Tag: business tips

Why Activity and Accurate Calculations are Vital

Posted on | by Sienna

What happens to a sales leader who submits bad forecasting? A POSITION I NEVER WANT TO FIND MYSELF IN!!!

The consequences for a sales leader who consistently submits inaccurate or bad forecasting can vary depending on the company, its policies, and the severity of the forecasting inaccuracies.

Performance Reviews: In many companies, sales leaders are evaluated based on their ability to meet or exceed sales targets, and accurate forecasting plays a significant role in this. Consistently submitting bad forecasts that lead to missed targets will result in negative performance reviews, which could impact bonuses, promotions, or job security.

Reprimands and Warnings: The sales leader will receive formal reprimands or warnings from higher management or HR if their forecasting inaccuracies are affecting the company’s performance and financial results.

Loss of Credibility: Repeatedly providing inaccurate forecasts WILL erode the sales leader’s credibility within the business, making it difficult to gain trust.

Coaching and Training: Some companies may offer additional coaching, training, or support to help the sales leader improve forecasting skills (if you are lucky!!!). 

Reassignment: If the forecasting inaccuracies have a significant negative impact on the company’s performance, the sales leader may be reassigned to a different role within the business, potentially with reduced responsibility (if you are lucky!!!!).

Termination: Let’s face it, persistent and severe forecasting inaccuracies that have a substantial detrimental effect on the company’s financial health and reputation most likely will lead to the termination of employment. Aside from the obvious “self-preservation” motives, accurate forecasting is vital for the business. If your sales teams forecasting is not accurate it will have negative consequences for you and your business.

Revenue Shortfalls: Inaccurate sales forecasts will lead to revenue shortfalls if the actual sales results fall significantly short of what was predicted. This will impact the company’s financial stability and profitability.

Overstock or Understock Issues: If you as the leader submit overestimated demand, it can result in overstocking of products, tying up capital in excess inventory. Conversely, underestimating demand can lead to understocking, causing missed sales opportunities and customer dissatisfaction.

Resource Misallocation: Poor sales forecasting will lead to misallocation of resources. For example, if your business invests heavily in production or marketing based on over-optimistic forecasts, it may lead to wasted resources and increased costs.

Inventory Costs: Inaccurate forecasting can result in higher carrying costs for excess inventory or increased costs for expedited orders to fill unanticipated demand.

Customer Dissatisfaction: If salespeople promise products or services that you cannot deliver due to inaccurate forecasting, it will lead to customer dissatisfaction, damaging the company’s reputation and customer relationships.

Cash Flow Issues: Revenue shortfalls due to poor forecasting can affect a company’s cash flow, making it difficult to meet financial obligations.

Strategic Missteps: Poor sales forecasting can lead to misguided strategic decisions, such as expanding into new markets or discontinuing products prematurely based on unreliable data.

Loss of Credibility: If a company consistently misses its sales forecasts, it can erode the confidence of investors, lenders, and other stakeholders, making it more challenging to secure funding or support for future initiatives.

To mitigate these consequences, businesses often invest in improving their sales forecasting processes, utilising data-driven approaches, technology, and regular communication between sales teams and other departments to ensure more accurate and reliable forecasts. Additionally, ongoing training and coaching for salespeople can help improve their forecasting skills and accuracy.

Even the slightest miscalculation or wrong activity can have a catastrophic effect

One degree of latitude equals approximately 364,000 feet (69 miles), one-minute equals 6,068 feet (1.15 miles), and one-second equals 101 feet. One-degree of longitude equals 288,200 feet (54.6 miles), one-minute equals 4,800 feet (0.91 mile), and one second equals 80 feet.

Therefore, if I got on a plane from Sydney, Australia, to London, England and the pilot was out by one degree, where would I end up? It’s 10,559.57 miles or (16,993.98 km). 

If you were one degree to the north of your intended course, you might end up in a location somewhere to the north of London, such as Scotland or another part of the United Kingdom. If you were one degree to the south of your intended course, you might end up in a location to the south of London, possibly in France or another part of Europe. 

Sydney to London Travel route.

Consequences of a slight miscalculation: 

Miscalculations can be disastrous. From bridges collapsing, buildings leaning to one side, machinery malfunctioning, and significant financial loss, the consequences of miscalculations can be catastrophic. 

Importance of accurate calculations: 

  • Essential for the safety and reliability of products
  • Fix small issues before they become major problems
  • Avoid issues arising
  • Avoid financial losses 

Some Notable Examples of Slight Miscalculations having Catastrophic Effects 

Mars Probe Lost due to simple Mathematical Error

NASA lost its $125-million Mars Climate Orbiter because spacecraft engineers did not convert from English to metric measurements when exchanging critical data before the craft was launched. 

A navigation team at the Jet Propulsion Laboratory used the ‘millimeters and meters’ in its calculations, while Lockheed Martin Astronautics, who designed and built the spacecraft, provided vital acceleration data in the English system of ‘inches, feet and pounds’.

Due to this, JPL engineers confused acceleration readings measured in English units of pound-seconds for a metric measure of force called newton-seconds. 

Mars probe lost due to mathematical error.

The Deepwater Horizon Oil Spill 

The Deepwater Horizon oil spill was a catastrophic failure that had long-lasting effects on the environment and livelihoods of thousands of people. On 20th April 2010, the oil rig exploded, killing 11 workers and causing one of the largest oil spills in history.

The cause of the disaster was traced back to faulty cement used to seal the well that was being drilled. The cement was not strong enough, and oil was able to flow through the well and into the ocean. The disaster was worsened by inadequate safety measures and equipment failure.

This disaster acts as a reminder of the importance of safety measures and high-quality materials. The use of lower quality materials, combined with insufficient safety measures, can result in catastrophic events with long-lasting consequences.

Oil spill acts as a reminder of the importance of safety measures and high-quality materials.

The NASA Challenger Explosion

The Challenger explosion was another devastating disaster in the history of space exploration. On the 28th of January, 1986, the NASA Space Shuttle Challenger exploded just 73 seconds after liftoff, killing all seven crew members.

The cause of the Challenger explosion was traced back to a rubber O-ring that failed to provide a proper seal in one of the solid rocket boosters. The design of the O-ring was flawed, and NASA had been warned about the danger of a devastating failure before the launch. Still, the launch went ahead, leading to the disaster.

The key takeaway from this disaster is the importance of proper design and thorough testing. If the O-ring was designed correctly, or had NASA listened to the warnings, the Challenger explosion could have been prevented. 

NASA

It’s important to recognise that while slight miscalculations or errors can have negative consequences, they are a part of the human experience and can often be corrected or mitigated.

It’s essential to learn from these mistakes, take corrective actions, and implement safeguards to minimise the likelihood of future errors. In some cases, attention to detail, quality control measures, and simply double-checking calculations can help prevent miscalculations and their potential consequences. 

Contact KONA today to discuss how we can help you avoid a miscalculation and keep your sales team on track! Call 1300 611 288 or Email info@kona.com.au

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Common Mistakes During a Negotiation and How to Avoid Them

Posted on | by Sienna

Why did the bad negotiator bring a ladder to the meeting?

Because they wanted to reach a “higher level” of agreement!

Don't let poor negotiation skills leave you in check.

Negotiations are complex and often challenging. The pressure in a negotiation can cause even the best negotiators to make mistakes. All successful managers and salespeople need to negotiate at some point or another, and it won’t make your job any easier if you don’t know how to negotiate effectively. For instance, you may be unable to solve problems that other negotiators can solve easily.

Negotiation Training can benefit your sales team by equipping them with the skills to secure better deals, build stronger relationships, improve profitability and avoid negotiation mistakes.

 We will look into 6 common mistakes made in negotiation and how they can be prevented.

Poor Preparation

As the old adage goes, “If you fail to plan you plan to fail.”

Just knowing what you want going into a negotiation is not enough. You need to plan and prepare. 

Going into a negotiation well prepared will make you feel more confident, and will allow you to demonstrate your knowledge of the topic.

Not to mention, you will be less likely to forget something if you are prepared.

A good rule of thumb is to include everything in the negotiation from the beginning. It’s a lot more difficult to add new conditions or demands once the negotiation has already taken place.

  • Practice your pitch
  • Clarify your reasons or arguments 
  • Think about what the other party is likely to say
  • Consider what you’re prepared to compromise on
  • Bring your notes with you

Failing to Build Rapport

Building rapport with your opponent in a negotiation is a strategic move that can significantly impact the outcome. It paves the way for more productive and cooperative negotiations.

You’re more likely to reach a mutually beneficial agreement if you establish a good relationship early in the negotiation process.

If you are unable to build rapport in a negotiation, you are less likely to be able to:

  • Establish Trust
  • Have open communication
  • Reduce Tension
  • Solve Problems
  • Overcome Deadlocks
  • Persuade

Poor Listening Skills

Poor listening skills in a negotiation can have detrimental effects on the negotiation process and its outcome.

To be a successful negotiator, you have to listen to the other person.

Avoid things like:

  • Interrupting
  • Ignoring what the other person is saying
  • Rushing or impatience
  • Being defensive

Good listening skills in negotiation can help you to learn what the other person wants and verify how far apart your positions are.

Not Establishing Your BATNA

Your “BATNA” or “Best Alternative to a Negotiated Agreement” should be established before you enter into a negotiation.

Your main goal in negotiation is to get what you want, but you also have to determine what your next-best alternative would be. This way, you can ensure you know when it’s best to walk away.

Having a BATNA means you can push harder during a negotiation, and potentially even get a better outcome than expected, because you’ve stayed open-minded.

Sellers BATNA and Buyers BATNA.

Making Assumptions

Another common mistake in negotiations is to make assumptions.

Making false assumptions in a negotiation can lead to:

  • Misunderstandings
  • Biased Decision-Making
  • Inflexibility
  • Missed Opportunities

Instead, go into a negotiation assuming that nothing is off the table – this way, you will have more options.

Focusing only on Price

Going into a negotiation focusing only on price is a negotiation mistake, because you risk backing yourself into a corner.

Of course, many negotiations, especially in business, have a monetary aspect. And price is important, but often, it is only part of a deal.

So, what else could you negotiate? Consider other factors such as:

  • Adding additional services
  • Improving contract terms
  • Timing
  • Quantity or Volume
Value vs. Price in a negotiation. Focus on value.

Successful negotiations require preparation and a clear understanding of what both parties aim to achieve.

Although you want to secure the best deal, negotiations are not just about winning. There are many other factors that come into play.

Next time you need to negotiate, consider if you could be making a negotiation mistake that may cost you your desired outcome.

How much is poor negotiation costing you? Contact KONA to discuss tailored negotiation training for your sales team.

Call 1300 611 288 or Email info@kona.com.au

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6 Good and Bad Assumptions made by Salespeople – Updated

Posted on | by Sienna

In sales, assumptions should be used as starting points for understanding the prospect’s needs and situation. However, it’s vital for salespeople to be adaptable and willing to adjust their assumptions based on the information they gather during the conversation. There are key skills salespeople can work on to help them make better assumptions and build stronger relationships with their prospects.

Too often people assume that in Sales, assumptions are bad. That itself is a bad assumption. A poor Sales assumption at that.

Assumptions are great. We need to make assumptions.

Assumptions assist us in setting a direction, they give us something to aim for or a place to go. But indeed, for every action there is an equal and opposite reaction. That is, we must remember, there are two types of assumptions in Sales. Positive and False.

An assumption is something we take for granted, and when this turns out to be false, we call it a false assumption. There are numerous false assumptions people in sales might make. For example, a salesperson might falsely assume that a client’s problems are easy to fix. Not to the client they are not!

So, with both positive and false Sales assumptions in mind, here we have gathered for you a list of 6 Good and Bad assumptions made by Salespeople, and how to turn those assumptions into result driven activity with serious ROI!

If you’d like to discuss how KONA can help you improve your Sales Team,

you can reach out about working with us here.

Positive Sales Assumptions

My Best Price Really is my Best Price

 When a client asks the question, “Is that your best price?” why do we reply, “Let me see if I can do better”? In KONA’s Negotiation Skills Workshops, we do an exercise where 80 percent of the participants caved when asked that question. You need to go to the negotiating table with the assumption that you are presenting your lowest price. But then again, why are you selling on price? Why aren’t you selling solutions? Make things happen!

Making assumptions can be a positive thing in sales.

This is going to be a Great Day

Eternal optimists are indeed wonderful to be around.

Everyday has something good in it! Why would you get out of bed if you did not believe this assumption?

“If I sell hard this month, it will grow my sales three months from now”. True. There is very little you can do to affect your sales this month. It is what it is. But what about the next few months?

You should be working on your sales three to six months in advance. String together three months’ worth of hard prospecting and combine it with the above “This is going to be a great day” assumption and you will have something to look forward to. That is, Sales! Make things happen!

THE PESSIMIST SAYS ½ Empty THE OPTIMIST SAYS ½ Full THE SALESPERSON SAYS “Let’s talk about the benefits of ice”

I don’t know everything

The sooner you acknowledge that, the smarter you already are. You can always, always, learn something new and improve your sales efficiency. No matter how well you are handling your time management, there is always time to grow your knowledge. There is always fat on that bone. However, this assumption is a curse every bit as much as it is a blessing.

"I am always doing that which I cannot do in order that I may learn how to do it. Pablo Picasso #Learn #Quote.

Just because you could work harder does not mean you should. As much as it is important to “not just sit there, do something!” it is also important to “not just do something, sit there!”. Everyone gets the same number of hours in a week. If you are being outsold by a competitor or even by someone in your office, a part of the reason why comes from the fact that the other salesperson is more efficient with their Sales time or is trying something new that they learnt. Go and make new things happen!

Negative or False Sales Assumptions

A bad assumption is a bad strategy.

My Customers aren’t happy with their business

Wrong. If they were not, they would have already changed. Your job is to help them see why it is worth doing things differently. Focus only on what is relevant, actionable, and valuable to your prospect.

Help them envision how your solution will get them to their goals with greater ease. Leverage what you already know about your customers to ask better questions, deepen conversations, and establish credibility. Build that Effective Communication!

Through Effective Communication, that is Quality Questioning and Active Listening, you can demonstrate familiarity with your prospects’ business, processes, industry, issues and challenges to set yourself apart from the competition. Experiment with creative ways to get your customers saying, “Hmmm, that’s interesting. I’d like to learn more.” Make things happen!

There’s no point leaving a voicemail message

Here is an eye opener – voicemails actually hold a lot of value. For many, voicemail is considered a black hole of selling and a waste of time. But you in fact can gain a lot by leaving a professional message. Instead of thinking that your words are falling into the abyss, why not make the assumption that you are auditioning for the job? Every word, every inflection, every nuance is being scrutinised. Now, instead of leaving a bland voicemail message or worse, just hanging up, you see voicemail as a chance to demonstrate your selling skills as well as your persistency. Better preparation yields not only a better sales call, it also results in a better voicemail. Make things happen!

Voicemails lead to call back statistics.

I hope I fill my Pipeline this week

Hope is Not a Sales Strategy! Nor is it a business strategy. Or a success story strategy.

It is not a strategy for anything that requires a result.

There is only one strategy for Sales, business, success, results – and that is ACTIVITY. Activity drives results. That is it. It is that simple.

The cost of follow up calls graph.

The more active you are the bigger and stronger your pipeline. The FOUR specific activities you need to look at immediately for your pipeline growth:

  1. A clearly defined Sales Process
  2. Spending at least three hours per month on Pipeline Management
  3. Training Sales Managers on Pipeline Management
  4. Implementing Power Hour
The old adage says when you assume, you make an “ass” out of “u” and “me.”

So, pick your correct assumption and make it work. The old adage says when you assume, you make an “ass” out of “u” and “me.” – that is crap. That only happens if you do not validate the assumption before you act on it. If you validate it, there are no asses, rather there is just two people (you and your customer) on the same page ready to make things happen.

Now go make things happen – start by getting your team ahead of the competition!

Contact KONA today on 1300 611 288 for a confidential conversation or

email info@kona.com.au

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The Best Australian Sales Training Providers according to Google

Posted on | by Sienna

Google, Google on the wall, who is the best Sales and Leadership Trainer of them ALL?

A great deal of research is conducted into many industries, but the Sales Training industry seems to be left to its own devices.

Unless the “unsuspecting” business leaders do the research that I have done below, they are potentially hiring people with no background or track record. Also, there are no governing bodies to help them.

Many so called “sales trainers” are people who couldn’t cut it and then decided to set up a “training” business. Most only last a few months, but long enough to do real damage to an important industry.

Determining the best sales and leadership training company can depend on your company's needs.

Determining the “best” sales and leadership training companies can be subjective and may depend on specific needs, preferences, and the industry you’re in. However, I can provide you with a list of 14 reputable companies in Australia along with some reasons why they are well-regarded:

KONA has a 5 star google rating with 25 reviews.

1. The KONA Group Australia – 5 Star Google rating with 26 reviews

kona.com.au

The KONA Group is Australian owned and is known for its 20+ years heritage of providing highly tailored Sales, Leadership, Negotiation, and growth effectiveness methodologies with real life experiences with fortune 500 companies.

2. SWISH Sales Coaching Sydney– 5 Star Google rating with 16 reviews

www.swishsalescoaching.com

SWISH sales coaching in Sydney claims to teach you the secrets to sales success using the techniques and strategies employed by the world’s top 1% of salespeople.

3. FranklinCovey Australia – 5 Star Google rating with 6 reviews

www.franklincovey.com.au

FranklinCovey is known for its time-tested leadership and personal effectiveness methodologies, such as the 7 Habits of Highly Effective People.

4. PD Training Australia – 5 Star Google rating with 4 reviews

pdtraining.com.au

Their purpose is to help your organisation provide training and development to its people that is on target, fun, retained and above all helps them achieve their goals.

5. Healthy Business Builder – 5 Star Google rating with 2 reviews

www.healthybusinessbuilder.com.au

Build a reputation on experience in business giving customers access to proven marketing and sales strategies that will grow a healthy business.
The main objective is to help/guide business owners to stay focused and remain on target, build networking and business skills, manage time more effectively, reduce stress and increase profit. Mandate is to give your company more direction in setting strategic goals.

6. SalesStar Australia – 5 Star Google rating with 1 review  

www.salesstar.com

SalesStar specialises in sales training and coaching, offering programs that aim to boost sales performance and revenue.

7. Institute of Managers and Leaders (IML) – 5 Star Google rating with 1 review

managersandleaders.com.au

IML offers leadership development programs and resources and is known for its commitment to promoting ethical leadership.

8. Dale Carnegie Australia – No Google reviews to refer to.

www.dalecarnegietraining.com.au

Dale Carnegie has a long history of providing leadership and sales training, with a focus on interpersonal skills, communication, and self-confidence.

9. Leadership Management Australia (LMA) – No Google reviews to refer to.

www.lma.biz

LMA offers a comprehensive range of leadership and management programs designed to develop practical skills and drive organisational success.

10. AIM (Australian Institute of Management) – No Google reviews to refer to.

www.aim.com.au

AIM is a well-respected institution that provides a wide range of management and leadership courses, along with networking opportunities.

11. Sales Ethos – No Google reviews to refer to.

www.salesethos.com.au

Sales Ethos focuses on sales training and consultative selling techniques to help businesses improve their sales processes and results.

12. RedSeed – No Google reviews to refer to.

www.redseed.com

RedSeed specialises in retail sales training, with a focus on e-learning solutions and improving customer service skills.

13. The Sales Edge – No Google reviews to refer to.

https://the-salesedge.com

The Sales Edge provides practical sales training programs that help sales professionals close deals and build long-term customer relationships.

14. ProSales Connection – No Google reviews to refer to.

www.prosalesconnection.com

ProSales Connection offers a range of sales training and consulting services, with a focus on lead generation and pipeline management.

The reasons why these companies are considered among the top sales training companies include:

  • Their track record of success
  • The quality of their training materials and methodologies
  • Experienced trainers
  • Their ability to tailor programs to meet the specific needs of their clients

Additionally, client reviews and testimonials play a significant role in determining their reputation in the industry.

Google reviews can help you to choose a training provider.

How do you choose a supplier?

To find the best fit for your organisation’s training or professional development needs, it’s important to conduct thorough research, consider your specific goals, and possibly consult with representatives from these companies to discuss your requirements in more detail.

Choosing the best sales training and leadership company is crucial for the success of your sales team and your business. Here are some steps to help you select the right sales training provider:

Identify Your Needs:

Before you start searching for a sales training company, assess your specific needs and goals. Determine what areas of sales you want to improve, such as:

  • Prospecting
  • Closing deals
  • Objection handling
  • Customer relationship management

Define Your Budget:

Determine how much you can allocate to sales training. Consider both the direct costs of training and the potential returns on investment (ROI) from improved sales performance.

Research Potential Providers:

Start by researching potential sales training providers online. Look for companies or individuals with a strong reputation in the industry.

Check Credentials and Experience:

Evaluate the credentials and experience of the trainers. Look for trainers who have a track record of success in sales or extensive experience in sales training.

Some testimonials about Training from the KONA Group.

Read Reviews and Testimonials:

Look for reviews and testimonials from previous clients. This can provide insights into the effectiveness and quality of the training programs.

Request References:

Ask the sales training company for references from past clients. Contact these references to get feedback on their experiences and results achieved through the training.

Assess Training Content:

Review the content of the training programs offered. Ensure that the training materials align with your specific needs and goals. Look for a comprehensive curriculum that covers all relevant aspects of sales and leadership.

Delivery Methods:

Consider the delivery methods used by the provider. Some training programs are delivered in-person, while others are offered online or through a blended approach. Choose the format that suits your team’s preferences and logistics.

Customisation Options:

Determine whether the training can be customised to address your unique challenges and industry-specific requirements. Customisation can make the training more effective.

Evaluate Support and Resources:

Inquire about the post-training support and resources offered by the provider. Will they provide ongoing coaching, access to materials, or additional resources to reinforce the training?

ROI Measurement:

Ask the provider how they measure the ROI of their training programs. A reputable provider should be able to provide a clear framework for tracking and evaluating the impact of the training on your sales team’s performance.

Conduct Interviews:

If possible, conduct interviews with the trainers or representatives of the potential training provider. This will give you a chance to ask specific questions and assess their expertise and communication style.

Compare the costs of different training providers.

Compare Costs:

Compare the costs of different training providers while considering the value and quality they offer.

Don’t simply choose the cheapest option, as quality and results should be the primary considerations.

Seek Feedback from Your Sales Team:

Involve your sales team in the decision-making process.

Get their input on the potential training providers and programs to ensure that they are comfortable with the choice.

Make a Decision:

Based on your research, evaluations, and budget considerations, make an informed decision on the sales training provider that best fits your needs.

Remember that the success of your sales training program depends on the quality of the provider and the commitment of your sales team to actively participate and apply what they’ve learned. Keep communication open and continually assess the effectiveness of the training to make necessary adjustments.

Things to be aware of when choosing a supplier:

The effectiveness of sales training providers can vary widely, and what is considered the “best” provider may vary depending on your specific needs and goals. However, here are some general pros and cons to consider when evaluating different sales training providers:

Be aware of pros and cons when choosing a sales training provider.

Pros:

Improved Sales Performance: Effective sales training can lead to improved sales skills, better closing rates, and increased revenue for your organisation.

Customisation: Many top sales training providers offer customised programs to meet your specific industry, company, and sales team needs.

Experienced Instructors: The best providers often employ experienced sales professionals and trainers who can offer valuable real-world insights.

Comprehensive Curriculum: Leading sales training providers typically offer a wide range of training topics, from basic sales techniques to advanced strategies.

Measurable Results: They often provide tools and metrics to track the effectiveness of the training, allowing you to measure the ROI.

Networking Opportunities: Some providers offer opportunities for sales professionals to network with peers and industry experts.

Continuous Learning: Many top providers offer ongoing training and support to ensure that sales teams continue to improve over time.

Cons:

Cost: High-quality sales training can be expensive, especially if you opt for customised programs or top-tier providers.

Time-Consuming: Sales training often takes time away from selling activities, which can impact short-term results.

One-Size-Fits-All: Some providers may have a rigid curriculum that doesn’t fully align with your unique sales challenges.

Resistance to Change: Sales teams may resist new training methods or approaches, leading to slow adoption and implementation.

Lack of Follow-Up: Even with excellent training, if there’s no ongoing support or reinforcement, the initial benefits may diminish over time.

Limited Industry Knowledge: Some providers may not have expertise in your specific industry, which can limit the relevance of their training.

Overpromising: Be cautious of providers who promise miraculous results or quick fixes, as sales improvement often requires ongoing effort and practice.

When you are looking for the best sales and leadership training provider, it’s essential to consider your organisation’s unique needs, budget, and long-term goals. Research, reviews, and referrals from other businesses in your industry can help you identify the best fit for your sales team. Additionally, make sure to assess the potential provider’s track record and success stories to ensure they can deliver on their promises.

Contact KONA today to discuss what we can do for your business. Call 1300 611 288 or

Email info@kona.com.au

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Sales Pipeline Funnel

The Importance of Sales Pipeline Management

Posted on | by Sienna

A sales pipeline allows you to track the sales process more effectively, but it also helps you plan and evaluate activities at each stage.

Sales pipeline management can provide insight into the sales process to examine what’s working and what needs attention.

Every part of the sales pipeline should be tracked and measured. Sales pipeline training is a crucial component of sales development and can offer several benefits to both individual sales representatives and organisations as a whole.

As a sales leader, pipeline management will give you an understanding into how well your marketing is working and where prospects are not converting.  It will also help you evaluate performance by members of your sales team.

By tracking each stage, you can evaluate the impact of your marketing.  If your inbound marketing efforts are failing to convert sales from qualified leads, it may indicate you need to change strategies or train your team on how to close.  If your salespeople aren’t converting sales qualified leads at the rate you need, they may need additional support.

Pipeline management will give you insight into how well your marketing is working and where prospects are not converting.  It will help you evaluate performance of your sales team.

What should an Effective Sales Pipeline do?

  • Identify and target weak points in each stage of your pipeline
  • Pinpoint areas where additional coaching or sales training can help
  • Understand and analyse why some deals didn’t close
  • Prepare for potential sales growth or downturns

Do you want:

  • Improved Sales Performance?
  • More consistency with sales numbers?

KONA’s Pipeline Management Training is the answer you are looking for. Let us tell you why.

 Enhances Your Sales Skills

The KONA Pipeline training programs will cover a wide range of sales skills, including:

  • Prospecting
  • Qualifying leads
  • Objection handling
  • Negotiation
  • Closing techniques

Salespeople can sharpen their skills and adapt to changing market conditions.

 Better Forecasting

With a well-trained sales team, organisations can more accurately forecast future sales revenue.

This helps in budgeting, resource allocation, and overall business planning.

Reduces Sales Cycle Length

KONA Sales training will teach techniques for moving deals through the pipeline more efficiently, potentially reducing the length of the sales cycle. This means faster revenue generation.

Customer Relationship Building

KONA’s Sales pipeline training emphasises the importance of building strong customer relationships. This will lead to higher customer satisfaction, repeat business, and referrals.

A sales pipeline will improve sales performance and provide more consistency with sales numbers.

Boosts Confidence

KONA Pipeline training will boost the confidence of your salespeople, which will have a positive impact on their interactions with customers. Confident sales reps are more likely to close deals successfully.

Give your Team a Competitive Advantage

Well-trained sales teams will gain a competitive edge in the marketplace. They are better equipped to:

  • Understand customer needs
  • Position their products or services effectively
  • Outperform competitors

 Reduce Turnover

Investing in the development of your sales team will boost morale and job satisfaction, potentially reducing turnover.

A stable sales team leads to more consistent sales results.

KONA’s sales pipeline training is a valuable investment for both sales professionals and your business.

It will lead to improved sales performance, increased revenue, and a more competitive position in the market.

Get help managing your Pipeline

KONA’s Pipeline Management Training: If you want to give your sales team a competitive advantage and teach them how to effectively manage their pipelines, you can find out more about working with us here.

KONA’s Services: If you’re a business leader and you would like to know more about the services that the KONA Group can offer your business, click here.

Meet our team: We have many consultants in the KONA Group, all experts in their field. Click here to meet our team.

Call KONA on 1300 611 288 or Email info@kona.com.au

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Why is my Sales Team ‘Busy’ but not Producing results?

Posted on | by Sienna

It’s easy for salespeople to get caught up in the daily whirlwind of activities and tasks.

They might appear busy, but the critical question for sales managers and leaders is whether their sales team is truly focusing on what is important. As a sales manager, your job is to ensure targets are being hit. When they aren’t, it can be one of your hardest tasks to find out why.  

So, what does it mean to be “busy” in sales, and what are some strategies for ensuring your salespeople prioritise what truly matters?

Garret Norris and John Wright of the KONA Group, Delivering a Sales Training Workshop

The Perils of being Busy

Busyness can be deceptive. Salespeople can spend hours each day on various tasks, e.g.

  • Answering emails
  • Attending meetings
  • Completing administrative work

Yet fail to make significant progress towards their sales goals.

This phenomenon, often referred to as the “activity trap,” can cause a decrease in productivity, frustration, and missed sales opportunities, the list goes on.

Why do salespeople fall into the busyness trap?

Lack of Priorities

Without clear priorities, salespeople will tend to focus on low-impact tasks while neglecting high-impact activities like:

  • Prospecting
  • Following up on leads
  • Closing deals

Overemphasis on Routine Tasks

Mundane and routine tasks can consume a significant portion of a salesperson’s day, leaving them with little time and energy for strategic activities.

Distractions

Constant interruptions, including unnecessary meetings and non-essential emails, can divert salespeople’s attention from what truly matters. Studies have shown that an average of around 84% of people get distracted at work, and the most common distractions include:

  • Emails
  • Phone calls/texts
  • Co-workers
  • The Internet

Ineffective Time Management

Poor time management skills can result in wasted hours and a sense of busyness without accomplishment.

Did you know that 63% of sales reps don't ask for the sale at the end of a sales conversation?

Focusing on What’s Important

To be successful in sales, you need to shift the focus from busyness to activities that drive results. Here are some key areas to concentrate on:

Prospecting: Identifying and reaching out to potential customers is at the core of sales.

Ensure that your sales team allocates sufficient time for prospecting activities, such as:

  • Researching leads
  • Making initial contact

Building Relationships: Building strong relationships with prospects and clients can lead to repeat business and referrals.

Encourage your salespeople to invest time in nurturing these relationships.

Effective Communication: Train your team to communicate effectively, whether it’s through phone calls, emails, or face-to-face meetings.

Clear communication can make all the difference in closing deals.

A quote on effective communication from Garret Norris, CEO of the KONA Group.

Product Knowledge: Statistics have shown that salespeople who have specific product education can sell up to 123% more than those without.

Salespeople should have an in-depth understanding of your products or services. A well-informed salesperson will undoubtably be able to address customer questions and objections more effectively.

Time Management: Teach your team time management skills to help them to:

  • Prioritise tasks
  • Allocate time to high-impact activities

Strategies for Ensuring Focus is on What’s Important

Now that we’ve established the significance of focusing on what’s important in sales, let’s explore strategies to help your salespeople avoid the busyness trap:

Set Clear Goals: Use S.M.A.R.T Goal setting – specific, measurable, achievable, realistic and timely sales goals.

This helps salespeople understand what they should or shouldn’t prioritise.

Invest in Training and Development: Invest in ongoing training to improve your team’s:

  • Sales skills
  • Product knowledge
  • Time management skills

A well-trained sales team is more likely to focus on what matters.

Use Technology: Implementing sales tools and technology that automates routine tasks, allows your team to spend more time on high-value activities.

Regularly Review Processes: Continuously assess your sales processes to identify bottlenecks and areas for improvement.

Streamlining processes can free up time for essential tasks.

Monitor Progress:

  • Keep track of your team’s performance through regular reporting and meetings
  • Provide feedback and coaching to ensure alignment with strategic goals

Being “busy” in sales doesn’t always equate to being productive or producing results.

Salespeople need guidance and support to prioritise what really matters.

You can help your sales team focus on what’s important and drive success in your organisation. Just remember that it’s not about how busy they appear, but about the value they bring to the table and the impact they make on your bottom line.

Contact KONA to discuss how our tailored Sales Training Programs can have a positive impact on your sales team.

Call 1300 611 288 or Email info@kona.com.au

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Does your Sales Team need Sales Coaching?

Posted on | by Sienna

Sales coaching is when an experienced Sales Trainer provides guidance and support to sales professionals to help them improve their sales performance and reach their full potential.

It’s a personalised and ongoing process aimed at enhancing sales skills, addressing specific challenges, and achieving personal and team goals.

A well-trained and motivated sales team can make all the difference between success and mediocrity.

One effective way to enhance your sales team’s performance is to engage with the best sales trainers for sales coaching. We’ll explore the significance of sales coaching and how to determine if your sales team could benefit from it.

The Importance of Sales Coaching

Sales coaching is a structured process aimed at improving the overall performance of your sales team. It involves providing guidance, feedback, and support to help sales professionals reach their full potential. Here are some key reasons why at KONA, we believe sales coaching is important:

Skill Development

An effective sales trainer will help to coach your team to acquire and refine essential selling skills, such as:

  • Effective communication
  • Objection handling
  • Negotiation
Garret Norris, CEO of the KONA Group delivering a training workshop.
Garret Norris, CEO of the KONA Group delivering a training workshop.

Performance Improvement

Regular coaching sessions can identify areas where your salespeople are struggling and provide targeted solutions to improve their performance.

Motivation and Engagement

Sales coaching boosts team morale and motivation by showing that the business invests in their growth and success.

The sales work is constantly adapting and changing. We also need to adapt to keep up with trends.

Adaptation to Change

The sales world is constantly evolving. Coaching helps salespeople adapt to:

  • New technologies
  • Market trends
  • Changing customer expectations

Consistency

Coaching ensures that all team members adhere to best practices and maintain a consistent approach to selling.

Signs Your Sales Team Needs Coaching

Now that we know the importance of sales coaching, what are some signs that indicate your sales team may benefit from coaching?

Declining Sales Performance

Have your team’s sales numbers been consistently falling? Is your team failing to meet targets? These are a clear indicator that coaching is needed.

High Turnover Rate

Having a high turnover within your sales team could suggest that they are not receiving the support and development opportunities they need to succeed.

Inconsistent Performance

Do some of your team members consistently outperform others?

Coaching can help bridge the performance gap and bring everyone up to a higher standard.

Resistance to Change

Salespeople who resist adopting new strategies, tools, or technology may require coaching to help them embrace change and stay competitive.

Lack of Confidence

If members of your team lack confidence in their abilities, it can significantly impact their sales results.

Coaching can boost their self-assurance.

The expected outcomes of Sales Coaching.

Difficulty Handling Objections

An inability to effectively handle objections from potential customers can hinder the sales process. Coaching will equip your team with better objection-handling skills.

Ineffective Communication

Poor communication skills can result in misunderstandings and missed opportunities. Coaching can enhance your team’s ability to communicate persuasively and empathetically.

Missed Sales Opportunities

If your team frequently loses deals they should have won, it may indicate the need for coaching to improve their closing techniques.

Implementing Sales Coaching

Once you’ve identified that your sales team needs coaching, it’s crucial to implement a structured coaching program

Assessment: Begin by assessing the strengths and weaknesses of each team member to tailor coaching sessions to their specific needs.

Set Clear Objectives: Define clear coaching objectives and goals to track progress effectively.

Provide Training: Invest in coaching training for managers or bring in external coaches with expertise in sales. All of KONA’s sales trainers have run businesses, led teams, built pipelines and managed accounts. We know that without sales, there is no business.

Regular Feedback: Conducting regular coaching sessions and providing constructive feedback will help your team improve continuously.

It's important to measure the results of sales coaching on your sales team.

Measure Results: Track the impact of coaching on sales performance and adjust the coaching program as needed.

Sales coaching is a powerful tool to enhance your sales team’s skills, motivation, and performance.

The first step is recognising the signs that your team may need coaching, the next step is to engage with a Sales Trainer to implement a structured Sales Coaching program.

Empower your salespeople to achieve their full potential and drive your

business to greater success.

Call 1300 611 288 or Email info@kona.com.au

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How can I promote Teamwork among Employees?

Posted on | by Sienna

I was delivering a team building workshop not so long ago to a group of leaders and we got into a little bit of a debate.

I was encouraging them to lead by example and create a team environment by encouraging and including ideas and input. During the debate one of the delegates said, “Oh for goodness’ sake, this is all about the Gen X and their entitlement, they honestly think we live in a democracy!”, I replied with “No, I believe that we must encourage an environment where we promote to old, there is no “I” in team”. The delegate said that they tried saying this but were met with “Ah yes… but there is an M and E in team…”

So, how can we promote Teamwork among Employees?… Well, consistency is one way, and we also need to make sure that we are not just talking the talk but… Well, you know the rest of this saying…

Tips to promote Teamwork among Employees

Teamwork is a critical element of a successful and productive workplace. When employees work together, it creates a positive work environment where more can be achieved.

The following suggestions are posed under the assumption that you already have the right people in each position on your team. The foundation of teamwork depends on hiring the right people and effective leadership. When teams work well together, an efficient workplace culture with problem solving abilities, inspiration and support is achieved. Being in an environment that works toward shared goals will empower employees and create a sense of belonging.

As a manager, it’s your responsibility to encourage teamwork among your employees. You will need to provide your team with the tools and guidance they need to reach their full potential. Here are 20 effective ways managers can promote teamwork in their teams.

Lead by Example

Set the tone for teamwork by demonstrating the behaviour and positive attitude towards working with others that you want to see from your team.

Your team pay a lot of attention to what you say and do. If you say one thing but do another, it can lead your team to feelings of frustration and mistrust.

Outline Roles and Responsibilities

It’s more common than you would think for a team member to be unclear on their role and responsibilities.

Every team member should have a comprehensive understanding of their role and what is expected of them within the team to minimise confusion and overlap.

Encourage Open Communication

Create an environment where employees feel comfortable sharing:

  • Ideas
  • Concerns
  • Feedback with their teammates

Foster Trust

It’s so important to build trust among team members in order to promote teamwork.

Encourage honesty and reliability to establish a strong foundation.

Teamwork leads to a successful and productive workplace. Working together creates a positive environment where more can be achieved.

Establish Common Goals

Align your team around shared objectives, making it easier for everyone to work together towards a common purpose.

Common team goals provide structure that allows you to measure progress of individuals and the group as a whole. 

Training and Development

Staff Retention rates rise by 30-50% in companies with strong learning cultures.

Improve your employees’ skills and knowledge by investing in their professional development. Staff who do not receive training typically produce less work and at a lower quality.

Celebrate Achievements

Acknowledge and reward both individual and team achievements to boost morale and motivation.

Celebrating success reinforces the motivation that will bring us to the next achievement.

Clear Expectations

Ensure everyone knows what is expected of them and the team.

This includes:

  • Deadlines
  • Performance metrics
  • Accountability
  • Flexibility

Inclusivity

Encourage diversity and inclusion, valuing the unique perspectives and contributions of each team member.

Inclusion in the workplace creates a sense of belonging that can lead to greater productivity and teamwork.

Team-Building Activities

Organise team-building exercises, workshops, or outings to help team members bond and build trust.

Studies have shown that employee satisfaction can increase by up to 50% when surrounded by people they are friendly with.

Provide Necessary Tools and Resources

Ensure your team has access to:

  • Technology
  • Resources
  • Information they need to collaborate effectively.

Offer Flexibility

Allowing some flexibility in work arrangements, when possible, to accommodate personal needs can improve employee satisfaction.

When employees are satisfied with their working arrangements, they are more likely to be productive and engaged, ultimately leading to team-cohesion.

Empower Decision-Making

Encourage team members to participate in decision-making processes, fostering a sense of ownership and responsibility.

Address conflicts and issues within the team as soon as they arise to prevent them from escalating.

Resolve Conflicts Promptly

Addressing conflicts and issues within the team as soon as they arise prevents them from escalating.

A good tip is to ensure your business has a clear grievance-resolution process in place. This can help to avoid conflict in the workplace and prevent any existing conflict among team members from escalating.

Encourage Knowledge Sharing

Create a culture of sharing knowledge and best practices among team members.

Knowledge sharing in the workplace promotes new ideas and innovation.

Regularly Assess Team Performance

Conduct regular performance reviews and team evaluations to identify areas for improvement.

Evaluating team performance allows you to avoid conflicts and misunderstandings, while also identifying areas for improvement, acknowledging achievements, and encouraging learning.

Provide Feedback

Offering constructive feedback can help employees understand how they can contribute more effectively to the team.

Cross-Functional Collaboration

Encourage employees to work with colleagues from other departments to broaden their perspectives and skills. By bringing together various perspectives and knowledge from different departments, businesses can support a more collaborative environment.

As a manager, you should watch for signs of burnout and support team members who may be overwhelmed.

Recognise and Address Burnout

Recent reports have found that 52% of all workers are feeling burned out. This is a 9% increase from pre-COVID.

Watch for signs of burnout and provide support to team members who may be overwhelmed.

Some of the signs of employee burnout include:

  • Emotional, mental, and physical exhaustion
  • Disengagement
  • Increased absenteeism
  • Higher sensitivity to feedback
  • Decreased productivity

Adapt and Evolve

An effective leader is flexible in their approach. They will adapt to changing circumstances and continuously seek ways to improve and promote teamwork.

The more you adapt and evolve, the more relevant you will be in your industry.

Adaptability allows you to overcome obstacles.  

Having a team that works effectively together is no easy task. It is an ongoing effort that requires commitment and dedication from business leaders.

Remember, “Hope is not a strategy”. By having a plan, you can create a productive work environment where your team can thrive, achieve their goals, and contribute to the overall success of the business.

Teamwork is not just a “buzzword”, but a vital element of a successful and harmonious workplace.

Contact KONA to discuss how our tailored training programs can add value to

your business.


Call 1300 611 288 or Email info@kona.com.au

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What is the key to a Successful Sales Pitch?

Posted on | by Sienna

Do you sell B2B or B2C?

Neither!!!

We sell H2H (human 2 human) – Be authentic!

Yes I’ll go on to tell you “How to suck eggs” but let’s not over complicate it!!!

If you are a salesperson, there is a good chance you will need to deliver compelling sales pitches to win over clients.

Leading up to a sales pitch, you may feel a mixture of excitement and nervousness for the “golden opportunity” to showcase your company’s product or service. However, you also know that success hinges on delivering a pitch that will captivate your potential clients.

What sets the best salespeople apart is the value they articulate in their sales pitch.

Successful sales pitch example:

The key to a successful sales pitch lies in effectively communicating the value of your product or service to your potential customer. We will walk you through some of the most essential elements to consider.

Understand Your Audience:

Before crafting your pitch, research and understand your audience’s:

  • Needs
  • Preferences
  • Pain points
  • Demographics

This will help you tailor your pitch to resonate with them.

Understand your audience so you can tailor your sales pitch to resonate with them.

Clear Value Proposition:

Clearly define the value your product or service offers. How does it solve a problem or fulfill a need for the customer? Focus on the benefits they will gain.

Engaging Storytelling:

Frame your pitch as a story that captures the customer’s attention and keeps them engaged.

Stories create emotional connections and make your pitch memorable.

Highlight Value, Not Features:

While features are important, emphasise the benefits the customer will experience.

How will their life be improved?

How will their pain points be addressed?

Address Objections:

Anticipate and address potential objections the customer might have. Be prepared to provide solutions or explanations to overcome these objections.

Use social proof to add credibility to your sales pitch.

Use Social Proof:

Share testimonials, case studies, or success stories from satisfied customers.

Social proof adds credibility and demonstrates that others have benefited from your offering.

Customisation:

Tailor your pitch to the individual customer’s needs and preferences.

Generic pitches are less effective than ones that show you’ve taken the time to understand their unique situation.

Build Rapport:

It’s important to establish a connection with the customer.

Building rapport creates a more comfortable environment and enhances the customer’s trust in you.

Create a Sense of Urgency:

Encourage the customer to take action by creating a sense of urgency.

You can use incentives to motivate people to make a decision. For example:

  • Limited-time offers
  • Exclusive deals
  • Impending benefits can motivate them to make a decision.
Optimise your sales pitch by creating a sense of urgency and including a call to action.

Call to Action:

Clearly state what you want the customer to do next.

Whether it’s making a purchase, scheduling a meeting, or requesting more information, a strong call to action is crucial.

Confidence and Enthusiasm:

Your energy can be infectious and make the customer more receptive to your message.

Confidence and enthusiasm can go a long way when presenting your pitch.

Listen and Adapt:

  • Pay attention to the customer’s responses and body language.
  • Be ready to adapt your pitch based on their reactions and any additional information they provide.

Practice and Rehearsal:

As the old adage goes, “Practice makes perfect.”

Practice your pitch multiple times to ensure you’re comfortable with the content and delivery.

Rehearsing will help you to sound more natural and less scripted.

Follow Up:

To demonstrate your commitment and willingness to assist after the pitch, follow up with the customer to answer any remaining questions and address any concerns.

Remember, a successful sales pitch isn’t just about pushing a product, but about building a relationship, solving a problem, and meeting the customer’s needs.

Flexibility and a customer-centric approach are key to achieving success.

Call 1300 611 288 or Email us at info@kona.com.au to discuss

tailored training options for your business!

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