The Entrepreneurship Institute

In April we published a column—"Is ADHD Affecting Your Sales Results?"—about how ADHD might affect some salespeople, their managers, and their productivity. A number of readers told us they were surprised that the prevalence of ADHD in salespeople may be twice that of the general population.

Others felt they had just looked into a mirror.

A manufacturing CEO—who is also his company's primary business developer—called excitedly and said, "That article seems to be written about me!"

Among the behaviors associated with ADHD (Attention-Deficit/Hyperactivity Disorder) are difficulty with focusing, prioritizing, starting projects (or finishing them), and others. About nine million of 234 million adult Americans—four percent—are thought to be affected by ADHD, reports the Attention Deficit Disorder Association.

Since I was about to board a plane, I could take only a few minutes to reassure him: Increasing his consultative selling skills and developing a customized sales process would structure his sales calls, enabling him to stay focused during a sales call.

Within weeks he enrolled in our consultative selling course, FOCIS. He now tells us he is putting it to work in the field with great success. He has longer meetings, receives compliments on his preparation, gets more advances (that is, prospects committing to "advance" to the next step), and, most important, is winningsignificantly more new business. And by that we mean 30 percent more in business closed and scheduled for 2013.

Key Point: Our article appeared just six months ago.

We are not experts in treating ADHD. But we are experts in building consultative selling skills and creating a sales process that improves both efficiency and effectiveness. The good news is that FOCIS, our consultative selling course, works for people with or without ADHD. Nearly anyone can face ADHD-like roadblocks in their work.

Deadlines or other stressors, for example, can bring such behaviors to the surface, says Dale Davison, an executive coach in Wilmette, Illinois, who works with salespeople and others experiencing ADHD: " 'Choking' under pressure can happen to anyone—on the golf course or in the board room." Her Website is www.dale-davison.com.

More good news is that recent research tends to support the notion that some of the most disorganized people can be the most talented and creative. Testing has shown that individuals with ADHD tend to think in so-called creative ways, explains Duke University researcher David Rabiner, Ph.D: "That means they may be especially well suited for entrepreneurial pursuits and careers that place a premium on divergent thinking skills."

But, warns Dr. Julie Schweitzer, "Raw energy is not enough. Achieving success requires skills. Traditional routes are hard for ADHD people so there are benefits to coaching." Schweitzer is an associate professor of clinical psychiatry at the UC Davis MIND Institute.

What can sales managers do to support a salesperson with self-sabotaging ADHD-like behaviors?

1. Provide a customized sales process that keeps them on track while developing new business. (We can help with this one.)

2. Set up and support an accountability structure emphasizing time management training, supervision, and incremental deadlines. Poor "executive functioning" skills, commonly the result of ADHD, can lead to underestimating how long a project will take or, on the flip side, overestimating how much time is left until a project is due.

3. Take workplace dynamics into account. In traditional office environments, ADHD'ers in sales should have less open space and less distraction. Headphones, work-break schedules of 25 minutes on and five minutes off, limiting disruptive e-mail traffic—each of these tactics and others can be encouraged. Although sales managers can't control home office environments, they can—and should—suggest that home offices are quiet and void of distractions.

But in our increasingly attention-deficited society, it seems, keeping anything quiet and void of distractions is not so easy.

How bad is it?

In one small, Time-Warner study, "digital natives" (Millennials in their twenties who grew up with digital) switched media venues 27 times per non-working hour. That's roughly 13 times in 30 minutes or the time it takes to watch one episode of The Office. "Digital immigrants," who grew up with old-school technology and adapted to digital, switched media venues 17 times per non-working hour.

Keep in mind that by 2020 Millenials (born from 1982 to 2004) are expected to make up nearly half the workforce.

Does this mean society and selling are on a collision course with ADHD? Possibly, but it also just might mean that the number of sales people will keep growing because selling can be a great profession for ADHD'ers and others who like to change their focus 27 times in 60 minutes.

One thing I'm fairly certain of, however, is that Millennials won't just be calling me after looking into the ADHD mirror. They'll be calling and e-mailing and texting and tweeting and . . . whatever. I guess I'll just have to stay focused myself.

As for any questions you might have about consultative selling, please communicate with us any way you want, though phoning 847-446-0008 might be easiest. But no matter how many media venues you use we'll still read or listen to or watch only one venue at a time. That means you'll have our full attention right away.

Here's an interesting quick read from Fast Company......link.

Where does the return on investment come from for branding? It’s a question we get frequently, and not always an easy one for companies to answer. We believe the formula for calculating marketing investment is driven by 10 top-level factors (or as we like to say the Power of 10). Our philosophy is based on compounding factors and incremental lift in all categories. Even a small lift in each factor as little as 2-4 percent has a geometric affect on subsequent factors and the bottom line profitability.

The factors to measuring brand ROI include:

1. Increasing the quantity of leads
2. Increasing the quality of leads
3. Increasing the size of the deal or basket (number of units sold)
4. Increasing the price point (the perceived value of the product or service)
5. Increasing the close/win ratio
6. Increasing repeat customer business

while at the same time

1. Reducing the cost per acquisition and close
2. Reducing the sales cycle
3. Reducing customer attrition
4. And reducing employee attrition (bet you weren’t expecting that one)

Branding, when done properly, impacts each of these factors.  Advertising and marketing tactics on the other hand often only focus just a few of these factors. Focusing on just a few of these factors does not generate a geometric return on investment and company growth.

Increasing leads

Lets discuss a few of these factors starting with increasing the quantity of leads. Simply filling a sales pipeline with more leads does not guarantee more sales. In fact, this factor by can have a negative effect on the bottom line.  Sales departments may be distracted chasing unqualified leads, which can increase sales cycles on qualified candidates, and typically drives up the over all cost of acquisition.

Conversely, screening leads can have a negative impact on the number of leads. Raising the quality of leads can be accomplished by improving the target universes, focusing the message points, narrowing the marketing channels, and improving the brand proposition, to name a few tactics.

Qualified buyers tend to buy more services and products, which increases the deal size and or basket when properly motivated with the right incentives. Bundled offerings, bulk unit offerings, valued-added service packages, cross-selling services, all work to up sell the prospect.

Driving price points

Driving price is achieved through increasing perceived differentiators: faster product delivery, enhanced reputation, product design and visual appeal, and a host of other methods. Countless market tests have proven strong brands command higher price points, which can be influenced by increased demand and wait list or back orders. Naturally, wait list and delayed starts can cost you sales as well, but generally speaking the hottest products or services can command more patience from the market and people will often pay more to move to the front of the line while supply is limited. The integrated approach and relational influences are the power behind branding.

Focus on an integrated brand strategy

At this point in the conversation you have probably grasp the relationship between many of these factors, and have begun to understand why focusing on just a few can yield less than optimal results.  Focusing on an integrated brand strategy will develop geometric returns, even with only modest lifts in any individual factor.

Far to often we are asked to provide a silver bullet: something that will turn around the bottom line. Something that will drive sales quickly. We find that while there are short-term fixes, a carefully planned and strategic position to brand management is the only one, true solution to achieve maximum impact. So if you’re looking for a strong return on your investment, consider a program focused on your brand leveraging the Power of 10.

Comments are welcome, especially if you’d like me to expand on any of the points in the Power of 10 and their impact on the bottom line.

 

Ever wonder how to get your company's name at the top of your customers' search engine results? Paige Barrow of GREENCREST's marketing operations shares a few industry secrets for getting your name on the top of the list.

What is strategic marketing? Is it important for my business?

One byproduct of a down economy is a surge in entrepreneurship as people squeezed by layoffs and a tight job market opt to start their own businesses.

Securing funding, working out product development/service offering issues, honing business plan strategies, and wearing multiple hats is a lot to juggle – which means branding, unfortunately, often gets pushed to the bottom of the priority list. But establishing the right brand position right out of gate is the key to early success for any business.

Branding clearly communicates what your company does, tells customers what they can expect from your products and services, and how what you have to offer is different from your competitors.

A strong brand creates an emotional bond with customers. When a brand really “connects,” it not only creates a barrier for competitor entry, but also develops a premium situation where consumers perceive a higher product value.

What are the first steps in developing and implementing a brand strategy?

1. Assess your position in the marketplace. Do people know what your company stands for? Are your products and services relevant? What is the current market opportunity?

2. Develop the tools you need, starting with a marketing plan that outlines goals and objectives and the tactics needed to achieve them.

3. Pay attention to first impressions. Create a visual “toolkit,” including a logo, a two to three word tagline that succinctly captures your positioning statement, stationery and marketing materials designed to convey a consistent look at feel.

By putting branding at the top of your priority list, you’ll establish credibility, speed up the sales cycle, and win over the hearts and minds of customers. This approach creates a bond with new customers that is solid and can eventually become unbreakable.