Tony’s tips for Big ticket selling
MD2MD member Tony Waters has many years of experience developing large scale relationships with global corporations and winning multi million pound contracts. Tony recently shared with his group his summary tips for successful Big Ticket selling and we’re pleased he has agreed we can share those tips on the MD2MD blog for the benefit of other Managing Directors.
Modest as always, Tony begins with a health warning as follows:
- All these ideas are borrowed
- You have probably heard them before
- You probably even use them (in some form) yourself
- I share them because they work for me, even if I don’t always get them right myself!
He then goes on to set out his five key tips:
- Seek first to understand then to be understood
- Act as if you are already the supplier
- Think: How does what we do help you to make more money?
- Build ‘temporary monopolies‘
- Keep it human!
Taking those points one at a time:
|Seek first to understand then to be understood||Research – Use the internet and other sources
Who are the key people and how do your contacts fit?Look for left field angle / common ground
Do you both belong to the same organisation, have common contacts / background, similar hobbies?Strategy – where do we want to get to?Structure/responsibilities – who is responsible for what, on both sides?
The ‘engine’ – how are we going to get there?
|Act as if you are already the supplier||Activity level – the promise of what’s to come
Attitude – confident and dedicated
Relationship building – demonstrate trust
The opportunity will come
|How does what you do help the client to make more money?||Key question to build value proposition
Establish key linkage (not always spelt out)
Leads to what to do more of … and less of
Key to a winning offer (covers all bases)
|Build ‘temporary monopolies’||Make offer profitable (of course)
Make offer sustainable (deliver every time)
Make offer hard to replicate
Build next ‘temporary monopoly’ (before the others catch up and deflate value)
|Keep it human!||Take time to know as many people as you can
You may not know who can help you
You may not know who can destroy you
Everyone needs friends!