty

There is a lot of uncertainty in sales. Customers may change when there are new hires or retirements. A day can change when an appointment gets canceled. Company strategies can change and products can be eliminated. All this means that those who resist change are unsuitable for sales. The pressure of having to deal with constant change would be very stressful for them.

Think about yourself and how you respond to the uncertainties in sales. Do you thrive on the unknown and think it's exciting? Or do you dread not knowing all the details and being uncertain what’s going to happen? I'll bet that those of you who like the excitement are doing well in sales. Those who dread it are either taking way too much time to control the uncontrollable, or just aren't making their sales numbers.

You can focus on process not results

People who look only at their sales numbers often lose sight of what it takes to get those numbers to grow. Sales truly is about implementing the right process to get the desired results. A good salesperson recognizes that and is able to develop and then improve his or her sales process. Selling without a process ends up being a waste of time—and that won't work in sales.

I remember a salesman who prided himself on the number of calls he made each day. That ridiculous number he cited was what he bragged about. But he wasn't selling. He was chatting with receptionists and never getting in to see decision makers. Needless to say, his selling career was cut short when he didn't meet his sales goals and was let go.

Successful salespeople have a process of identifying the most viable prospects, pursuing them in the most efficient manner, and asking questions that will guide customers to understand why they should buy now. That's a process. You will sell more when you have a great sales process. I predict that a less-skilled salesperson with a better sales process will outsell the more experienced salesperson.

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You are competitive in the right way

Sales managers often will display sales numbers so salespeople can see where they rank in a group. While the competition might be between you and the other salespeople on your team, you really are competing with yourself. After all, you cannot control how hard someone else works. Nor can you control the types of businesses that move in or out of someone's territory, including your own.

Salespeople who are competitive with themselves often are more successful. They are always checking their progress and measuring it. They set goals that they want to achieve. They don't allow other people's success to affect them. The most important score for them is their own sales results.

You can work autonomously and like it

I rarely hear people say that sales is a lonely profession, although it can be. Many salespeople work on their own and never become part of an office culture. They make their own decisions about scheduling, prospecting, proposals, and pricing; they don't have anyone telling them what to do, except when they are not making their sales numbers. That's when management is telling them they had better sell more.

There are some people who don't like the isolation of working in sales. They need to be in an office environment where there is a water cooler for chatting with coworkers. They like having frequent contact with a manager who will guide their tasks, and they don't like having to make many decisions about work. These people are not a good fit for sales.

So how did you stack up? Did this column describe you surprisingly well? If yes, I'll bet you have what it takes to succeed in sales.

RELATED: 12 Small Business Podcasts That Will Help You Sell More

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Take These 7 Steps Right Now to Protect Your Small Business

Posted: 25 Oct 2019 07:30 AM PDT

Whether you're just starting your new business, or your company has been up and running for a while, protecting the business you have worked so hard to build is essential. However, in the rush of launching a startup and the day-to-day challenges it entails, many entrepreneurs neglect this step. Here are seven things you can do to protect your business.

1. Select the right business structure

If you own a one-person business, by default you're a sole proprietorship. Many startups stick with this business structure because it's easy (you don't have to do anything), but that's not always the smart choice. The biggest risk of the sole proprietorship structure: It doesn't protect your personal assets, so if a customer gets angry and sues you, you could lose your savings, your home and any other assets you have. For many businesses, especially those with plans to grow or raise capital from banks or investors, an S or C corporation or limited liability company (LLC) is the better choice.

2. Get legal help

Rocket Lawyer, Nolo and LegalZoom are among the many legal websites that help you DIY. Read about legal issues, get templates you can customize to make your own contracts, and more. But while these sites are useful, sometimes you need a real, live attorney. To prepare for that eventuality, talk to other entrepreneurs and colleagues to see if they can recommend attorneys who are familiar with small business issues. Take the time to compare attorneys by scheduling an interview with each before you hire them. Most small businesses are on tight budgets; if this is you, talk to the lawyer about payment options that may be more affordable for your needs.

3. Get an accountant

Whether you intend to do your own business bookkeeping or not, a good accountant is worth the cost. Do you have time to keep up to date on tax law changes? Of course you don't, but your accountant does. Accountants can help you with tax preparation to save you money on taxes, advise you on the best legal form of business to choose, suggest the best ways to pay yourself, and even help with your personal finance needs. In the startup stages, an accountant can help you assess your startup costs, tell you if your financial projections are realistic or not, and help you get together all the information you need for a presentation that will persuade bankers and investors you deserve their money.

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4. Get business insurance

In addition to general liability insurance, your business may also need professional liability insurance, sometimes called errors and omissions (E&O) if you provide professional services such as consulting or accounting. Your state may require you to get workers' compensation insurance if you have employees. In addition to these basics, it's also wise to consider key man life insurance on you and other key employees or partners, cyber-insurance in case of a cyberattack or data breach, and business interruption insurance to provide you with some income if your business is temporarily closed due to a disaster. Look for an insurance agent experienced in your industry and small business who can help you craft the right combination of coverage.

5. Vet your new customers

When B2B customers don't pay or pay late, it can leave your company in a cash flow crunch. Plus, you'll spend time and effort trying to get the invoice paid. To avoid this pain, always do a thorough credit check before you begin working with a new B2B customer. You can run credit checks on customers at Experian, Dun & Bradstreet, or Equifax; while there is a cost, it's a small price to pay to protect yourself. If you still want to work with a customer whose credit is less than stellar, you can adjust their terms accordingly, such as asking for partial payment up front or c.o.d.

6. Protect your people

Disaster—both natural and man-made—can strike your small business at any time. Unfortunately, many small businesses never recover because they aren't adequately protected. In addition to insurance, you also need a disaster plan that spells out what you will do in case of an emergency affecting your business. Your plan should cover things like how to minimize risks from disasters, how to get employees and customers out of your location safely, and how to keep your business up and running after a disaster. The SBA has guidelines that can help you develop an emergency business disaster plan.

7. Protect your business data

Big companies aren't the only ones at risk from cyberattacks. In fact, small businesses are tempting targets for hackers since they often fail to take basic cybersecurity measures. Protect your business by backing up your data using a secure, cloud-based solution. This keeps your data safely off-site where it can't be destroyed by a fire or flood. Then gear up with business-grade computers and antivirus software and install firewalls. Last but not least, train your employees in secure computing tactics such as using strong passwords. Learn more about best practices for small business cybersecurity.

RELATED: Freelancers Need Business Insurance Too: 8 Reasons to Protect Yourself

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