How To Take Charge of Your Accounts and Increase Your Quality of Earnings

Quick! Print out a list of all of your accounts. Do it right now.
Did you print it? Probably not. After all, you know your list. You know your clients too, and besides, how could I say or ask anything that would be relevant to your specific list?
The reality is that after all my years in sales and as a sales coach, I don’t need to see your list to know that there is untapped information and potential there. It might be that no one ever showed you how to mine your list. Or, it might be a case of having forgotten how a few simple questions can keep you inspired to reach another level. Either way, there’s a tremendous amount of value in analyzing your list.
As you know, I’m a firm believer in the application of Pareto’s 80/20 principle. That means that if you have a list of 80 clients, 16 of them are in the 20%, providing you with 80% of your revenue. The other 64 clients aren’t.
With your top accounts, what do they have in common with each other? Is it their industry, location, or the way the company is structured? Are they all within a specific aspect of the industry that you have more expertise in? Why do you think they do business with you rather than your competitors?
When it comes to mining your top 16, think about the way their business is built and how they structured themselves. Then brainstorm/research for other businesses, companies, and organizations that mirror their setup. This will provide you with a list of more potential top 20% performers.
Make sure your top accounts really are profitable. There are times when the revenue they provide looks good until you dive into how much time, effort and work it’s costing you to consider them as one of your top 20%.
Don’t forget about your other 64 clients. Take a long look at each one of them to determine their long-term prognosis as being a good match for you and your list. Are there any with the potential of moving up and into your top 20%? If there are, consider how much time it would take to get them there. Are you willing to make the effort? If you aren’t, it doesn’t mean you should get rid of them as a client. It just means you can block the time you spend on their account off your calendar well into the future.
With the lower performing clients, maybe it’s time to consider another alternative for them—like inside sales. Could you hand them over to a new sales rep in your company? Obviously you can keep them, but you will be blocking off your valuable time to work on their accounts well into the future too. On the other hand, if you come up with a way to professionally and ethically let them go, you’ll have more time to pursue new accounts.
There’s always a balance to be struck in sales. We want to believe that our client list is structured with the necessary combination of clients who will help us reach both our sales and monetary goals. But business is always on the move—always changing.

When was the last time you went through your client list to make sure everyone on it is still performing in a way that supports their goals as well as yours?


Alan Luoma: I am a Sales Coach with extensive experience in industrial sales, sales management, new

product development, sales and product training. I work part time with a great national sustainable packaging company and their exceptional distributors to increase sales. My success has been and is in utilizing the Pareto 80/20 principal in business and life. I have become an expert in seeking out and eliminating behaviors that prevent business people from being successful. I am a member of The National Speakers Association and New England Speakers Association. You can view my profile on LinkedIn, or contact me at Luoma@snet.net 

3 Ways to Boost Your Time Management Effectiveness and Enjoy A More Fulfilling Life

There’s an old saying that if you want help with getting something done, ask a busy person to help you. Everyone knows at least one person like this – the person who always manages to cross everything off their list by the end of the day or week.

Part of their ability to consistently manage their time effectively is based on the fact that they have a system they follow. The better the system, like with the Pareto Principle which states that roughly 80% of our results come from 20% of our work, the more likely someone is to look like they just have a talent for managing their time.

Professionals have used this principle to mercilessly reschedule their time and whittle down their client/customer lists to build a stronger business platform. But truly rounded professionals have learned that this principle can be applied to their personal lives as well. From a strictly time management perspective, what activities are you participating in outside of work that have a positive impact on your life?

Would it surprise you to learn that the average person spends almost 5 hours a day in front of the TV? Perhaps, if the whole family is watching TV together, it could be called “family” time, but let’s not kid ourselves. Until we’re ready to take an honest look at the way we spend our time outside of work too, we will continue to miss opportunities for identifying the 20% of our activities that will bring us 80% of our happiness, relaxation, joy, love, sense of contribution, and peace. Here are 3 ideas that might help you identify your outside-of-work 20%.

1.  Make a list of all your family and friends and decide which category each person fits into. This can be tough to do, but asking and answering these questions will help. 

• If you knew you were going to die tomorrow, who would you pick to spend today with? 
• If you were going to live another 80 years, who would you want to spend all that time with?

2.  Remember that you are either in or out of someone else’s 20%. Sometimes we just assume we’re in simply because we’re family or a friend. But think about what you’re bringing to someone else’s table. Do your family and friends know how you feel about them? And even if you’re not great with saying the words, are you doing a good job of making sure the people you care about know you care about them? Anyone can add this to their busy schedule. It takes less than a minute to make sure someone gets the message that we care.

3. Make sure your work schedule includes enough time for you to enjoy your life right now. Even if you’re putting in long hours in at work for all the right reasons, there’s no greater regret than knowing that we willingly let the important people and moments in our lives slip by without a second thought.

The truly wonderful thing about waking up each morning is that it’s another opportunity to do a little bit better today, than we did yesterday. Broaden your perspective when it comes to your time management strategies and you will have every reason to smile, every morning.

Alan Luoma: I am a Sales Coach with extensive experience in industrial sales, sales management, new

product development, sales and product training. I work with a great national sustainable packaging company and their exceptional distributors to increase sales. My success has been and is in utilizing the Pareto 80/20 principal in business and life. I have become an expert in seeking out and eliminating behaviors that prevent business people from being successful. I am a member of the Hartford Springfield Speakers Network, The National Speakers Association and New England Speakers Association. You can view my profile on LinkedIn, or contact me at Luoma@snet.net

Get Ready,Get Set-Don't Go - Go 80/20

It feels like there are a million things coming at you, and they all have to be taken care of by you. They could be work related, family related, or some other kind of related, but now there are so many that you’re having trouble sleeping. You toss and turn in your bed while all the things you have to get done toss and turn in your head. You wake up tired, wondering for one fleeting second what it might feel like to start the day feeling good, but as you climb out of bed, the demands of the day take over.
And what will you do tomorrow? My guess is that you’ll wash, rinse, and repeat. 
I want to fill you in on a secret too many people learn to appreciate way too late in life. A vast majority of what you do is an absolute waste of time—your most precious and valuable resource. Time is not a commodity. Once it’s gone, there’s no buying or selling strategy that can replace it. There is no amount of money, fame, social status, or recognition that can suddenly produce an extra hour, day, or week.
On some level, we understand this and yet we still do things we know aren’t going to get us anywhere in the long run; like trying to impress the boss with how great we are, or getting the boss to openly acknowledge that we’re doing good work simply because we feel the need for a pat on the back.
Maybe promises have been made and now we’re in so deep that the idea of changing course is too frightening to seriously consider. Instead, we dig in deeper while trying to convince ourselves that everything will work out, and “It will all be worth it in the end.” I’m sure those were somebody’s famous last words.
The solution? Remind yourself of the 80/20 principle:

80% of your outcomes come from 20% of your inputs

That means:
20% of your relationships provide you with 80% of your joy. Decide which of your relationships comprise the 20% and start the process of stepping away from the rest. The difference between the two groups of people is easy to discern. The 20% lift you up while the 80% bring you down.
20% of your efforts at work will account for 80% of your results. Skip the meetings, reports, and customers that interfere with the 20% of your work that produces efficient and tangible results. You might be challenged at first, but if you’re truly narrowing your business down to the top 20, the results of your actions should speak for themselves.
20% of your investments give you 80% of your return. Is there a way to be more proactive with the less than stellar remaining 80%?
I could go on and on about all the ways applying this principle could change your life for the better, but I’d rather stop while this post still falls in the top 20%. So, the next time you’re starting to feel the stress of all those “things” coming at you, put aside a few minutes to take a good look at them and decide if they fit within your 80/20 profile. It shouldn’t take you anywhere near as long as it would if you were trying to do it while you’re sleeping.

Alan Luoma: I am a Sales Coach with extensive experience in industrial sales, sales management, new product development, sales and product training. I work with a great national sustainable packaging company and their distributors to increase sales. I have become an expert on seeking out and on eliminating behaviors that prevent sales people from being successful. I enjoy uncovering sales prevention departments that hinder a companies success. I am a member of the Hartford Springfield Speakers Network, The National Speakers Association and New England Speakers Association. You can view my profile on LinkedIn, or contact me at Luoma@snet.net

The Power Of Focus

If I asked you to write down ONE problem getting in the way of your success, could you do it?

It can be hard to narrow the field down to ONE specific problem because different situations present different problems. In business, the ONE problem could show up in a variety of forms: If my prices weren't so high, I’d have more sales. If I had more prospects, I’d be able to exceed my quota. They show up in life too: If only I was thinner, I’m sure I’d be happier. If I had gone to school for just one more year, I could get a better job…. You get the idea.

Trying to solve multiple problems at once is likely to result in a lot of stress and frustration, and very little progress. A better approach is to decide which problem is most urgent and pressing right now. Once identified, you can focus your time and energy on coming up with a plan to resolve the situation.

It sounds like it should be easy enough to do, so why don’t people do it?

·        Sometimes it’s easier to have a good excuse for a problem than it is to take action and do something about it. People expect less out of you when you have a really good excuse. Of course, the down side of excuses is that people probably won’t have as much respect for you—or your work.

·        Really good excuses make it easier for people to ignore thoughts and desires about having or getting more out of their job, or their life. If someone is not where they want to be, they don’t believe it’s because of anything they have or haven’t done. Instead, they blame a list of seemingly valid excuses for not being able to tackle the ONE big problem standing between them and their success.  

·        People don’t take the time to adequately identify the problem. When they don’t, they are not able to come up with an adequate solution. Instead, the problem becomes hidden behind a multitude of excuses that slowly and steadily begin to wrap their way around all of the other problems—even the ones that would have been easy to deal with.

So welcome to 2016. Is there ONE business or life problem you want to work on solving to make this new year your best year ever? Quite simply, it’s your choice. Either you decide to let excuses stand between you and your success, or you come up with a plan for stepping outside old and worn out comfort zones.

Identify your most pressing problem, come up with a plan for solving it, write your plan down RIGHT NOW, and carry it with you. Anytime you realize you’re about to start making excuses, reread your plan, and for goodness sake, follow it!

Alan Luoma is a Sales Coach with extensive experience in industrial sales, sales management, and sales and product training. He holds key accounts with a national sustainable packaging company, is a motivational speaker, and provides sales training to individuals and groups. He is a member of the Hartford Springfield Speakers Network. You can view his profile on LinkedIn, or contact him at Luoma@snet.net

Put a Model Week in Place to Maximize Efficiency and Effectiveness

 

There are only 24 hours in a day and as business owners having a model week can help make the most of your time. There are three kinds of days in a model week, Focus days, Buffer days and Personal days.

  

Each type of day is made up of 80% of your waking hours.

Focus days

These are the days that actually provide income to your business.

·       Presenting/speaking that you were hired for

·       Meetings with potential and existing clients, phone or in person

Buffer days

These are prep days and time to work on your business.

·       Paper work

·       Education, Research

·       Attend meetings to learn your craft

·       Business planning

·       Marketing – planning

·       Develop presentations

·       Take/return phone calls

Personal days

There is no work related activities of any kind on a personal day.

·       Time with family and/or friends

·       Alone time

·       Vacation

·       Personal appointments

When your business is new you will need more Buffer days and will have less Focus days in your week. Your goal should be to evolve in the shortest time possible to more Focus days in a week than there are Buffer days. The more focus days you have the better the bottom line to your business will be.

About Nancy D. Butler

Nancy, a national motivational speaker, business coach and award-winning author, has been quoted in many local and national publications including USA Today, Money Magazine, Playboy magazine, The Chicago Tribune, AARP and The Day and has been a speaker for major corporations such as Pfizer, General Dynamics and Dow Chemical. Nancy has also been a guest on several television and radio shows.

Contact Nancy for a free consultation at nbutler@aboveallelse.org. 

Time management

As busy as we are, it often seems the only way to get things done is to multitask. However, doing more than one thing at a time does not allow the ability to truly focus on doing each task as efficiently and effectively as it could be done. If time was allowed to truly focus on one task at a time it would help to alleviate this problem. Consider initiating a “model week”. Certain hours each day are set aside to do certain things. When necessary, the door is closed and no phone calls are taken to allow you to focus all of your attention on the task at hand. There are still of course times for multitasking, but the bulk of each day has a set plan and schedule to allow the focus time needed.

Watch for additional details on how to set this up in next month’s blog.

About Nancy D. Butler

Nancy, a national motivational speaker, business coach and award-winning author, has been quoted in many local and national publications including USA Today, Money Magazine, Playboy magazine, The Chicago Tribune, AARP and The Day and has been a speaker for major corporations such as Pfizer, General Dynamics and Dow Chemical. Nancy has also been a guest on several television and radio shows.

Contact Nancy for a free consultation at nbutler@aboveallelse.org.