Essential Selling Skills

ICTD International Centre for Training and Development

What are the topics?

ICTD International Centre for Training and Development

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Who should attend

Sales professionals who wish to gain control over the financial implications of the selling process and better understand the financial workings of business. As they progress through their careers in sales and sales management they will inevitably be more exposed to financial decision making. This course provides the understanding they will need.

About the course

How many sales professionals win the business but don’t know the effect on the bottom line?

This course will enable you to understand your own business better as well as gain insights to your customers’ businesses, their problems and pressures. You will be better prepared for customer meetings and be several steps ahead of your competitors in demonstrating understanding and empathy for their business pressures. You will also know how to present your offering in the most attractive way. You will leave with a number of tools to help you including a financial jargon buster, a company analysis spreadsheet and a negotiation variable “what-if spreadsheet.

## Course Objectives

You will leave the course able to:

  • Establish what your customers are trying to achieve with their business and how their ‘return on investment’ is achieved
  • Assess how your decisions and actions affect your company’s profitability –using case studies and practical exercises
  • Interpret company accounts and use financial measures selectively and knowledgeably to reveal the financial health and pressure points that a client is under before you make your sales call
  • Evaluate the impact of pricing –the factors that affect the pricing decision and when to employ different strategies in different markets
  • Present a persuasive financial case –targeting their known ‘hot issues’ and geared to achieving their objectives
  • Assess the costs and revenues which are relevant to your decision-making and those which are not
  • Before, during & after your program
  • You’ll receive support at every stage to maximize your investment and bring your learning to life:
  • Pre and de-brief calls to establish goals and assess progress
  • One to one input from your TACK consultant as group sizes are limited for maximum personal benefit
  • All TACK programs are interactive in style. We believe in ‘learning by doing’ to ensure your learning experience is 100% relevant to ‘real life’ situations
  • Comprehensive materials including workbook and Personal Action Plan
  • TACK Tips – SMS messages designed to inspire, motivate and reinforce key learning points!

## Course Outline

Understanding the financial structure of businesses:

  • Profit and return on investment
  • Fixed and working capital
  • Financial objectives
  • Understand what drives profitability
  • Know what your offering does to your customer’s Return on Investment

Different forms of business and what we need to know about them

  • Limited companies, partnerships, public and private companies, sole traders
  • What is the difference and does it matter?
  • Be aware of the risks you take when dealing with the different types of business

Basic financial statements

  • What financial information is needed to run a business?
  • What do the statements mean?
  • How to measure cash flow
  • Understand what is shown by the three main financial statements used by any business the Profit Statement, the Balance Sheet and the Cash Flow Statement
  • Know how to judge results.

Private company accounts Mars Ltd

  • What information is available to you?
  • How to interpret it usefully
  • Know what information is publicly available and how to use it

Public company information - Tesco Plc

  • The information public companies have to reveal
  • How this helps salespeople who deal with them
  • Be able to find the information you need and use it to support your sales effort

Analyzing accounts and finding the ‘hot buttons’

  • The financial ratios which reveal performance and trends in the business
  • What they mean
  • Know what drives your customer, what their issues are, and how you can help them

Strategic business planning

  • How top managers plan for the future of their businesses?
  • How to become a ‘business partner’ for them
  • Understand the process of strategic planning
  • Be able to discuss business comfortably with your customer’s senior managers

Sales forecasting

  • The forecasting process
  • Techniques of forecasting
  • Be able to create a sales forecast which deals with a range of optimistic and pessimistic assumptions

Understanding your costs

  • Fixed, variable and mixed costs and how they behave when sales volumes change
  • The importance of ‘contribution’
  • Be able to make a business decision knowing the impact on your costs
  • Know how ‘contribution’ affects profits
  • Know how to measure the ‘bottom line’ impact of your decisions

The structure of a business’ costs

  • Some businesses have high fixed costs and some low what does this mean?
  • How do I find the break-even point of the business in sales?
  • Know how falling or rising sales affect a business
  • Be more informed about extending credit

Costing case study ‘what if’ decisions

  • A number of ‘what if’ decisions are to be made
  • How do we approach them and calculate the bottom line impacts?
  • Feel confident in assessing the financial impact of your decisions

Pricing

  • The economics, accounting and marketing approaches to pricing are very different and all have something to contribute to price setting
  • Are they relevant to sales negotiation and how do we get the best out of all of them?
  • Understand the different influences on price
  • Be able to sell at higher prices with confidence
  • Be able to calculate the cost of discounts

Financial aspects of negotiation

  • Understanding financial variables
  • Cost versus value of variable
  • Negotiating the best package for your company
  • Know what to defend and what to trade
  • Be able to see the deal from the other party’s perspective and make suggestions which are acceptable to them
  • Win the sale and maintain the margin

Practical case study –putting it all together

  • A very complex negotiation is about to take place
  • Your FD has prepared a spreadsheet which takes all variables into account
  • Checking the impact of various suggestions
  • Be able to identify which variables have to be protected and which may be flexed with little impact on the bottom line.
  • Negotiate more scientifically and confidently

Videos and materials

Essential Selling Skills at ICTD International Centre for Training and Development

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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