Nyba.retail and small business conference.march 15 2013.v1

MZ BIERLY CONSULTING

Building Momentumwith Small Businesses

Strategies for Acquiring and Retaining Business Clients

Ned Miller MZ BIERLY CONSULTING, INC.610-296-4772nmiller@mzbierlyconsulting.comwww.mzbierlyconsulting.com

mailto:[email protected]

http://www.mzbierlyconsulting.com/


Notice

This publication is protected by copyright. It is licensed for a single user. It is licensed for internal use only.

Copyright © 2008 – 2013 MZ BIERLY CONSULTING, INC.ALL RIGHTS RESERVED

2

MZ BIERLY CONSULTING3

It’s a changing environment – and it’s the right time to focus on the Small Business Market.

Recent Research on what Small Business Owners want from their Small Business Bankers.

4 Key Initiatives for Banks Interested in building sustainable results in the Small Business Market.

Resources/tools to help.

Q&A (as time permits).

Our Discussion Today


The “trust issue” that was part of the recession has many small business owners “looking around” for a “relationship” they can trust.

Business owners are pessimistic about future operating environment.

Everybody is trying to get in the small business lending game.

Approval rates are inching up.

Larger banks are hiring small business bankers; banks of all sizes are pushing branch managers out of the branch trying to get more feet on the street.

The Big Picture


Primary Bank Satisfaction Declined at Medium Banks

© 2013 All Rights Reserved.

74%

69%71%

73% 73%75%

72% 73%

58%

61%

65% 64%67%

65%67%

64%

50%48%

49% 51% 50% 49%

44%46%

40%

45%

50%

55%

60%

65%

70%

75%

80%

2005 2006 2007 2008 2009 2010 20112012

Note: Bank trending data is representative of bank organization in 4Q2012.

% V

ery

Sat

isfi

ed

Small Banks (Assets <$1B)

Medium Banks (Assets $1B-$50B)

Large Banks (Assets >$50B)

Medium banks had a decline in delight from the prior year and are now at 64%.

Small Business Trailing 4 Quarter Data

$100K-<$10MM

Q: Overall, how satisfied are you with your company’s primary bank?


Prospecting Model: The Satisfaction Curve

All Relationships go through periods of Satisfaction and Dissatisfaction.


Prospecting Model: The Satisfaction Curve

“RQS” Shoppers make changes in banking relationships at the bottom of the curve.

RQS = Relationship, Quality or Service Shoppers


Large Banks Score 11% or More Below Medium Banks

40%41%

29%

22%29% 24%

0%

10%

20%

30%

40%

% A

gre

e S

tro

ng

ly

The gap between large and small banks is widest on the attitudes: will stand by us in tough times, effectively meets our credit needs and has competitively priced service charges.

$100K-<$10MM

90% Q: Please indicate how strongly you agree or disagree with each statement. My primary

bank…79%74%

65%

76% 73%78%

62%57%

62%

52%

70%66% 64% 65%

44% 44%50%53% 51%

47%54%

50%

60%

70%

80%


Medium Banks (Assets $1B-$50B)Large Banks (Assets >$50B)

+4%

+5%

+3%

1Q2012-4Q2012Small Business Rolling 4 Quarter Data

= arrows denote change since previous year

-6%

+6%+5%

+5%

+5%

+9%

-5%

Is responsive Is easy to do Appreciates Gets things Is financially Effectively Will stand by Has Hasto requests or business with our business right the first stable meets credit us in tough competitively competitive

questions time needs times priced service charges

rates and fees on loans


Market Research


Who is your toughest competition today in the small business market? Why?

Quick Question


Big Banks?

“We are competing on price. It’s a function of the market. If there is a client we want, we will be competitive on price.”

Ergetu Merete, Business BankingDivision Manager for Philadelphia Area

Business Journal, September 2012


Independent Banks?


• Teaneck, N.J.'s Cross River Bank, which holds $199 million in assets, is responding to pressure to gain business customers by going door-to-door, pitching 0 percent loans to dry cleaners, spas, and medical offices in the city. Cross River Bank Chairman and interim CEO Gilles Gade says the program, which has about $1 million to lend initially, is primarily meant to shore up goodwill in the community and net more long-term business customers. The bank has so far written about 20 one-year loans for amounts ranging from $5,000 to $20,000, Gade says.

From "N.J. Bank Hits the Streets With Door-to-Door Lending Campaign" American Banker (08/09/12)

Idiot or Genius?


Each banker has a Default Value Proposition

1. Low-Price/Low-Structure Provider

“Tell me what you have at your current bank . . . we’ll beat it.”

2. Service

“We’ll be accessible and responsive. You’ll think you’re my only client.”

3. Business Acumen (Business Experience and Expertise)

“I’ll understand your business, help you anticipate your needs, and help you navigate through increasingly complex financial choices. . . better than any other banker.”

Values and Value Propositions


This study correlates skills with “Customer Satisfaction” and with the likelihood a Business Owner

would refer you to other Business Owners.

Data from the Enterprise Council on Small Business

Business Owners and Business Acumen


The Key Skills from the Study.




The Questions that drive results and satisfaction.




The Key Questions that

drive satisfaction.




Data Courtesy of the Enterprise Council on Small Business

Relationship Development

Strategies that drive satisfaction.



Level of Relationship is Based on Value Drivers

20

Not all Decision Makers want the same level of relationship with an RM. Adding Value is based on matching the value driver of a Decision Maker.

Value Drivers. . . What the Decision Maker is looking for

5

1

2

3

4


What Does it Take: Building Relationship Management Skills

21

Reacting to Opportunities Developing New OpportunitiesStage 1 Stage 2 Stage 3 Stage 4

Stance: Waiting for opportunities

Stance: Proactively seeking opportunities

part of the time

Stance: Seeking qualified opportunities

regularly

Stance: Actively building market share, wallet

share and developing opportunities

Methods: Walk-ins Irregular lead generation Referrals from a few long-time

clients or “well-worn” referral sources

Lead generation is largely reactive Product-focused client discussions

Methods: Some referrals from clients Generating leads from any and

all businesses Identifying and building new

referral sources Focuses at Controller or VP

Finance Level Focuses on “financial issues” Sees role as sole “executor” of

relationship

Methods: Focused and proactive lead

generation Effective use of testimonial

referral sources Focuses at “C-Suite” level, builds

strategic relationships Sees role as “strategist” Effectively uses Bank’s Senior

Management to build relationships

Methods: Actively cultivating referral network

and systematically using it Actively working the best clients and

prospects Always seeking new “niche”

opportunities Consistently uses Experience and

Expertise as a Value Proposition Highly effective at adjusting lead

sources and a building brand

Characteristics: Infrequent calling Little planning or structure to

relationship management process Works “whatever is in front of me” Focuses on credit/product strategy

first then “sales” strategy Value proposition centers around

price/structure or “client service”

Characteristics: Meets target level of calls, but

little focus or preparation “I’ll take whatever I can get”

orientation Selling 1 product category at a

time, leads with loans Identification of opportunities

often limited to 1-year time frame Inconsistent results and

“cycling” pipeline

Characteristics: Stays focused on targeted lists Persistent, never gives up Comfortable at all levels of the

C-Suite A focus on depth of relationship Consistently identifies

opportunities (short-term, mid-term, long-term, explicit and implied)

Consistently generates results

Characteristics: Always aware of new opportunities Always thinking one year ahead An articulated plan for consistently

developing new opportunities Long-term, expertise-based

relationships

Characterized by Product Acumen and Strategizing Transactions


What Does it Take: BuildingRelationship Management Skills

22


Stance: Waiting for opportunities


part of the time


regularly

Stance: Actively building market share, wallet

share and developing opportunities


clients or “well-worn” referral sources

Lead generation is largely reactive Product-focused client discussions

Methods: Some referrals from clients Generating leads from any and


referral sources Focuses at Controller or VP

Finance Level Focuses on “financial issues” Sees role as sole “executor” of

relationship

Methods: Focused and proactive lead

generation Effective use of testimonial

referral sources Focuses at “C-Suite” level, builds

strategic relationships Sees role as “strategist” Effectively uses Bank’s Senior

Management to build relationships

Methods: Actively cultivating referral network

and systematically using it Actively working the best clients and

prospects Always seeking new “niche”

opportunities Consistently uses Experience and

Expertise as a Value Proposition Highly effective at adjusting lead

sources and a building brand

Characteristics: Infrequent calling Little planning or structure to

relationship management process Works “whatever is in front of me” Focuses on credit/product strategy

first then “sales” strategy Value proposition centers around

price/structure or “client service”




time, leads with loans Identification of opportunities

often limited to 1-year time frame Inconsistent results and


Characteristics: Stays focused on targeted lists Persistent, never gives up Comfortable at all levels of the

C-Suite A focus on depth of relationship Consistently identifies

opportunities (short-term, mid-term, long-term, explicit and implied)

Consistently generates results

Characteristics: Always aware of new opportunities Always thinking one year ahead An articulated plan for consistently

developing new opportunities Long-term, expertise-based

relationships

Characterized by Business Acumen and Strategizing Relationships


What percentage of your Small Business Lenders are in each stage?

What percentage of your Branch Managers are in each stage?

Do your Sales Managers have the coaching skills, tools and techniques to get their teams to the next level?

Quick Reality Check


Managing Market and Relationship Strategies


Managing Market and Relationship Strategies

Three Sources of Business. . .

Three Steps:Identify, Plan, Execute

Market Management Process

Relationship Building Process

Face-to-Face Meeting Process


Are You Taking Care of Your Customers?


Adding Value Adds Revenue and Adds Loyalty

Company Decision Makers

DDA/Treasury Management Personal DDA/Private Banking

Working Capital, Acquisition Financing Investments

Equipment Loans/Leases Jumbo Mortgage

Commercial Mortgage HELOC

Employee Banking Life Insurance

Investments Retirement Planning/Retirement Plan

401(k) Estate Planning

Liability Insurance

Key Man Insurance, Buy/Sell Agreement

Total: 9 Total: 7

Business Services: 20-years, $3,500,000 in sales

MZ BIERLY CONSULTING281Q2011-4Q2011

Total

Primary Bank Size


Medium Banks (Assets $1B-

$50B)


Product Usage at Any Institution

Total Products Used 7.2 7.2 6.9 7.3

Cash Management and Deposit Services 4.8 4.7 4.6 4.8

Credit Services 1.2 1.0 1.3 1.6

Other Services 1.2 1.4 1.1 0.9

Penetration Ratio

Total Products Used 79% 77% 76% 84%

Cash Management and Deposit Services 83% 83% 81% 90%

Credit Services 76% 70% 69% 80%

Other Services 64% 67% 57% 60%

Small Business Rolling 4 Quarter Data

Q: Please indicate which of the following products and services your company currently uses at your primary bank and which are used at another bank.

7-3

$100K-<$10MM

Primary Bank has over 75% of Products Used


The Market Management Model: It Starts with Leads

Lead Generation

Qualifying

ProposalInternal SaleExternal Sale

Closed Transaction

Build Long-Term

Relationship

Closed Business Out

Opportunities In


The Market Management Model

Lead Generation

Qualifying

ProposalInternal SaleExternal Sale

Closed Transaction

Build Long-Term

Relationship

Comes out the bottom.

What went in the top…

To change the quantity or quality of what comes out the bottom. . . Change what goes in the top.


1. A Relationship Development Meeting is a face-to-face meeting that focuses on two things:

Identifying and developing the Business Owner’s tangible needs and intangible needs.

Matching your solutions to the developed and agreed-upon needs.

2. A Marketing Call (or Marketing Touch) is an interaction that keeps the bank or banker “top-of-mind” with the client/prospect.

An “overview” of Business Owner’s possible needs.

An overview of “what we do”.

“If we can help. . . Let me know.”

Relationship Development Meetings vs. Marketing Calls


What percentage of your team’s calls are Marketing Calls?

What do you have to do to increase the percentage of Relationship Development Calls?

Reality Check


Demonstrating Business Acumen doesn’t happen in 1 or even 2 Meetings.

Building these Relationships require a series of Relationship Management Meetings that build momentum. . . and loyalty.

And, requires the interpersonal and communication skills to “connect the dots” during the business conversation. . . the connected dots that build clearly defined next steps in advancing relationship.

Changing the Conversation to “Business Acumen”

33

Each Relationship Management Meeting is a Structured

Communication Process



34

Step 2 is the most important step for aligning with the Key Decision Maker’s Business Strategy, Business Plan, Business

Objectives, Business Operations and Business Management

Processes.

2



35

1. Where are you banking?2. What products are you using?3. How are they priced and structured?4. What 2 things do you wish your bank

was doing but they’re not?5. Can I have a copy of your

statements to put together an offer of how we would handle your relationship?

Where are the Business Issues here? These questions focus on products;

comparing your products with a competitor’s. These questions demonstrate

product acumen!!

Look at these Questions. . .

2



36

These questions align with a Key Decision Maker’s Business Plan, Business Strategy, Business

Objectives, Business Operations and Business Management Processes. These questions

demonstrate Business Acumen!!

Use this Question Set to Demonstrate Business Acumen and Build Relationship

Momentum

2


1. Keys to success affect current and future decisions.

3. Industry trends, business changes in next 3 years.

2. Industry trends affecting the business today.

4. Current and future changes force changes in current and future business operations.

5. Current and future changes in business operations force changes in current and future financial operations.

6. Changing financial operations create changes in the financial needs and then an evaluation of the solutions currently in place.

“Think Like the Business Owner”

37


BUILD A TARGET PROFILEKey Initiative #1


High Appeal Industries Limited Appeal Industries

Manufacturers Real Estate Investment

Wholesalers Low-End Retail

Distributors Restaurants

Architect, Engineering and Business Service Firms Mini-Warehouses/Carwashes

Law Practices Landscaping

Accounting Firms Service or Gas Stations

Insurance Brokers or Firms Used Car Dealerships

Large General Contractors

Medical, Dental and Health Practices

Define Your Core Relationship Profile


Business Characteristics

In business over 3 years

Sales revenue between $500,000 and $2,500,000

Employing more than 5 people

Location within footprint

Privately held with experienced management team

Borrowing needs under $500,000

Profitable (Net Profit After Tax) for the last year

Leverage (Debt-to-Worth) less than 3 to 1

Deposit balances average more than $25,000

Using or needing 5 or more business banking/consumer banking product categories

Define Your Core Relationship Profile


Retention Relationships are clients who meet these criteria: Have good credit quality,

and are In top 10% of aggregate loans and deposit balances, Your Bank has >60% of the loans and deposits of the business.

Expansion Relationships are clients who meet these criteria: Have good credit quality and match the Core Relationship Profile,

and are Your Bank has less than <60% of the loans and deposits of the business,

and have Significant cross-sell/up-sell opportunities in next 18 months.

Segment Your Business Customer Relationships


Define the annual activity for Retention, Expansion and Prospect Relationships.

Target 5 calls per week [60% of the calls to be proactive].

Target the right mix of pre-scheduled appointments:

• % with Retention, Expansion and Acquisition Relationships

• % of joint calls

• % of calls with referral sources or others in network

Be Clear About Call Activity/Call Mix


STRENGTHENEXPANSION RELATIONSHIPS

Key Initiative #2


Relationship Expansion Process Initiatives

These are the 7 Elements in that drive a Relationship Expansion Process. These are the process elements that drive Banker Success in the building a Brand. . . and is the result of consistent execution.


Expansion Relationships Determine possible opportunities.

Use a Relationship Profiling Model to Identify and Follow-up on opportunities to strengthen Expansion Relationships.


Build a Client Folder with:

• Industry Trends and Data (VerticaIQ/First Research/eMentor/IBISWorld)

• Trade association data on the industry

• The company’s web site

• News articles on the Business and Business Owner

• Bank-specific information about the industry (e.g. Sample call plan templates, case studies, product brochures, etc.)

Identify the Opportunities for Expansion


ACQUIRENEW RELATIONSHIPS

Key Initiative #3


Overemphasizing prospecting. . . “Don’t forget your Key and High Potential Clients.”

Not providing direction on which prospects to target. . . “Build a list of the prospects you want to do business with.”

Not coaching bankers on how to leverage their network (and that includes senior management, directors, etc.). . . “Use client referrals and testimonials to get appointments.”

Not having a process for generating leads. . . “Coach the top of the funnel.”

The Super-Rep Syndrome. . . “Teach them all to fish.”

Not understanding your bankers’ default value propositions . . . “Coach to the value proposition that you believe in.”

Defining success too narrowly. . . “Celebrate the small victories.”

7 Mistakes Sales Leaders Make


Not having a “Vetted” Prospect List. . . “Build a list of the Businesses you want to do business with.”

Not using their network. . . “Using client referrals and testimonials to get appointments.”

Not having a defined strategy. . . “Building relationships based on Value Added.”

Planning one meeting at a time. . . “Always plan 2 calls at a time, gin up the interest in the next meeting before you leave their office.”

Not preparing “cognitively”. . . “Being prepared is a huge differentiator and adds value.”

Using the wrong question set. . . “Use questions that add value.”

Selling to the first need. . . “It takes multiple needs to build enough momentum to overcome inertia.”

7 Mistakes Bankers Make in Prospecting


6 Steps for Building New Relationships

1. Build a Vetted Prospect List

2. Select the first 5 Prospects you want to focus on

3. Build a Relationship Strategy, Plan the first 3 Meetings for the selected Prospects

4. Use a Testimonial Referral to Get the 1st Appointment

5. Debrief the 1st Meeting, adjust the Plan for the 2nd and 3rd Meeting. Keep a focus on what is changing (not “optimized”)

6. Deliver 1 or more “Optimized Solutions” in the 3rd Meeting


“It's Marketing's job to provide us leads.”

“Get me a better list.”

• A list of businesses that want to change banks now!

• “The list isn’t perfect. . . there are dead people on here!”

Focus on former customers from “my old bank”.

Each Banker builds his own prospect list.

• Not sharing it with other team members for feedback.

Rely on a single source for prospect names.

“I have an amazing mind, I can keep it all in my head.”

Bad “Best Practices” for Building Prospect Lists


What is a “Vetted” Prospect List?


D&B Strategic Marketing Database or Zapdata.com (Hoovers Lead Builder) ReferenceUSA Local Industrial Development Authority (electronic version) UCC Filings (there are compilation services) Local Business Publication directories (not always a good choice, too

visible) Guidestar.org (a great source for 501C3s) Trade Association Memberships or Websites (a few examples)

• American Society of Association Executives (www.asaenet.org/find/)

• American Dental Association directory (www.ada.org)

• American Institute of Architects directory (www.AIA.org)

• State and local trade association listings

Use Multiple Sources for Your Prospect List


Recent studies in the banking industry show that Business Owners are more than willing to help you. . .

66% of Business Owners are willing to provide referrals to Bankers.

But to get the referral you will have to ask; most Bankers don’t ask.

Only 22% of small-to-medium-size Business Owners have been asked for a referral in the past 24 months.

Only 37% of Middle Market Decision Makers have been asked for a referral in the past 24 months.

Is a Consistent Flow of Referrals a Possibility?


Small Banks’ Ratings on Willingness to Refer Have Improved, While Medium Bank’s Ratings Declined

67% 66% 68%72% 71%71%

63%

70%

47%

60%56%

59%

64%61%

63% 57%

43%

40%41% 41% 41% 40%

35% 36%

75%

70%

65%

60%

55%

50%

45%

40%

35%

30%2005 2006 2007 2008 2009 2010 2011

2012

Note: Bank trending data is representative of bank organization in 4Q2012.

Small Business Trailing 4 Quarter Data

% A

gre

e S

tro

ng

ly


Medium Banks (Assets $1B-$50B)


Small banks have improved on willingness to refer and are currently at 70% agree strongly, while medium banks dropped to 57%.

$100K-<$10MM

Q: Please indicate how strongly you agree or disagree with each statement. I would refer a company with similar needs to my primary bank.


Why do Business Owners provide referrals?

They may like to help other business people.

They may want to be “heroes” to their friends and business partners.

They understand that it’s the best way to grow business for them and for you.

They may see referrals as a way to “pay you back”.

The Whys of Referrals


Why don’t Bankers ask for referrals?

The quality of referrals isn’t always the best.

They don’t want to “harass” good clients.

They’re not sure whom to ask; they’re not sure when to ask.

They don’t have a process for asking!



Why don’t Bankers ask for referrals?

The quality of referrals isn’t always the best.

They don’t want to “harass” good clients.

They’re not sure whom to ask; they’re not sure when to ask.

They don’t have a process for asking!

http://www.mzbierlyconsulting.com/how-to-ask-customers-for-quality-referrals






1. Wait and See: “If I continually provide outstanding service. . . when they hear of an opportunity they’ll give me a call.”

2. Let them know I’d like a referral: “Jack, if you think of anyone who would be a good a match for me and the Bank I’d love to talk with them. Let me know if you think of anyone.”

3. Proactively ask for an Introduction: “Jack, there are a several people in the area I’m trying to meet. I was hoping I could run their names by you. . .”

Asking for Referrals

There are multiple ways to build a Network Referral Process. . . but one works better than the others. Here are the three most prevalent:


Industry information

Financial information

Website

Call planning templates

Simplified relationship plans

Cash cycle maps

LinkedIn

Use tools that make you look good


These are your Meeting Objectives for the Business Operations Meeting:

1. Demonstrate your knowledge and understanding of some of the key issues in the industry sector of the business.

2. Understand the keys to success used to build the business.

3. Understand the current [1-year] business objectives of the business.

4. Understand the future [3-year] business objectives.

5. Understand the day-to-day business operations of the business.

6. Understand how his business objectives and business operations will change over the next year, the next 3 years.

7. Identify three needs, short-term, mid-term or long-term; summarize and then prioritize the needs; use the top prioritized need to get the next appointment.

8. As a part of the next meeting, frame a Financial Operations Discussion (with key parties) to review the current cash-cycle and potentially to offer ideas for optimizing collections, disbursements and working capital management.

First Call Objectives — Use a Template


Call Plan Templates


COACHING THESMALL BUSINESS INITIATIVE

Key Initiative #4



Stance: Waiting for opportunities to come

in


part of the time


regularly

Stance: Actively building market share,

wallet share and developing opportunities


customers or “well-worn” referral sources

Lead generation is largely reactive

Product-focused client discussions

Methods: Some referrals from customers Generating leads from any and


referral sources Focuses at the Business/Office

Manager Level Focuses primarily on product

issues

Methods:· Focused and proactive lead

generation· Effective use of testimonial referral

sources· Focuses at Business Owner level,

builds Level 3 or 4 relationships· Has effective Market and

Relationship Strategies· Effectively uses Business Partners

to build relationships

Methods: Actively building a referral

network and effectively using it Actively working the best clients

and prospects Actively building niches Consistently uses Business

Acumen as a Value Proposition Highly effective at adjusting lead

sources and building a brand

Characteristics: Infrequent calling, little planning

or structure to calling effort Works “whatever is in front of

me” focus Focuses on credit/product

strategy first then “sales” strategy Value proposition centers around

price/structure or “customer service”




time, leads “scorecard” product Identification of opportunities

limited to 1-year time frame inconsistent results and


Characteristics:· Stays focused on targeted lists· Persistent, never gives up· A focus on depth of relationship· Completely comfortable with

Business Operations and Financial Operations Conversations

· Consistently identifies opportunities (short-term, mid-term, long-term)

· Consistently generates results

Characteristics: Always aware of new

opportunities Always thinking one year ahead An articulated plan for

consistently developing new opportunities

Long-term, expertise-based relationships

Direction: Build the Activity

Guidance: Build the Quality

Support: Remove the Barriers

Coaching the Stages. . . Bi-Weekly


The “End State” of Stage 1 is learning to Connect with the Business Owner.

The Banker is ready for Stage 2 Coaching when she consistently demonstrates these skills:

Comfortable on the Business Owner’s “turf”.

Confident talking about business operations [not just products] with the Business Owner.

Convinced he has “something of value” [beyond just products].

Assertive enough to “lead” the meeting with the Business Owner.

These skills typically require 75 to 125 calls to learn—for more insights go to:

http://www.mzbierlyconsulting.com/small-business-strategy-coaching-branch-managers

Coaching Stage 1 (to Stage 2)




Keep the Banker Targeted. Build and “Vet” a list of 35 to 50 Businesses (the Targeted Business List). Use these lists to build the Targeted Business List: the Banker’s current Retention, Expansion and Other Lists.

Begin to “encourage” planning. Ask the Banker to build a Client Folder for each Relationship before contacting the Business Owner [they probably won’t, it’s OK for now].

Ask the Banker to review the Client Folder and to use one of the Quick Reference Guides for each call [they probably won’t, it’s OK for now].



In each bi-weekly coaching session, debrief 2 or 3 meetings the Banker had in the last 2 weeks. Debrief the meetings by asking all of these questions, in this sequence: “How did the meeting go?” “Did you find any opportunities during the meeting?” “What did you learn about the industry that this business operates in?” “What did you learn about the Business Owner’s business objectives today,

over the next year, over the next 3 years?” “What did you learn about the day-to-day business operations of this

business?” “What did you learn about the Business Owner and what he/she “values”? “How did the Business Owner describe the value proposition he uses in his

business?”



Re-Establish the “Priorities” every Monday Morning. Use Monday Morning Sales Meetings to continually re-establish the priority

of “meeting with” and “learning about” the targeted businesses. A conference call is OK. The Small Business segment of your sales meeting should not exceed 30

minutes. The “accountability” topics for Stage 1 Team Members are these. Ask each

Stage 1 Team Member 2 of these 3 questions (ask the Stage 2 Team Members their questions, not these):

• “What targeted businesses are you calling on this week?”

• “Pick 1 targeted business you met with last week, what did you learn about the business and its operations?”

• “Are you finding any opportunities in your meetings with the businesses on your targeted lists?”



Questions?


“When all is said and done, more is said than done.”

Lou Holtz

http://www.google.com/url?source=imgres&ct=tbn&q=http://peakcoach.com/blog/wp-content/uploads/2010/07/lou-holtz.jpg&sa=X&ei=CJunTMKfAYWglAfR8Nm5DA&ved=0CAUQ8wc4Aw&usg=AFQjCNEz5RYcFSMZGzojHB50hmmbdl1BqA


Visit Our WebsiteAfter the conference take a few minutes to explore our website. . .

And register for our email newsletters and blog. Each month you’ll get suggestions, tips, and how-to’s to fine-tune your sales and sales leadership processes.

Find out about our archived webinars on sales and sales leadership topics.

To find out more about our resources for small business banking teams go to www.mzbierlyconsulting.com or call Ned Miller at (610) 296-4772 or email him at [email protected]

Bonus offer: Article on “How to Improve the ROI on Training Branch Managers” athttp://www.mzbierlyconsulting.com/a-winning-strategy/



mailto:[email protected]

http://www.mzbierlyconsulting.com/a-winning-strategy/



Nyba.retail and small business conference.march 15 2013.v1

Business

Transcript of Nyba.retail and small business conference.march 15 2013.v1