Secrets of Great Rainmakers | Jeffrey J. Fox

Summary of: Secrets of Great Rainmakers: The Keys to Success and Wealth
By: Jeffrey J. Fox

Introduction

Welcome to the world of ‘rainmakers,’ the elite salespeople who bring in large sales and excel in tough situations. In the book ‘Secrets of Great Rainmakers: The Keys to Success and Wealth’ by Jeffrey J. Fox, you will learn about the attributes that set them apart from the rest. Explore the strategies to overcome adversity, adapt to change, and take calculated risks. Discover the importance of researching potential customers, crafting compelling pitches, and building professional relationships to achieve success in the world of sales. Rainmakers not only relish in their chosen field but flourish, outperforming their colleagues and holding the key to unrivaled success.

The Art of Becoming a Sales Rainmaker

Developing exceptional sales skills can make anyone a salesperson, but becoming a rainmaker requires finely honed abilities and hard work. Rainmakers are the experts who excel at closing important deals, confronting challenging situations, and maintaining sales success in any economic environment. Sales teams and businesses benefit highly from these adept professionals. Rainmakers are not just limited to the sales department; they can be a valuable asset in all areas of the business by persevering in tough environments, making the most of a competitive environment, and coping with rejection.

Becoming a Rainmaker in Sales

A salesperson who struggled at first learned to become a “rainmaker” by studying successful salespeople, trying new approaches, and taking calculated risks. She found that getting appointments with higher-level executives was more effective than cold calling. She also did her homework by researching the company and its industry, identifying hot issues, and envisioning possible objections. She wrote short, powerful letters to gain the customer’s attention and followed up with phone calls to get a face-to-face meeting. During the meeting, she showed the decision maker how her product could save money and eliminate waste. By following this specific plan, she won a $400,000 order that led to subsequent sales.

In the world of sales, success often hinges on learning to become a “rainmaker,” someone who relentlessly does things that ordinary salespeople sometimes do or never do. This is the lesson that a salesperson learned after struggles with cold calling and being dismissed by prospective clients. Instead of giving up, she decided to try a different strategy: spending more time on getting appointments through phone calls, mail, and personal notes. She found that by doing this, the potential clients had a reference point to begin with, making her more familiar to them.

The salesperson also began studying successful salespeople, reading books and taking classes. While others’ approaches did not make her successful, they did help her to identify what did not work, leading to a new approach of calling on higher-level executives. She honed in on a target account where she studied the company and its industry, identified the chief financial officer as the decision maker, and reached out to him with an offer that could save his company $50,000.

To gain the CFO’s attention, the salesperson wrote a short, powerful letter with a postscript that had a high readability rate. When she followed up with a phone call, her goal was not to sell anything, but to get a face-to-face meeting. During the meeting, she brought in a workflow expert and confidently explained how her product could benefit the CFO’s company. She did not discuss the technology, pricing, features, or benefits at this point. Instead, she asked for permission to conduct a free “cost savings discovery” to help streamline operations and eliminate waste.

Her approach paid off when the CFO assigned a staff member to work with her. After the study, she showed the CFO how to save $5,000 per month during the first phase of implementation, excluding the cost of buying her product. The CFO’s initial $400,000 order led to more sales. By working with the customer who could say “yes,” she became a “rainmaker.”

In summary, becoming a rainmaker in sales requires a specific plan that involves doing your homework, planning your sales call, writing short, powerful letters, and planning your follow-up phone call. By identifying the right people, determining what they need, researching the costs they are already sustaining that your service might address, identifying hot issues, and envisioning possible objections, you can gain the attention of a decision maker and win the sale.

Starting Your Meeting on the Right Note

Begin your meetings with a simple question establishing a formal start, setting your agenda and pacing. By getting the customer to agree to a pre-determined time, it is an implied “yes” towards making a purchase. Avoid false bonding efforts during initial meetings to focus on your message. Remember, “remembering the little things and acting on them is never beneath a rainmaker.”

The Art of Rainmaking

Rainmakers focus on educating and dollarizing the value of their solution, while practicing constantly to achieve sales success. They believe they have no competition and aim to control the sales process.

Rainmakers don’t view competitors as a threat. Instead, they’re exclusively focused on making customers aware of the value they offer and why their product is superior. To emphasize their point, they often express the value of their solution in monetary terms. For instance, if their product significantly reduces production waste, they showcase the thousands of dollars it can save the customer’s company.

To educate the customer, Rainmakers discover what customers know about their product, correct misconceptions, and refer to other firms respectfully if the customer brings up a competitor. By doing so, they maintain the control of the sales process.

Sales is a contact sport, and Rainmakers apply a lot of effort to it, whether they’re selling a product, application or bringing in new customers. They practice continually and go wherever the customers and decision-makers are, whether it’s on an airplane or in their car. By practicing regularly and dedicating all their energy to the sales process, Rainmakers achieve outstanding sales success.

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