Selling the wheel

{"Author":"Jeff Cox","Title":"Seling the wheel","ReadingCompleted":true,"Rating":"****"}

Summary

Easy to read book on the difference of selling and business throughout the life cycle of a new product innovation. The book is written as a story trying to sell the wheel in the times of ancient Egypt.

In Selling the wheel four phases in a product's life cycle are identified

• Birth ("The wheel revolution")
• Fast Growth ("The wheel advances")
• Incremental Growth ("Everybody wants wheels!")
• Maturity ("Billions and billions of wheels!")

These are highly similar to the phase described (a bit better in) Crossing the chasm@mbi. The point of this book and what it adds is that because the customers are different in each phase, the sales approach and skills needs to be different:

Phase	Phrase	Sales skill	Customer
Birth	The technology is new	Closer	Gateswingers
Fast Growth	The technology advances	Wizard	Progressive customers
Incremental Growth	The technology goes into widespread use	Relationship Builder	Relationship Customers
Maturity	The technology is standardized	Captain and Crew	World Customers

A Closer can be recognized by high energy, (s)he will be extrovert, charming but also manipulative. A closer is willing to do whatever it takes to close the sale, whenever, wherever. Closers will sell a dream. Usually they are engaged in one sale per customer and are looking quickly for the next big thing. A Wizard is knowledgeable and technical savvy. A confident, "Buttoned down" personality. Both a team player and a team leader. Professional demeanor and attire. Enjoys the challenge of creating unique solutions for customers. Thrives on managing complexity. A Relationship Builder is a solid citizen, fun loving, likable. Hardworking. Good marriage, civic minded. Optimistic but also pragmatic. Lifestyle is upscale but not extravagant. Team members in a Captain and Crew sales force are generally upbeat, outgoing, happy go lucky. Just average folks, similar to the customer.

Item	Closer	Wizard	Relationship Builder	Captain and Crew
Major drives	A big time need to succeed. Too much money is almost enough	Sees sales as a stepping stone to a managing position	Needs the security and sense of belonging of an organization. Prefers sales to management	Satisfied with making a decent living
Important skills	Qualifying, Presenting, Resolving objections, Closing. Be able to build a "dream" picture of the results of purchasing	Needs to have good organization and communication skills. Needs to be highly skilled in resolving objections	Resolving objections. Closing. Developing good relations. Building repeat business. Have an inner sense that the customer always comes first	All aspects of customer service. Must be able to handle 'social fatigue' so as to withstand constant contact with the public.
Presentation	Entertaining, Exciting, Sometimes even dramatic	Tend to be formal, sit down. Conference room affairs. Good audio visual aids and literature are a must!	Might take place on the golf course or in a restaurant. Emphasize a superior delivery of the familiar not the new. Show that you offer a better implementation of a standard solution	Simple and short. An explanation of the features and options. The more skilled salespeople are able to highlight aspects of importance to the typical customer
Closing	Ask for the sale immediately after the presentation. Offer a limited time for acceptance. Give "permission" to buy. Overall, inject a strong emotional push to people on the fence: either fear or desire	Suggest a starting date. Send a letter of agreement. Recommend a smaller scale pilot to test performance and results	Be there pronto when the customer needs you. Often a handshake is all that is required to seal the deal	Help the customer feel comfortable by the decision to buy. Empathize return policies. Price protection. Highlight reasons for the customer to buy. Make checkout easy.