Month: Aug 2009

Selling change – Part Four

Understanding the process of change – bringing it all together.

Yesterday, we promoted the importance of questioning. Because it is only through answering questions that we see new perspectives. In a sales situation, the skill of the salesperson is to have great in-depth knowledge about their products and services, the many ways in which existing customers use your solutions and likely areas of ‘pain’ that your prospective customer may recognise.

That requires a good understanding of the industry/s that your customers work within. Because without that, you can’t ask the focused questions that will quickly get you an insight into the prospect’s situation. The other bonus coming from knowing the prospect’s industry is that the sales approach will enable your prospect to feel as though you are there to help him.

Continue reading “Selling change – Part Four” →

Selling change – Part Three

Understanding the process of change – Discovering the needs

In yesterday’s Part Two, we raised the important question of how we change our views. Of course, in selling the ‘we’ is the person you are selling to. But to see into their view of the world, it obviously helps to think about ourselves for a while.

The psychology of change is beyond the skill set of this author and is one of many areas left to the psychology professionals. However, here is a very basic notion that works for the salesperson.

The role of questions is to elicit answers. (You see, I did say it was basic!.)

But straight away, one particular widely-held idea is going to be destroyed.
Read more of this essay on change

Senator Edward Kennedy, a big loss for all of us.

Veteran US Senator, Edward Kennedy, dies at the age of 77.

Senator Kennedy had been battling a brain tumour for a long time; his death makes this a very sad day.

The BBC has a good tribute to him.

James Kwak of Baseline Scenario makes his tribute personal, and all the better for it.

I have nothing new or insightful to add, but it feels wrong to go back to blogging without paying respects to Ted Kennedy. When I was younger and perhaps more idealistic, I used to carry around a copy of his speech at the 1980 Democratic National Convention. He was a man who cared about the poor, the unemployed, and the sick, even as their cause became less and less fashionable over the past four decades. He believed that justice went beyond formalistic legal rights and extended to economic and social conditions as well. The Senate needs another person like him, but sadly will not find one.

By Paul Handover

STS-128 Mission

This always gives me a thrill.

Hopefully, by the time you read this Post, shuttle Discovery will have had a successful and fault-free launch.

Here was how it looked at the time of writing (13:30 MT/20:30 GMT on the 24th)

Awoke to find that poor weather has delayed the launch. Here’s a pic of the bird standing out in the rain last night.

Shuttle in rain

By Paul Handover

Selling change – Part Two

Understanding the process of change – Upsetting the Homeostasis

In yesterday’s Post on this topic we left the reader with a ‘flow chart’ of the process of change within a business and, slightly tongue-in-cheek, how that compared with change at a personal level.

What is the role of the salesperson in facilitating this process?

Well, firstly the salesperson should have established that the potential client ought to have a need for the solution. (That, at least, ups the odds of an effective use of sales time.) Whether that is from knowledge about the company or its business, a referral from somewhere else, or a solid sales reference from another customer, i.e. another of the salesperson’s customers is a good example of using the solution.

Continue reading “Selling change – Part Two” →

Selling change – Part One

Understanding the process of change is vital in selling.

When a potential customer is considering a solution on offer from the sales person, it is almost inconceivable not to think that your contact is going through a change process. In business-to-business selling most new solutions require the acceptance of change.

With that in mind, it would be wise to consider the change process. Now the challenge is that the author may have a few decades experience as a salesman but zilch experience or qualifications as a psychologist. Thus this Post looks at a salesman’s understanding of what appears to take place.

Change cartton

Essay One – Inflation – Part Three

Inflation, deflation, economic crisis and so on, getting to the bottom of meanings.

Inflation – Part three

Part One was published on the 23rd.

Part Two was published on the 24th.

Sherry writes:

I think we are getting somewhere!

You’ve zeroed in on the key question, I believe: why is there an inflation risk while the outlook remains so grim?

Inflation is a (sustained) increase in the equilibrium price of goods and services.

The price results from the interaction between two completely independent sides of the market: the demanders and the suppliers. Think of money (or a debit card, whatever form money takes) as an enabler of demand — it makes transactions easier, quicker, and thus more transactions result. The higher the supply of money, the more enhanced the underlying demand for goods and services (by consumers, business, and government).

So more money, higher demand. Higher demand, higher prices. Higher prices, higher inflation.

More on that Vulcan

Vulcan XH558 and Red Arrows, Dawlish, Devon, England, August 20th 2009

A few weeks ago, a Post featured the Avro Vulcan, a Cold War nuclear bomber returned to flying condition. Well here it is again, with friends.

Dawlish is a lovely, typical sea-side town in the county of Devon in the SW of England. It is less than 15 miles away from Totnes in Devon which, for many years, was my local town.

The weather in Dawlish can be delightful – sometimes!

But the setting is perfect for an air show.

Essay One – Inflation – Part Two

Inflation, deflation, economic crisis and so on, getting to the bottom of meanings.

Inflation – Part two

Part One was published on the 23rd.

Paul responds

Sherry,

My first realisation is that I don’t really understand what “money growth” really means. In fact I am little uncertain about money, as a concept!

Are we talking ‘growth’ as in more and more money being lent to the US Treasury Department from the [ever increasing] sale of US Treasury Bonds?

If the sale of these Bonds is to banks or institutions outside the US then there is a flow of money coming into the US via the Treasury Department that then comes into the economy via various Government programmes. Is that correct?

But this is money lent to the US. That means that in order for the US to pay it back (plus interest) there has to be the expectation of taxation income in the future sufficient to meet these debts. As my Pension advisor said, “More credit also means more debt.”

Essay One – Inflation – Part One

Inflation, deflation, economic crisis and so on, getting to the bottom of meanings.

The background.

Not so long ago there was an exchange between me and Dr Sherry Jarrell about the meaning of inflation. Dr Jarrell is, in every meaning of the words, a qualified economist so when I had the courage/stupidity/ignorance to query her views I could not have been more surprised to receive this:

You won’t reveal a lack of understanding of economics — there are co-existing opposing points of view on the topic – that’s why it made for an interesting discussion! (My italics)

This got me thinking. If your author, who is reasonably well-read about many things especially protecting what little wealth he has, can miss such a fundamental point, then there must be a huge number of other people who, likewise, miss the point and, even more important, don’t even realise it!

Over the last few weeks Dr Jarrell has not only found time to debate with me, she, too, has realised that a more rigorous exploration of what many economic and financial terms mean has real value for readers of this Blog as well her own Blog.

Therefore I am delighted to welcome Sherry Jarrell to the team of authors.

These essays will attempt to distil clarity out of a number of basic economic ideas, starting with inflation. That seems to be a worry widely ‘predicted’ in the general media as well as elsewhere.

The essay is in the form of a debate format, albeit virtually. We hope it is both informative and educational. Please let us know by leaving a comment!

Inflation.

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