TargetA new line of business is usually a major investment of time and money – time in training, certification, and business process engineering as your company prepares to implement and support customers and a new product or service.

While sales training is also a part of this investment, there’s a significant component of a new business line that is often overlooked or “under”-looked: the ability to easily and naturally quote the new products and services.

To be blunt, I’ve seen many new lines of business fail before they get started simply because the sales team can’t propose it to their customers.

It’s natural enough to try to quote a new business line using your existing spreadsheets or word templates, and such is often the case. This results in a manual, half-baked, ill-understood proposal process that is first and foremost difficult – and that spells disaster for your new business line.

Do yourself and your business a big favor: Don’t just do a good job of setting up your proposals for that new business line: HIT IT OUT OF THE PARK. Go overboard. Make absolutely sure that your sales team can quote those new products and services while falling out of bed.

A few of the things that you should attend to:

Continue reading »


 

Five Major Sales Leaks That Could Be Affecting Your Company

My wife Anne gets after me because I’m not always careful enough with my spare change and bills, and they often fall out of my pocket. This often occurs in her car, and many a shopping excursion has been thus funded. She says I “leak money” (and does her best to restrict my access to the same).

Some of our customers leak sales rather than money, and this was brought home to me when I recently had a conversation with a good customer who had started using our Quosal Order Porter Mobile for the iPad application. He said he was doing three times as many quotes as he previously had been. Naturally, I think that’s great – but I realized, as he did, that he’d been missing out on two thirds of his sales opportunities before – he was leaking sales by writing them down on yellow sticky notes, or business cards, or just trying to commit to memory a customer’s request for a new product, or his own on-site observations of a customer’s needs. Now, he takes out his iPad and delivers the quote on-the-spot.

There are many ways to leak sales, and all of us do, sometimes on a daily basis. It’s a very costly habit. Here are a few ways that I see sales dribbling away for businesses of all types, but particularly our information technology audience. Continue reading »


 

I’ve blogged in the past about the concept of “Sales as a Service” – in fact, one of the most important services that you provide to your new and existing customers. The concept applies to the overall sales process of course, but the quote and proposal aspect of the sales process is my focus.

Clearly, a properly, fully, and accurately configured solution is one of the most important services that the sales team can provide to the customer. In fact, it may be the most important service we ever provide – because a properly configured solution provides a smooth ride for the customer throughout the life of our relationship with them. A poorly configured, inaccurate solution will drive the need for far more services under less-than-optimal circumstances.

For those of us that provide services to our customers either as our primary business or in support of solutions we sell, it’s easy to draw the comparison between the “service of selling” to any other services we provide on a daily basis – and the customer’s reaction to those services is nearly the same. Continue reading »


 

Quosal was formed on a foundation of beliefs that I had about the way business quotes are put together – a way that is sometimes not only not conducive to landing the deal, but can sometimes be counter to that purpose.

I believed then, and still believe today, that business quoting practices rarely put our best foot forward on a really basic professional level. Quotes and proposals are often shabbily prepared, not delivered on time, contain inaccuracies, are difficult to understand for the customer – you get the picture.

When we actively opened our offices and started Quosal rolling, I decided to use our own business startup as something of a research project. I set forth a few basic rules about our own procurement of anything bigger than a pen: that we would seek out at least 3 quotes for what we were purchasing, and that we’d track several “quote-based” metrics on each quote we were provided, such as:

  • Was the quote provided on time (we sought a time commitment from each vendor)
  • What was the format of the quote – hand-written? Verbal? Paper? PDF?
  • Did the quote contain inaccuracies? Math errors? Grammatical errors?
  • Did the quote accurately reflect what we’d asked for? Did it fill the need?

…and so on. Continue reading »


 

Throughout my career in sales, I’ve always felt a significant sense of accomplishment when completing and delivering a high-quality quote or proposal to a customer. This feeling continues through to this day, and is greatly augmented by our own product at Quosal.

The other side of this coin is the pressure I would feel as a salesperson when I had a backlog of proposals to complete. I know that many business people and their sales team labor under this pressure today. Indeed, I feel this even more intensely now, in those rare times when, despite our own tools, technology, business practices and policies, I don’t get my quotes and proposals turned around immediately. I feel this pressure more acutely because my own experience, research and expertise in the field of quote and proposal automation tell me that the sooner you get that accurate, attractive quote in your prospective customer’s hands, the more likely you are to win the business.

There’s a great reason for sales professionals and the entrepreneur salesman to feel a major sense of accomplishment when completing and delivering a quote: Quotes and proposals are indeed the major deliverable of the sales team. I can hear you out there saying, “No, CLOSED quotes are the major deliverable,” and of course that follows. However, you can’t close (win) a quote that has never been created, and you WON’T close an inaccurate, half-baked, ugly quote most of the time. Continue reading »


 

Do you feel that you have a good understanding of the value of your quote and proposal processes to your company? Is it something you’ve really thought about?

I’m going to challenge those who might answer “yes.” The first challenge: You probably haven’t thought about it that much. The second challenge: You’ve probably dramatically underestimated that value.

The value of these processes is direct, daily and in some cases, virtually inestimable, as they enable and unblock the growth of an organization. They relate directly to the image of your organization — the customer perception of professionalism and quality. The accuracy of quotes and proposals leads to good, win/win business. Overall organizational productivity can be dramatically and positively improved.

All of this can be worth tens or hundreds of thousands to a company, yet some are unwilling to invest as little as the price of a laptop and a few hours of time, while others may purchase the lowest-priced solution to save a few hundred dollars.

What is the right investment?

There are three investments you should consider when improving the infrastructure of your organization in the area of quote and proposal automation.

1. The investment in your quoting platform and tools.
2. The investment of *your time* in full and proper implementation of that platform.
3. The investment in professional services that gets you all the way there, cost effectively. Being cost-effective also means an appropriate and effective use of your own time.

We work with many companies that really need (and would greatly benefit from) investment in all three areas, but invest in only one, or perhaps two. This will not lead to maximum ROI, and may not even lead to basic success.

Under-investment in your quote and proposal automation can negatively impact your business for years to come, since most of us tend to live with mistakes far longer than we should.


 

One aspect of our business here at Quosal that has been very gratifying is the high adoption rate of our solution. In this case “adoption rate” refers to the percentage of customers who implement, use, and receive the benefit of Quosal soon after they purchase it.

Having been in the enterprise software solution business for some time, I’ve certainly seen the opposite — companies that make a significant investment in software (and other infrastructure) that don’t actually implement the solution or are “turned back from the gates” of implementation. In some cases, writing the check for the software/services was the first, last and only action item taken toward implementation! In other cases, a sincere effort is made, but the company loses steam and the initiative falters.

The desire for change of business process is almost always sincere and founded in real need. How can a business “punch through the target” to ensure that ROI is received from such an investment?

Change is an act of management will. In a small business, management and ownership are generally synonymous. The mandate for change must always start at the top, just as the authorization for the investment usually does. Without this mandate and the driving desire for business process change, it often does not happen – especially if multiple departments are affected by the change.
Beyond this, there are practical “drivers” that will help ensure that change will occur in a beneficial, building manner.

Big Wins: The carrot of a significant win in the process can help pull change-averse staff and organizations through an implementation. Such wins come in many forms. I’ve seen what looks like surprisingly small “wins” from the outside drive huge changes.

Ease Their Pain: A corollary of the Big Win — reducing a pain point can help drive change.

Desire to Be the Best: Many organizations are motivated by the simple desire for improvement – taking another step toward excellence.

We Don’t Fail: The corollary to the above, a successful implementation is the obvious alternative to a failed implementation, which is an undesired black eye for many.

Many executives and owners feel that the simple mandate of “it’s your job” will win the day, but looking a little further into the heart of successful change management can smooth the road, and speed the path to ROI.

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