Sales Proposal Executive Summaries: Don’t … Unless

Your proposal can make or break your sale. It can get you in to see the customer or keep you out. When you do include an Executive Summary in a proposal, it’s the first thing most customers read. More importantly, it may be the only thing executives/key decision-makers read at all. Executive Summaries establish that all-important first impression. They can draw customers in — or turn them away. Unfortunately, many Executive Summaries are neither a summary nor executive. To maximize the best of an Executive Summary:

#1: Keep It Short

 Most Executive Summaries that I have seen defy the definition of a “summary.”

 Any summary is a condensed form or brief statement of main points, and that applies ten-fold to Executive Summaries. They must be brief but also provide substantive but not detailed coverage of all the key points covered throughout the proposal. Not only is this likely the only part seniors will read, it gives all decision makers the big picture.

An Executive Summary should show your customers how well you understand and are prepared to meet their business needs. It should spur them to want to go further.

Ideally, Executive Summaries are two pages maximum. Keep the focus on the customer’s strategic objectives and, in broad strokes, position what you will do to meet each objective.

#2: Focus on Your Customer, NOT You

 It’s easy to describe yourself and all your qualifications, but that’s not the way to start your Executive Summary.

 Instead articulate how you understand the customer’s business needs. Outline the key ways in which you will meet them and then expand on that in the proposal and outline the key ways you will meet them, which you expand on in the proposal.

Write your Executive Summary LAST, drawing from all the key sections. In the Executive Summary, help your customers’ think “This salesperson gets us.” In the process, make sure the customer “gets you” but only in an overview in the context of solving business problems and achieving objectives. Make sure what you included takes into consideration the customer’s strategic goals and make the connection.

Example:
We are privileged to be considered as your partner to support you in ______ (identify the customer’s strategic objective). We feel uniquely qualified to partner with _____ (name of prospect/customer) based on our _____ (capability) to _____ (outcome customer wants) — then key objective by key objective, show you get it and are the best one to deliver it. Focus on each of the customer’s key objectives and differentiate yourself by tying in your capabilities related to the customer’s objectives.

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Being Invincible

This past Wednesday and Thursday, October 13-14, 2010 Richardson held our 4th annual Client Forum the Sofitel Hotel in Philadelphia. It was an exciting day with over 75 clients, partners and staff in attendance. The primary theme was how a high impact learning culture is a proven business driver in today's changed business environment. David Mallon of Bersin & Associates and Peter Ostraw of Aberdeen Group were the key note presenters. Both David and Peter shared insights, data and practices that support the notion of how an organization's culture impacts business results in a direct and predictable manner. Numerous clients, including Mary Slaughter, CLO of Sun Trust Bank shared best practices and success stories of how they transformed their sales cultures to positively impact results and differentiate their organizations from the competition. On Wednesday evening our dinner reception at Amada was a great time, with our guest speaker Vince Papale, former Philadelphia Eagle and subject of Disney's movie "Invincible," inspiring the group with his heart felt and brutally honest words. His authenticity was evident to all. Vince spoke of his incredible million to one odds of making the NFL team's roster as a 30 year old unemployed school teacher who had played only one year of high school football.

I was particularly moved when Vince spoke of the moment he was standing on the field in Veteran's Stadium in 1976 for the "open to the public" try out with hundreds of others, all with the dream to be a Philadelphia Eagle. He shared with us that he wanted when given this opportunity, he wasn't going to waste it. He certainly didn't! What struck me was how relevant Vince's comment was to those of us in business today - when given the opportunity to succeed, be sure you seize it!

I believe that in order to seize your opportunity in today's environment, you must extensively prepare to succeed and when your chance to shine arrives, be sure you remain authentic (i.e be yourself), demonstrate your knowledge of your client's needs, show your conviction to your client's success and let none of your competition stop you. In other words, be Invincible.

I'd like to thank each of our clients and prospects for your commitment to Richardson, your attendance at this year's event and for your participation and contribution. Hope to see you all again in Philadlephia again next year.

Richardson Releases 2010 Sales Challenges Research Report

Richardson has released our 2010 Sales Challenges Research report, Lift Off: Compelling Insights to Launch Your 2010 Strategy.

To better understand the primary areas that a sales team should focus on in 2010, Richardson’s Research Group conducted a survey of over 15,000 sales professionals across every major industry segment and a variety of sales roles. Leveraging this survey data, Richardson developed a report that highlights the most pressing issues facing sales organizations in 2010 and provides data that helps Sales Leaders to:

• Shape business development and sales strategy
• Identify process improvements and align skill-development resources
• Strategize how to best position your sales team for success

Through careful reflection of their 2009 business outcomes and in anticipation of a more successful 2010, survey respondents provided insights and information that was aggregated to identify areas of focus for this upcoming year. When asked about potential challenges concerning five key sales cycle categories — generating business, negotiations, closing business, managing relationships, and expanding relationships — survey respondents indicated, as a percentage basis, the following as the most difficult in each category:

• Business Generation — Identifying new prospects — 26.3% of the respondents
• Negotiations — Maintaining profitability during negotiations — 27.9% of the respondents
• Closing Deals — Positioning competing value propositions — 32.0% of the respondents
• Account Management — Finding additional ways to add value — 38.5% of the respondents
• Expanding Relationships — Becoming a Trusted Advisor — 36.5% of the respondents
  

Lift Off: Compelling Insights to Launch Your 2010 Strategy research report can be leveraged by Sales Leaders to identify for their own sales teams the one or two areas where a significant investment of time, effort, and resources can be deployed to develop critical skills and improve crucial processes. By addressing both skill and processes, Sales Leaders and their teams will be better poised to deliver results in 2010.

Lift Off: Compelling Insights to Launch Your 2010 Strategy is complimentary and can be obtained by visiting the following: http://www.richardson.com/saleschallenges2010/.

Goal #1: Shorten the Sales Cycle

Last week in a webinar with a group of high-performing salespeople and technical specialists, a salesperson asked:

Salesperson: “My company’s number one goal is to shorten the sales cycle. How can I do that?”

His question was timely and challenging. It seems as if your customers’ number one goal is to lengthen it! The economy and an environment of heightened skepticism have doubled or even tripled the length of the sales cycle in many industries.

So what can you do that is in your control to accelerate the close?

1. Early on, qualify more diligently. Position every qualifying question from the perspective of meeting the customer’s need. Find out:
   
   - Budget — Has it been allocated? How much? Who controls it?
   
   - Time Frame — What are the timelines to develop and implement? (In today’s world, the two schedules can be very different.)
   
   - Compelling Event — “Must do” dates are a blessing and the absence of one can signal a long decision cycle.
   
   - Decision-making Process — Who will be involved in the decision — economic, technical, users, and other influencers? Clarify the buying process and steps.
   
   


2. Understand the BUSINESS need that your solution will address. How will your solution help your customer achieve his/her business objectives.
   


3. Develop a compelling Value Proposition to show ROI (ideally year one or soon).
   


4. Identify milestones of the sales process so you can measure progress against them.
   


5. Set a call objective that is measurable for every meeting — face-to-face or virtual. And debrief each meeting against the objective.
   


6. Continue to check for change.
   


7. If things slow down, ask the hard qualifying questions again, but start with the driving need — is it still a priority? Tactfully ask questions to multiple customers.
   


8. Develop a coach! Almost nothing will help you win the deal and know where things really stand than a well-placed coach.
   


9. Position your benefits and ask for the business.
   


10. Know when to put a deal on the back burner or no burner and when to try to resuscitate it.