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APRIL 2012 Issue 60

NZSALES Understanding Financial Reports

Getting Past <Del> Get Organised NZâ&#x20AC;&#x2122;s e-mag for sales leaders 1 /


THIS WEEK'S MUST READ Understanding Financial Reports The key numbers to look for


Getting past <Del> 3 reasons why prospects ignore your emails


BOOK REVIEW The Challenger Sale – Taking Control of the Customer Conversation


Quick Fix It’s not what you sell, it’s how you sell.


TWO MINUTE TOP-UP Get Organised It’s not an option / 2









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ABOUT / Short and sharp, New Zealand Sales Manager is a free e-magazine delivering thought provoking and


enlightening articles, and industry news and information to forwardthinking sales managers, business owners and sales professionals.

EDITOR / Paul Newsom ART DIRECTOR / Jodi Olsson GROUP EDITOR / Trudi Caffell



ne of the most rewarding parts of my work with the Young Enterprise Trust is presenting the BusinessNZ Challenge. This three day programme is run in 45 High Schools around the country each year. On the final afternoon, the students present their business plans to a panel of judges who are local senior business people.

of their business, and above

Phone Paul on 04 586 4733 or email

all, they all have an influential

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Phone Alastair on 09 551 0607 or email

with these people in always do

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ADDRESS / NZ Sales Manager, C/- Espire Media, PO Box 99758, Newmarket,

the future.

Auckland 1151, NZ

It leaves me feeling good that


our country is in good hands with these young people who

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have what it takes to undo the

The future sales stars always

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Understanding Financial Reports The key numbers to look for By Sue Hirst

Editors Introduction Good preparation is a vital part of any account entry campaign. For


here are many things to

This means, for every dollar of

look at in a client’s annual

current liabilities, this business has

report. Here are the top 4

$1.75 of current assets to cover it.

numbers you should be looking at:

A Ratio of less than one will be most undesirable in term of its ability to

your prospects who publish an

meets its short term obligation,

annual report, this document will

Current Ratio

provide you with valuable insight.

This is a very simple indication of

Use the insight to position your

how healthy a business is and how

This result isn’t always found in

value proposition, develop your

able it is to meet its short term

the Annual Reports, but you can

questioning strategy, and give you

obligations. This ratio is calculated

generally find it somewhere on the

the confidence to establish your

by taking the current assets and

web if you’re dealing with a public

credibility with any senior manager

dividing them by the current

company, or you could calculate it

in the organisation. Use the insight

liabilities. Examples of current

yourself from the Balance Sheet.

too to do your risk analysis on

assets are accounts receivable,

whether this is a prospect that you

bank balance and inventories.

should be doing business with. For

Examples of current liabilities are

Revenue Trend

example, does their business strategy

accounts payable, bank overdraft

Look at the revenue over say the

indicate medium to long term

and current (12 month) loan

past 3 or 4 years to see how it’s

potential for you as a supplier, or are

repayments. Here’s an example:

trending. Is it going up or down

they financially in good health and able to pay their bills?

and why? Is the trend likely to

Current Assets Accounts Receivable


All annual reports include a financial



report, which you should take time



to review and interpret. If you want



Accounts Payable


to acquire and keep ‘A’ class clients, it pays to know a little about their financial position. But what exactly are you looking for, and what do the numbers mean?

Current loan repayments100,000 Total / 6

200,000 =

continue and are there external or environmental influences on the business. If the trend is upwards and you’re a supplier that’s great, but if it’s going down without good reason, you may want to look for healthier prospects. Or maybe your product/service might help the business grow

Current ratio calculation: 350,000/200,000

including paying your bill.


their revenue.


Net Profit % Trend Look at the net profit percentage over the past 3 or 4 years to see how it’s trending. Percentage is more important to look at than just dollars, as a percentage is relative i.e. you can have increased dollars of profit, but if the revenue required to create that profit needed to increase disproportionately, that could indicate poor management, price pressure or selling less profitable products. Here’s an example of dollars versus percentage view:

You can see above that the profit dollar figure is going up but the percentage is going down. This indicates that costs and overheads are not being managed in line with revenue growth, and possible pricing and product lines issues.

Total Assets & Total Liabilities and Equity This is actually two numbers and they are found on the Balance Sheet. These numbers show if the business is creating or

Year 1

Year 2

Year 3

Year 4





Costs & Overheads





Net Profit










Net Profit %

eroding value. If they are trending upwards it means the business is growing and managing its assets and liabilities well. Very importantly if the Equity is low or negative, there might be a risk of recovering your payment from the company if something goes wrong.

All of the above indicates the health of a business and healthy clients are what your company wants. A lot of resources go into developing, marketing, selling, operating and funding a product or service. If a client can’t pay, these resources are being wasted and too much waste is detrimental to your own company’s health. ■

Sue Hirst helps small and medium sized businesses to gather the crucial information that entrepreneurs, MDs and CEOs need to support their day-to-day and strategic decisions. You can find out more at

7 /


Getting past <Del> 3 reasons why prospects ignore By Kendra Lee your emails


n a perfect world, every email we send to a potential client would be read and responded

to right away. Unfortunately, many of our prospects are too busy to even look at all the messages they receive, much less act on them. By avoiding the most common mistakes other people make, savvy sellers like you can move their way to the top of the inbox, and fill their sales funnels with new leads. In fact, Sheila, one of our clients, recently reported that she got a response from a top prospect after only 20 seconds -- and this after sheâ&#x20AC;&#x2122;d tried to reach him by cold calling for weeks! She was shocked by how only a few tweaks to her prospecting email got such a quick response. You can get the same results simply by remembering the three biggest reasons prospects ignore your emails â&#x20AC;&#x201C; and then avoiding them. / 8


By avoiding the most common mistakes other people make, savvy sellers like you can move their way to the top of the inbox, and fill their sales funnels with new leads.

They never got your email in the first place. With the sheer number of unwanted email messages most of us receive, it’s no surprise that spam filters are becoming more and

You didn’t give prospects a

It seemed like too much to

strong enough reason to take

deal with at the moment. You

action. Hard as it is to believe, few

have three seconds -- or less -- to

people care that your company

convince a prospect that they want

has a long track record of success.

to read your email, and that it won’t

Prospects are too focused on their

take up more time than they’ve

own problems and issues to bother

got at the moment. Your goal is

more aggressive. Messages with

with any of that. Keep this in mind

to make your email not just sound

attachments (especially large ones),

and use your email message to

compelling, but also look easy to

lots of links, extensive marketing

emphasize common issues and

act on. The easier it is, the more

graphics, and other gimmicks aren’t

triggering events you can solve

likely your prospect will read the

likely to make it to the recipient’s

that really matter to your customers

inbox in the first place. Keep your

and prospects. Make them want

continue and respond to you.

prospecting emails simple and image

to engage with you! The point isn’t

If your email is more than three

free, even in your email signature.

to tell them more about you. It’s to

paragraphs long, asks your

They’ll have a lot easier time making

give them a strong enough reason

prospect to fill out a lengthy

it past SPAM traps and junk filters.

to begin a sales conversation.

registration form, or otherwise

first sentence, and then dive in to

9 /


Your contacts are already too busy. Give them a clear specific call to action that you’d like them to take after they read your email. Reply. Call. Click here. Register. seems like something that’s going

them to do doesn’t take more

rate on his email lead generation

to take them away from what

than a moment or two.

campaign. In just a few days,

they were thinking about, then the chances are good they aren’t going to bother.

Even following these steps, you might never achieve a 100% response rate on your prospecting

his biggest problem went from needing more leads to finding the time to respond to all of them. Now that’s a problem many sales

Your contacts are already too busy.

email campaigns. If you can take

Give them a clear specific call to

the time to incorporate these

action that you’d like them to take

tips into what you do, however, I

after they read your email. Reply.

promise you’ll see an enormous

Call. Click here. Register.

improvement just like Sheila.

Tell them what you want them to

Derek, another seller who switched

significantly better results – both

do using a simple sentence. Then

up his email approach using

in your sales pipeline and your

make sure that what you’ve asked

these steps, got a 61% response

prospect’s attention. ■

reps would like to have! So take my advice and don’t fall for these three common email prospecting traps. Once you avoid them, you’ll start seeing

Kendra Lee is a top IT Seller, Prospect Attraction Expert and author of the award winning book Selling Against the Goal, and president of the KLA Group. To find out more visit

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The Challenger Sale – Taking Control of the Customer Conversation


Authors: Matthew Dixon and Brent Adamson Publisher: Portfolio Price: $31.99 from

he best sales people don’t

complex, large-scale solutions.

The authors’ research shows that

build customers-they

It turns out every sales rep in the

customers will reward suppliers

challenge them.

world falls into one of five distinct

who can deliver a new perspective

Based on a quantitative study

profiles: the hard worker, the

during the sales process and

of more than 6,000 sales reps

problem solver, the challenger, the

reframe their expectations. The

in multiple industries and

relationship builder, and the lone

book explains how to deliver a

geographies, “The Challenger

wolf. While most of these reps can

distinctive purchase experience

Sale” argues that classic

deliver average sales performance,

that drives higher levels of

relationship building isn’t enough,

only one-the challenger- consistently

customer loyalty and, ultimately,

especially when it comes to selling

outperforms the others.

greater growth. ■ / 12



It’s not what you sell, it’s how you sell.

Disconnect to get things done


n this world of ubiquitous

and compromising your

instant communication,


it is easy to fall into

If you have some serious

the trap of being tethered

prospecting to do, follow ups

to technology – our smart

to make or a key proposal to

phones, ipads and email. The

complete in the next hour, then

temptation to immediately

focus on the task and don’t be

respond to communication,

distracted by technology. Turn

and the inferred expectation

your phone off and shutdown

that we will respond, is likely

your email, or at least turn off

to be consuming your time,

the annoying message alerts. ■

13 /

2 Minute top-up

Get Organised It’s not an option By Ivo D’Silva


eing organised is

than forty hours. This is a whole

becoming increasingly

week spent looking for some

important in today’s

misplaced information!!!

selling environment. It is the key to increased sales as it will help the sales team to be more efficient, effective and focused. Time is money and saving time by being more efficient will improve productivity and drive positive results. Consider this….If you spent just

By staying organised, sales professionals can get much more done in their business, and this is also seen by their customers who will return knowing they can depend on someone well organised and on top of their game to work with them for solutions.

ten minutes per day, five days a

Staying organised as a sales

week looking for some misplaced

professional varies from one person

information, this would add up to

to another. It is all in the mind and

fifty minutes per week and over

willpower to do well. Here are some

three hours per month. Over the

suggestions on how to remain

course of the year, that is more

organised in sales: / 14

2 Minute top-up

Get into a habit of setting

you can keep on top of your

performance. This could be a

specific goals for each day. This

daily activities. This helps in

subject for discussion during

will give you a much better

your motivation and progress

your one on one with your

focus on how you manage

through the day.

sales manager.

your time through the 8 hours you have in generating sales.

Remember to prioritise your goals. A simplified electronic flow chart may help. •

Create a schedule for the goals you have set. This will keep you on track of your sales activities. It is important to include breaks into your schedule for you to regain your enthusiasm and perhaps work on some administrative tasks.

Develop a usable checklist so

Keep all records of your existing

Finally and most important is

customers updated and handy

learn how to relax and enjoy

so you can assess them on a

the career you have chosen and

regular basis.

know this can take you a long

Keep a personal goal/ performance record, ideally electronically, so you can constantly gauge your personal performance and

way in your ambitions through life. Keep reminding yourself that you are a professional in your own right and you have what it takes to bring results.

work on areas you are lagging

Using the words of organisation

behind. It is recommended

guru Pam N Woods, “organisation

that you add any training

is not an option, it is a fundamental

needs that you feel will

survival skill and distinct

help improve your personal

competitive advantage”.

“Using the words of organisation guru Pam N Woods, “organisation is not an option, it is a fundamental survival skill and distinct competitive advantage”.”

Ivo D’Silva is passionate about helping sales people be successful, and is the NZ Cargo Sales Manager for Malaysian Airlines & Delta Air Lines with GSA MCH Holding Australia Ltd.

15 /


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usiness software provider

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Presenters from both New Zealand

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have gathered a panel of digital

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wide array of Internet business

Terabyte, and the Asia Pacific MD

Zealand’s biggest online event

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of LinkedIn, Cliff Rosenberg. Linda

covering the various tools available

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Coles will also be presenting.

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so MYOB is very pleased to be

engage more with their clients.

The course begins on May 1. Go

supporting Blue Banana “20”,”


“20” will take place entirely online

says MYOB general manager

for more information or email

via twice weekly sessions for ten

Julian Smith. ■

Mail, Jane Melville-Allen from

Social Media Statistics


ocial media is a fast-

Zealand’s social media landscape.

paced, ever-changing

Watch the full video here.

battleground. So to bring

you up to speed, the latest / 16

The stats are changing so fast,

YouTube video from Catalyst90

the guys at Catalyst90 say they

is hot off the press with the

will be updating the video every

most up-to-date data from New

3 months. ■






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NZ Sales Manager Issue 60  

Short and sharp, NZ Sales Manager is New Zealand’s e-Magazine for sales professionals and is read by thousands of high performing business p...