Jim Logan


When you're conversant in these things, good things happen to you PDF Print E-mail
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Written by Jim Logan   
Thursday, 01 May 2008 15:13

The diagram to the left is a simple transistor circuit. There's nothing special about it, except one thing - no matter where you put it, it acts the same.

Whether it's in a VHF radio, radar repeater, or an advanced weapons system, it's functions the same.

If you understand how and why that simple circuit works, no matter where you come across it and no matter what surrounds it, you know how to interpret what it tells you about the gear it's supporting.

That's a powerful principle and foundation of the training I received while in the military. And it's why we spent countless hours in school studying this simple transistor circuit and numerous others. Once I thoroughly understood why and how it worked and reacted, I could theoretically work on and read schematics for any piece of equipment it was found within.

This simple theory has driven my professional career - understanding fundamentals I can apply to any situation I find myself in.

Once you understand the fundamentals and the theory and principles that drive them, you can accomplish most anything. The fundamentals are what you fall back on to reason through a situation, position a response or ask a question. All are critical success factors to excellence in marketing and sales.

In marketing and sales the fundamentals you need to master are:

  • How does your customer's business make money?
  • How does your customer's customer make money?
  • What are the rules of business your customer must follow to be successful?
  • What problems are your customers working to resolve?
  • What opportunities are your customers working to achieve?
  • What are the benefits of your product or service your customer values?
  • What are the differences of your product or service your customer values?
  • Who competes against your customer in their marketplace and how do they compete?
  • What trends are underway in your market? Why?
  • What trends are underway in your customer's market? Why?
  • What regulatory concerns does your customer have?
  • What policies or procedures must your customer follow?
  • What are the limitations of your product or service?
  • How does your competition compete against you?
  • What are the fundamental principles your product or service are built upon?



When you're conversant in the things above, good things happen to you:

  • You no longer have sales meetings with your customers, you have business meetings
  • Price falls in the hierarchy of your customer's purchase decision
  • Access to executives increases, both within your customer's company and your own
  • You realize your product and service doesn't really matter. It's the things you can do for your customer that count most
  • You stop blaming the product for not being able to make the sale
  • You speak in front of a group with ease
  • You don't fear the trick question...it no longer exists
  • You realize the speeds-feeds-features-and-functionalities of your product are no longer as important or interesting
  • People come to you for advice - coworkers and customers alike
  • You're more valuable to your customers and your company
  • Promotions and pay raises are easier to get
  • Sales are easier to close

 

Food for thought.

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The 80/20 Rule
written by Chris Gbekorbu, May 01, 2008
Hey Jim,

It's like the 80/20 rule (of course these numbers are only for illustration). 80% of what you do comes from 20% of your knowledge. In this case, you understand the fundamentals (i.e., the 20%), and you'll be pretty good at doing something most of the time. Now I'm not saying that with only 20% of the knowledge that you'll perform as well as an expert (there's a reason they're experts). But at least you can do a respectable job and recognize quality when your 20% can't solve your problem and you need to call in an expert.

Chris
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So...what you're saying is: My three years of high school electronics meant something?
written by Natasha Vincent, May 01, 2008
Always nice to see a concrete concept grounded to an abstract one (and vice versa). The "ka-ching" moment for me is your question about how my your customer's customer makes money. Golden opportunities lie right there.
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Your customer's customer
written by Jim, May 02, 2008
An quick example of the power of understanding your customer's customer:

Years ago I worked for a company that manufactured telecom equipment - voice and data transport and switching. Our target customers were international carriers. Their business was providing transport and termination for upper tier carriers.

A key topic of discussion when speaking with our target prospect was how our solution could maximize the revenue potential for their customer. The more profitable their customer, the more traffic they'd send our customer...and the more money our customer would make. We positioned our solution as a valued benefit to our customer's customer, helping them sell their services to their customers.

Could our competition have done this? Yes. But they didn't . We did...and we won business as a result.
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