Price-Quality-Service, Your All-or-Nothing Value Proposition

You recall the days of telling customers: “You can have price, quality or service, pick two?” Customers want it all. Quite frankly, they are entitled to make this demand. As sellers, we should be committed to delivering on their demands.

While not compromising on price.

Last week, I attended the SAE 2013 World Congress exhibition in Detroit as well as several networking events affiliated with the meetings. I spoke with manufacturing companies and engineering entrepreneurs about the state of their businesses, their competitive marketplaces, the place of innovation in their company culture, and whether selling and engineering continue to live in separate corporate silos.

For those of you who feel that spending 4+ hours a day with engineers is right up there with root canal, you are missing out on some of your most interesting, and demanding, prospective customers. For those of you who live in this space, as I have for my entire career, it’s been a roller coaster of a ride – especially since 2008.

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Are You Better at Doing than You are at Selling?

The seller-doer marketplace is demanding when it comes to fueling one’s revenue stream.  It is a world where everyone wears multiple hats, simultaneously. The person selling the products, services or platforms may not only bring the contract in-house, they may also put on their project management or engineering hat to create output. They woman wearing multiple hatscan find themselves in the role of customer service rep creating an interface between their customer and the rest of the staff. If production and assembly is shorthanded,  that same individual may roll up her sleeves to get the deliverables out the door. Then it’s time to put the sales hat back on once again, and hunt for more business.

That person may have the title of CEO.

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Business-Building Ain’t Easy Street. It’s Social.

If you are building your sales pipeline for your business or venture, you know by now that it is hardly a piece of cake (I wonder how that phrase is going to optimize on the search engines.) It takes constant work to identify and develop potential customers, while establishing your subject-matter expertise in specific areas of industry.

Even mature businesses can never sit back and relax and ease off on their sales, marketing, and engineering efforts. Once you are “there”, you need to stay “there”. Even when your company has moved beyond the early-adopters and tryers, and has gained mass market attraction. It’s still a matter of leveraging all the tools in your toolbox to maintain your toehold if not stronghold. [Read more...]

Something for Nothing Syndrome

How do you feel when people send you emails or call you, asking what you think about various topics? Do you feel flattered that someone is interested in your opinion? Will you showcase your expertise by going into all sorts of detail, far beyond the initial questions the caller asked you?

This is exactly what the person on the other end of the phone is hoping you will do.

They are taking notes as you regurgitate your intellectual property and engineering and sales know-how. You are providing them with free consulting. You are not relationship-building by demonstrating how much you know. It’s probably the one and only interaction you will have with these individuals. [Read more...]

Are You An Endangered Business or Engineering Species?

I was in Oahu for whale-watching season this year. What a sight to behold! Humpback whales migrate 3,000 miles each year from the Gulf of Alaska to Hawaii, returning each year to preserve their species.

It’s hard-wired into them, part of their DNA, physiologically and behaviorally.

The whales do the same thing, over and over again, expecting the same results.

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Stop Percolating. Start Producing.

It’s easy to focus on all our business development possibilities, rather than drilling down on those which we – and only we – do exquisitely well. That’s why we have competitors: they focus on producing deliverables more efficiently than we do, in spite of their deliverables not-quite-being what we would have produced.

Probably because our competitors are not half as creative as we are.  Probably because they realize this and focus on what they are capable of producing instead of bemoaning the fact that they can’t do it like we can.

After all, if they can get deliverables out the door into customers’ hands, who knows the difference? [Read more...]

How Inexperienced are You?

If you are nearing graduation, you may be contemplating what your first job is going to look like. If you already are part of the workforce, perhaps, you take that stroll down memory lane from time to time, thinking about the type of job functionality you were prepared to assume way back when you graduated.

 Let’s face it. You really didn’t know squat, even though you thought you did.

You may have been well-educated but you lacked the professional experience to assume responsibility and understand exactly where you could add value.

 In other words, you learned on the job. You were inexperienced. We all are when we start out.

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Getting to “Aha”

The bulk of our business development efforts focus on developing relationships, consensus, dialogue, discovery and all of the stuff that gets the contracts signed, the deals done, and the projects delivered on time, under budget with zero defects.

To me, it’s all about those “aha” moments that occur along the way. I try to make them happen a lot. I encourage others on my teams to go for those “aha” moments first. Because they catalyze the rest of what happens in the process.

That’s when the magic happens.

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Celebrate Your Value

Forget about writing one more “to-do” list for 2013.  If you still are mulling over what you want to achieve during 2013, you are a bit behind the proverbial eight ball. Let’s talk about what you’ve already accomplished and why your professional accomplishments in sales and engineering now set the stage for your achievements in 2013.

We read so much stuff about always looking forward and never looking backwards. Why not look backwards as well? It’s not always done with regret. [Read more...]

Are You Just An App for Your Customers?

Business apps are great. They are convenient tools that get us the information we think we need, to increase the quality of our business lives.  Of course there’s the matter of deciding which tools to use.  In order to make that decision, we need to have a handle on how our business operates. We need to conduct some sort of needs assessment. We need to identify the type of information we need to gather in order to make that decision.

Or do we?

How about using that hungry sales person or overzealous engineer as our business App?

Have you ever thought about yourself this way, taking the perspective of many of the folks you are prospecting? Think about those conversations you have with them, either on the phone, Skype or via email. What is the nature of their responses to you?

Do they tell you: Show me more? How do you propose to do that? To which you response blah-blah-blah-blah. Because you have the solution for their alleged pain.

Except they really aren’t in pain.

Perhaps you receive a response to an email that goes something like: “We are in the process of evaluating several new vendors at this time. Please send us information so we can include you in our decision-making process.”  How do you feel? Could it be that you are jumping for joy and excitedly preparing a response full of details, facts, figures, design solutions, demos, and all sorts of what-not, in the hopes of positioning you and your company as the solutions-provider of choice for whatever it is that their company supposedly is making a decision about?

Except they are not making any type of decision at all. Not at this time, or any time. Gotcha! They are using you as their personal, business data-gathering App.  

In your eagerness to demonstrate your value to them as a resource, you are sending them the equivalent of “showing up and throwing up” demos, designs, data, information, pricing, you name it. You are throwing everything at your prospective customer, thinking that they will review all this stuff and somehow figure out how you can be the answer to all of their business problems.

Think about it. Does your strategy make sense? To you?

You are basically giving away your intellectual property to them, for free. You are their App. You are more responsive, and certainly less expensive, than their asking one of their interns to gather the same information. You are more responsive, and certainly less expensive, than their hiring a consultant to gather the same information for them.

And you provide your App services for free, mistakenly thinking it will result in business for you.

Once you provide all this information to customers and prospects, free of charge, are you expecting them to pay for your services? You are setting yourself, and your company, up as a commodity and a stereotype: hungry for business, willing to “do what it takes” to earn business. You may not be making the distinction between providing value versus throwing a multitude of data at a prospect.

In this fast-paced, globally competitive, first responder world of business development, you still may not understand the rules of engagement for customer acquisition.  No matter how “seasoned” you are.

Let’s make that a goal for us to explore, together, in 2013.

What are your business development concerns for the New Year?

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