Succeeding in Sales – Focus on building relationships rather than closing deals

It may seem counterproductive to focus on building relationships when your job is to close deals, but to Jeff Fox, Senior VP of Sales for Tygris Asset Finance, it’s the only way to succeed in sales.

I’ve met a lot of people over the last 30 years in sales – some I was able to do business with and others are people that I may be able do business with someday. You have to be honest about what you can and can’t do when you’re in sales. If someone needs something that you don’t have or can’t provide, don’t waste their time. Help them out by pointing them in the right direction to solve their problem and chances are they will remember you the next time when they need something that you have.

Another thing that I always emphasize to other sales people is to build the trust. Being honest with people goes a long way but finding a way to connect with people that you’d like to do business with is also important. The people in my rolodex are people that I like and care about. We share a common interest, experience, goal or something else. With some people it takes a while to figure out what your connection is but it’s worth the effort. It’s always easier to maintain relationships and to do business when it’s not just about business.

Be open to new opportunities even if things are going well. I got my start in healthcare because I was successful selling machine tools. About 20 years ago the mobile medical industry was just starting and all the major companies like GE, Siemens, and Philips needed trailers that could move their imaging equipment. There was a company in the Midwest, at the time it was the smallest of 3 companies in the US, selling the trailers. They hired 2 sales reps, one with a pharmaceutical sales background and one with a machine tools background. The rep with the machine tools background was the most successful so the company searched for another like him and fortunately, they found me. You never know when opportunity is going to knock on your door or why someone might be knocking. It’s worth listening to what they have to say.

There is one more thing that may be more important than anything else and that is to know who you are. I think of sales people as either Farmers or Hunters. If you’re a Farmer you develop the business like a pharmaceutical rep – regularly meeting with the docs, doing infomercials over lunch for office staff and leaving free samples. If you’ve got a good product and the price is reasonable your sales will grow as the relationship develops. Hunters, on the other hand, usually sell big ticket items, like machine tools or medical equipment. The customer’s need is satisfied with one purchase so it’s pretty competitive. Most Hunters will start out with a “hard sales approach” selling features and benefits until they’ve established relationships and developed a good rolodex. It usually takes a few years. The hard sales approach is not for everyone which is why it’s important to know who you are.

Questions about succeeding in sales? Ask Jeff. Post your questions for Jeff as a reply.

Jeff Fox
VP of Sales
Tygris Asset Finance