Categories ArchivesCompensation Plans

Deconstructing “The Joy of A Salesman” Video

What is “The Joy of a Salesman”? A couple of months ago I received a link to this video from two separate friends in the sales game. It was posted on YouTube by “mrsalesguy01” back on August 9th but it didn’t come to my attention until October. As of today it has accumulated a very respectable 1,508,203 views. Note: I attempted to contact Mr. Sales Guy to do a telephone interview before posting this article but he has not responded to my email, possibly in an attempt to remain anonymous. As a result, all I can share with you are my opinions and observations regarding his motivation to create this video and exactly what he is trying to communicate. NSFW ...

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Calculating the True Cost of Marketing

Over a century ago, retailing pioneer John Wanamaker famously said “Half my advertising is wasted, I just don’t know which half.” The same challenge confronts most companies today. But what if you could know exactly which of your lead sources was producing what results and calculate your marketing and sales costs to the penny on every closed deal? That dream is a reality today, even in bricks-and-mortar companies like home improvement contractors. Every business owner knows they must invest in marketing but few know how or where to put their money. Even some companies with more evolved sales and marketing cultures often have difficulty tracking their ad dollars directly to specific sales. This is a shame because in our age ...

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Explaining The Sales Cycle

Many companies are less than forthright when discussing the length and makeup of their sales cycle with current and prospective salespeople. They fear that if their salespeople clearly understand just how long it will take before the first commission check hits their bank account – and how many hurdles will have to be jumped along the way –  the team will beat a hasty exit while the getting is good. This approach is a mistake. Explain the Sales Cycle. As I described in my article on Recruiting Top Producing Salespeople, and will explain in detail in my upcoming article on Corporate Transparency, my belief is that in all aspects of running a sales team, honesty is the best policy. Better ...

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Is Sales The World's Most Valuable Profession?

How is it that successful salespeople can earn more than doctors or lawyers, or sometimes even more than the owner of the company they work for? Economists agree: it’s because they practice the world’s most valuable profession. How valuable is it? Here’s a short quote from my 2004 book, The Greatest Job You Never Thought Of: How Anyone Can Find Career Satisfaction and Financial Independence in Sales: I know a mortgage loan officer who makes over $1 million per year A friend of mine in the printing industry pulls down almost 8% of the $10 million book of business he has built over the past twenty years as a salesperson. (In case you’re wondering that’s almost $800,000 per year and ...

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Recruiting Top Producing Salespeople

Good help is hard to find. Never is that phrase more true – or important – than when it comes to finding, developing and keeping good salespeople. Sales team member development will be covered in my articles on training. Retaining good salespeople is generally a question of properly setting and managing expectations which will be primarily covered in my articles on company ethics and compensation plan structuring. In this article I’m going to describe the steps required to find productive salespeople in the first place. In many ways it’s like a sales funnel, you start with a large pool of targeted prospects and winnow them down until you find your needle in a haystack. =========================== =========================== This system involves nine ...

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The World's Greatest Sales Team?

This site was born out of frustration. Like most salespeople, over the years I’ve been frustrated with different aspects of every organization I’ve been associated with. Whether as an employee, independent contractor or consultant, it seems that invariably I find multiple, critical aspects of the sales process either ignored or poorly handled by the companies I work with. Some of these shortcomings are common at almost every organization. Things like inconsistent or non-existent follow-up and lack of communication between the sales, marketing, production and customer service departments seem to be the order of the day no matter where you go. Other factors are present in some companies while absent in others. And it often seems that sales organizations that are ...

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