New Sales. Simplified.

Introduction

In today's fast-paced business world, finding new clients and expanding your customer base is crucial for success. However, many salespeople struggle with this aspect of their job, even if they excel in other areas. Mike Weinberg's book "New Sales. Simplified." offers a practical guide to mastering the art of new business development in sales.

This book is specifically designed for practitioners who already have a business and are looking to improve their new sales techniques. It's not a general introduction to sales management but rather a focused handbook filled with actionable advice and strategies.

Throughout this summary, we'll explore the key ideas presented in Weinberg's book, including:

1. Why many new business salespeople fail
2. How to craft a compelling sales story
3. How to execute an effective attack plan

Let's dive into the world of new sales and discover how to simplify and improve your approach to finding new business opportunities.

The Common Pitfalls of New Business Salespeople

Even experienced salespeople can struggle when it comes to new business development. Weinberg identifies several common behaviors, attitudes, and attributes that often lead to failure in this area. To help you assess your own performance, consider the following questions:

1. Are you spending too much time waiting?

   • Waiting for new marketing materials
   • Waiting for a new website launch
   • Waiting for pipeline deals to close

2. Can you effectively tell your sales story?

3. Have you selected your target accounts wisely?

4. Are you joining the sales process too late, after competitors have already taken the lead?

5. Are you too pessimistic or negative in your approach?

6. Do you come across well on the phone and in person?

7. Can you adapt to your prospect's communication style?

8. Are your sales calls effective?

9. Are you overly analytical, or can you act without having all the facts and figures?

10. Can you handle the daily risk, rejection, and conflict that come with developing new business?

By honestly answering these questions, you can identify areas for improvement and start working on your weaknesses. This self-assessment is a crucial first step in enhancing your new business development skills.

The Three-Point Sales Framework

Weinberg presents a simple yet effective framework for new business development, based on three key components:

1. Select your targets
2. Deploy your weapons
3. Attack

This framework, refined over a decade of experience, was born out of Weinberg's own failures and successes in the sales industry. Let's explore each component in more detail.

1. Select Your Targets

Choosing the right prospects is crucial for success in new business development. Here are some tips for effective target selection:

• Work with a finite list of accounts

• Focus on a specific vertical market or account type

• Create a concise, one-page list of prospects

• Segment your accounts into four categories:

  1. Largest in dollar spend
  2. Most growable in terms of opportunity
  3. Most at-risk of losing their business
  4. Others that don't fit the previous categories

• Pursue prospects similar to your best existing customers

• Include a few "dream clients" in your list, but don't neglect your regular prospects

2. Deploy Your Weapons

Your sales arsenal includes various tools and techniques, such as:

• Networking
• Social media research and connections
• Email marketing
• Phone calls and voicemail
• Marketing materials and white papers
• Face-to-face sales calls
• Case studies and demos
• Trade shows and entertainment
• Presentations and proposals
• Client references

However, the most crucial weapon in your arsenal is your sales story. We'll explore this in more detail later.

3. Attack

Once you've identified your targets and prepared your weapons, it's time to execute your attack plan. This involves:

• Planning your approach
• Making initial contact
• Conducting effective meetings
• Following up and closing deals

By focusing on these three components, you can simplify your new sales process and increase your chances of success.

Crafting Your Sales Story

Your sales story is the most powerful weapon in your arsenal. A compelling story can make the difference between winning and losing a new client. Here are the three building blocks for crafting an effective sales story:

1. Make it client-centric

   • Focus on what you can do for your clients
   • Address their pain points and problems
   • Highlight the opportunities and results you'll help them achieve

2. Clearly state what you offer

   • Describe your services, solutions, or products concisely

3. Differentiate yourself

   • Explain what makes you unique and better than the competition
   • Justify your premium pricing

To bring these elements together, create a power statement that includes:

• A headline providing context about your company
• Reasons why clients choose you
• Customer issues you solve and results you achieve
• Your offerings and differentiators

Keep your power statement concise and use it to confidently discuss your company with anyone.

Effective Phone Techniques

When making proactive sales calls, avoid using a typical "sales voice." Instead:

• Speak casually with a normal tone
• Use an outline with key phrases instead of a rigid script
• Incorporate your power statement naturally into the conversation
• Be prepared to ask for a meeting up to three times

Planning for Successful Meetings

Once you've secured a meeting, follow these four steps:

1. Keep it simple

   • Bring only a pad and paper, not a projector or elaborate presentation materials

2. Choose the right seating arrangement

   • Sit next to your prospect or at a 90-degree angle
   • Avoid sitting directly opposite, which can create an adversarial feeling

3. Have a plan and stick to it

   • Don't let your prospect's agenda take over

4. Listen more than you speak

   • Remember the "two ears, one mouth" rule

Structuring Your Client Visit

Weinberg recommends a seven-phase structure for client visits (with an additional phase for existing customers):

1. Build rapport

   • Spend as much time on this as your prospect wants

2. Share your agenda

   • Show professionalism and ask what the prospect wants to achieve

3. Address outstanding issues (for existing customers only)

4. Deliver your power statement

   • Watch for reactions to identify pain points

5. Ask questions

   • Inquire about desired results, decision-makers, timelines, and competitors

6. Present your solutions

   • Use the prospect's own words when possible

7. Determine fit

   • Assess whether your solution meets the client's needs

8. Discuss next steps

   • Ask the prospect what they think is appropriate

Overcoming Client Resistance

It's natural for prospects to be defensive when approached by salespeople. To overcome this resistance:

1. Examine your beliefs

   • Ensure you genuinely believe in your offerings and care about your clients' success

2. Pay attention to your voice

   • Speak in a normal, friendly, and casual manner

3. Maintain a positive attitude

   • Approach prospects with optimism

4. Choose your words carefully

   • Use language that focuses on the client, not yourself

Effective Presentations

Remember that presenting is not the same as selling. To create a more engaging experience:

• Have a discovery meeting before your presentation
• If not possible, use the first 15 minutes of your presentation for a discovery session
• Keep presentations short (four slides maximum)
• Encourage dialogue and feedback throughout

Time Management for New Business Development

To ensure you dedicate enough time to prospecting:

• Use time blocking
• Schedule appointments with yourself for new business development
• Determine how much time you need and block it in your calendar
• Stick to your schedule and remain focused during these blocks

Final Thoughts

Succeeding in new business sales doesn't have to be complicated. By following Weinberg's three-point framework of selecting targets, deploying weapons, and executing your attack, you can simplify your approach and improve your results.

Remember these key takeaways:

1. Honestly assess your behaviors, attitudes, and attributes to identify areas for improvement
2. Create a focused list of target accounts and work it consistently
3. Craft a compelling sales story that focuses on your clients' needs and differentiates you from the competition
4. Develop effective phone and in-person meeting techniques
5. Structure your client visits for maximum impact
6. Overcome client resistance by being genuine and client-focused
7. Use presentations as a tool for dialogue, not one-way communication
8. Manage your time effectively to prioritize new business development

By implementing these strategies and continuously refining your approach, you can become more successful in finding and securing new business opportunities. Remember that persistence, adaptability, and a genuine desire to help your clients are key ingredients in the recipe for new sales success.

Lastly, don't forget the importance of good manners and building relationships with everyone you encounter in your sales journey. Befriend receptionists, administrative assistants, and other gatekeepers, as they can be invaluable allies in reaching your prospects and closing deals.

With the insights and techniques presented in "New Sales. Simplified," you now have the tools to transform your approach to new business development. By simplifying your sales process and focusing on what truly matters, you can overcome the challenges of finding new clients and take your sales career to new heights. Remember, success in new sales is not about complex strategies or magical techniques – it's about doing the groundwork, staying focused, and consistently applying proven methods to achieve your goals.