To succeed in business, you need to master 3 vital areas: management, marketing and sales. In this book, Chet Holmes breaks down exactly how to do that with 12 proven strategies which he himself used to build various businesses and to train business owners and employees. In this free version of The Ultimate Sales Machine summary, we’ll briefly outline the 12 management, marketing and sales strategies in 4 parts. Feel free to get more details in our complete book summary bundle in text, infographic and audio formats.
The Ultimate Sales Machine: An Overview
In our summary, we’ve organized the key insights into 4 parts: management, marketing, sales and operating your ultimate sales machine (USM). Anyone who’s involved in sales, marketing and/or running a business/team could use these ideas to improve their results.
Part 1: Management
Every company has finite resources. To build an effective organization, you must gain control of your time, maximize your productivity, and help your team to do the same. Holmes breaks this down into 4 key strategies:
Leaders can save time and multiply their impact by focusing on key impact areas (areas that directly affect the bottomline) rather than try to manage every ad-hoc issue that comes up. Holmes also recommends 6 steps for great time management to apply in your whole organization to drastically improve your productivity. [Do get more details in the book / our full 17-page summary]
Reprogram your Organization with Effective Training
Most people won’t actively seek to improve themselves unless it’s a job requirement. To ensure your team performs well and constantly improves, make continuing education mandatory. Holmes shares a list of tips you can apply to make your training more effective.
Use “Workshop Meetings” to Improve your Company
To grow a large company, you must be able to hire 50 new people in a week and help them perform at their peak quickly. Structured workshop-style meetings—where you jointly work with your staff to develop ideas to improve your business—are one of the best ways to concurrently train people and improve your business. In our complete 17-page summary, we explain (i) what are workshops and how to run them effectively and (ii) the 10 steps to implement a new policy effectively.
Hiring and Managing Superstars
As an employer, you must be able to attract and manage top producers. As an employee, you must know how to be a top producer. Whether you are a 1-man team or a large corporation, it’s possible to attract superstars–the right people can turn around a bad situation, outperform all your staff and deliver results beyond all expectations. In the book / full summary, we break down the detailed steps and tips on (a) how to attract superstars (including how to advertise and pre-screen them), b) how to identify and select top producers (including the 3-step interview process and questions to filter out the right people and (c) how to manage and retain your top people.
Part 2: Marketing
Tactics are solutions for short-term gains while strategies are well-considered plans for long-term goals. To be a great strategist, you must see the big picture and implement the strategies at the tactical level.
One of the biggest challenges in business is to catch and retain the attention of your prospects. The “buyers pyramid” helps to look at your market strategically. In a nutshell, at any one time, for any product or service:
(i) 3% of the market are buying now;
(ii) 7% are open to the idea of buying; and
(iii) 90% are currently not interested in your product: 1/3 are simply not considering it, 1/3 are not interested, and 1/3 are strongly disinterested and want to stay with status quo.
Most businesses focus only on the first 2 categories when it’s more strategic to concurrently nurture the other 90%. In our full 17-page summary, we’ll look at how exactly to do that, including (a) why you should focus on market data instead of product data, (b) how to use education-based marketing to “reset” customers’ buying criteria, and (c) how to define your “core story” and find your “smoking gun”.
Master the 7 Marketing Essentials
In our full version of The Ultimate Sales Machine summary, we elaborate on the 7 key marketing tools you’d need to build your Ultimate Sales Machine. Identify the ones that will give you the best returns on investment, run workshops with your team to master these tools and keep finding ways to incorporate your core story.
Part 3: Sales
Rather than leave your sales process to the whims and fancies of each salesperson, you can perfect your sales engine together with your team and build it into your organization’s DNA so it can run predictably even without you.
Getting your Ideal Buyers
For any product/service, there’s always a small group of ideal clients who will buy more, and buy more frequently, than all other clients. Identify who these buyers are–this is the fastest and most cost-effective way to grow your business.
The 6-Step “Dream 100 Strategy”
Use these 6 steps to secure your ideal buyers. In our complete summary, we’ll look specifically at how you can find these buyers, catch their attention and get your core story in front of them.
Mastering your Presentations
Use the dos and don’ts in the book/summary to make sure your presentations are effective.
Perfecting your Sales Engine
Get your entire team to master the 7 steps of selling and 10 steps to great follow up. Use workshops to teach, practice and perfect the processes, and get your team to memorize and practice them until they are ingrained in their “subconscious competence”.
Part 4: Operating your Ultimate Sales Machine
While these ideas are powerful, you must actually implement them to see results. Holmes emphasizes that you’ll build a real sales machine only if you apply “pigheaded discipline” and persistence to master all 12 strategies. This means applying them and refining them over and over (and over and over) again until it becomes second-nature to you and your organization.
The last strategy involves putting the various strategies to use, identifying the measures of effectiveness for your key goals, tracking them and rewarding performance until these are part of your organization’s DNA. You can use the same approach to train yourself to naturally focus on opportunities around you, by focusing your mind on success and keep demanding your brain to find solutions.
Other Details in “The Ultimate Sales Machine”
This book is packed with resources and detailed examples to help you understand and apply the strategies outlined in this summary. These include:
• Examples, scripts and tips for workshop training, recruitment, interviews, advertising/marketing campaigns, pitches, letters and follow-up;
• Stories and anecdotes from a wide range of businesses, based on Holmes’ and his clients’ experiences; and
• Exercises (including reflections, assessments etc.) to help you apply and customize the tips for your business.
Start building your Ultimate Sales Machine to grow your business and profits sustainably!