To Sell to a CEO-Think like a CEO
There is a common language used by top-level managers in every company, and these managers assume you can speak that language. It is a language centered on business concepts and understanding a handful of concepts. As a sales rep, what does this language mean to you?
For example, CEOs instinctively move toward the action that will maximize profits and minimize costs or expenses. Investment is the first concept and cost savings is second. To them this is as basic as breathing, and they often do not consciously even realize that they have moved in that direction. Sales Reps should understand this, and cater to the CEO’s instincts. However, many Sales Reps focus on costs, and they emphasize these over the investment side or over the impact on profits in presentations and conversations.
Time is money and the sooner a sales person can better understand the reasons a CEO or organization needs to utilize their solution, the better for both parties.
Here are four other things an executive assumes you know and practice.
Assumption #1: Knowing and Responding to Business Priorities
A business priority is defined by Ram Charan, Harvard business professor and author of an outstandingly valuable book called “What the CEO Wants You to Know,” as “the most important action that needs to be taken at a certain point in time.”
EXAMPLE-Sometimes this is hiring people as fast as you can, sometimes it is hiring only the absolutely A+ players, and sometimes it is not hiring at all.
Priorities can change quickly and CEOs expect that you understand that and are prepared to react accordingly. How many sales reps have been in that position, where their client totally changes direction and thus your solution is not in the direction they are now charting. What can you do? Keep informed, and be resilient. Adapt. Most CEOs expect the folks that report to them to be able to anticipate a change in priorities and make adjustments. Positive response to change and understanding that there are no absolutes are key attributes of a business-focused sales representative and one that stays in the game.
Assumption #2: Having an Investor Mentality
Do you think like how an investor in your customers company would think? The CEO has to think like an investor and make choices. This includes unpopular ones that give investors confidence. They focus on improving business processes and finding ways to cut costs. Sales Representative can be perceived as acting the opposite way. They push expensive tools (e.g. BI and HRMS systems) without showing how they will add to the profits or improve the investor perception.
You have to understand what the CEO is thinking in order to have any chance of creating a successful way of influencing her.
Focus on execution, on saving money and present the request for the HRMS system as a way to reduce the need for support staff. Show how the system pays for itself over some time period and, if the math doesn't work, adapt the idea.
Assumption #3: Quality Counts More Than Ever
Yes, every CEO I know believes in and supports total quality. It has become a mantra in the best firms, and most large (and many smaller) companies have instituted Six Sigma programs and Black-belt training. Sales have to emphasize quality and establish its own "black belts." What would an absolutely first rate, 100% "defect free" sales process look like? What would it "buy" your organization? Face it, most companies you deal with have a quality initiative on some level, does your sales force?
Assumption #4: Knowing How You Fit into the Strategy
The CEOs I work with assume that all departments know how they contribute to the big picture. They are expected to present what they will do to help the firm achieve its strategic goals, imperatives, or whatever you call them. If the CEO cannot get the information she needs to execute strategy, the strategy will fail and along with it the organization. You must know how your organization can fit into the overall vision of the firm and you must show how you can contribute to achieving business success. That means showing that value of your organization and how what you do will increase the profits of your organization.
That is ultimately all that a CEO really wants you to know or to do.
,a href="http://www.ere.net/articles/db/42CA3CCE7AC549A388A114EAA0A04201.asp"The Language of Success Article