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Time is Money in Sales
Hello and Welcome to Hisales consulting podcast. I’m your host Prakash Batna, and I believe in the philosophy - Selling is Fun, When you know how.
As a salesperson, failure is inevitable. You will fail, repeatedly, every single day. That certainly doesn’t mean that all failures are of equal significance. when a sales call ends in denial, most salesperson simply proceed to the next call. After all, the only thing one stands to lose from such a seemingly inconsequential failure is time.
Unfortunately, those who don’t analyze these little failures have forgotten the old adage, “time is money.” These small, common, failures combine into significant costs
“Time is Money” and this is so true in #sales.
In the early days of my career, I spent a lot of time reaching out to wrong clients resulting in delayed or no sales at all. I was of the opinion that getting rejected is a sales process – which of course it is. But what I didn’t realize was that with every rejected or bad call I’m losing out on time and opportunity. I clearly remember one such incident of mine - I was chasing this big client for business. I remember working on this big deal for quite sometime. A marquee client, large order size - big enough to take care of my annual targets. I was happy with my progress on this client which went on for 6 -7 months before the whole world came crashing when the deal didn’t happen.
I wasted lot of time as:
• I was stuck with wrong client who never wanted or valued my product
• I was too afraid to ask for an Order as I feared NO as an answer, so engaged in friendly conversation all the time without any concrete results
• I was blinded by the deal size rather than focusing on solution
Money can be earned, Time Can’t.
The Value of Time:
We often like to pretend we have an unlimited supply of time, but unfortunately, that isn’t the case. Every minute spent failing is a minute not spent succeeding.
The key to finding the value of your time lies in finding the difference between what you gained from failure and what you would have gained had you succeeded. For example, suppose a thirty-minute sales pitch wins over potential clients and your business earns 100,000. Whenever your sales pitch is rejected, you have lost more than just thirty minutes of your time. You’ve also lost the opportunity to earn that extra 100,000.
Also when we look at our monthly or yearly targets we feel we have lot of time to achieve the same, but you know that is not true. After you account for the holidays, vacation, Leaves, meetings, travels, time wasters you end up with less selling time and still far away from your numbers.
We all have 24 hours with us and a successful person knows how to use time to his advantage and make it work for him.
Wasting time is not an option. Staying focused on the most important things always must be the goal of the day! But it's not easy. As a salesperson, you must keep a lookout for these 5 time wasters
· Travelling for the sake of travelling
· Too much time in reporting
· Excessive documentation
· Doing everyone else’s job
· Spending too much time in planning and detailing
I have no doubt that Time and Timing is very important in sales, in personal and professional lives as well.
And that’s it for today. Do keep listening to my sales and selling podcast and Don’t forget to follow, like hisales consulting on the Linkedin and FB platform. Also check out my website www.hisales.in for free resources and blogs.
Lastly, let me know what you think and I greatly appreciate it. Thank you.
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By PrakashHello and Welcome to Hisales consulting podcast. I’m your host Prakash Batna, and I believe in the philosophy - Selling is Fun, When you know how.
As a salesperson, failure is inevitable. You will fail, repeatedly, every single day. That certainly doesn’t mean that all failures are of equal significance. when a sales call ends in denial, most salesperson simply proceed to the next call. After all, the only thing one stands to lose from such a seemingly inconsequential failure is time.
Unfortunately, those who don’t analyze these little failures have forgotten the old adage, “time is money.” These small, common, failures combine into significant costs
“Time is Money” and this is so true in #sales.
In the early days of my career, I spent a lot of time reaching out to wrong clients resulting in delayed or no sales at all. I was of the opinion that getting rejected is a sales process – which of course it is. But what I didn’t realize was that with every rejected or bad call I’m losing out on time and opportunity. I clearly remember one such incident of mine - I was chasing this big client for business. I remember working on this big deal for quite sometime. A marquee client, large order size - big enough to take care of my annual targets. I was happy with my progress on this client which went on for 6 -7 months before the whole world came crashing when the deal didn’t happen.
I wasted lot of time as:
• I was stuck with wrong client who never wanted or valued my product
• I was too afraid to ask for an Order as I feared NO as an answer, so engaged in friendly conversation all the time without any concrete results
• I was blinded by the deal size rather than focusing on solution
Money can be earned, Time Can’t.
The Value of Time:
We often like to pretend we have an unlimited supply of time, but unfortunately, that isn’t the case. Every minute spent failing is a minute not spent succeeding.
The key to finding the value of your time lies in finding the difference between what you gained from failure and what you would have gained had you succeeded. For example, suppose a thirty-minute sales pitch wins over potential clients and your business earns 100,000. Whenever your sales pitch is rejected, you have lost more than just thirty minutes of your time. You’ve also lost the opportunity to earn that extra 100,000.
Also when we look at our monthly or yearly targets we feel we have lot of time to achieve the same, but you know that is not true. After you account for the holidays, vacation, Leaves, meetings, travels, time wasters you end up with less selling time and still far away from your numbers.
We all have 24 hours with us and a successful person knows how to use time to his advantage and make it work for him.
Wasting time is not an option. Staying focused on the most important things always must be the goal of the day! But it's not easy. As a salesperson, you must keep a lookout for these 5 time wasters
· Travelling for the sake of travelling
· Too much time in reporting
· Excessive documentation
· Doing everyone else’s job
· Spending too much time in planning and detailing
I have no doubt that Time and Timing is very important in sales, in personal and professional lives as well.
And that’s it for today. Do keep listening to my sales and selling podcast and Don’t forget to follow, like hisales consulting on the Linkedin and FB platform. Also check out my website www.hisales.in for free resources and blogs.
Lastly, let me know what you think and I greatly appreciate it. Thank you.