Warren Buffett is one of the most successful entrepreneurs of all time. Here are three priceless sales takeaways from his keynote address at Berkshire Hathaway’s 2009 shareholder’s meeting:
- “If you need to use a computer or a calculator to figure it out, you probably shouldn’t buy it.” A lot of sales organizations are rethinking their message and peppering prospects with charts and graphs that demonstrate long-term ROI. But most prospects just want a plain-English explanation of how you can help them cut costs or increase profits. Break it down. Keep it simple — it’s the only way to keep buyers engaged.
- “You don’t want to be in a position where someone can pull the rug out from under you (or where you pull it out from under yourself).” Competitors are more aggressive than ever right now, eager for any chance to swoop in and steal away your buyers. Be sure salespeople maintain regular contact with customers, so issues are resolved quickly and they’re the first to know when someone else is trying to steal a customer’s business away.
- “You’re not there to change people.” The selling process should always be less about your products and services, and more about the buyer’s needs. Find out where the pain is, and offer solutions that alleviate that pain. Remember, it’s a buyer’s market. And most buyers are inclined to do business with the salesperson who best understands their needs and can help them overcome their challenges.
So what do you think? Is Buffett on target or preaching old-school tactics in a shifting market? Share your thoughts in the Comments Box below.
Source: “A Back to Basics Weekend With Warren Buffett,” by Andrew Ross Sorkin, New York Times