Book Review & Learning from:Book Review & Learning from:

““The Ultimate Sales Machine” The Ultimate Sales Machine”

by Chet Holmesby Chet Holmes

Chet worked and created magic in sales numbers initially for Chet worked and created magic in sales numbers initially for Charlie Munger… Warren Buffett’s partner. In this book, he Charlie Munger… Warren Buffett’s partner. In this book, he

has shared what he calls his 12 big secrets behind his has shared what he calls his 12 big secrets behind his success. success.

From a good book; you learn

From a great book; you act

• Knowledge, Skill and Attitude

• Do 12 things 4000 times; rather than 4000 things 12 times

• The difference between just ideas and implementation

• “Working on the business; not just in the business”

Current Climate for doing business

• 96 % of all companies fail within 10 years• 26000 new products and brand are introduced

every year• 16% -30% percent of consumers change brand

loyalty in one evening of watching commercials• 74 % of consumers buy outside their favorite

brands• 29% of consumers do not read a newspaper

Secret # 1. Time Management secrets of Billionaires1.1. Touch it once… only when you are ready to act on it. Touch it once… only when you are ready to act on it. 2.2. Make Lists… not more than 6 pending things on a list. Make Lists… not more than 6 pending things on a list. 3.3. Plan how much time you will allocate to each task… ideally the Plan how much time you will allocate to each task… ideally the

top 6 things must not take more than an hour each. top 6 things must not take more than an hour each. 4.4. Plan the day… in advance. And stick to it. Plan the day… in advance. And stick to it. 5.5. Prioritize… Prioritize… 6.6. Ask yourself “Will it hurt me to throw this away?”… keep your Ask yourself “Will it hurt me to throw this away?”… keep your

mind and work space clutter free. mind and work space clutter free.

†My personal experience… am My personal experience… am always hassled and going through always hassled and going through meetings, customer calls, pending meetings, customer calls, pending

items, etc at high speed. items, etc at high speed. †End the day tired and with an End the day tired and with an

even bigger list of pending items. even bigger list of pending items. †Miss some critical items and need Miss some critical items and need

reminders. reminders.

My action plan…My action plan…Create time table and Create time table and mark it on calendar mark it on calendar

(shared with team)… (shared with team)… and stick to it. and stick to it.

Deadline: From today Deadline: From today itself.itself.

Time Management(work smarter, Not Harder) page no 5

• 8 – 8.30 send client proposal and check mail • 8.30-9.00 review employee's time management lists• 9-10.30 review, revise and fax contract• 10.30-11 miscellaneous meetings• 11-12.00 review marketing plan• 12-1 lunch (with client or staff)• 1.30-2.00 conference call • 2-3.00 check mail• 3-5.00 Direct mail letter• 5 -6.00 check and respond to email

Secret # 2:Institute higher standards and Regular Training

“Only 10% of the population has what's called “the learning mindset”

1.1. What you inspect gets respected.  What you inspect gets respected.  2.2. The higher standards you set the more your employees and The higher standards you set the more your employees and

organization will live up to them – professionally & personally. organization will live up to them – professionally & personally. 3.3. Regular training is important, it’s a must to keep your team running Regular training is important, it’s a must to keep your team running

like a fine tuned machine that becomes more productive and efficient like a fine tuned machine that becomes more productive and efficient daily.daily.

†Improve makeover – Improve makeover – leading from the front. leading from the front. †Training Sets StandardsTraining Sets Standards†Training Makes Money…Training Makes Money…†Training Improves Training Improves confidence & attrition confidence & attrition control.control.†case study case study

My action plan…My action plan…Continue Continue

existing pace of existing pace of regular regular

trainings, trainings, increase increase

frequency as frequency as much as much as

possible. possible.

Secret # 3. Executing Effective Meetings 1.1. Focus on the three P’s… Planning, Procedures & Policies.Focus on the three P’s… Planning, Procedures & Policies.2.2. Use the expertise across the teams to improve a problem. Use the expertise across the teams to improve a problem. 3.3. Workshops (giving involvement rights to a lot more staff) give good Workshops (giving involvement rights to a lot more staff) give good

results.results.

†Workshops of the members of the Workshops of the members of the team to prioritize and decide action team to prioritize and decide action plan increase buy-in. plan increase buy-in. †Role playing it after documenting it Role playing it after documenting it relevantly creates practice and relevantly creates practice and confidence to implement across the confidence to implement across the team.team.†Monitoring the process creates Monitoring the process creates ownership.ownership.†Measure & Reward the outcomeMeasure & Reward the outcome

1. Continue existing practice.

2. Ruthless Execution

3. Ship can have only one captain.

Executing effective meeting

• Workshop – at office or at Home• Workshop – Leadership/Attitude/Idea/Direction of company

• For every six Question you will get six different answers

Secret # 4. Become A Brilliant Strategist90% executives are tactical… 9% are strategic… 1% the rare 90% executives are tactical… 9% are strategic… 1% the rare community of being a combination of both. community of being a combination of both.

Use education based approach for all clients… buy in is always Use education based approach for all clients… buy in is always higher.higher.

Think Strategic… Act Tactical. Think Strategic… Act Tactical. ““education –based marketing”education –based marketing”

Learn lesson from your self –Change Learn lesson from your self –Change /Dramatic improvement/Dramatic improvement

Market Data Market Data

Stadium SpeechStadium Speech

†Most sales people Most sales people think of only today, think of only today, this month, this this month, this quarter… the quarter… the challenge is to challenge is to make them think& make them think& then act for their then act for their entire future with entire future with this role. this role. †Build extensive Build extensive knowledge over knowledge over time. time. 1. Think Like an

Entrepreneur 2. Learn… Learn…

Learn! 3. More joint calls with

Seniors to watch demonstration of

experience.

The buyers pyramid3% buying now

6-7% open to it

30% Not thinking

30% don’t think they’re interested

30% know they’re not interested

A GOOD STADIUM PITCH1. Gets more buyers interested 2. Positions you as an expert

3. Helps sell your services more effectively

Secret # 5. Hiring Superstars DDominance – These people are dominant.  Their ego’s are a big part of ominance – These people are dominant.  Their ego’s are a big part of their lives… their lives… IInfluencer – High influence people love people, they are naturally nfluencer – High influence people love people, they are naturally empathetic, easily putting themselves in other people’s situations and empathetic, easily putting themselves in other people’s situations and understanding their points of view.understanding their points of view.SSteadiness – With these types of people it’s about how patient and teadiness – With these types of people it’s about how patient and thoughtful you are.thoughtful you are.CCompliance – These people are about structure and organization and ompliance – These people are about structure and organization and they always plan ahead.they always plan ahead. Personality profiling or Behavioral Personality profiling or Behavioral assessment assessment

†Conduct interviews Conduct interviews by creating situations by creating situations to check relevant to check relevant quality.quality.†Sales people are Sales people are ideally high scorers ideally high scorers on the first two on the first two points.points.†Interview must have Interview must have focus on softer focus on softer aspects and not just aspects and not just technical expertise… technical expertise… use Relax… Probe… use Relax… Probe… AttackAttack†Manage existing Manage existing team members team members keeping this truth in keeping this truth in mind. mind.

1. Encourage people to have their own minds.

2. Give chance to people to live a little on their own, don’t expect to subdue a

high potential. 3. Reward success regularly

& celebrate victories.

Hiring superstar

• Ambition• Confidence• Ability to face rejection• Qualifying skills• Ability to create desire in your prospects• Closing skills• Time management• Presentation skill• Strategic thinking• Market knowledge• Self improvement

50% of the Sales guys don’t call after first rejection.  Only 4% - 5% keep trying after 4

rejections.  Hence train the sales staff on the first day that they will face 8-10 rejections

• Now build in procedures that require sales people to try again,again,again ….in fact I build in 12 attempts that salesperson will make and I educate the salesperson in advance that the client will say no at least 8 times. They are trained on the first day of job that they are going to go after the client 12 times, even after the client has said no every time

Tata sky

Secret # 6. The High Art Of Getting The Best Buyers

1.1. Identify the Top 100 clients (consider this to be just a number) that Identify the Top 100 clients (consider this to be just a number) that one would like to have & just pursue them with absolute one would like to have & just pursue them with absolute pig headed pig headed discipline & determinationdiscipline & determination

2.2. Invest full energies (and costs) behind this desired target audience Invest full energies (and costs) behind this desired target audience only to produce thereby far more profitable business returns.only to produce thereby far more profitable business returns.

3.3. Build a great dream 100 program or strategy Build a great dream 100 program or strategy 4.4. Get affiliated with names (or product segments) that would attract Get affiliated with names (or product segments) that would attract

potential list of customers. potential list of customers. 5.5. Create opportunities for referrals… Give the best possible value to Create opportunities for referrals… Give the best possible value to

your customers to ensure that they invest in your business with your customers to ensure that they invest in your business with names of potential clients. names of potential clients.

†Make sure that the Make sure that the target customer being target customer being pursued is clearly the one pursued is clearly the one who has the potential – who has the potential – Pareto’s principle. Pareto’s principle. †Speak products & Speak products & services that are services that are appealing & not simply appealing & not simply templates. templates. †Tie ups with relevant Tie ups with relevant names / services for names / services for ensuring recall & ensuring recall & permission to enter. permission to enter.

1. This thought is instilled in the team & is being

constantly reiterated. 2. All large customer calls

are being accompanied by Supervisors as much as

possible. 3. Advisory team has to

constantly find newer product opportunities to

suit the Target Audience. 4. Actively source referrals

from happy clients.

Secret # 7. The Seven Musts Of Marketing

Seven ways to have an effective marketing Seven ways to have an effective marketing campaign and presence in the market.campaign and presence in the market.

1.1.AdvertisingAdvertising2.2.Direct MailDirect Mail3.3.Corporate Literature: brochures and Corporate Literature: brochures and

promotional piecespromotional pieces4.4.Public RelationsPublic Relations5.5.Personal Contact: Salespeople and customer Personal Contact: Salespeople and customer

serviceservice6.6.Market Education: Trade shows, speaking Market Education: Trade shows, speaking

engagements, education based marketing.engagements, education based marketing.7.7.Internet: websites, email marketing and Internet: websites, email marketing and

affiliatesaffiliates

Secret # 8. The Eyes Have it

85% of information which goes to brain enters through the eyes   We remember 20% of what we hear, 30% of what we see but 50% of what we hear and see

Training requires continuous repetitionUsage of colors & visuals makes the impact much larger in a presentation made to prospects or clients. Keep some basic rules for every presentation…

Fast paced Fast paced presentationpresentation

Use WOW Factors!Use WOW Factors!Use story telling Use story telling methodsmethods

†A lot of our A lot of our presentations presentations are drab & are drab & made by made by people without people without true passion. true passion. †Result is that Result is that keeping one’s keeping one’s motivation by motivation by deriving deriving energy from energy from person in front person in front is difficult. is difficult.

1. Role plays on calls to be continued.

2. Rework on our presentation material.

3. Keeping people light headed in office to encourage humour

creation & dissemination.

“ Maturity is when all your mirrors turn into windows”

Compelling Visuals and Presentation strategies

Content

• KISS• KIFP• Wow facts and statistics• Build stories• Increase curiosity• Write headlines• Be confident; not

obnoxious• Focus on them; not you

Communication• Voice of authority- tele-callers

and RMs• Don’t thank for time• Body language• Stand; don’t sit• Focus; don’t get waylaid by

questions• Add value; don’t read• Know what comes next• Use humor• Practice

Secret # 9. The Nitty Gritty Of Getting The Best Buyers1.1. Choose your Dream 100Choose your Dream 1002.2. Choose some gifts… cheap but relevant & one that will be Choose some gifts… cheap but relevant & one that will be

retained.retained.3.3. Create the Dream Letters… create the curiosity and the important Create the Dream Letters… create the curiosity and the important

feeling.feeling.4.4. Create the Dream Calendar… create the regular schedule plus Create the Dream Calendar… create the regular schedule plus

important dates.important dates.5.5. Conduct the Dream 100 phone calls… confidence thy name is Conduct the Dream 100 phone calls… confidence thy name is

King.King.6.6. Present the executive briefingPresent the executive briefing7.7. Surveys/feedbackSurveys/feedback

1. Manage content of all communication more

effectively to keep customer interest alive.

2. Enclose a small but meaningful attachment,

maybe the latest research report with an inexpensive

gift.

Secret # 10. Sales Skills

1. Establish Rapport, 2. Qualify The Buyer (Find the Need)… what are our customers

looking for? How do they find it in us? What will be the BIG thing for which they will buy our product?

3. Build Value… do a detailing of our strengths. 4. Create Desire… build it up. Then aim & shoot.5. Overcome Objections… preemptively. 6. Close the sale… testing understanding & aiming for the kill. In

words, no assumption.7. Follow up…

1. Role Play2. Role Play3. Role Play

Secret # 11. Follow Up & Client Bonding SkillsAfter a prospect / client has been met, ensure that occasions of After a prospect / client has been met, ensure that occasions of bonding are created. bonding are created.

1.1. Focus on the first letter after the sale (include some personal Focus on the first letter after the sale (include some personal tidbits to keep the tidbits to keep the

2.2. Your ultimate GOAL is that all of your biggest clients Your ultimate GOAL is that all of your biggest clients also become your best FRIENDSalso become your best FRIENDS energy going)energy going)

3.3. Follow up call… warmth & some news are to be part of this. Follow up call… warmth & some news are to be part of this. 4.4. Share something amusing or of personal interest to the client.Share something amusing or of personal interest to the client.5.5. Make a plan for a meal, party or some such social gathering.Make a plan for a meal, party or some such social gathering.6.6. Offer to help on business… maybe research of competitor.Offer to help on business… maybe research of competitor.7.7. Send more communicationSend more communication8.8. Involve family in some form.Involve family in some form.9.9. More communication.More communication.10.10.More help on client’s business.More help on client’s business.11.11.Invite or get invited home… Invite or get invited home…

1. Execution challenges

2. Customer Engagement

Matrix3. Genuinely love

your work & your clients.

Secret # 12. All Systems Go

†In order to make all of this as successful and beneficial as possible In order to make all of this as successful and beneficial as possible you need to set goals, measure effectiveness and activate your you need to set goals, measure effectiveness and activate your master plan.master plan.†Be sure to track and follow what’s working and what’s not, keep Be sure to track and follow what’s working and what’s not, keep what’s working and dump what’s not.  what’s working and dump what’s not.  †Spend time giving more value than you are getting paid in return.  Spend time giving more value than you are getting paid in return.  †Develop personal relationships with business clients to build Develop personal relationships with business clients to build loyalty with them so that they want to continue doing business with loyalty with them so that they want to continue doing business with you.you.†Create Contests measuring key success areas to keep excitement Create Contests measuring key success areas to keep excitement going.going.

Goal –Writing Workshop• Goals

1. 5 lifetime

2. 5 annual goals

3. Desired annual income for next 5 years

4. Three things you’ll do each month to improve your company/department

5. Three things you’ll do each month to improve performance

6. Three things you’ll do to make yourself happier and healthier

Setting goals and measuring effectiveness

Page no 232

• RAS (Reticular activating system)– “ Never go to sleep without a request to your

sub-conscious”– Strings of steel– Focus on the positive

• Sales affirmations– “ I love PR”!

“ Finally; the 4000 hour rule”

Don’t do 4000 things; but do 12 things 4000 times

Read, Review, Reflect

Thank You

• Hitesh Mali

• 09825211198

• malihitesh71@gmail.com