The Art of Selling When the (Economic) Going Gets Tough... Are You Gone? By Art Waskey 2008.01 In their August, 2007 Economic Newsletter, The Institute for Trend Research predicted, "Our general outlook for the US economy remains positive, but expect growth to be at a slower rate than what occurred in 2006. The trend of slower growth is expected to give way to mildly stronger growth in the second quarter of 2008. The next widespread recession is not expected to begin until early 2009."
After several years of strong sales, HOW do you prepare for a potentially, lower growth rate? Economic environment or the "next widespread recession?" Consider changing your sales strategy!
American business consultant Edwards Deming said, "It is not necessary to change. Survival is not mandatory. Does your current sales strategy prepare you for change" While you are waiting, consider how many of your customers closed their doors during the last economic downturn.
There are strategic actions you can implement to minimize the next troublesome phase of the business cycle:
1. Focus on Growth Industries: Utilities, pharmaceuticals, biotech, alternative energy sources, high tech, small but growing businesses are typically insulated from the impact of economic cycles. Create a sales development plan in these market segments by using the internet, association lists, business journals, etc.
2. Initiate Missionary Efforts into New Markets: Explore opportunities in markets that are creating new jobs. Business journals provide excellent insight as to who is hiring and what new businesses are moving into your markets.
3. Network: Join organizations that provide opportunities to meet new potential clients. Some of my best business contacts have come as the result of serving in these community service organizations.
4. Invest Time in Self-Development: Invest in yourself! Devote time to reading and upgrading your sales skills; purchase motivational books and CDs; be on the top of your game when others are demoralized. Contact me for a list of my personal favorites.
5. Develop Higher Prospective Call Ratios: Reduce allocated time and call frequency on existing accounts with poor growth potential. Introduce alternative methods for existing accounts such as online ordering, and better use of your inside sales department. Document and track market share gains: spend more effort penetrating competitive accounts.
6. Increase Customer Contracts: When business slows down, internal transition occurs; competitors are more likely to go after your customers. Signed contracts provide insulation and give you time to re-build relationships with new decision-makers.
Don't procrastinate! A paradigm shift is critical to be effective when times change; delays can literally be fatal! When other sales reps fear the uncertainties of force reductions, lower inventories, and reduced training budgets, you will be PROACTIVE, SELFASSURED, and SUCCESSFUL, even in the downturns!
Art Waskey is Vice President of Sales and Marketing for General Air Services and Supply Company in Denver, Colorado, and author of The Art of Sales in One Month. He can be reached via e-mail at awaskey@generalair.com.
Energy Initiatives A New Spin on the Old Bus 2008.01 Peace signs are back on clothing, dollar signs are on gas station marquees, everyone is talking about Green again, and one of the most memorable icons of the 1970s, the VW Bus, may have some competition. From Wales, there is word of a new bus streaking across a college campus ” a bus its creators hope to bring us all back to greener times.
According to a report by Business Wire, the 16-passenger bus which is powered by hydrogen fuel cells, electrical batteries and ultra-capacitors, has a maximum speed of 55 miles per hour and a range of 150 miles. The vehicle is the result of collaboration among several Welsh and international enterprises. Dragon Coachworks, a joint venture of two Welsh automotive companies, supplied the body of the vehicle and was responsible for converting the shell of the vehicle into a comfortable mini bus able to carry up to 16 people including disabled passengers. Hydrogenics of Mississauga, Canada, provided the fuel cell technology and assistance in developing the system. The Maxwell High Voltage Capacitors were developed by General Atomics Energy Products of San Diego, California. Yuasa Battery (UK) Ltd. of Ebbw Vale,Wales, a subsidiary of Japanese company GS-Yuasa, Corp., provided the lead acid batteries for the vehicle. The bus will go into service as an inter-campus shuttle at the University of Glamorgan in Wales this spring.
Business Wire decribes the new Hydrogen Bus as a “tribrid.” These vehicles are the third generation of alternative propulsion vehicles and combine three forms of power. We found two other examples of tribrids.
According to Autoblog Green Mazda engineers have placed a rotary engine in their Mazda 5 model, a small wagon that is in the US. The rotary engine can run on hydrogen or standard gas. Additionally, they have added an electric motor to the vehicle, making this a gas/hydrogen/ electric hybrid.
Mazda debuted its RX-8 RE hybrid with Renesis Hydrogen Rotary Engine at the 2003 Tokyo Motor Show. The Renesis is an electronically- controlled direct-injection rotary engine with a high-pressure hydrogen fuel tank. The RX-8 Renesis also runs on gasoline as well, making the Mazda car the first and only rotary hybrid as well as the first and only rotary hydrogen-gasoline hybrid in the world.
The Brazilian car maker Obvio has collaborated on a tribrid design vehicle with the UK’s Lotus Engineering. According to Edmunds Online, Obvio! has a 1.6-liter engine that can run on gasoline, compressed natural gas or ethanol and is expected to sell for about $59,000 in US dollars. Obvio reports that these cars achieve a fuel economy of 12.5 Km/Liter (29.40 MPG) in urban driving and 17.3 Km/Liter (40.69 MPG) during highway driving when equipped with ZAP Eco-Flexible Super Ultra Low Emission Vehicle (SULEV). According to Edmunds.Online Zap!, an unofficial distributor of Smart cars in the United States that also sells Chinese electric cars, has already signed a $700 million prepaid contract to obtain 50,000 Obvio cars per year starting in 2009.
