Do You Know What You Think You Know?

Credit: Tiffany Fox

Flying through the air on a motorcycle isn’t the time to find out that you don’t. The dude on the bike is committed and more than a little bit nuts. But he did manage to land correctly.

Let me ask again in a business context. Do you know what you think you know about your clients? Do you understand all the ways they make money and sell their stuff? Do you have a plan for every pocket you've identified? I repeat...louder this time, DO YOU KNOW WHAT YOU THINK YOU KNOW?

I ask because regardless of claims to have clients profiled, I rarely see it in the marketplace. Companies depend on reps to be 100% of their eyes and ears and settle for modest penetration. Investment plans can be misinformed.

In a previous life (back in my know-it-all 30's) I was doing business with a large bank. If you visited one of their branches you would see my work. I printed service brochures, lobby signs, display graphics, statement enclosures, ATM graphics and branch locator maps. I even did their newcomer kit. I "owned the bank" as a confident rep might boast.

One of the guys I did work with was moving away so the office held a sendoff party. It was a festive affair and lots of fun. I was invited and enjoyed being one of only two outsiders (non-employees) to be included.

I knew why I was there. After all, I was BILL GILLESPIE owner and provider of all things. I owned the account.

But who was this other dude? Who was this nerd and didn't he wish he could be me? How did he manage to get invited?

Turned out this other dude was a print rep. He printed fee schedules for the bank. Anytime an account was opened a document was sent to the client. He printed millions of pieces each month between updates, new accounts and rate changes.

So while I did $1.6 million with the bank, he did much, much more. While I was jumping through hoops on color, he was cashing checks & printing documents 24/7-365. I thought I owned the work, but I was only renting. He was the man!

I didn't even know this department existed. I had failed to do my homework and didn't know what I thought I knew. I became satisfied with what turned out to be modest success. I have an identical story about a soft drink giant. You see, I made this mistake more than once.

So, do you profile your clients? Do you examine their business in an attempt to identify every pocket of spending?

You should. Doing so is more valuable than leads you can buy or lists being peddled by data collectors.

This "Better Than Average Sales Dude" learned a valuable lesson at the bank party. If you sell stuff, I hope you'll take it from me. Make a map of your clients and prospects. Learn all you can about every hiding place. Build a plan and grow your volume.

I managed to apply that lesson to great success going forward. It changed my life.

Owners, you have a right to expect this from your sales leadership. Sales Leaders, you owe this to yourself and your company. You need a business plan for every department you can identify. It's not rocket science, it's just hard work.   

One thing I know that I know. My feet and any wheels I’m driving belong on the ground. If you see me in the air, it will be Delta or a really big mistake.