RECESSION - Being more of a fundamentalist than an alarmist, I look at our economic circumstances as just that - circumstances. They are different than they were a year ago and they are different than they will be a year from now. How we respond to those changed conditions is what usually determines our success or lack there of. Kind of like this week's Masters golf tournament. The players are likely to see some sun, some wind, some rain. They cannot play the same way every day and expect good results, just like you cannot sell the same way in the face of significant changes in the industry. The market changes are obvious (so many of you are telling me the same things). Companies are expressing interest but slowing the buying cycle to a crawl and delaying decisions. Major projects are getting broken into pieces with each piece needing its own ROI. Risks have to be low. Bring your own resources. And more. So what does that mean in terms of how salespeople should respond?

First, a change in circumstances does NOT mean a change in the fundamentals. Again, like at the Masters, responding to greens slowed by rain doesn't change your putting stroke. You still need to dig for needs, understand the decision process, qualify (maybe even harder), follow up, and stay focused on value. Second, be prepared to shift deal strategy based on how a prospect (remember every prospect is different) is reacting to new market conditions, their company's health, and changes to their corporate directives. There may also be changes to the relative strengths and weaknesses of your company and your competitors. Attributes that in a growing market are seen as a key strength, may now be less important to a buyer. For example a smaller company usually seen as nimble, may now seem high-risk. A bigger company that has recently been perceived as behind the times may now be seen as a creative financer. So, take a minute to reassess. Third, just because prospects are feeling the economic pinch, don't drop your price at the first sign of pushback - that's still a piker move.

A final thought - changing market dynamics can open the door for deeper discussions. Use new conditions to prompt dialogue. Everyone has an opinion and likes to be asked.
o What do you see coming?
o What is your plan to meet these future challenges?
o This is what we are seeing. What are your thoughts?

On the Hunt: Finding a hot topic and messaging around it is a great way to break into new accounts or find new opportunities in existing accounts. One such hot topic that was getting plenty of attention even before our current economic conditions is Risk Management. With news programs still hammering away at "How did this happen?" and "What's being done to ensure it never happens again?", companies are asking themselves the same questions. What is nice for us is that the idea of Risk Management is incredibly broad. The Enterprise Risk Management (ERM) solutions out there focus primarily on asset allocation, capital requirements, and contingency planning; however, the concept is so much broader - basically addressing how a company protects itself against trends and events that will negatively affect their ability to compete profitably. Whatever solution you sell touches this concept in some way. Be prepared to share with your prospects how your solutions address that question. To get the ideas flowing for how you might refocus your pitch to hit this current hot button, check out the Risk Management link in the "Check This Out", at the bottom of the page.

Productivity: We all fall into unproductive habits from time to time. Facebook, checking a sports team's web page, managing investments during work hours can kill time. And, since time is the only asset we each have the same amount of and is being depleted simply because we are alive, managing time is extremely important. Do yourself a favor and pick up a book on time management. Yes, I know you've read plenty of them, but re-reading one will do a couple things for you. One it will feed your mind with something positive - direly needed in today's glut of negative info. Two, it will remind you of concepts that you have probably forgotten. And three, it might motivate you to exchange one bad habit for a better one. On average, it takes 21 days to break a bad habit or start a new one. If you could find another 30 minutes in your day through revisiting a good time management book over the next three weeks, how might that impact your success?

Spring means ACORD/LOMA time. As always it is a great opportunity to stay abreast of the market, new players, future outlooks, selling, and networking. This year's theme is Envision. With some interesting new trends in technology, P&C carriers dealing with a soft market, and life companies reeling from the down financial markets, there will certainly be plenty of topics to help us all envision a brighter future. Keynote speakers look to be outstanding - The McLaughlin Group - including John McLaughlin and Pat Buchanan (yes, that Pat Buchanan) and futurist David Smith. Should be very interesting.

www.acordlomaforum.org.

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Elite Sales Professionals is an executive search firm specializing in high-level sales and sales management searches, primarily for positions selling technology and services into the Financial Services and Insurance verticals. If you would like to correspond with us or submit your resume, please e-mail us at Alpha@saleswolves.com.

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