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Chapter 13 - The Accumulated Value Of Sales Effort
In 1706, a certain Ancient Law case was heard in the English Courts. This case reveals the startling results of things that are left to the process of accumulation and vividly illustrates what I propose to discuss in this chapter: "The Accumulated Value of Sales Effort." The case in question is that of Thornbarrow vs. Whitacre (2Ld. Raymond 1164). And the facts, according to the defendant's counsel, were that his client had agreed, in consideration of a small sum of money, to deliver to the plaintiff two grains of rye corn on a certain Monday, four on the following Monday, eight on the Monday after, and so on in geometric progression for a period of one year. In other words, the number of grains was to be doubled each week, and this was to be continued for a period of 52 weeks. Without doubt, the defendant thought he had contracted to deliver only a small quantity of grain, but it was said at the trial that all the rye in the world was not too much to satisfy the obligation. The quantity amounted to 524,288,000 quarters—a quarter being eight bushels or a fourth of a ton. It would have taken over four billion bushels of rye corn to satisfy the obligation! In order to appreciate the full value of accumulated effort, it may be wise to inquire into its significance. Accumulated effort is gathering or throwing into a heap all past performances and experiences. It may be illustrated by a snowball. The snowball does not roll itself, but when effort is applied it not only rolls, it also gathers snow as it rolls. In other words, it requires effort to roll the ball. In selling, you have been storing up and rolling up a heap of experience, and you have paid a definite price for this experience. It represents an exertion of both physical and mental power which you have expended in the direction of obtaining results in the field of selling. It is worth money to you, and therefore you want to make every effort to utilize it. The three methods that follow will show you how to utilize your accumulated selling experience to its best advantage. 1. Keep a Complete Record of Your Sales Effort It is the custom of all business houses to install a system of accounting which co-ordinates all departments of the business into a composite whole. All transactions are minutely detailed and recorded. This is a quick visible means to determine the status of the business. Each department of the business is checked in relationship to the whole unit. Every few months an audit is made and each department is checked and compared to the other departments. A balance is struck. A business house operating under this system can easily determine progress or failure, and, as a result, many businesses are saved from failure and progress is made. Possibly as a salesman you do not need an accounting system, but you do need a system to keep a complete record of all your sales activities. Every call, every appointment, and every interview has its value. Keep a complete record of each performance, with the results obtained and all other information that might be of value to you. Every month take time off to review each experience and to examine thoroughly each performance. This will teach you how to analyze and improve your past performances and also to broaden your experience. It will help you develop and create a more scientific plan with which to make more sales. Evaluating your sales experience and visualizing it in conjunction with your creative ability will generate enthusiasm and automatically produce more sales. Your "summing up" will incite and arouse you to greater action. As you review each interview, ask yourself: What was the outcome of the last call I made on this prospect? What was his reaction? Was it favorable? Was he averse to my product? Did I make the proper suggestions? Did I apply the right tactics? Was I lacking in detailed knowledge? Did I make a good impression on the prospect? What was his reason for postponing the sale? Was his excuse feigned or valid? In making this analysis you will uncover many hidden ideas and suggestions that will help you serve the prospect more effectively. Then too, your analysis will invariably uncover a situation that will exhort and incite you to greater effort. The prospect who put you off yesterday may be a fresh prospect today. So out you go to see him, and you turn an old prospect into a new customer. 2. Make Periodical Reviews A gold mine is only a concentration of precious metal under the ground. Its deposits are of no particular value to anyone until they are mined and refined. The finished product results from the application of effort and thought. You have a gold mine in the form of stored-up records of past experiences. You can easily utilize these experiences with a little thought and effort. There is the old saying: "If you want something done, go to a busy man, and he will do it." And why go to the busy man? Because he is able to evaluate his time and use it efficiently. Therefore, as a salesman, learn to use your time efficiently, and you will be astonished at what you can do in a short period of time. As a salesman, you render a
service to others. Every constructive thought toward the completion of a
sale is a contribution toward that service. The perfection of this service
in its detailed performance is greatly enhanced through retrospection. As
you look back on your experience and utilize it, you will appreciate the
value of patience, diligence, sincerity, alertness, and kindness. You will
establish a broader range of thought, and a higher realm of insight and 3. Turn Your Accumulated Effort into Cash The hardest and most trying task in selling is to find someone to buy—a live prospect. Selling is comparatively easy when the prospect is spotted. In your records you have an assortment of prospects, and you know something about each one. Your past experience has taught you how to approach them, and, in many cases, you have sensed the appeal to make to them. However, for one reason or another, you have been unable to consummate the sale. But "Don't give up the ship!" Try again. Sometimes what you think is chaff may be wheat. What you considered only a suspect may turn into a real live prospect. When calling on one of your old prospects, remember that every prospect is someone's else customer, and if you do not sell him, someone else will. Since you have an inside track to the prospect, you have a better chance to do business with him than the next salesman. You, the salesman, may be inclined to become discouraged. But, by reviewing and properly evaluating your past experiences and performances, you will always uncover something that will invigorate and incite you to action. As you review the record, you run across an old prospect whom you almost sold a month before. As you read the records and recall the experience of that particular prospect, your blood begins to boil and your enthusiasm begins to glow, so out you go and make another sale. This "peps you up." Again, negative thinking is turned into positive action. Pessimism is turned into optimism. Discouragement and despair are turned into hope and confidence. The low tide of disappointment is again turned into the high tide of a sale, and excuses are again turned into checks. In our economy, economic, political, and social changes come about so quickly that a man who was merely a suspect yesterday is a live prospect today. In 100 old prospects you may easily find 25 sales. In a chapter on "How the Law of Averages Can Double Your Sales," you were reminded that the Law of Compensation never fails to reward you for honest effort, even though the payment may be delayed. Therefore, exercise your patience. Cash In on Your Investment Every prospect you have approached has cost you time and effort. You made an investment of knowledge, skill, and ability. Your investment has a definite cash value, and no one can actually realize it but you. The Bible tells that the stones that were cast away were the stones that became the cornerstones. Before you discard, endeavor to make another deal; you may find experience that will enhance your selling ability. You may uncover a prospect in whom you had only the remotest hope and turn him into one of your best customers. This has happened to me many times. Once I had a prospect buried so deep in the file that the card bearing his name was yellow when I removed it from the folder. I decided to take another chance, and it "paid off" I made one of the best sales of my entire selling career. Don't give up the ship, even though it seems to be sinking. Therefore, in concluding this chapter, let me suggest that you make a complete analysis of your sales effort. By all means endeavor to set up a system to record all your past performances and analyze each experience. Watch for that flash of intuition that may bring you a hunch about an important lead that may be easily turned into a sale. Do not undervalue the prospect's ability and willingness to buy. Then utilize the knowledge and experience that you gain by making use of the principles outlined in this chapter. It might interest you to know that if, in 1492, Columbus had deposited one dollar in the Bank of America at 4 per cent interest, compounded annually, by 1954 that dollar would have accumulated enough dollar bills to reach from New York to London. This hypothetical example only shows once more how things accumulate. It will pay you to transfer the dormant ideas of accumulated experience from the Bank of Past Performances over to an active checking account in the Bank of Sales Completed. This privilege lies within your domain. Make use of it.
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