Episode 22- Selling with a Servant Heart- Tom Bennett

In this episode of "Small Business, Big Moves,". Thomas Bennett digs deep into his new book collaboration covering all things Sales. 

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Small Business Big Moves is a podcast where innovation meets entrepreneurship. Join Tom Bennett as he explores all things  business growth! From business funding and business tax credits to conversations with leaders who have grown successful and innovative businesses! 

Transcript

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Welcome to Small Business Big Moves, the podcast where innovation meets entrepreneurship. I'm your host, Tom Bennett, and we'll explore all things business growth from business funding and business tax credits to conversations with leaders who have grown successful and innovative businesses. Welcome to the show. Today's episode will be a little bit different as I recently became a published author through a book I collaborated on titled Real Talk with Real Business Pros, How to Win in a Competitive Market. And today I'll actually go through a section of the book focusing on sales and how to elevate your business through building lasting client relationships. Let's jump into it. So among the multitude of sales professionals, The consistent skill that elevates the good from the great is really the ability to sell with a serving heart. It's not just about pitching a product or service that you believe in, but it's also about serving and supporting clients at the highest level. Those who excel in this capacity are the consultants and advisors who wake up each morning with an infectious excitement, propelled by the knowledge that they can positively impact the world while finding genuine joy and purpose in their work. So. There's a large contrast between really serving clients with a steadfast commitment to their success and relying solely on aggressive closing techniques to secure more deals. Personally, I believe that confidence in the positive impact of one's products and services. On customers businesses is paramount without it one really can't reach their full potential Which is a lesson that I learned the hard way for nearly a decade I've collaborated with numerous business owners across industries of varying sizes Navigating through experiences and stories that span the spectrum from large corporate entities to startups and everything in between, my journey has been extremely diverse, along my sales journey, I've encountered numerous challenges, just like most of you out there as well. So I've had the police called on me, face threats and doors slammed weathered a barrage of insults and even had dogs unleashed upon me and attempts to drive me away while soliciting. So my journeys in sales actually began right around the age of 21 and 22. And prior to that, I had been immersed in the food service industry. Really climbing the ranks to a supervisory position and really had a different desire, right? I ended up getting a desire to venture into the business world, particularly sales. And that had been something that really interested me. So at that time, my perception was that the only route into sales was through a college education, getting a degree. This, is something that. I had just always heard and believed was the only way to get into sales. And then as luck would have it, a close friend approached me really with an opportunity to interview at solar city, which at the time was the largest solar energy company. And I was able to secure the position. I delved into the world of door to door solar sales and really jumped all in and got my sales career started. That's, that's one thing that I, that I always mentioned to people looking to get into sales or getting started in sales is if you can get into door to door sales and get through that and reach some success, then I strongly believe that You can really accomplish anything you put your mind to when it comes to sales, and the sales domain has often been tarnished by a negative reputation right largely due to the use of aggressive sales and closing techniques right we've all heard. Phrases like close early and close often, or the mantra that we've all heard, A B C, A always, B B C closing, along with films like Wolf of Wall Street, Boiler Room, and many more, that have obviously helped contribute to the stigma. the prevailing wisdom was to knock on a minimum of a hundred doors daily. Which was really the only way that you were ever trained at, at the company that I started with, right? So the, the training was pretty much go out there, knock on a hundred doors. And then if you do that, you should see success. So this really got me out there and taught me how to really be self motivated, develop that discipline. And just hold myself accountable all around, right? So I got into this journey on self improvement diving into literature such as Brian Tracy, consuming audio recordings by industry experts like Tom Hopkins and Zig Ziglar. And eventually I gained access to sales training programs led by Grant Cardone, Jordan Balfour, Straight Line Persuasion, and many other sales educational trainings that I was able to benefit from. And at this point I adopted a cushy and assertive sales approach, really aligning with the methods that I had always been taught. So my sales journey. Was really transitioned to selling power purchase agreements also known as PPA, which is a model in the solar industry, where the solar company assumed responsibility for installing and maintaining panels on the customer's roof. And under this arrangement, homeowners committed solely to purchasing the solar electricity that was generated at a fixed rate over a predetermined period, typically spanning anywhere from 10 to 25 years. And this was constituted as a lease program. So I was really focused on leasing these programs, leasing these panels, and didn't get to sell the benefits of solar ownership and said my focus shifted to really illustrating how Homeowners in some of these affluent Massachusetts towns could benefit from reducing their utility bills. As you can imagine, when you're in that 1 to 5 percent of income earners, and maybe on maybe on the low end 10%. The last thing you're really worried about is saving a hundred dollars or so a month on a utility bill so that that made things extremely extremely challenging to get out there and try to persuade someone that we're going to come in and put these panels on your roof and also save you Around 100 a month or whatever that number came out to. So that that's really where my career started when I got into sales. And as I continued to grow, right, I I was operating on a commission basis. So really getting thrown out there to the wolves and lacking prior sales experience. Obviously experienced fluctuations in income with some months proving lucrative and very successful while others really pose challenges in meeting financial obligations. So I accepted a position at one of the largest uniform service companies and really switched the focus here. To working on objection handling diving more into my sales training and ended up finding myself selling services that I was never truly confident in or passionate about, right? So eventually I transitioned to HR, payroll and timekeeping sales, which marked a pivotal moment because this is where I began to believe in the products and services that I represented while recognizing that the belief alone is insufficient for success. It certainly served as a foundational element. And I truly believe that one cannot effectively serve clients or achieve success without genuine enthusiasm and conviction in the offerings that they're providing. So in 2019 and 2020, amidst this global pandemic outbreak or COVID 19 really wreaked havoc on businesses of all sizes, right? From small enterprises to larger corporations. And during this period, I was engaged in selling HR payroll and time tracking systems, specifically to schools across half the country, right? I covered. everywhere from Maine to Mississippi and focused on specifically education buildings and organizations, K through 12. As I navigated through my daily routines, this was becoming eye opening when businesses were shutting their doors left and right witnessing schools go through budget cuts, and it really opened my eyes up that this may not be the best area for me to be focused on. I'll never forget, I was in final stages of negotiation for What was really the largest deal I had worked on to date, where a superintendent informed me that the school's the district's budget had actually been slashed by 350, 000. And in that moment, the gravity of the pandemic. Pandemics reach really dawned on me, right? Prompting me to quickly adapt and recognizing that reaching the goals that I had for myself and what I was looking to accomplish just weren't, weren't in reach in this current position. So I actually underwent a profound shift in my motivation. I resolved to pivot my focus exclusively to aiding small and medium size enterprises. not only in weathering the storm of the pandemic, but also in thriving and realizing their organizational and personal objectives and demonstrating to clients how our, our services could assist them in achieving both their business and their personal aspirations really became paramount, right? I'd be, I got really motivated and really passionate about what I was doing and truly making an impact on a lot of small medium sized businesses and entrepreneurs. And amidst the challenging landscape, it became evident that business were businesses were in dire need of Of two critical elements, right? Financial resources and additional support. I'm going to say that again, just about every business needed financial resources and additional support. And the closure of numerous businesses due to financial constraints and a lack of adequate, adequate resources is a stark reminder of the potential impact that I could have made on these businesses providing assistance in the form of business tax credits. Working capital in business loans, such as lines of credit, SBA back programs and other financial resources that have could have had a tremendous benefit to these clients in small businesses. And that really altered the course for many struggling enterprises. In addressing the issue of resource scarcity, it became evident that there were numerous programs available to support businesses, yet many business leaders remained unaware of their existence, right? Programs such as The Paycheck Protection Program, also known as PPP, the Economic Injury Disaster Loan, which was known as the EIDL, the Restaurant Revitalization Fund. Employee Retention Tax Credits, also known as ERC or ERTC. Shuttered Venue Operators Grants for a lot of businesses that had to shut down their venue operations, and SBA Debt Relief where Among some of those initiatives aimed at aiding businesses, however, the absence of proactive outreach from organizations like the, like the IRS really left many entrepreneurs and small business owners uninformed or misinformed of their eligibility. And conversely, they missed out on valuable opportunities. We always joke that the IRS doesn't have a marketing arm. So that's where firms like us at shield advisory group are able to come in and make as many businesses as possible aware of some of these solutions available to them. And a prevailing misconception encountered was the belief that businesses could only qualify for either PPP or ERC and were really unaware of the updated guidelines that allowed eligibility for both. Provided there was no double dipping on wages, you couldn't claim The PPP and the ERTC on the same wages, but an example was a business could qualify for 500, 000 in the PPP program and 700, 000 in the employee retention credit. And what they would get is they would receive the difference so they would receive that 200, 000 in the employee retention credit. But as the challenges mounted, it became apparent that clients needed support now more than ever before, particularly in the wake of the COVID 19 pandemic, which impacted the vast majority of small and medium sized enterprises. which really fueled my determination to intervene and assist clients in accessing PPP, EIDL, employee retention credit program, and business funding as well, and any other resources or assistance that they needed. So, After navigating through six corporate sales roles, I finally came to the realization that the corporate environment just was not conducive to my approach. Really, I was focused solely on closing deals swiftly. And then really moving on to the next deal was really the the approach that I was always taught. Embracing a sales approach characterized by a servant heart became my defining philosophy, which really set me apart in the field and ultimately yielded greater satisfaction in my work. So don't get me wrong. Selling undoubtedly plays a pivotal role in driving bottom line results. There's no No arguing that you can't be in sales if you if you're not closing business But there's a more effective approach to sales that often goes overlooked And in the corporate realm roles are typically divided between account executives Which are responsible for generating new business and then account managers which are typically tasked with nurturing Existing client relationships in driving up cells, recognizing the value of both functions. I sought to integrate elements for both into my approach. I missed the challenges of the pandemic I realized the immense need for support among businesses that often went unmet. This realization prompted me to shift my focus towards building partnerships with consultants, offering a diverse range of products and services. Rather than fixating solely on promoting our offerings, my interactions with prospects and clients centered around understanding their challenges and identifying how their businesses could benefit. Who networking groups I discovered organizations dedicated to supporting small and medium sized businesses. And during these challenging times, they're commitment to finding solutions for businesses impacted by COVID 19. truly inspired me and was able to witness the tangible impact that they were making on countless lives and businesses. And then I recognized that I had yet to realize my full potential. And it became clear to me that my calling was to contribute to keeping businesses afloat and propelling them towards success. So like I mentioned earlier, not just helping these businesses survive, but But also helping them thrive. And with this newfound purpose, I transitioned from a corporate sales role to a position with a small firm focused on simplifying the lives of business owners. And this shift marked a significant turning point in my career as I evolved from being a mere salesman to a trusted consultant and advisor. And I really want to dive in on that a little more right at shield advisory group. The sole focus is each day how can we help make small and medium sized businesses and entrepreneurs lives easier. And that's really the approach we take each day. So really becoming that one stop shop for all things, small and medium sized business, and the principle out of all this is really that believing in what you sell and understanding your why or purpose or calling, whatever that may be, however, whatever you want to call it can give you a significant edge over other sales representatives and the effectiveness of your sales process and outcomes. hinges on the quality of the questions you ask prospective clients and your genuine concern for their business. So many salespeople fall short because they prioritize rushing through the process to close deals quickly and typically neglect the importance of thorough questioning. So shifting your focus to serving your clients and finding the best possible solutions for them Transforms closing a deal into a simple agreement to proceed, leading to problem solving. So, by asking insightful questions and prioritizing client education over closing tactics, you position yourself to outperform the competition a majority of the time. Service is arguably the most underrated yet crucial skill to a salesperson and adopting a mindset of selling with a servant heart can revolutionize your approach and yield substantial improvements in business outcomes. A helpful perspective is to tune into WEFM, which stands for What's In It For Me, and really put yourself in the mindset or shoes of your client. This involves putting yourself in the client's shoes and focus on meeting their needs and desires specifically. And when you genuinely connect with your clients, prioritize their interests and offer value success naturally follows when you adopt a mindset that you work for your clients and strive to enhance their business. Your results will reflect that commitment. Putting your prospect's interests first ensures their success, which ultimately contributes to your own success. Satisfied clients are more likely to provide referrals, which obviously further fuels your success. The number and quality of clients you serve directly correlates with your success. I'm a strong believer in the bigger the problem you solve, the bigger your paycheck is going to be. And by delivering value and understanding that clients seek out comes not just Products or services, but you position yourself and your clients to win. However, customer focus alone isn't sufficient It's crucial to have an in depth understanding of your products and services and how they can address your clients needs Providing targeted solutions and demonstrating empathy are essential components of success. I like to say that's actually something that I learned from one of my mentors are the two of the most important things that you can have in sales is confidence and empathy. And empathy is the ability to understand and share others feelings. it's a very powerful tool. And when combined with confidence in a servant seller approach, it becomes a potent force for helping clients overcome challenges. Being outcome focused allows you to prioritize the best possible results for your clients, which results in a fulfilling experience for both parties. One of my favorite quotes comes from the great Zig Ziglar that you can have everything in life you want if you will just help enough people get what they want. And I wholeheartedly embrace this philosophy because focusing on the client's success Ultimately benefits everyone involved. Instead of adhering strictly to the always be closing mantra, I prioritize always be servicing by obsessing over the best outcomes for my clients, displaying humility and setting aside ego, both the client and I emerge victorious. So shifting to a mindset of selling with a servant heart has ignited my passion for helping clients lead better lives and achieve their business and personal goals. I recognize that many, many salespeople feel constrained by quotas and metrics, by nurturing relationships, asking insightful questions, and truly understanding clients and their businesses are essential for long term success. Relying solely on short term sales results is insufficient for achieving lasting progress, investing time and asking probing questions during discovery calls, understanding clients concerns, frustrations, and aspirations, and determining how your products or services align with their needs is crucial for building meaningful relationships and driving sustainable growth. I make a point to be transparent with prospects from our first call, informing them if I don't believe our offerings align well with their needs, and then directing them to someone who can provide exactly what they require for their business. Every product or service should address your client's wants and needs, offering a solution that positively impacts them. Educating prospects rather than solely focusing on selling is crucial. And as an advisor, I aim to help them understand what's best for their situation and how we can achieve their desired outcomes. My ultimate goal is to leave clients in a better position than when our initial conversation began. And I do this by asking insightful questions and delving deep into my client's needs, which is essential. Thoughtfully prepared questions enable you to gain a comprehensive understanding of your clients and their businesses, allowing you to tailor the best solution for them. There's a stark contrast between actively listening to your prospects responses and merely moving on to the next question, which is a trait very common among many sales representatives. Emphasizing question based selling and attentive listening leads to positive results. Genuine care and active listening can really help overcome Every objection is clients will freely express their needs and preferences, which helps guide the sales process. And they'll typically tell you how they want to do business with you. The quality of your questions directly impacts the quality of your prospects responses, providing valuable insights into their pain points and challenges and guiding you towards the best outcomes. By asking the right questions, staying silent, and truly listening, you gain comprehensive knowledge about your client and their needs, and being fully present for your prospect is essential. This shift was monumental for me. Contrary to the training I had received and typical sales approach and approaches that I had adopted. Earning a client's trust hinges on three factors and that's that they must know, like, and trust you. And it also helps if they know, like, and trust your product as well. With trust being the foundation. Selling with a servant heart. Prioritizing their needs over yours. Naturally fosters trust. Building trust doesn't require a long time. It can be cultivated through preparation, empathy, and a genuine interest in serving your client. Once trust is established, clients are likely to remain loyal unless one of these factors diminishes. Many sales representatives remain at level one sticking to surface level questions like how's the market or how's your business without delving deeper into meaningful business discussions. While basic questions are common, it's the strategic deeper inquiries that uncover a prospect's pain points and challenges. Focusing on your customer's needs not only increases customer loyalty, satisfaction, retention, and referrals, but also earns repeat business. Succeeding is simple when you genuinely care about your customer's needs and strive for their best outcome. Doing right by your client often leads them reciprocating, fostering, lasting, profitable relationships, and generating referrals and repeat business. Shifting the mindset to prioritize the customer's approach is crucial for salespeople aiming for long term success. Another underrated skill among sales representatives is preparation. The more prepared you are to assist your prospect or client, the better the outcome will be. Unfortunately, many salespeople claim they lack time for training, preparation, and improvement. Very similar to an athlete saying they don't have time for the gym or practice. Many sales representatives remain at level one, sticking to surface level questions like how's the market or how's your business without delving deeper into meaningful business discussions. Another underrated skill among sales representatives is preparation. The more prepared you are to assist your prospect or client, the better the outcome. Unfortunately, many salespeople claim they lack time for training, preparation, and improvement, which is similar to an athlete saying they don't have time for the gym or practice. In today's world, most prospective clients top that have already In today's world, most prospective clients have already done their research and know what they want. Your job is to listen and help them achieve their goals. When a client is more prepared than you, you've already put yourself at a disadvantage. It's crucial to understand the fine line between selling and serving. And many salespeople overlook research throughout the sales cycle, especially before initial outreach, which can make a significant difference. Why would a customer want to do business with you if you know nothing about them or their business? Aim to exceed expectations and always do more than necessary for your clients. It's better to under promise and over deliver or set the right expectations from the start. Another Zig Ziglar quote that I love is when you do more than you're paid to do, you'll eventually be paid more for what you do. When you sell with a servant heart, you naturally earn repeat and referral business, testimonials in various upsell and renewal opportunities. This ensures you hit your targets almost automatically. Given that client acquisition is the most expensive aspect for small business owners, retaining clients. You've earned is paramount regular check ins updates seeking feedback Handling complaints and seeking referrals or testimonials are essential while average salespeople spend minimal time asking questions exceptional advisors engage in intellectual business conversations Understanding the prospect's businesses, challenges, and needs before offering tailored solutions. Sales essentially boils down to problem solving, and your job is to meet or exceed your client's needs. Positioning yourself not just as a vendor, but as a trusted helper and problem solver. By prioritizing service over sales, we foster healthier business environments selling with a servant heart means focusing on ensuring your prospects win in every sale, developing mutually beneficial relationships, and putting customers interests above your own. As Theodore Roosevelt said, nobody cares how much you know until they know how much you care. Embrace a customer first mindset and sell with a servant heart. Remembering that the more you give, the more you receive. The bottom line in selling with a servant heart positions you to better assist your clients and reach your true potential by prioritizing their needs over your own. When you shift your focus to ensuring your clients win, you ultimately work for their benefit, yielding the best results. I recommend embracing a customer first mindset and selling with a servant heart. It's as simple as giving more to earn more. I wanted to leave you all with some actionable tips, such as lead with a servant focus. Your goal is to help your client win. And as a result, you too will win. Listen attentively to your client without formulating your response in advance. Focus on understanding their needs and future desired state. Pay attention to what is not being said and delve deeper to uncover hidden concerns or preferences. Maintain laser focus on your prospects responses to your questions. Their feedback will provide valuable insights into their frustrations, desires, and goals. Ask probing questions to gain a comprehensive understanding of your customers needs, pains, and aspirations, and aim to become a sales doctor by meticulously exploring their requirements. Each question you ask should bring you closer to understanding the client's true needs and objectives. Focus on delivering what the clients want and strive to fulfill their expectations, guiding them towards their desired future state. Utilize a customer relationship management system, also known as a CRM, to track prospect and client information, including important dates like birthdays and anniversaries. Additionally, record their preferences and interests to personalize your interactions and build stronger relationships over time. If you're eager to accelerate your journey to selling with a servant heart, Join our team and learn the recipe directly from me for free and don't hesitate to reach out and partner with me to discover how to sell with genuine care and also find us all over social media at Thomas Bennett and we look forward to seeing you on the next episode.