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Fundamentals of Sales Management for the Newly Appointed Sales Manager PDF

218 Pages·2006·3.08 MB·English
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of FUNDAMENTALS S A L E S M A N A G E M E N T for the NE WLY APPO IN TED S A L E S M A N A G E R MATTHEW SCHWARTZ AmericanManagementAssociation NewYork•Atlanta•Brussels•Chicago•MexicoCity•SanFrancisco Shanghai•Tokyo•Toronto•Washington,D.C. .................15673$ $$FM 11-23-0508:44:52 PS PAGEiii SpecialdiscountsonbulkquantitiesofAMACOMbooksare availabletocorporations,professionalassociations,andother organizations.Fordetails,contactSpecialSalesDepartment, AMACOM,adivisionofAmericanManagementAssociation, 1601Broadway,NewYork,NY10019. Tel.:212-903-8316.Fax:212-903-8083. WebSite:www.amacombooks.org Thispublicationisdesignedtoprovideaccurateandauthoritative informationinregardtothesubjectmattercovered.Itissoldwiththe understandingthatthepublisherisnotengagedinrenderinglegal, accounting,orotherprofessionalservice.Iflegaladviceorotherexpert assistanceisrequired,theservicesofacompetentprofessionalperson shouldbesought. LibraryofCongressCataloging-in-PublicationData Schwartz,Matthew Fundamentalsofsalesmanagementforthenewlyappointedsales manager/MatthewSchwartz. p. cm. Includesindex. ISBN0-8144-0873-7 1. Salesmanagement. 2. Management. I. Title. HF5438.4.S362 2006 658.8(cid:2)1—dc22 2005022936 (cid:2)2006AMACOM,adivisionofAmericanManagementAssociation,NewYork. Allrightsreserved. PrintedintheUnitedStatesofAmerica. Thispublicationmaynotbereproduced, storedinaretrievalsystem, ortransmittedinwholeorinpart, inanyformorbyanymeans,electronic, mechanical,photocopying,recording,orotherwise, withoutthepriorwrittenpermissionofAMACOM, adivisionofAmericanManagementAssociation, 1601Broadway,NewYork,NY10019. Printingnumber 10 9 8 7 6 5 4 3 2 1 .................15673$ $$FM 11-23-0508:44:53 PS PAGEiv C ONTENTS ACKNOWLEDGMENTS ix CHAPTER 1. Transitioning to Sales Management: New Responsibilities and Expectations 1 Goingfrom‘‘Selling’’to‘‘Managing’’ 1 UnderstandingtheCurrentSalesCulture 4 UnderstandingWhoIsontheCurrentTeam 8 TheChallengesofBeingonTwoTeamsatOnce 12 EmbracingChange 15 TheBigPicture—Short-andLong-Term 16 What’sNext? 18 CHAPTER 2. It’s All About Communication 20 ListeningSkills 20 TheTheoryBehindCommunicationStyles 22 TheOriginsofDISCTheory 23 TheFour-QuadrantSystem 26 HowRolesandSituationsAffectYourStyle 37 WorkingwithPeoplewithDifferentStyles 38 StrategiesforImprovingCommunications 39 RunninganEffectiveMeeting 42 PresentationSkills 45 CHAPTER 3. Sales Planning: Setting the Direction for the Sales Team 48 AligningtheCorporateStrategywiththeSalesTeam 48 WhereSalesFitsintheCorporateStructure 50 TheCustomer-CentricOrganization 51 v .................15673$ CNTS 11-23-0508:44:58 PS PAGEv vi CONTENTS Marketing’sRelationshiptoSales 56 CreatingaPlan 63 CharacteristicsofaGoodPlan 64 ContinuousPlanning 70 AssessingtheBusiness 70 CHAPTER 4. Time Management, Territory Planning, and Sales Forecasting 75 TimeManagement 75 TheArtofDelegating 80 SalesTerritoryPlanning 85 CHAPTER 5. Recruiting, Interviewing, and Hiring the Very Best 98 EnhancingYourCurrentTeam 98 DevelopingSpecificCriteriafortheSelectionProcess 99 OptimalSourcesforRecruiting 104 TheNumberOneRuleinRecruiting:ConstantlyRecruit 112 EnsuringaPositiveInterviewProcess 113 TheWrittenOffer 122 FiringIsInevitable 126 CHAPTER 6. Building the Environment for Motivation: Compensation Plans, Recognition, and Rewards 128 ClassicalMotivationTheory 129 SalesCompensationandIncentivesPlanning 140 BenefitsandtheTotalCompensationPackage 151 NonfinancialIncentives—RewardsandRecognition 152 CHAPTER 7. Training, Coaching, and Counseling: When and How to Apply Each 157 MethodsofTrainingBasedonLearningStyles 157 TheCoreConceptsofReinforcement 162 TheDevelopmentofWinners 167 .................15673$ CNTS 11-23-0508:44:58 PS PAGEvi Contents vii CoachingandCounseling 179 Goal-SettingSessions 179 CHAPTER 8. Stepping Up to Be a True Leader 187 TheCharacteristicsofaTeam 188 MatchingYourTeamwithYourCustomer’sTeam 190 TheEvolutionofaTeam 194 TimetoLead 195 INDEX 207 .................15673$ CNTS 11-23-0508:44:58 PS PAGEvii A CKNOWLEDGMENTS M any of us have heard the notion that sales is evident in so much of what we do, no matter what our career may be. Well, being a great manager and leader also fits into this category. My hope is that this book not only encompasses the core skills and behaviors that make up a great manager, but lessons and techniques that can be applied throughout your career, wherever it may take you. I would like to thank AMACOM, especially my editor Chris- tina Parisi and associate editor Mike Sivilli, for guiding me through the publishing process; it has been a rewarding one. I would also like to thank the many sales trainers I have come to know at the American Management Association, in particular Thomas Madden, who helped bring to fruition the current Fundamentals of Sales Man- agement seminar at the AMA. To Beth Potashkin, for your confi- dence in the success of this endeavor. Also, to my family and friends for your understanding during those long nights and weekends when my ringer on my phone was turned off. Finally, to anyone looking to engage in the writing profession: It is well worth the time and effort as knowledge sharing is what helps to make all of us better. ix .................15673$ $ACK 11-23-0508:44:59 PS PAGEix of FUNDAMENTALS S A L E S M A N A G E M E N T for the NE WLY APPO IN TED S A L E S M A N A G E R .................15673$ HFTL 11-23-0508:45:05 PS PAGExi A P T H 1 E C R T S RANSITIONING TO ALES M : ANAGEMENT N R EW ESPONSIBILITIES AND E XPECTATIONS C ongratulations! You have joined the ranks of sales management. This may even be your first experience as a manager. The good news is that you are not alone. Many resources like this book exist to learn from and help support your growth as a manager and a leader. You have climbed the sales ladder, have cultivated your skills, and are ready for a new challenge. You can probably imagine that transitioning into management is very natural for some and more like charting unknown territory for others. You have a whole new set of responsibilities, and at the same time, the expectations others have of you have completely changed. In fact, these new demands come from both your sales team and your management team. This chapter will walk you through some of the core issues and hopefully provide you with some comfort knowing that (1) many have been here before, and (2) success is well within your reach. GOINGFROM‘‘SELLING’’ TO‘‘MANAGING’’ While it is likely that you came from the world of selling, it is not a requirement. Sales managers typically choose management them- 1 .................15673$ $CH1 11-23-0508:45:06 PS PAGE1 2 FUNDAMENTALS OF SALES MANAGEMENT selves, but other times senior management chooses them because they are seen as well respected by their peers and they possess many of the necessary traits of a good manager and leader. So while un- derstanding the elements of selling are very important, what it takes to manage is a very different skills set. The following is a brief look at sales versus sales management and where they overlap. First it is necessary to understand what the ideal salesperson should look like. He typically exhibits the following behaviors and traits: Attentive Courteous Credible Driven Empathetic Engaging Enthusiastic Passionate Poised Presentable Results-Oriented Smart Good Listener Knows the Products Aggressive Articulate Furthermore, the truly well-rounded sales professional needs to possess four core areas of skills: 1. The communication and interpersonal skills necessary to carry out sales 2. A mastery of the sales process and how it relates to the busi- ness 3. Fundamental business competency 4. A solid understanding of the industry and marketplace Figure 1-1 depicts these four categories. On the other hand, the ideal sales manager has her own exem- plary characteristics and traits, including the following: Ambitious Caring Dedicated Driven Ethical Moral Passionate Patient Results-Oriented Supportive Smart Understanding Able to Help Motivate Collaborative Empathetic Strategic Ofcourse, whenyoucomparethese tothoseofthe salesperson, you will see many overlapping characteristics; yet look at them more closely, and you will clearly see areas of difference. Thefourcoreareasofskillsthattrulywell-roundedsalesmanag- ers must possess are: .................15673$ $CH1 11-23-0508:45:08 PS PAGE2 Transitioning to SalesManagement 3 Figure1-1. Thesalesskillsmodel. 1.Communication 2.Technical Skills Knowledge THE EXCEPTIONAL SALES PROFESSIONAL 3.Business 4.Market Acumen Experience 1. Critical management, communication, and team-building skills 2. The ability to lead into the future 3. An in-depth understanding of the business dynamics and competitive forces that impact the sales strategy 4. The core tools for building and managing accounts and channels of distribution Figure 1-2 illustrates these four categories. The interesting thing about sales managers is that they never fully remove themselves from the sale. ‘‘Selling’’ or ‘‘working’’ managers are good examples of this truism. For instance, in many companies, managers are expected to do just that—manage—while in other organizations managers are actually in charge of a certain number of accounts. They are expected to meet their ‘‘numbers’’ as well as ensure that their team does the same. This scenario is common with many smaller sales organizations .................15673$ $CH1 11-23-0508:45:09 PS PAGE3

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