THE 80/20 RULE

Most of us in the sales profession have heard of the “80/20 Rule.” The rule states that 80% of the business in a given industry is done by 20% of the salespeople. After 32 years as a salesperson and sales leader, I’ve found this rule, as a rule, is true. In my role as a sales trainer and consultant I’ve taught many salespeople across several markets and these stats have held true.

What separates the 20% from the 80%? Do they put in more hours? Maybe. Are they smarter? Sometimes. Is it company politics as the 80% often believe? Rarely. Sales winners share a common set of fundamental skills that get them to the top and keep them there. What are these sales fundamentals and what role do they play in getting a salesperson to elite status? Let’s take a look at what I like to call the “L’s” of professional selling.

LISTENING

It might come as a surprise to many sales folks that the 80/20 rule comes into play here too. Elite salespeople spend 80% of their time listening and only 20% of their time talking. Only the customer can tell me what they need. Only the customer can help me understand the challenges they face. When I’m mentoring salespeople, I share this little memory aid to drive the point home: “IF YOUR SELLING IS TELLING YOU’RE NOT HELPING.” Sellers move products to earn commissions, while helpers provide solutions that solve problems. Focus on the latter and you won’t have to worry about the former. Listening is the only way you can get to the second “L.”

LEARNING

Top sales performers always seem to be one step ahead of their competition. They don’t just respond to customer requests, they help write them. They don’t guess what their competitors are going to do, they know. Sales leaders consistently invest their time in learning more about their customers, competitors, industry and solutions. They become an indispensible knowledge resource to their customers. I encourage my customers to call me first when they are looking for answers. Then I work my ass off to either know the answers or know where to find them.

Salespeople who commit to continuous learning and active listening will start to realize a bonus benefit. They will begin to anticipate the challenges their customers will face and work proactively to solve them. To do this well, they will need the third “L.”

LEVERAGE

Clint Eastwood’s movie line is appropriate here. That line is “a man’s got to know his limitations.” Top sales pros know and accept this reality, then develop a team of expert resources to fortify their value to their customer. 20% salespeople work with other 20% professionals. They cultivate a team of top technical, financial, implementation, training and leadership resources on behalf of their customers. Those at the top are not only good team leaders; they are good team members and players. They give to and take from their support resources as needed. They are extraordinary communicators and project managers too! However, strong listening, learning and leveraging skills pale in comparison to the importance of the fourth “L.”

LOVE

For elite sales professionals, one thing is more important than all the skills they must develop to be a top performer. They must love what they do! Winners love listening to their customers, they love learning and they love working with others to help customers' accomplish their goals.

Do you want to succeed in sales or life? Be passionate! Develop a passion for listening. It gets results at work and at home. Develop a passion for learning. Knowledge is power. Develop a passion for helping others. It will give you leverage in the business of life. Remember the famous quote; “Love what you do and you’ll never work another day in your life.”

Until next time…

Gene

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