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The
Lease Closer Newsletter - Practical
ways to land a vendor The articles in this newsletter do not necessarily represent the views of Granieri Associates but the views of the writers themselves. If you would like to comment on a particular article please call Granieri Associates during their normal business hours (9:00 - 6:00pm) Spotlight
- P MAP: An Introduction - Practical Ways of Landing a Vendor - Today's Leaders Table of Contents Practical
Ways of Landing a Vendor
1 Nov/Dec The Lease Closer Page 2 Practical
Ways to Land a Vendors What can you do to boost profit and volume? In today's market, your existing vendors are selling less equipment. So, one of the first things to do to boost volume is to land new vendors. It's as simple as that, and fortunately there is less competition out there today. How do you land new vendors? I suggest comprehensive monitoring of your sales force. Are they making enough calls? Are they just talking to prospects that are friendly, but don't have volume? Measure their activity level, the number of calls, length of calls, and also code the leads they are calling on. Leads can be coded in three ways. A
= High Quality B=
Potential Vendors (Small but worth while) They do a couple of leasing deals a quarter. You know if you land them, you can count on a slow but steady stream of business. Nov/Dec The Lease Closer Page 3 C
= Everybody else What's
your average ticket size? Are they really a prospect or are you wasting time with them? If you help your sales people stay on top of the leads they have, and effectively qualify prospects, you have a better chance of initiating new, quality vendor relationships. To find out more about what Linda Kester can do for your company please visit her website at www.lindakester.com _______________________________________________________ Today's Leader By: Lynda Jackson Throughout history, leaders have been recognized, studied, envied and imitated. From George Washington to George Bush. From Henry Ford to Bill Gates. From Randolph Hurst to Jack Welch. Some defining characteristics of leadership - passion, vision and strong persuasive ability - have been constant. Others - integrity, stamina and compassion - have emerged with social and economic changes. The bar continues to rise. Today, a Nov/Dec The Lease Closer Page 4 leader must also be a student of the business, involve others in then process and make difficult changes quickly. Studies have shown a direct correlation between success and the ability to communicate. One study of many successful leaders revealed two common traits to every individual interviewed: They were all highly organized and had the Ability to persuade. Persuasion is only 7% what is said, 38% voice inflection and 55% body language. Passion; emotion; enthusiasm are readily apparent in voice inflection and body language. In the article is passion linked with stock price?, the author equates passion with stock price and notes that, " Jack Welch, Chairman and CEO of General Electric, is not afraid to show how passionate he is about his company, his people and the limitless potential for change." The article further states, "The average stock prices of companies who use language to create emotion outperform those who do not." Emotion has over five times more persuasive impact than words. A leader with passion will invariably show emotion. Behavioral studies show emotion is contagious. Groups naturally get caught up in the emotion of the leader and experience an emotion void from a leader with no passion. Passion is also the force that propels a group through obstacles. Regardless of the cause, groups are always faced with hurdles, challenges and setbacks. Passions keep these obstacles from derailing the mission and deflating enthusiasm. Leaders need vision to sustain success. A leader can achieve a moderate level of success by emulating others, but maintaining it requires vision. Even the most energized individual will become frustrated and insecure with repeat failure. We are fickle Nov/Dec The Lease Closer Page 5 and don't hesitate to shift loyalties anytime there is a sense of insecurity. Conversely, success sustains leadership. We are knowledgeable and intelligent society that will not be led by failure. We emulate success and seek successful associates, professionally and socially. The more knowledgeable and experienced the group, the more open and honest the leader must be. In the past, the ignorance of isolation may have allowed less scrupulous leaders to succeed. Isolation is extinct and so is the unscrupulous leader. With access to information tearing down the walls of secrecy, today's leaders must also have integrity. We expect our leaders to be fair and honest in matters that effect us. We are somewhat more forgiving when we perceive they don't. Case in point: Bill Clinton was able to maintain high approval ratings despite lying to the country, He a was able to survive this deception because most accepted it as a purely personal matter Business today is a 24/7 world of mature markets, intense competition and constant change. Leaders need endurance to remain focused and innovative. And, esprit de corps develops only when the leader is as committed as any member of the corps. A leader must not only care about the cause; he must sincerely care about those who support it. Information technology has significantly reduced human interaction, but we are still driven by emotion. We gravitate to those who show they genuinely care about us and avoid who don''. A leader must be a student of the cause; Jack Welch talks about studying the successes of others and embracing what has proven effective. A leader cannot let corporate or personal ego stand in the way of capitalizing on proven success. Nov/Dec The Lease Closer Page 6 The speed at which business is now conducted requires a leader to be quick and decisive. No longer can he wait months or years to see if a plan will work. If scheduled objectives are not met, a Leader must admit the failure and quickly make changes. He must refocus the group and move forward with no loss of stature of self-confidence. Today, a leader must share information or risk losing the flock. The unrestricted access to information that today's technology provides us at home and at work has conditioned us to expect full disclosure. We fell alienated by anything less. People love an environment where they can make a difference: where they have the power and ability to make decisions. Prudent meaningful decisions cannot be made in a vacuum. Without information, people will leave in search of a more challenging and rewarding environment. It has become a mantra: the only certainty is the certainty of change. The consummate leader can navigate through radical change by keeping the group informed. It is during times of uncertainty that loyalties wean and people either go in search of another leader or are susceptible to the influence of alternative leadership. Like most formulas for success in business and in life: Leadership is not complicated. Just embrace the basic principles of communication and organization., have a passion for the mission and become a student of the playing field. Lynda Jackson is the founder and C.E.O. of Corporate Learning systems (CLS) Ms. Jackson successfully managed several divisions for large financial services companies, developed top sales producers in the high technology and financial services industries and conducted motivational and sales training Nov/Dec The Lease Closer Page 7 Seminars nationally for over twenty-five years. Her website is www.corporatelearn.com : Internet Data : Granieri
Associates Website: www.granieriassociates.com
Michael
Granieri e-mail: / Granite63@aol.com
The
Financial Services Monitor: www.monitordaily.com
The
Equipment Finance Journal: www.efj.com Other
websites worth a visit Four keys to managing change In a recent survey, 71% of companies said the ability to manage change was critical for business success. Of the companies that excel at managing change four themes emerged as secrets to their success: Nov/Dec The Lease Closer Page 8 1. Strong
leadership and commitment from executives. _____________________________________________________ Source: PA Consulting Group, Sunbridge Park & Mckinnon & Co. Granieri Associates: Top Gun Seminar Schedule Northeast
Midwest
South
West
Topic:
Lease Marketing Strategies Nov/Dec The Lease Closer Page 9 P MAP: Personal Marketing Action Plan It is generally understood in informed circles that a prerequisite for success in the selling profession is the setting of realistic income goals, and a plan for achieving them that is both implemented and evaluated. The PMAP (The Personal Marketing Action Plan) embodies the essence of successful planning and execution. The Anatomy of a Top Gun PMAP Set you
personal income goals for the next twelve months. ·
How much volume will you need to achieve your income goals? - What will be the sources of your volume. - What obstacles do you anticipate encountering in your quest to reach your objectives? Examples: Competition, A so-so Economy, and Price Wars. - What personal and corporate resources do you plan to bring to bear on these real or potential obstacles. - Be both realistic and specific in detailing how you plan to remove and roadblocks to your goal achievement. - Detail an evaluation of your strengths and weaknesses in the three elements of a sale - Product
Knowledge. Nov/Dec The Lease Closer Page 10 - Your remedial plan for eliminating theses weaknesses - Develop a PEP (Personal evaluation program) to monitor and evaluate your progress toward your goals - Top Gun Stress Point: Conduct weekly overviews to spot early warning signs of real or potential problems, and detailed monthly evaluations of progress or lack of it. Seek help in this area from your sales manager or another Top Gun Sales Person. - Implement a PIP (Professional improvement program) on a monthly basis. -Build your PIP around improvement in the three elements of a sale: Product, Prospect, and Presentation. - Develop a chronological plan for the implementation of your PMAP and stick with it. |
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