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Donald Kelly, The Sales Evangelist Podcast, Negotiation, New Clients

TSE 462: If You Give, You Should Get

Donald Kelly, The Sales Evangelist Podcast, Negotiation, New ClientsDo you really appreciate the things you get for free? Not often, I don’t think so. Personally, I have wasted so many great things because I got them for free. There was no value tied to them. Is your prospect doing this same thing with you?

Today, we’re talking about VALUE and why you should not give away everything for free. I’m also going to share with you some things about negotiation and how you can make sure you can effectively negotiate with your prospects.

As sellers, sometimes we become to afraid to lose our prospects that we tend to give away everything for free. Unfortunately, people are not going to value those things that you give for free. Now, the relationship has a bad start. So here are a couple of principles to help you get a good head start.

  1. If I do this, you will do this…

Ex. If I were to give you a free license, you will have to give us a referral.

  1. If you give away stuff for free, make sure you have a strategy behind it in the end.

Ex. McDonald’s sells us burgers at almost no profit but they are making a huge increase on their fries and soda so they consistently have people coming back over and over again.

Now let’s bring this back to you…

Do you have an after sales process?

This means having something on the back-end to recuperate that loss or cost. For example, sell your product at a cheaper rate to get into one department of a company and as they grow, they would purchase more from you.

Today’s Major Takeaway:

Make sure that there is value attached to anything you give away for free. Do not just give it all away.

Episode Resources:

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Timing, Budget, Donald Kelly, The Sales Evangelist Podcast, Discovery Call

TSE 322: Timing Isn’t Right

Timing, Budget, Donald Kelly, The Sales Evangelist Podcast, Discovery CallHow would you handle a prospective client saying that the timing isn’t right for your product or service and that if they decide to take advantage of the opportunity at a later time, they will reach out to you?

A lot of customers may dictate to salespeople when they’re going to buy and how they’re going to buy. A question was posed to us in our Sales Evangelizers Facebook group asking how to handle this kind of situation. So I’m going to give you some thoughts and ideas to hopefully help you.

Qualification is key. Assess if the prospect is truly qualified and this can be done by having answers to these questions.

  • Is there something your business can help them with? Do they have a particular challenge that you can help overcome?
  • Do they have the money to be able to purchase or go forward?
  • Am I speaking to the right person that could pull the trigger on this project?
  • What is the timing that they have allotted? Is it something they want to do in 6 months or a year? Where are you going to put this prospect on your radar?
  • What is it about the timing that is not right? If you’ve built enough relationships, people would be more than willing to tell you why it’s not right.
  • When do you feel would be the best time?
  • What would change from now to that best time?
  • At this point, find out if there is another product/service that can be of assistance.

Episode Resources:

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The Sales Evangelist, Donald Kelly, Donald C. Kelly

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TSE 237: Understanding Finance Will Increase Your Profits!

The Sales Evangelist Podcast, Cynthia Beckles, Sales Podcast, Donald KellyIt’s all about making money, or is it? Sure, sales is the cornerstone of any thriving, flourishing business but it’s not the end all and be all. There are other key elements that need to come into play. One is to understand the language of business and that is the aspect of finance. I know a lot of people who tend to shy away from this topic thinking how complicated it may seem. But it’s not, really. Once you ease your way into the world of finance then you will understand the critical part it plays in your goal of making profits.

In this episode, let’s tap into the minds of finance experts Brian Califano and the co-founders of AcceleratingCFO. They have spent the last 20 years providing finance leadership at large entertainment Fortune 500 companies until they’ve finally decided to start their own company and lend their expertise to smaller businesses to help them grow as well as understand the power of finance and how budgeting and finance can really make a difference in steering their business towards success.

Here are the highlights of my conversation with Brian & Scott:

What you need to understand about the power of finance before going into a transaction with a buyer:

  1. Planning

Start with sales. Sales is the nerve center of a company – market intelligence; connecting customers back to the business

  1. Get sales and finance on the same page.

Keep the company’s financial performance in mind when in front of clients and prospects. Make sure you don’t over promise and under deliver.

How to understand the finance of your prospect:

  1. Go out of your comfort zone.

Make that phone call above a C-level executive or ask him/her to bring the CEO or CFO or set up a simple introduction.

  1. Demonstrate the ROIs through data.

CFO is the best place to prove out but you have to prove the value and how it translates to dollars from your company. Present data.

  1. Figure out the decision maker and the language that each level has.

Go through several tiers to find out and better understand their specific challenges and pain points before even going to the CEO.

  1. Know your internal CFO.

Know what your boundaries are in terms of the minimum level of threshold in making money.

 

Financial documents you need to look into about a company:

  • Company disclosure
  • Press releases
  • Financial information and non-financial information
  • 10-K (annual reports) and 10-Q (quarterly reports)

What to look into specifically:

  • How is the company doing?
  • What are they talking about?
  • Look at their earnings call script.
  • Cash flow statement (particularly the change in their Accounts Payable and Accounts Receivable)

Brian’s Major Takeaway:

If you need internal approvals, don’t be afraid of it and don’t duck it. Understand that the CFO you’re speaking to may be trying to protect and maintain their risk profiles. Call a presentation internally to make sure it’s about the company instead of yourself.

Scott’s Major Takeaway:

Do your research and come correct with your data. Make sure you bring the data with you and do your homework on the company and the folks that can evangelize your service or product.

Get in touch with Brian and Scott through their website at Accelerating CFO.com or on Twitter @acceleratingCFO and respective LinkedIn Profiles  Scott Margolin and Brian Califano.

Episode Resources:

www.acceleratingcfo.com

Listen to Brian and Scott’s Prophets of Profit podcast

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The Sales Evangelist, Donald Kelly, Donald C. Kelly

TSE 191: “It’s NOT In Our Budget!!!”

Donald KellyHow can I handle “We don’t have it in our budget?”.  Many times as a seller we come across the illusive statement, “It is not in our budget”. As a seller, it’s inevitable that you will hear this statement at one point or another. When I hear this, four things come to mind:
1. You didn’t qualify properly…
  • It’s important that you have a sales process that enables you to weed out non-buyers and not waste time
  • Set the rules before you play the game with each prospect
  • Here are some potential questions to ask so that you don’t get the budget questions
    • “Typically our system runs for $4K per year. Is that in your budget for this project?”
    • “What is your budget for this project?”
  • Find out who else will be a part of the decision-making process or what other departments are being affected by the purchase. Perhaps they can have a joint budget for the project.
  • Many times people are afraid of losing something so they hold onto someone who shows slight interest so you go through hoping that they will see something that will peak their interest later.

2. They are lying….

  • Some people lie and are just trying to get rid of you. Just cut your loses and move on.
  • “Is it okay if I ask you a question without you getting upset with me?” “Is price really an issue or are you just not interested?”
    • Or, many times when people say it’s not in the budget it’s because:
      • “I did not explain it right and they don’t see the value”
      • “Really interested, but just have no money”
      • They are not interested and wanted to say it in a nice way……Which one is it?

3. They really don’t have a budget….

  • They really don’t have the money to dedicate at this time. They have other pressing projects and it’s not on the top of the list. These are the folks I would have my marketing folks do a hyper focus on with educational material. I would also keep in touch with them periodically, but not waste too much time. What information could I offer that will be of tremendous value over the next several months?

4. They really have a need and don’t have the budget.

  • This would require us to look at doing a partial payment at the end of the fiscal year and the remainder in the next year. They can pay part now and part later.
    • “How much would you be able to allocate now to start off with?”.
  • Maybe they don’t need all the features right now and you can add it as they go over the next several months. If you do this approach, I would put specific dates in the agreement for the next payment due date. (Story of Charlotte County School). Another option is to do a “pilot” approach. Can you offer a 3 month pilot at a reduced rate to have them sign up and try it out?
  • I wouldn’t offer it for free, I would have them pay something. I was taught by a friend that even if they pay $1.00, they feel a sense of commitment and you’re able to tell true motives and sincere desire. Just like the partial payment, offer specific dates for the trial period and conditions.

Feel free to check out this episode.

The Sales Evangelizers, Donald Kelly, Sales Facebook Group

TSE 032: How Value Base Pricing Increased Kirk’s Revenue By 79%!!!

Kirk_Bowman_HeadshotValue base pricing is a revolutionary idea where sellers are able to price their product or service, based on the buyers perceived value. Kirk Bowman is a very successful entrepreneur who has mastered this principle and adopted it in his organization. Over the space of two years; Kirk saw a 79% increase in revenue. This concept will aid any seller and business owners as they grow their business.

Here are some of the take aways from our discussion:

  • Value is subjective based on the prospects/clients and this is why it is so important to understand their  individual need.
  • The only way to truly gage prospects/clients perceived value is to ask the appropriate questions. Here are some of Kirk’s favorites:
  1. Why are you doing this project now as oppose to 6 months ago or 6 month from now?
  2. What’s going to happen if you don’t do this project?
  3. If money were not an object, what would the success of this project look like? Describe it to me?
  • Create a list of questions you can turn to when speaking with prospects/clients. This should not be a script, but a tool to help you know some of the key questions that should be brought up in the conversation, to better extract the true value from the prospect/client. 
  • Kirk also emphasized the importance of building relationships with prospects/clients. This will help them to feel comfortable enough to share with you their true concerns. This is also very important as you try to help them understand the true value for themselves.

Come and listen to more great tips from Kirk. Simply click play below or check us out on iTunes or Stitcher.

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TSE 024: The 3 Most Crucial Elements Of A Sale!

Donald Kelly “The Sales Evangelist”So the first quarter came and went and some individuals are worried that they did not hit their goals or quota. Now, the reasons may vary and may not all be related to one particular thing. However, often times I find that a sales person becomes very worried because management may now be down your back. If you are the business owner, you may be able to purchase or grow the way you were hoping next quarter. It becomes very frustrated and you may be worried that everything is all off and messed up. Rest assure that this is not the case. I will give you three VERY crucial elements that will help you accomplish more of your goals. There are:

  1. Focus on the ideal client and make sure that they have a PAIN or a CHALLENGE you can solve
  2. They must have a BUDGET and a time frame when they want to make the purchase
  3. They must be the DECISION MAKER!

As you listen to the episode, you will see why I feel that all of these elements are very crucial to your progress  and making those prospects clients.

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