Book Review & Learning from: “The Ultimate Sales Machine” by Chet Holmes

1. Book Review & Learning from: “The Ultimate Sales Machine” by Chet Holmes Chet worked and created magic in sales numbers initially for Charlie Munger… Warren Buffett’s partner. In this book, he has shared what he calls his 12 big secrets behind his success.

2. From a good book; you learn From a great book; you act

4. Knowledge, Skill and Attitude • Do 12 things 4000 times; rather than 4000 things 12 times • The difference between just ideas and implementation • “Working on the business; not just in the business”

5. Current Climate for doing business • 96 % of all companies fail within 10 years • 26000 new products and brand are introduced every year • 16% -30% percent of consumers change brand loyalty in one evening of watching commercials • 74 % of consumers buy outside their favorite brands • 29% of consumers do not read a newspaper

6. Secret # 1. Time Management secrets of Billionaires • Touch it once… only when you are ready to act on it. • Make Lists… not more than 6 pending things on a list. • Plan how much time you will allocate to each task… ideally the top 6 things must not take more than an hour each. • Plan the day… in advance. And stick to it. • Prioritize… • Ask yourself “Will it hurt me to throw this away?”… keep your mind and work space clutter free. • My personal experience… am always hassled and going through meetings, customer calls, pending items, etc at high speed. • End the day tired and with an even bigger list of pending items. • Miss some critical items and need reminders. My action plan… Create time table and mark it on calendar (shared with team)… and stick to it. Deadline: From today itself.

7. Time Management(work smarter, Not Harder) page no 5 • 8 – 8.30 send client proposal and check mail • 8.30-9.00 review employee's time management lists • 9-10.30 review, revise and fax contract • 10.30-11 miscellaneous meetings • 11-12.00 review marketing plan • 12-1 lunch (with client or staff) • 1.30-2.00 conference call • 2-3.00 check mail • 3-5.00 Direct mail letter • 5 -6.00 check and respond to email

8. Secret # 2:Institute higher standards and Regular Training “Only 10% of the population has what's called “the learning mindset” What you inspect gets respected.  The higher standards you set the more your employees and organization will live up to them – professionally & personally. Regular training is important, it’s a must to keep your team running like a fine tuned machine that becomes more productive and efficient daily. • Improve makeover – leading from the front. • Training Sets Standards • Training Makes Money… • Training Improves confidence & attrition control. • case study My action plan… Continue existing pace of regular trainings, increase frequency as much as possible.

9. Secret # 3. Executing Effective Meetings • Focus on the three P’s… Planning, Procedures & Policies. • Use the expertise across the teams to improve a problem. • Workshops (giving involvement rights to a lot more staff) give good results. • Workshops of the members of the team to prioritize and decide action plan increase buy-in. • Role playing it after documenting it relevantly creates practice and confidence to implement across the team. • Monitoring the process creates ownership. • Measure & Reward the outcome • Continue existing practice. • Ruthless Execution • Ship can have only one captain.

10. Executing effective meeting • Workshop – at office or at Home • Workshop – Leadership/Attitude/Idea/Direction of company • For every six Question you will get six different answers

12. Secret # 4. Become A Brilliant Strategist 90% executives are tactical… 9% are strategic… 1% the rare community of being a combination of both. Use education based approach for all clients… buy in is always higher. Think Strategic… Act Tactical. “education –based marketing” Learn lesson from your self –Change /Dramatic improvement Market Data Stadium Speech • Most sales people think of only today, this month, this quarter… the challenge is to make them think& then act for their entire future with this role. • Build extensive knowledge over time. • Think Like an Entrepreneur • Learn… Learn… Learn! • More joint calls with Seniors to watch demonstration of experience.

13. The buyers pyramid 3% buying now 6-7% open to it 30% Not thinking 30% don’t think they’re interested 30% know they’re not interested A GOOD STADIUM PITCH 1. Gets more buyers interested 2. Positions you as an expert 3. Helps sell your services more effectively

15. Secret # 5. Hiring Superstars Dominance – These people are dominant.  Their ego’s are a big part of their lives… Influencer – High influence people love people, they are naturally empathetic, easily putting themselves in other people’s situations and understanding their points of view. Steadiness – With these types of people it’s about how patient and thoughtful you are. Compliance – These people are about structure and organization and they always plan ahead. Personality profiling or Behavioral assessment • Conduct interviews by creating situations to check relevant quality. • Sales people are ideally high scorers on the first two points. • Interview must have focus on softer aspects and not just technical expertise… use Relax… Probe… Attack • Manage existing team members keeping this truth in mind. • Encourage people to have their own minds. • Give chance to people to live a little on their own, don’t expect to subdue a high potential. • Reward success regularly & celebrate victories.

16. Hiring superstar • Ambition • Confidence • Ability to face rejection • Qualifying skills • Ability to create desire in your prospects • Closing skills • Time management • Presentation skill • Strategic thinking • Market knowledge • Self improvement

17. 50% of the Sales guys don’t call after first rejection.  Only 4% - 5% keep trying after 4 rejections.  Hence train the sales staff on the first day that they will face 8-10 rejections • Now build in procedures that require sales people to try again,again,again ….in fact I build in 12 attempts that salesperson will make and I educate the salesperson in advance that the client will say no at least 8 times. They are trained on the first day of job that they are going to go after the client 12 times, even after the client has said no every time

19. Tata sky

20. Secret # 6. The High Art Of Getting The Best Buyers • Identify the Top 100 clients (consider this to be just a number) that one would like to have & just pursue them with absolute pig headed discipline & determination • Invest full energies (and costs) behind this desired target audience only to produce thereby far more profitable business returns. • Build a great dream 100 program or strategy • Get affiliated with names (or product segments) that would attract potential list of customers. • Create opportunities for referrals… Give the best possible value to your customers to ensure that they invest in your business with names of potential clients. • This thought is instilled in the team & is being constantly reiterated. • All large customer calls are being accompanied by Supervisors as much as possible. • Advisory team has to constantly find newer product opportunities to suit the Target Audience. • Actively source referrals from happy clients. • Make sure that the target customer being pursued is clearly the one who has the potential – Pareto’s principle. • Speak products & services that are appealing & not simply templates. • Tie ups with relevant names / services for ensuring recall & permission to enter.

22. Secret # 7. The Seven Musts Of Marketing • Seven ways to have an effective marketing campaign and presence in the market. • Advertising • Direct Mail • Corporate Literature: brochures and promotional pieces • Public Relations • Personal Contact: Salespeople and customer service • Market Education: Trade shows, speaking engagements, education based marketing. • Internet: websites, email marketing and affiliates

24. Secret # 8. The Eyes Have it 85% of information which goes to brain enters through the eyes   We remember 20% of what we hear, 30% of what we see but 50% of what we hear and see Training requires continuous repetition Usage of colors & visuals makes the impact much larger in a presentation made to prospects or clients. Keep some basic rules for every presentation… Fast paced presentation Use WOW Factors! Use story telling methods • A lot of our presentations are drab & made by people without true passion. • Result is that keeping one’s motivation by deriving energy from person in front is difficult. • Role plays on calls to be continued. • Rework on our presentation material. • Keeping people light headed in office to encourage humour creation & dissemination.

25. “ Maturity is when all your mirrors turn into windows”Compelling Visuals and Presentation strategies Content Communication KISS KIFP Wow facts and statistics Build stories Increase curiosity Write headlines Be confident; not obnoxious Focus on them; not you Voice of authority- tele-callers and RMs Don’t thank for time Body language Stand; don’t sit Focus; don’t get waylaid by questions Add value; don’t read Know what comes next Use humor Practice

26. Secret # 9. The Nitty Gritty Of Getting The Best Buyers • Choose your Dream 100 • Choose some gifts… cheap but relevant & one that will be retained. • Create the Dream Letters… create the curiosity and the important feeling. • Create the Dream Calendar… create the regular schedule plus important dates. • Conduct the Dream 100 phone calls… confidence thy name is King. • Present the executive briefing • Surveys/feedback • Manage content of all communication more effectively to keep customer interest alive. • Enclose a small but meaningful attachment, maybe the latest research report with an inexpensive gift.

27. Secret # 10. Sales Skills • Establish Rapport, • Qualify The Buyer (Find the Need)… what are our customers looking for? How do they find it in us? What will be the BIG thing for which they will buy our product? • Build Value… do a detailing of our strengths. • Create Desire… build it up. Then aim & shoot. • Overcome Objections… preemptively. • Close the sale… testing understanding & aiming for the kill. In words, no assumption. • Follow up… • Role Play • Role Play • Role Play

28. Secret # 11. Follow Up & Client Bonding Skills • After a prospect / client has been met, ensure that occasions of bonding are created. • Focus on the first letter after the sale (include some personal tidbits to keep the • Your ultimate GOAL is that all of your biggest clients also become your best FRIENDSenergy going) • Follow up call… warmth & some news are to be part of this. • Share something amusing or of personal interest to the client. • Make a plan for a meal, party or some such social gathering. • Offer to help on business… maybe research of competitor. • Send more communication • Involve family in some form. • More communication. • More help on client’s business. • Invite or get invited home… • Execution challenges • Customer Engagement Matrix • Genuinely love your work & your clients.

30. Secret # 12. All Systems Go • In order to make all of this as successful and beneficial as possible you need to set goals, measure effectiveness and activate your master plan. • Be sure to track and follow what’s working and what’s not, keep what’s working and dump what’s not.  • Spend time giving more value than you are getting paid in return.  • Develop personal relationships with business clients to build loyalty with them so that they want to continue doing business with you. • Create Contests measuring key success areas to keep excitement going.

31. Goal –Writing Workshop • Goals • 5 lifetime • 5 annual goals • Desired annual income for next 5 years • Three things you’ll do each month to improve your company/department • Three things you’ll do each month to improve performance 6. Three things you’ll do to make yourself happier and healthier

32. Setting goals and measuring effectivenessPage no 232 • RAS (Reticular activating system) • “ Never go to sleep without a request to your sub-conscious” • Strings of steel • Focus on the positive • Sales affirmations • “ I love PR”!

33. “ Finally; the 4000 hour rule” Don’t do 4000 things; but do 12 things 4000 times Read, Review, Reflect

35. Thank You • Hitesh Mali • 09825211198 • malihitesh71@gmail.com