Yesterday, I wrote an article about running sessions at work on content creation, which is part of a much larger continuous wave I am delivering, with the goal of improving sales processes and results. What has been interesting is that through various discussions, it is apparent that whilst some people see the benefit, others do not, with the general division being length of tenure. The longer a person has been in their position, the more likely they are to want to improve their prospecting processes and ability to engage their potential prospects.
They are lapping it up.
However, those that I would suspect aren't necessarily going to stick around for long, aren't as keen to spend their time investing into building themselves up as thought leaders, because pipeline doesn't matter to them. They seem more unwilling to do the legwork and instead will play a numbers game, trying to land as many case as they can to get the short payout, not realizing that that the real money comes in the expand phase of a sale.
It is about investment.
I get it though, as for those who like to change jobs often for a higher salary, aren't going to want to invest their time and energy into building the pipeline they won't keep. But, if they did build that pipeline well, they would likely have a far better result overall, because they will be compounding their work and therefore their commissions for years to come, earning more than they would from a salary increase alone. Plus, if they were to stick around longer, they would also be far better at converting and winning deals, as well as seeing the expansion opportunities, so it will compound further.
You can lead a horse to water, but can't force them to invest.
My counterpart in the US who has the same goals as me, is taking a different tack, because he "knows" that the people he is supporting won't do this work at all. There definitely seems to be a difference in the willingness to invest into the future between Europe and the US. When I explained to him how the commitment compounds as accounts of leaving salespeople will be transferred to a new or one who stays, he said, "the rich get richer".
Yes.
But in this case, it is because some choose to invest and in so doing, not only build up their individual book of business, but also their trust within the company and social capital - further compounding their opportunity.
What is interesting is that those on this side of the water tend to recognize the opportunity to build their footprint through their career into the company, often taking the chance to invest into it when they can too. The value seems to be more about a slow burn into a higher level of security, rather than looking for a big payout constantly. This mean that even though they have short goals and incentives to chase, they focus their attention on the longer view, missing some short returns, in favor of long gains.
I actually find the difference quite fascinating and wonder how impactful this is on things like the wealth gap, where it seems in the US, people are looking to get a big score to move up the ranks, chopping and changing regularly in pursuit of the opportunity. However, while the big score might be possible, it is more of a "aim small, miss small" position, where they are unlikely to actually accomplish what they are after. In the Nordics at least, it is more that people will play the odds of success most of the time, throwing Hail Mary's less often. When they score big, they are happy, but they are continuously building their portfolio, so if they fail, they don't miss completely.
From an investment perspective, I think a lot of us dream about that large win that solves all our financial problems and provides us with everything we need, but that is highly unlikely, even in crypto. However, if we are consistently developing our holdings, adding little bits here and there, working through the lows and difficult times, it all starts to compound and when times are good, it makes an enormous difference.
Remaining active and investing into the lows, is very much like building pipeline and the future value of the work put in is far higher than doing a similar amount of work at the highs. When those good times roll in, there is more opportunity to take advantage.
For example for a seller, it can be difficult right now because companies are far warier than they were, due to the economic conditions. For those who have built pipeline and a foundation in the past, they can still make some money as projects are long and there could be expansion of existing implementations. However, when the good times start again and the companies open their budgets to expand, the seller is already positioned to begin, having built and maintained the relationships, now trusted to move forward with new projects and, often benefiting from getting recommended to new customers through the network too.
A lot of the "rules of engagement" apply across domains, as do those of investing and this generally means investing time and effort to develop the conditions of success. In the early days, the work required is high and the gains are small, but as compounding effects take hold and then, the factors of improving conditions are applied, significant gains can be realized and, the work required for maintenance and even growth is much lower. Not only this, when the lows inevitably return again, they are easier to negotiate and, able to be taken advantage of instead of suffered.
Experience plays a huge role in our outcomes, but we aren't necessarily hardcoded to build the experience necessary, especially when it comes to investing ourselves into an uncertain future. We are definitely "bird in the hand" by nature, but so much of our financial wellbeing requires considering the two in the bush instead. It means that economic success is not intuitive and what we need to do, often runs counter to what we want to do.
A lot is possible to accomplish over time, if only we perform the right actions consistently along the way. If we are aren't committing to building our foundation and constantly chasing the big score instead, odds are, we will miss it all.
Taraz
[ Gen1: Hive ]
Posted Using LeoFinance Alpha
I remember this dialogue from Mel Gibson while teaching his son about how to aim and shoot with a gun in the movie The Patriot that Aim small miss small. I think people like chasing big scores rather than doing things that they actually can. Very good analogy this.
Exactly. That is the scene! Lots of lessons to be had from one liners, if thinking a little bit about what they actually mean.
They used to make some great movies with great dialogues and even better tv shows. But sadly as of now, I cannot recall good writing in a tv show or in a movie. Just saw Fast X and John Wick 4 and was not impressed by both. Talented actors like Mel Gibson now act in B movies and these are still better than the current crop so you can imagine how the quality has fallen.
Hard to fathom how and why people think like they do but it sound like as always it is a short cut to the top in their minds. I was always amazed at employers willing to gamble on new employees who have had multiple jobs over a short period of time as I would frown upon this. I didn't know the sales people received accounts left by others and is actually a decent bonus if you stick around long enough. The way the economy is right now who would even contemplate starting a new job as it is utter madness.
It is a hard market to get good people with experience out there - cheap at least.
They have to be moved on to others, as they need service and support over time too and they often grow and need more licenses or implementations in new regions. It can be massive for a sales person.
I believe that remanining active in low time on HIVE is much more important than any time, thus we are here ;)
I agree. And the accounts that are able to stick it through, are generally the ones who will stick it through forever :)
'building pipeline' these words are so useful for cryptos .no matter how deep market is ,always should invest little and forget it .
Oneday you find option to choose yours right decision.
the "forget it" is important, at least for what is held. Remembering to constantly invest is the hard part :)
Consistency is the key, preparation is the foundation and sowing in good soil for harvest is the goal -literally-. The future is not written in indelible ink, we have to be prepared for sudden changes, those stones that are always in the way.
Life isn't lived in a vacuum, it is constantly shifting and e3very move we make, shifts it more. Building that foundation doesn't bring certainty, but can improve stability - planting nothing has a pretty obvious harvest.
This is a fantastic article! I totally agree with the importance of investing in building a solid pipeline for long-term success in sales. It's fascinating how some people are all about chasing quick wins, while others understand the value of trust and relationships. I believe finding the right balance between short-term goals and a long-term vision is key. When the market conditions improve, those who've put in the effort to nurture connections will have a great advantage. Keep up the awesome work and keep sharing your insights!
I see all this point here as a great tip in excelling in different business. They are like bitter truth that could change lifes forever.Great post @tarazkp.
I've experienced it myself. When everyone "scattered" when there was COVID-19 a few years ago, I remained in my position with reduced income due to decreased sales. Many of us went out looking for something bigger out there.
I stayed, even though I really wanted to get out too. But some of the higher-ups there wanted me to stay because I had to stay, at the suggestion of some of their customers.
What I do is just maintain relationships with customers; I don't sell to anyone who needs something during COVID, except for that trash mouth mask. I only maintain communication with some customers, even just asking how they are and having some chats to strengthen them in dealing with this artificial epidemic.
But what happened after COVID was over was that they came looking for me, and even new customers came because of recommendations from old customers that I kept in touch with.
You're absolutely right that pipelines can go anywhere and always connect to all areas, even when there's nothing in them. But in time, when the pipes are flowing with something, it will easily get to wherever you want.
That's what America was built on the right? One great big hail Mary! It's in our blood, we don't know any other way. I'm joking of course, but I actually see the opposite in my line of work. People who are so entrenched in their thinking that they can't comprehend doing things any other way. Even though the the "client" is clearly different from how they were 20 years ago.
Only few peoples have ideas and thoughts for the future plans.
I think things are different from country to country. In the US, I have heard a lot of talks about moving around in jobs to get a better wage. It just happens because that is what people are used to and most places don't really increase your wage either. I guess it's a difference in mindset. The new employees though might not be worth it because they might not be able to do the task as well as the previous one.
Crypto has made it seem like you are so close to the big win as you mention, but the truth is that it is incredibly unlikely if you are just playing the lottery on projects. If there are projects that you believe in long term and not just invest your money in, but time and energy to build and grow, that will be the best way forward. It's not a guarantee because not every project will make it, and many die in bear markets, but you will get a lot more out of it rather than just throwing you money at something and hoping it goes up AND you have the conviction to sell.
These employers are the ones playing hard to get. I'd love to be a long-term full-time employee, but all they're offering is independent contractor work that can be pulled at a moment's whim. Show me a safe, secure salaried position and I'd be a lot more keen to stick around and build the portfolio!