Sales Options Exchange
As much as sales people are alike, they also differ in so many ways. One way they differ is how their outlook on sales and selling is impacted by what they sell and who they sell to. This brings me to a great conversation I had with my friend Josh who sells into the financial community and is therefore exposed to some creative thinking. Beyond sales, the other interest Josh and I have in common is a fascination with derivatives. Neither of are studied enough to get into some of the exotic instruments and strategies, but we both follow and talk options.
As we were talking about pipelines, pipeline management, which included a laugh about closing probability, and sales people’s odd love/hate relationships they have with their deals or sales in progress. It was one of those moments where a throw away statement leads to deep discussion.
The statement, made by me during my third pint, “Hey Josh, imagine if sales reps or their manager, or their companies could write or buy options on opportunities in their pipeline.” After a good laugh, we started thinking about the possibilities.
At first, we looked at it from the stand point of managing cash flow for good sales people, sort of like factoring for manufactures. You feel good about your pipeline, a specific deal, cash in your commissions now for a bit of a discount, (assuming you can find a buyer); deal comes in, they get the commission everyone is good.
Josh played out a few scenarios, mostly poking fun at the fact that if they are willing to bet on sub-prime, why not on a software sales rep’s commissions.
What’s in Your Pipeline?
Tibor Shanto – Principal - Renbor Sales Solutions Inc., is a recognized speaker, author of award winning book Shift!: Harness The Trigger Events That Turn Prospects Into Customers, and sought after trainer; his work has appeared in numerous publications and leading websites. Called a brilliant sales tactician Tibor helps organizations execute their strategy by using the EDGE Sales Process to create the perfect combination of strategy, tactics, and skills to ensure execution. Tibor can be reached at info@SellBetter.ca or + 1416 822-7781. You can read our blog, The Pipeline with new material three times a week, and follow Tibor on Twitter @Renbor.