Mark Jewell's Blog: Selling Energy, page 290

Positivity Breeds Productivity

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I’ve written in previous blog posts about how the adoption of a positive mindset has the potential to boost sales and productivity. Studies show that using negative words and complaining on a regular basis can affect not only your productivity, but also your ability to solve problems and form memories – both of which are critical to our work as efficiency sales professionals.

Negativity is a learned habit, and, like most other habits, it takes a conscious effort to reverse. The Huffington Post blog published a great article about how to reverse your tendency toward negativity. The article suggests five resolutions that will help you eliminate negativity and, as a result, improve your performance:

http://www.huffingtonpost.com/caroline-l-arnold/how-positivity-drives-productivity_b_5579171.html

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Creative Problem-Solving in the Face of Extreme Limits

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For any growing company or small team, being able to do more with less is key to success. Our team came across this TED talk by Navi Radjou on the essence of frugal innovation. According to Radjou, “Frugal innovation is the ability to create more economic and social value using fewer resources.” We hope you enjoy this little piece of inspiration today.

Click to watch the talk: 

Here’s a summary from TED:
Navi Radjou has spent years studying "jugaad," also known as frugal innovation. Pioneered by entrepreneurs in emerging markets who figured out how to get spectacular value from limited resources, the practice has now caught on globally. Peppering his talk with a wealth of examples of human ingenuity at work, Radjou also shares three principles for how we can all do more with less.

Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”

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How Often Do Prospects Base Decisions on the Environment

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If you got into this business because you wanted to save the environment, you might want to keep your agenda to yourself in certain settings. I remember reading a study published by the National Academy of Sciences in 2013. The experiment compared the reactions of various ideology buyers who were each given the opportunity to purchase a conventional lamp or a higher first-cost, premium-efficiency one. When faced with those two alternatives, one of which was three times more expensive, an equal number of moderates and conservatives purchased the higher-efficiency lamp using its savings over time to justify the additional cost.  However, when the researchers repeated the test and placed a pro-environment sticker on the same higher-first-cost lamp, sales among conservatives plummeted.

The researchers concluded that connecting energy-efficient products to environmental concerns can negatively affect the demand for these products, specifically among persons in the United States who are more politically conservative.  They added, “Although the majority of participants, regardless of ideology, selected the more expensive energy-efficient light bulb when it was unlabeled, the more moderate and conservative participants were less likely to purchase this option when an environmental label was attached to it.” 

On a related note, I remember hearing a particularly skeptical prospect declare that as soon as he heard environmentalists telling stories of “polar bears drowning because of shrinking ice caps,” he refused to believe anything else they said.  He continued by explaining that he had just returned from Sea World where he saw polar bears swimming with beach balls on their noses.  “Polar bears can swim, for goodness sake, and if they’re lying about the polar bears drowning in the Artic, they must be lying about a lot of other things!” 

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Ditch Your Big Proposal

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How often do weighty “free audits,” detailed technical studies, or long-winded proposals drive customers to embrace efficiency? How many times in your career have you either offered one of these things to a prospect, or received one yourself with horror realizing that now you have to read the thing or at least pretend you did?

Tom Sant is a nationally respected proposal consultant and author who spends his life coaching people on how to make more effective proposals. I was speaking at a national conference where he was also speaking and overheard him telling his audience, “You could probably put the words ‘Up yours!’ anywhere in a thick proposal like this and never be called out because people simply don’t read them!” 

I have to agree with him, particularly in situations where you and several other bidders are responding to a Request for Proposal. The committee (or worse yet, individual) responsible for reviewing submittals might have twenty or more of these boat anchors arrive in the mail with only a week or two to review and comment upon each and every one of them. Do you think those proposals ever get read? Skimmed, perhaps. Read from cover to cover? Not on your life.  

What would happen if one respondent took a different tack, submitting a one-page proposal (in keeping with what we teach in the Efficiency Sales Professional™ and Learning to Sell Efficiency Effectively™ courses) explaining his or her approach to the project, and then provided a separate technical appendix containing the necessary details? Whose bid response would be reviewed first? Whose bid response would be the most memorable? Whose bid would be the first to be discussed when the committee met to compare notes on all submittals?

Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”

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Remember the Hierarchy of Factors

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You may recall Seth Godin’s hierarchy of factors that cause a non-business-owner to say “yes” to a proposal made in a business-to-business setting: avoiding risk, avoiding hassle, gaining praise, gaining power, having fun, and finally, making a profit. When you approach a prospect with an efficiency project, you would be wise to keep this hierarchy in mind. Even if you believe your offering will generate all kinds of savings, if it is perceived to be a risky investment or too much of a hassle to pursue, you’ll likely not prevail.

I ran into a fellow energy professional at a networking event who shared with me that it was challenging to have people agree to a direct install of his company’s efficiency product. In fact, even though the utility was paying the entire installation cost, he was struggling to get his closing ratio above 70%. Why do you think he was having difficulty giving away a free offering? Perhaps his prospects didn’t believe his savings projections.  Perhaps the installation process seemed to be too disruptive.  Perhaps the perception of risk and hassle outweighed any potential praise, power, or profit.  And as for “fun,” that’s another whole story!

So what’s the moral? Price is not the arbiter. If it were, all but the lowest-cost products and services would be obsolete. Do yourself a favor and focus on all the issues that sway decisions. And while we’re on the topic, “saving money” is not exactly the same as “making a profit.”

Bottom line, make sure you pay attention to the five higher-ranked motivators in Seth’s list before assuming that energy savings alone will carry the day.

Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”

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Successfully Network With the 29% Solution

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As most of us know, networking is one of the best ways to grow a business. Each new connection has the potential to create countless other connections. Masterful networking requires more than just showing up to events and talking to people. There’s a real strategy to creating and maintaining a solid network.

One of my favorite books on networking strategy is called The 29% Solution: 52 Weekly Networking Success Strategies, by Ivan R. Misner and Michelle R. Donovan. In it, you’ll find one tip for each week of the year, arranged in an order that is logical and effective for turning yourself into a networking pro.

One of my favorite concepts that this book reinforces is the idea that “givers gain.” Be helpful and generous with your time, and when you eventually need something in return, the favor will be returned without hesitation.

Here’s a summary from Amazon Books:

“In many ways, success at networking is the uncommon application of common knowledge. Most people understand that networking is important to their success--they just lack a step-by-step process to get the results they want. Almost no one really implements a comprehensive methodology that will build a business through networking. Thus, the need to network is 'common knowledge,' and the development of the methodology required to be successful at it is the 'uncommon application.'

“By reading this book, you will experience the true essence and meaning of networking. The 29% Solution gives you the answers to two conflicting questions that a business owner or salesperson faces every day: How can I tend to my existing clients while at the same time network for new business? and, Should I place higher value on my current clients or on new clients?”

Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”

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Weekly Recap, December 6, 2015

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Monday: Read Talk Less, Say More: Three Habits to Influence Others and Make Things Happen by Connie Dieken to equip yourself with the skills you need to get your message across when it counts. 




Tuesday: How to find out your prospect's motives and adapt your sales approach accordingly.




Wednesday: Get ahead of the competition by reading up on these efficiency retrofitting benefits. 




Thursday: The 3 most important financial statements you should know like the back of your hand.
 

Friday: How energy efficiency in schools increase attendance.




Saturday: Read this article from Forbes for tips on how to stay productive and focused at work during the holidays. 

Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”

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Staying Productive During the Holidays

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Bring on the wrapping paper, the holiday parties and the cold weather. December is here and with all the festivities of the season, it may be easy to feel overwhelmed with personal and work obligations. For this Saturday’s productivity post, we hope to ease your stress by recommending Forbe’s list on “How to Stay Focused At Work Through The Holidays”.

Of their tips, our team’s favorites include: plan early and communicate your schedule, start working on year-end projects sooner, and take care of yourself physically.

For more tips, read the full article here: 
http://www.forbes.com/pictures/efkk45fekjm/how-to-stay-focused-and-productive-at-work-through-the-holidays/

Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”

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The Value of An Occupied Seat

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If you’re trying to sell efficiency to educational institutions, one of the most compelling cases for change comes not in the form of utility cost savings, but rather in the form of what I like to call “butts in seats.”

What is a value of a butt in a seat? Many school districts in the U.S. take the average daily attendance of the preceding school year, and they use that as one of the constants in figuring out how much money the state will give that particular school district. Improving the attendance rate by even a fraction of a percent can have a major impact on the funding a school receives. If you can make a school more comfortable with better access to fresh air, daylight, high-quality interior lighting, and so forth, you’ll likely see a positive impact on attendance, not only among students but also among teachers (which makes the budget for substitute teachers go farther).

The bottom line is that the combination of all these factors means that you have more learners in the room at any given time. Reading scores goes up. Math scores go up. People are spending more time in school. School subsidies go up because the average daily attendance numbers are higher. Win, win, win, without even having to look at the upgrades' impact on the utility bill.

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The 3 Most Important Financial Statements

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When it comes to having intelligent financial conversations with your prospects and clients, there are three important financial statements that you should know like the back of your hand. These statements give you the vital signs of the company to which you’re selling.            

The income statement: The income statement summarizes the revenues, costs, and expenses incurred during a specific period of time, usually a fiscal quarter or year. This is also known as the P&L, or profit and loss statement. The income statement is powerful because it tells you how much revenue is being brought in, how much they’re spending to generate that revenue, and ultimately, what’s left over.

The balance sheet: The balance sheet summarizes the balances of the business organization as of a specific date, and it includes the assets, the liabilities, and the ownership equity. It is also called the “statement of financial position.”

The statement of cash flows: The statement of cash flows states how changes in the various balance sheet accounts and income affect the cash and cash equivalents, and it categorizes those amounts in three classifications: operating activities, investing activities, and financing activities. It is also known as the “cash flow statement.”

Understanding these three statements will not only allow you to have more intelligent conversations with your clients, but also get you better prepared to pitch efficiency projects to your own management team.

If you’ve never heard these terms before, or if you’ve always wondered exactly what goes into an income statement or how to set up a balance sheet, etc., I would recommend checking out an online resource called AccountingCoach. You’ll find a wealth of free information about accounting and finance there, and a fee-based premium version that features a deeper dive.

Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”

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