During this episode I interview Bob Rickert, author and CEO of PCS Strategies. Bob has been selling for over 30 years. After selling for fifteen years ago he said to himself that he was “selling like all my competitors,” he had an epiphany that forever changed his life. He learned that to reap the greatest rewards from selling, he must help his customers achieve their ultimate goal—greater profitability.
When he did this, he achieved success beyond his wildest dreams. He wrote his book “Profit Heroes” and launched his company PCS Strategies. Both help companies build profit-centered sales teams dedicated to winning at the top, winning deals with the ultimate power of profit impact. Most of all, he is passionate about helping salespeople understand the power of delivering value for customers at every level.
Throughout our discussion today, we talked about principles from his recent book “Profit Heroes”. Here are some of the major takeaways from our conversation:
- To be successful in sales, you need to learn to solve problems for your prospects and focus on how you could help your customers make money.
- You could become successful in sales if you sell on profit improvement. The goal of most businesses is to earn revenue or make money. So as a seller, the most important questions to ask is “what can I do to increase the profitability of my customer?”
- Over the years we have had product selling, solutions selling and now sellers have to look for another way to position their product and services. This new way is to do so based on value.
- Learn to differentiate the impact that you are capable of doing. The only way this is possible is to sell on value. This will prevent you from falling into a price war and commoditizing your product or service.
- It is less about what you sell but more about the impact of what you sell. Many companies teach their sellers about their products and services, but not about the impact of what that product or service can have.
- When businesses are making decisions, they want to know three things:
- How can this help me grow my business?
- Will this product or service help me become more efficient?
- What is the return on investment for my business?
- By knowing your value, you will better understand how to price what you do!
- Always put yourself in your customers shoes.
Profit Heroes addresses a new “call to arms” that is transforming selling. To thrive in the future, salespeople must understand how customers are changing and what it will take to win. It is no longer about your company against mine, or your products and services against mine, or your know-how against mine. It is now all about profitability and the ability to identify it, quantify it, sell it and deliver it. To win you must be viewed by customers as more than “a vendor.” You must now become “an earnings contributor”.
The book offers a unique inside and emotional view of two competing salespeople who faced off in the pursuit of a big opportunity. Both represent great companies. Both are highly talented and successful. One wins and one loses. There is a classic competition you see every day in American business, and is what makes selling the most exciting profession in the world. The book unveils the strategies and approaches that the winner and all Profit Heroes use to achieve success.
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In my business, commercial real estate, there isn’t an option. You have to sell on value you add, not price alone. I think the sales person who focuses only on price is the one who will be left doing the smaller deals and never get the chance to excel in their market. Just my 2 cents. Good stuff Donald!
Travis! Thanks for the kind words. I totally agree. There is no other option if you desire to be a top performer. Great 2 cents 🙂