Creative Destruction

WHAT? The world and the global marketplace are constantly changing. And they are changing at a dramatic rate. In order to remain competitive and not become a dinosaur, you have to be constantly evaluating how to reinvent yourself (i.e. expand your philosophies, strategies, tactics and skills).

SO WHAT? Triumph Motorcycle had 50% market share in the 1950s. Today, it has less than 1%. The business community is full of stories of companies that didn’t respond to the changing marketplace (like the frog). Since you are the CEO of your sales franchise, it is important for you to be constantly assessing your knowledge, your skills and your sales messaging (so that it matches what is happening to your customer’s industry).

NOW WHAT? Jim Heath, a successful executive of a $6B company, has outlined these principles for constantly re-creating yourself.

  • First of all, the very best want to build a sustaining franchise (your sales territory).
  • The very best are constantly tweaking/changing their business strategy to ensure their franchise endures through ALL situations.
  • The very best reinvent themselves to make sure they are exceeding their customers’ expectations and staying ahead of their competitors (this requires becoming knowledgeable about trends that are impacting your customer’s business). They review those trends and play “ware game” simulations to see how different scenarios may play out and how to take advantage of those scenarios.
  • The very best have a three- to five-year plan for a sustaining franchise and constantly refer to it – strategic planning is an ongoing process for them.
  • The very best will change their approach to the business, employ new sales methods – financing, contracting, etc., to reinvent themselves.
  • This approach allows the very best to deal with market challenges, economic downturns, and other sales obstacles.
  • While others are relaxing, the very best take their downtime and consider the topics just mentioned.

Copyright © 2012 by Todd Zaugg, “Warrior Sales Monk, Heart of a Warrior, Soul of a Monk, Mind of a Professional”

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