Why Business Acumen Is The First Thing You Need To Learn In Enterprise Sales

Saturday, December 09, 2023

Hook: Have you ever felt really discouraged after a sales call? You come in with a ton of energy and enthusiasm but the prospect doesn’t seem interested.

This is something I see all the time with sales reps in enterprise sales.

Do you know what the real problem is?

They lack business acumen.

Business acumen is kind of like being able to think how a business owner thinks. It's understanding what drives their revenue, profits, and creates efficiencies.

Most sales reps really don’t understand this and as soon as they hit a tough question they get exposed and the executives realize they aren’t a true expert.

If you gain real understanding of what drives profits for your target industry it becomes so much easier to not only negotiate but handle objections in real time because you’ll be seen as a consultant instead of a salesperson.

Context: When I started Order Solutions, which was a call center for major chains like Denny’s and TGI Fridays, I realized the huge importance of logic in enterprise-level sales.

For success, I had to understand my customers' challenges deeply and illustrate how our solutions could either boost their revenue, cut costs, or elevate their customer experience.

Engaging Interlude: Now, imagine being in a room with top-level executives and not just speaking their language, but actually guiding the conversation, showcasing unmatched expertise. Picture them nodding in agreement, hooked on every word you say because you're addressing real business needs. That's what the 6 strategies I'm about to share with you are about to do for you.

Main Content:

Step 1: Grasp Basic Business Fundamentals:

Before diving into sales, familiarize yourself with fundamental business concepts like profit margins and P&L management. This foundational knowledge is crucial for effective negotiation and persuasion with executives.

Step 2: Know the Industry You’re Selling To:

Every industry has unique challenges and drivers. Identify what moves the industry you're targeting. By understanding these intricacies, you position yourself as an industry expert.

Step 3: Understand Your Product or Service Deeply:

Familiarize yourself with what sets your offering apart, the reason your company exists, and the specific problems you solve. Grasp how your solution integrates with a client's business and know the ROI and payback period. Explore different scenarios where your product or service becomes invaluable.

Step 4: Know Your Competitors:

In B2B sales, comparisons with competitors are inevitable. Dive deep into their models, pricing, and differentiators so you can clearly articulate what makes your solution stand out.

Step 5: Know Your Case Studies:

Be ready with your company's success stories and relevant statistics, especially for businesses similar to the one you're pitching to.

Step 6: Know The Objections In Advance:

If you truly understand the industry, the problem, your competitors, and the business case, you'll naturally be able to tackle objections spontaneously, solidifying your position as a genuine expert.

Reward/Call-to-Action: By implementing these six steps, you won't just become a more proficient sales rep; you'll also be in a commanding position to negotiate with some of the world's most influential executives. For a deeper dive into these strategies, I have a free resource for you – a comprehensive cheat sheet. Simply click the link below for instant access.

Get The Art of The Enterprise Sale Book

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