CEOs who sell
hate wasting time, so they target the people and groups most likely to buy from
them. Wasted time in the sales process adds to the cost of sales and extends the
critical time-to-revenue benchmark. Bob Palmisano, CEO of MacroChem, a
transdermal drug delivery company in Lexington, Virginia, learned about
targeting ideal prospects early on at Bausch & Lomb, Playtex and Mobil Oil. "You
must figure out very quickly how you fit in with a given prospect," he says.
"You must back away quickly when what you have doesn't fit what they need."
In addition,
CEOs who are successful in sales have no qualms about calling another
organization's top person to find out whether there's a potential fit between
their respective companies. That means you should be willing and able to do the
same. It's also helpful to identify all the sales that are taking too long to
close. Go ahead, pick up the phone and don't be shy-you'll quickly find out
what's taking so long and speed things up in no time.