Anthony Quaranta, The Q GroupWhen speaking with some clients a while back, I got to thinking how many feel that things are going well in the market with regard to real estate and business growth. Yes, challenges remain, but overall we’re doing much better than we were back eight or so years ago when the housing bubble burst, as did our economy and job market.
Soon we’ll be saying farewell to 2016, and, a New York City real estate developer and entrepreneur will become this nation’s 45th President and occupy its most influential office. At first blush, that seems fairly positive for our market. But, then again, no one can yet be certain what this means for other developers, investors, renters, foreign markets, etc. So, some doubt is starting to creep back in.
As the ever-focused sales person that I am, I’ve been reflecting of late on how we consult with and manage our clients during either robust or uncertain economic times. When everything is going strong and markets are healthy, it’s easier to help our clients visualize their daydreams and their long-term goals. Obviously, when the opposite occurs, they fear the bottom is going to drop out, so it feels like less and less of a solid foundation upon which to build a dream.
However, in good times and bad, always remember this constant: your clients are entrepreneurs. A dedicated entrepreneur is always thinking and envisioning markets that may be down the road. And it’s that entrepreneurial spirit that allows them to take the chance to invest in a property, a product, a piece of equipment, or a service that can help them make more money. So be sure to always spend time helping clients visualize their dreams, and help them transition those dreams into lucrative achievements.
During good times, discussions about furthering business growth by uncovering new opportunities are critical. As a market-savvy salesperson, you can serve as a trusted middleman and investigate who might be looking to be acquired. Or maybe you know of a key industry influencer who wants to advance. So recommend ways your clients can grow through acquisitions or strategic hiring opportunities. You can even re-purpose yourself as the dealmaker, creating even greater value and trust in your client relationship by becoming an integral part of their decision-making process.
And what’s our role during hesitant or soft times? First and foremost, keep your attitude in check. Thriving in tough times can be challenging, but the rewards are well worth it. I read a study that showed that on average optimistic salespeople sold thirty-seven percent more products and services than their less-optimistic colleagues. But being optimistic doesn’t mean you become oblivious to what’s happening around you. Engage with your clients, remove the clutter of negative thoughts (including their obsession with them) and provide helpful advice, seasoned insight and recommendations. Talk about the possibility—and the promise.
During more challenging times, we also should look for ways to maintain consistent, on-going contact with clients utilizing the communication tools they prefer (e.g., social media, email, phone, etc.). We should also coach them to ensure they turn over every stone which includes providing as much service as possible, including aftermarket services. These value-added benefits don’t necessarily require a large investment, but they almost always protect an investment that’s already been made.
What’s more, value-added services often enable us to earn some extra revenue even if large contracts or capital equipment purchases aren’t being executed during a particular time. They are typically promoted when business is on the upswing and when a client chooses to invest further in a capital equipment purchase in order to keep it functioning. Take some time to service those contract items that may appear to be a little bit of luxury at other times, but are now viewed as very prudent business decisions. After all, maintenance protection helps improve performance and minimize downtime, thereby maximizing expectations no matter the economic climate.
As someone who has sold for some time, I know that regardless of the industry, there will always be challenging and difficult periods—as well as highly profitable rebounds. Which is why you alone must project success each and every day, no matter the circumstances. Make your professionalism, your industry know-how, and your trust a certainty your clients can always count on. Become an invaluable asset to them, independent of the times we’ll experience together.
That’s Q from the street.
Anthony Quaranta is the president of The Q Group, Hauppauge, N.Y.
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