In order to be transparent, let’s start this article by disclosing I own a sales training and consulting firm, therefore, some of this information may appear to be self-serving.  With that warning, read on.  We have just gone through the wildest week ever on Wall Street.  Many government officials are scratching their heads wondering why the $700 billion dollar bailout didn’t alleviate the worries of the consumer.  They are/were shocked that people kept pulling money out of the stock market and didn’t trust their battle cry that everything was going to be okay.  “DUH!” is the best response I can muster.  Government officials need to spend some time in the profession of sales and learn basic Sales 101 skills when it comes to satisfying the customer. 

Sales 101 Lesson #1: Accountability and Truth Telling

Every sales professional learns early on in their career not to blame the company or a specific department.  They represent the company and must take responsibility for problems no matter where problems originate.  Taking ownership of the problem builds trust with customers because the customer knows three things:

• The problem has been acknowledged.  

• A specific person is taking responsibility for the problem regardless of whom or what else is involved.   

• They know there is one person who is going to lead the charge to get it solved.

  Maybe I am missing some news coverage, but has anyone seen any person from the republican or democratic side say, “It’s my fault.”  The result is we don’t believe all the rhetoric and continue to pull money out of the stock market.  Every good salesperson also knows that being genuine and authentic is the number one skill in persuasion and building trust.  The American people would probably be somewhat forgiving, more trusting, and willing to buy if we could hear some truth telling like:

  • “Our intention in reducing the loan qualification standards to get more people into homes was correct.  The methodology was wrong.  We screwed up.”

  • “We got greedy and lost our way.  We crossed the line and then the line disappeared.”

    Instead, egos and personal agendas get in the way of serving the customer and there is no admission of error or remorse. 

    Sales 101 Lesson #2: Sell to the Customer’s Needs

    Every good salesperson is drilled with one concept when entering the sales profession:  listen to the customer’s needs and fill that need.  If you want to see what not listening to customer’s needs look like, tune into those things called “debates.”  Both candidates are oblivious to the biggest need on our minds right now – THE ECONOMY.  The candidates are busy satisfying their set of needs, which is the need to diminish the other person’s record/personal character or talk about their pet projects of war, education and healthcare.  Although all those are important needs, they are not the need that is keeping everyone up at night.  It’s also interesting to watch the candidates field a question and supply an answer that has nothing to do with the question but everything to do with their agenda. If that happens on a sales call, the prospect quickly dismisses the salesperson because they are self absorbed and the sale is lost.   

    Sales 101 Lesson #3: Align the Solution to the Customers Pain

    Thousands of dollars are invested every year in presentation skills training.  I have a new sector for presentation skills trainers: The United States Government.  Imagine a salesperson showing up to a prospect with a $700 billion dollars proposal and selling it in the same fashion as the government’s bailout presentation:  “You need to do this, you must make a decision right now, and we have to add in stuff you don’t want in order to deliver the solution.”  All of us in sales know we would promptly be fired for such a poor proposal and delivery.  I guess that same standard doesn’t exist in government. 

    Sales 101 Lesson #4: Pay for Performance

    Many people worry that salespeople are paid on commission and don’t care about their needs.  Let me suggest a different perspective.  When a person is paid on performance, you must deliver in order to get the business, keep the business, and get referrals.  You actually step up your game because there are no guarantees on your next dollar.  What a concept!  Imagine if CEOs running these large financial institutions made money when the company is making money and lost money when the company is losing money.  Has anyone seen a salesperson get a golden parachute for not achieving their sales goal?  Take the gold out of the parachutes and CEOs will be much more careful about jumping into stupid opportunities. 

    Sales 101 Lesson #5: Actions Speak Louder than Words

    Is anyone else amazed when you hear the candidates and others saying, “I wrote a letter.  I warned congress.”   Now put that same verbiage into sales: “I wrote a letter to the prospect.  He didn’t buy.”  The sales manager would have one answer for the salesperson: “No one cares about your intentions, we only care about results.” Government must truly be a great place to work.  Just remind everyone you tried to make something happen and you get rewarded as if you actually did.  Everyone is appalled at AIG’s arrogance and ignorance on their $400,000 junket.  Anyone seen any action to get that money back?  AIG’s response is rather pathetic, “It was already in the budget.”  So was my retirement account. 

    Stop campaigning and get the candidates and congress enrolled in some sales training.  Maybe we will see the stock market reverse.