Strategic Selling: Four Sales Mindset Blockers and How To Overcome ThemOctober 17, 2023 2023-10-27 12:58
Strategic Selling: Four Sales Mindset Blockers and How To Overcome Them
Strategic Selling: Four Sales Mindset Blockers and How To Overcome Them
Scaling a trade or construction business is a goal that many ambitious entrepreneurs in these industries aspire to achieve. It’s a journey that promises not only increased revenue but also enhanced reputation and a broader reach in the marketplace. However, this path is not without its challenges, and one of the key factors that can make or break your success is your sales mindset.
A strategic sales mindset is a powerful tool for any business owner, but it takes on special significance in the world of trades and construction. In this context, it’s not just about understanding the nuts and bolts of selling; it’s about adapting to the ever-evolving economic and industry landscape while still pursuing growth. In fact, it’s the foundational element upon which your scaling efforts will be built.
In the following discussion, we’ll explore the three primary sales mindset blockers that often hinder trades and construction business owners in their journey to scale their enterprises. These mindset blockers, which we’ll delve into shortly, are common but surmountable challenges that can be addressed through a shift in perspective, innovative strategies, and the will to grow. Let’s take a closer look at how overcoming these obstacles can pave the way for your business to thrive, no matter the external forces at play.
Sales Mindset Blocker #1: Short-Term Focus
With the pressures of deadlines, cash flow, and day-to-day operations, it’s all too common for business owners to prioritise immediate, short-term gains. As a result, many businesses become trapped in a cycle where they focus on quick wins and immediate profitability, rather than considering the broader picture of long-term growth.
While short-term gains may provide temporary security, they can hinder the progress and scalability of a trade or construction business. A short-term mindset can lead to missed opportunities, limited investments in critical areas like infrastructure and workforce development, and insufficient long-term planning.
Take, for example, a small plumbing company that consistently focused on securing short-term contracts. While they saw immediate profits, they failed to build a sustainable customer base or make plans to diversify revenue streams. When a recession hit, their only source of income – the short term contracts – less than halved. Meanwhile, their competitors with a more strategic, long-term approach were able to adapt quickly and maintain, if not grow, revenue.
Actionable Advice for Shifting Towards a More Strategic, Long-Term Perspective
Shifting away from a short-term focus to a more strategic, long-term perspective requires a deliberate effort. You have to prioritise it, because it won’t happen any other way.
Here are some actionable steps to help your business make this transition:
1. Set Long-Term Goals: Think about where you want to be in 5-10 years, and define them as clear, long-term goals for your business. This provides a roadmap for your everyday decision-making moving forward.
2. Invest in Infrastructure: Allocate resources for infrastructure development, such as technology, employee training, and process improvement, to ensure your business is well-prepared for future growth.
3. Balance Short-Term and Long-Term Strategies: Recognise that short-term profits are essential, but they should complement a broader, long-term vision, rather than conflict with it.
4. Regularly Review and Adjust: Continuously assess your business strategies and adapt them as needed to stay aligned with your long-term goals.
Overcoming the short-term focus mindset is a crucial step in positioning your trade or construction business for sustainable growth. By emphasising a more strategic and forward-thinking perspective, you can navigate the challenges of the industry and build a foundation for lasting success.
Sales Mindset Blocker #2: Personal Beliefs Around Price
Pricing is a critical aspect of any business, but it’s often influenced by personal beliefs and biases that have no place in decision-making. Business owners base their pricing strategies on what they believe they would be willing to pay, rather than objectively assessing the market and the value they provide.
This mindset blocker can greatly affect sales strategies and business growth, because services are undersold. You might think spending $1m on a car is ridiculous, but Koenigsegg and Bugatti aren’t going out of business any time soon.
But this blocker affects far more than just the revenue made on each job. The way you price yourself and present your value to the market determines the quality of customer you’re going to attract. If you want to sell your ideal service at the ideal margin to the ideal customer, you can’t price yourself to attract the customers who shop around for the cheapest price.
It’s a common and understandable fear that increasing prices will lead to losses of current customers and future sales. But the opposite is true. Sure, you might lose some current customers, but that’s a good thing. If they’re not an A-grade client and you can’t get your ideal margin working with them, find someone else who can give you what you want.
How to Overcome Personal Limiting Beliefs to Optimise Sales
To overcome personal beliefs about pricing and optimise sales, it’s essential to take a more objective and strategic approach:
1. Take Yourself Out Of The Equation – You are likely NOT your ideal client. Even if you are, you’re not an A-grade client, because otherwise you’d be willing to pay the price you want to charge without hesitation. This isn’t about you.
2. Be in Abundance – There are more people out there than you think you are willing to invest in high quality services. Start believing they’re out there, and start focusing on how you can attract them.
3. Listen To The Right People – If someone isn’t your ideal client and they tell you your prices are too high, don’t let it affect your decision-making. You’re not marketing or pricing your services to them, so their opinions don’t matter.
4. Market Research: Conduct thorough market research to understand industry standards and your competitors’ pricing strategies.
5. Value Assessment: Determine the true value of your products or services, and price them accordingly. You’re solving a problem for someone. Focus on quality, expertise, and the unique benefits you offer.
6. Customer Communication: Communicate the value you provide to customers to justify your pricing, build trust and demonstrate why you’re worth the cost.
Sales Mindset Blocker #3: You Don’t Want to Be Too Salesy
There’s a common aversion to being perceived as “salesy.” Many business owners in the trades and construction industry shy away from overt sales tactics, fearing they may come across as pushy or insincere. However, this mindset blocker can hinder your ability to truly serve your customers.
The truth is, selling is not about pushing a product or service onto someone who doesn’t need it. It’s about identifying problems, needs, and challenges your potential customers face, and offering solutions. In essence, selling is serving.
If your trade or construction business has the expertise and resources to address a customer’s problem, you’re not doing them a disservice by selling to them; you’re providing them with a valuable solution.
Imagine a situation where a homeowner is dealing with a persistent leak in their roof. They may not be aware of the extent of the damage and potential risks it poses. By approaching this situation with a “selling is serving” mindset, you’re not only offering your roofing services, but also safeguarding their home from further damage and their family from potential harm.
So, it’s essential to shift your perspective from being “salesy” to being a problem solver. Recognise that your offerings have the power to improve your customers’ lives, fulfill their needs, and potentially ensure their safety. When you approach sales with this mindset, you’re not just closing deals; you’re making a positive impact on your customers’ well-being, which is the essence of true service.
Sales Mindset Blocker #4: Fear of Change
The fear of change is an all-too-familiar sentiment. It’s a collective mindset blocker that often permeates the industry. While we shouldn’t be too quick to deviate from traditional practices where needed, in a rapidly evolving world, clinging to the status quo can damage your growth.
Fear of change restricts the potential for growth in numerous ways. It keeps businesses tethered to outdated practices, limiting innovation and agility. For example, some construction companies may resist adopting new construction methods or materials because they’ve always used the same ones. Fear of change can also inhibit the adoption of new technology, preventing businesses from realising the efficiencies and competitive advantages that modern tools can offer.
Consider the story of a small construction company that had been in the family for generations. They excelled in traditional building methods, but resisted adopting newer, more sustainable practices. As the construction industry increasingly demanded green building solutions, the company lost market share and struggled to compete. The fear of change had put the business on a trajectory of decline, highlighting the real consequences of this mindset blocker.
Strategies and Tips to Overcome the Fear of Change
Overcoming fear of change requires a deliberate shift in perspective. Business owners and their teams must recognise that change is not inherently negative; it’s an opportunity for growth.
To conquer this mindset blocker, it’s essential to:
1. Ask the Right Questions – Instead of immediately thinking of the ‘negatives’ or what you think you’d lose when a new opportunity comes along, ask yourself – “What can this allow me to do, that I can’t do right now?” Take the time to understand, rather than being immediately dismissive.
2. Embrace Continuous Learning – Encourage a culture of ongoing education and professional development within your team. This can help make change less intimidating, as you acquire new knowledge and skills.
3. Set Clear Goals – Define your scaling objectives and create a roadmap to guide your journey. Having a clear vision can make change seem less daunting, as it’s linked to a larger purpose.
4. Celebrate Small Wins – Acknowledge and celebrate incremental successes to build confidence and demonstrate that change can yield positive results.
Work on Yourself to See the Results in Your Business
The importance of a strategic sales mindset cannot be overstated. It’s the compass that guides your business through the complex economic and industry landscape, helping you adapt to change, plan for long-term growth, and price your services or products effectively. Your mindset is the foundation upon which your business’s future success is built.
Scaling your business in a dynamic industry requires a commitment to change, a shift in focus from the short term to the long term, and an open-minded approach to pricing. With the right mindset, the possibilities for growth are limitless.
If you want to develop your sales mindset and crush your limiting beliefs to unlock growth in your business, there’s no better place to start than surrounding yourself with like-minded business owners in our Trades and Construction Master Facebook Group – join for free today!