How to turn Time into Money

March 9, 2009 by  

Part 5 of our 7 Secrets to Prospecting.  How to turn time into Money.

What is salesmanship other than the conversion of your knowledge, talents, and guts through an investment of your time.

Of all the occupations in the world SALES pays the best.  The beauty of sales is you get to avoid the entire risk the entrepreneur faces every day and you are rewarded handsomely because without sales there ain’t a business.

I love creating problems for operations people.  If you’ve been in the business any length of time you’re aware of the constant struggles between sales people and operations people.  I’ll admit here and now that I side with the sales people almost every time because for some odd reason operations people forget if the company doesn’t bring in revenue they go broke…no matter how well the ship is run.

First I’ll cover some of the biggest mistakes sales people make with time.

Mistake number one is the attitude of trading dollars for hours.  Stop and think about it for a moment.  How many people do you know who say I make $xx per hour?  How many times have you viewed your time by the hour?  And if not by the hour, by the day, or week, or month?

Many times sales people forget the amount of time it took to get the appointment.  Sales people tend to forget the amount of time it takes to get to the appointment, a cancel, drive time, presentation time, follow up time, etc.

In a previous post I spoke about ‘time-blocking’.  See it here:

Mistake number two:

Allowing people to steal your time.  When using the time blocking concept you should be able to eliminate people bothering you when you are doing a particular task.  In any office environment there are a million different time stealers.  From grabbing a cup of coffee and having your work-mates strike up a conversation to a “high maintenance” person sharing every problem.

Mistake number three:

Most sales people don’t like me discussing this one.  And, I include myself in this discussion.  How many times have you gone to your office only to fiddle fart around drinking coffee, checking email, doing personal things?

More times than we’ll admit to ourselves.

Here’s the suggestion:

Time-block your schedule and use a yellow-pad to write down your “to do” list.  Those two things alone will save you a ton of time.  If someone wants to disturb you while you are time blocked for something else tell them.  You’ll only have to tell that person once or twice and make sure you stick to your time block schedule…Don’t allow the interuption.

Now, I started this post talking about how many sales people measure their money based on time.  There’s an old joke about a plumber who charged $250 for a 5 minute visit to a house to repair plumbing.  The owner of the house was so annoyed that he requested a detailed invoice for the work done.  Much to the owner’s amazement he received an itemized bill.  The bill read, $5 for pipe and hammer, $245 for knowing where to hit pipe with hammer.

You’ve probably heard me say this a thousand times.  You are an expert.  You know way more than the families you’ll meet with.  Experts get paid well for knowledge, experience, and talent.  All of your efforts and all of your focus should be on one thing and one thing only:

Getting the sale

My simple suggestion to focus all of your time on activities that bring you closer to the sale.  I guarantee if I followed you around for one week I’d discover tons of time wasted on non-productive (non-selling stuff) activity.

Time’s one of those prescious resources we’re blessed with only so much of it.  Nothing more or nothing less.  When it comes to selling use your time focused on the sale.  Anything that contributes to the sale is a worthwhile activity.  Anything that doesn’t contribute to a sale is NOT a worthwhile activity.

Happy Selling!


P.S.  Now for a shameless plug.  Based on the many emails I receive I’ve put together a couple of products that will save you a bunch of time.  Anytime you  can prospect and present at the same time you not only save valuable time you are now taking an activity you used to do on its own and combining it with a sales activity.  My previous post has the details at the bottom of the post:

Or if you wish you can go directly to the product description page: MEMBERSHIP LEVELS



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