By: Andrea Mac | February 29, 2024

If you can only handle me in small doses:

I’m full of questions today.

1. Can anyone detail the nuances between licensing, white labeling, and collab deals for me? I know, like a million lawyers, certainly, one of you reads this and feels like calling me. In Times like these, you need an Outside General Counsel ;)

2. What conferences are on your radar for spring? What are you attending, and where are you learning?

3. Does anyone have a small business insurance company or broker that they love?

Building Prequal Vol. 29: Could Sales Be The Answer?

I'm sure you've seen it in your feed and from your contacts, too. It's not uncommon. Lately, I've seen an uptick in contacts who've lost their jobs recently. I've also recently talked to friends and colleagues about how they've been in the unenviable position of laying off employees at their companies.

I don't know if we're in a recession, downtown, or some other economic disruption, but we can all agree that news of a company's downsizing and people losing their jobs is a common headline.

Bottom line, poop is hard right now.

It's no secret that I think about revenue generation more than the average person. My mind is constantly marinating on how businesses make money, how entrepreneurs succeed, how people attract customers, and how customers become loyal, super fans. These ideas are constantly rolling around in my brain. And it's interesting because I'm seeing a disconnect between what is happening in the world and what is happening in my brain.

My brain is screaming that more people need to invest in their sales skills. And Companies need to double down on sales expertise, strategy and implementation.

Every single business in the whole entire world needs sales, and there needs to be formal education around sales skills, especially for those not traditionally considered sales roles. Sure, there are marketing courses and programs aplenty, but far fewer options for the person who wants to get better at selling. Yet, we are all in sales roles to some extent.

Sales is more than persuading someone within a single conversation to buy what you or your business are selling. That's what the average person thinks selling is and why so many people don't consider themselves sellers. However, that's bogus.

Do you interact with clients? Does your role make it easier for a customer or client to buy? Do you improve processes or streamline the way your company works? Do you have a network of people you can refer business to and vice versa? Do you problem solve?

If you answered yes, then you sell.

And if you can tie your activities to a company's P&L, you're in a better position to be seen as a valuable member of your company in this current economic environment.

Consider the following ways that sales skills can help you weather economic uncertainty.

Sales Skills Equal Revenue Generation

Sales skills are directly tied to revenue generation, and in a downturn, you or your company will likely be looking for ways to increase revenue and cut costs. As a result, those with solid sales skills can demonstrate how they contribute to a company's bottom line, whether by growing sales of existing products or services or by identifying new opportunities for revenue generation. You make yourself invaluable and recession-proof when you can count on yourself to bring in revenue.

The Strength of Your Relationships Will Put You Ahead

Another benefit of sales skills is building and maintaining solid relationships with clients and customers. Building authentic relationships in sales is one of the fundamental tenets of a strong sales plan, and in times of economic uncertainty, your relationships will become much more invaluable.

Businesses and individuals often need more time to spend money during a recession. They carefully consider expenses and may be more likely to do business with someone they trust and have a good relationship with. Sales skills can help individuals build and maintain these relationships, which can be invaluable in securing business and maintaining a steady income stream.

Easily Identify New Opportunities

Sales skills are also instrumental when identifying and capitalizing on new opportunities. During lean times, businesses may be forced to pivot their business model to survive. Individuals with strong sales skills are often the ones who can identify these opportunities and turn them into a source of revenue.

We Are All In the Business of Selling

We are all sellers because sales is more than making cold calls and pitches. You can impact your company's bottom line regardless of your position. The best news is that the more you can demonstrate your ability to think about sales this way, the more invaluable you become.

So, that's why I'm here in this Building Prequal, imploring you to consider investing in sales skills now. Whether at the beginning of your career or as a seasoned professional, you will never waste time learning how to sell.

Cheering you on,

-A.

P.S. I wasn't kidding when I talked about wanting more experiences this year. We have some Fun (with a capital F) stuff lined up at Prequal in the coming months. More information next week.