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The downfall of many sales managers occurs because they do not understand the underlying reasons behind poor performance.
Fear and anxiety is the one constant that you can count on with sales people. It finds it’s way into everyday activities and at times paralyzes the whole sales team. It honestly is not something that is readily dealt with because most sales managers do not recognize it, and the rest do not know how to deal with it. It is the natural fallout of being in a job where your every move is measured by everyone daily, your success or lack of success is known to everyone in the company. This alone creates enough stress to bring on the fear and anxiety. I found the only way you can deal with it as a sales manager is first to recognize it is happening and then making joint calls to build the confidence of the salesperson. I found it is not so much a training issue but more of a confidence building and empowering my people and letting them know I was in support of their efforts.
The question is, how to use the concept to develop training and then selling it to a world that is measured daily with hard facts.
Adding Value is the Key: The salesperson’s day is filled with Fear and Anxiety. Every time he or she meets someone for the first time there is an element of fear. The only way he can overcome that is to be clear, confident and very prepared to demonstrate he can bring value to that person they are meeting for the first time.
A New Research Study of Fear and Productivity Among Salespeople
Herb Kessner, Ph.D.
Those of us who are engaged in selling services and products, or are attempting to attract grant-funds, loans or equity capital in this economy know how challenging it is. We have our work cut out for us.
Our financial markets are stabilizing and business in general is staging a comeback from the recent sharp downturn. But this is not happening uniformly. While some organizations are well underway with new strategies and competencies, some are still catching up.
Whether we are “officially” salespeople, entrepreneurs, non-profit directors or work for a firm engaged in any form of customer contact, when we are communicating the advantages and benefits of our services; we are selling.
A New White Paper with Implications
Individual salespeople react to fear and anxiety differently. The research study upon which this white paper is based shows some surprising conclusions, with implications for both individuals and sales and marketing leadership.
The goal was to find out, scientifically, how anxiety and fear affected the day-to-day sales calls, contacts and success of the professional salesperson.
The Sales Leader’s Dilemma
It is a given that a sales team’s productivity metrics fit a bell-shaped curve. Some are outstanding, some not so successful, and many falling into the middle. The job of the sales leader (or for ourselves) is to somehow skew the curve to the right. The sales training dollars spent on resulting revolving-door policies extend into the $Billions in the US alone.
It is our hope that this study will help save money and increase the level of success and self-esteem among salespeople and all of us that connect with the client.
Take a look at the Paper on the Value Staging Website, let us know what you think, and most importantly, tell us your own experiences.
J. Jordan Scott
J Scott Law Firm, Boston
Intellectual Property is often one of the most important assets that a business possesses. Particularly in startups or early post-revenue stage firms, the “special sauce” tangible or intangible product developed by the entrepreneur can be synonymous with the net worth of the company.
In scenarios wherein the owner wishes to sell all or part, merge or acquire funding, it is critical to have the intellectual property assets identified, valued and protected. For the buyer or investor, this becomes a key part of the due diligence & risk assessment process.
The term “intellectual property” is broad, covering patents, copyrights, trademarks, trade secrets, and other forms of creative expression. The purpose of this article is to provide an overview of intellectual property, along with a brief discussion of ways to protect such property.
Of all intellectual property, patents are the most complex, and arguably the most important. Any reader who believes they have a patentable invention should consult with a qualified patent attorney at their earliest convenience, as being “first” matters. In order to secure a patent, an invention must be useful, new and non-obvious to an average person.
Specifically, there are three categories of patents: utility, design and plant. Utility patents cover new and useful processes, machines, or improvements. Design patents cover new, original ornamental designs. Plant patents cover new and distinct varieties of plants. While any individual is permitted to file a patent application, the law is complicated enough that a professional should be consulted. It is important to note that nearly all patent lawyers practice solely patent law; due to the highly technical nature of patents there are few general practitioners that handle patents, and any attorney claiming to be such should be viewed cautiously.
Copyright Law provides legal protection to the creator of a work of creative expression created in a tangible medium (books, magazines, websites, etc.). However, copyright protection is not available for ideas, concepts and algorithms (although a patent may be available). Technically, copyright protection attaches when the work is created. However, in our modern, litigious society, it is advisable to seek formal copyright protection within a few months for first publication, and before any infringement. An important caveat is the concept of “fair use.” Copyrighted material can be legally used by other parties in certain circumstances, such as for criticism, parody, in a news report, or incidentally. A qualified copyright attorney will be able to advise when and how fair use should be interpreted.
Trademarks are distinctive words, phrases or logos that identify the source of a product or service. Trademarks should be formally registered as soon as possible to ensure legal protection. A qualified attorney will be familiar with trademark law and be able to advise a client through navigating the trademark registration process.
One of the most important aspects of intellectual property is that of trade secrets. Trade secrets can also be difficult to protect, as there is no government agency to register the secrets with, as there are for patents, copyrights and trademarks. A trade secret is information that has independent economic value derived in part from not being known to the general public, and is also subject to reasonable efforts to maintain its secrecy. A classic example is the Coca-Cola formula. Many companies have trade secrets they wish to protect, but as stated above securing protection is not as straightforward as applying to a government office.
In order to fully protect trade secrets, companies must work to maintain this secret. This can be done in a variety of ways. All employees and independent contractors should sign a nondisclosure agreement (NDA) that will prevent those individuals from sharing the proprietary information that they have learned. Nondisclosure agreements are relatively standard and many are found in the public domain. A company should also safeguard the information by limiting access to those that need it, and keeping any documents (paper or electronic) in a secure location (a physical safe for paper documents; encrypted files for electronic).
With any intellectual property, the important first step is to identify what branch of intellectual property law applies, and then immediately take initial steps to secure legal protection.
Remember: The client can take many of the initial steps, but a qualified attorney should be consulted early on, especially when dealing with a patent or any questions or issues regarding IP protection.
Note: Value Staging LLC is not a law firm, does not practice law and any guest blog posts are solely the opinion of the author and are not to be construed as legal advice.