“Someone Else Is Fishing In Your Pond!”

A few days ago, while driving down a city street in Houston where there was no sidewalk, I was intrigued by a well-worn path in the grass along the side of the street. The path was completely obvious to anyone who might want to walk through the grass, but it was apparent that the pathway was not always there.  It was not as wide as a sidewalk, but at most, about eight to ten inches wide. At some point along the way, someone chose to walk that specific path even  though it was not clearly marked.  It was apparent that the only way it could have ever been created was that hundreds of individuals, each without ever being told to do so, chose to walk the exact same path as those who came before them. In a way, it just happened.

After contemplating this idea, I began reflecting on my childhood, growing up on a small farm in Tennessee. My father owned a few cows that would spend their days in a pasture that covered several acres. These cows, with no prodding from anyone would, over time, carve out a similar path from the pasture to the barn. Each followed the other until there was no doubt as to how the cows would move from a particular point in the pasture to the barn at the end of each day. The path was usually no more than one foot wide, and a few inches deep, carved out by the continual traffic of the cows. There was not necessarily any logic to the path they created, but it became logical to use that path once it was firmly established.

The task of managing Account Executives for most Sales Managers is a rewarding role, but not without its frustrations. Not long ago, the owner a very successful company called to ask my opinion about sending an individual to attend our sales training who had already been selling for several years. The observation I made was that, “Not only can old dogs be taught new tricks, but most old dogs need to be taught new tricks.” All of us are creatures of habit, and as a general rule, this works to our advantage, but at times, can also work to our disadvantage.

Without ever realizing it, most Account Executives will develop an approach to their job that parallels the two illustrations given above about how paths are created, unintentionally. As a result, most Sales Managers will be continually challenged in their role to make sure the individuals who report to them continue to improve, such that they are able to perform at their optimum level.

Realistically, many Account Executives have carved out paths in the firms to which they have been assigned, i.e., paths to the individuals who buy from them, that cause them to continually miss out on opportunities to develop new buyers. It is certainly not their intention to do so, but it is often the unfortunate reality. In many cases, the Account Executive’s success is diminished as a result, either by stunting the growth of their active client base or stopping it completely.

“…a Sales Manager might be surprised to learn of several firms where no path has been established yet. The Account Executive is continually skipping some of the firms...”

The company that employs the Account Executive in this illustration will undeniably suffer as a result of the employee’s action (or inaction).  The company’s only avenue for creating additional business from targeted firms is directly linked to the Account Executive’s ability to bring new clients onboard. It is very common for an Account Manager to resist their company’s effort to remove an unproductive firm from their list and give it to someone else, even when no business has been generated with that firm for a twelve month time period, i.e., “I am working on some possibilities that just haven’t materialized yet.” In other words, even though the Account Executive has failed in their effort to secure productive clients within a firm to which they have been given rights, they will often resist their Sales Manager’s desire to reassign the firm to someone else.

In fact, if an Account Executive’s list of firms was given close scrutiny, a Sales Manager might be surprised to learn of several firms where no path has been established yet. The Account Executive is continually skipping some of the firms to which they have been assigned. One of the most common reasons for this behavior is that Account Executives will, over time, migrate towards booking appointments with buyers with whom they are confident. They will simultaneously develop a pattern of ignoring or overlooking a buyer who is one, two, or three levels up from where they have, “Carved out their path.”

“Most of us will migrate to doing the things we believe will bring us success, and we find ways to avoid engaging in activities that we believe will lead to failure..”

For example, an Account Executive might be comfortable scheduling an appointment with a Paralegal, but not as comfortable scheduling an appointment with an Attorney, a Partner, General Counsel, Lit Support Coordinator, or Lit Support Manager, etc. One reason some Account Executives steer away from buyers who are on a higher professional level is that they may have tried at some point to target this advanced level of buyers, and their efforts were  largely unrewarded, i.e., they were suddenly out of their comfort zone, and ineffective. In many instances, one of the reasons for an individual’s failure in targeting a higher level of buyers is that they may have used the same approach that worked for them with a Paralegal, and such an approach proved ineffective with the buyer who was more sophisticated, i.e., higher on the food chain.

There was a time when losing a project or a case to the competition meant that another competitor in your market had won and your company had lost. Those days are long gone. We have entered a time when you can now lose a case in your market to a competitor that is 1000 miles away. In fact, it is possible to lose a major project to a competitor from completely across the country without ever even knowing the project was in play. It may be that the only time you hear about the project is after it is long gone. Why does this happen; how could this happen…it is because a competitor has carved out a path to a buyer that may not even be on the radar of your Account Executive. It brings new meaning to the expression, “Someone else is fishing in your pond.”

“…they may have used the same approach that worked for them with a Paralegal, and such an approach proved ineffective with the buyer who was more sophisticated, i.e., higher on the food chain.”

To assist Account Executives in their effort to target additional buyers in their firms, especially more challenging buyers, the Sales Manager’s willingness to provide guidance is vitally important.  A Sales Manager can provide information on how to alter the approach toward the buyer, how to set the initial appointment with the prospect, and follow-up. Most of us will migrate to doing the things we believe will bring us success, and we find ways to avoid engaging in activities that we believe will lead to failure. This behavior is as basic as it gets, and is tied to a, “Sense of self preservation.”

If the idea of gaining additional market share is on your list of priorities, it is a given that your Account Executives will need to either increase their activity level, or their effectiveness…or both. If you would like us to work with you to develop a template your Account Executives could use to target buyers they may have been consciously, or perhaps unconsciously, skipping, we would be willing to do so. All you would need to do is give us a call so we could discuss what level of buyer(s) you would like to target. We will work with you to develop a targeted approach for your Account Executives, and we would do so for no fee at all. In other words, “For free”…just give us a call.

We have never seen a time when the legal services market place was more competitive, where there was more downward pressure on pricing from the competition, and when the need to evolve your technology offering was more crucial that it is at this point in time. The key to thriving in such an environment is to make absolutely sure your company is staying relevant with your clients’ needs and demands. Every presentation your Account Executives make to prospective buyers either elevates your company’s image in the market place, or it diminishes it.

“We have entered a time when you can now lose a case in your market to a competitor that is 1000 miles away.”

We can help you make sure your company’s image is elevated every single time your Account Executives book an appointment, makes a presentation, or follows up with someone with whom they have met.

Our website will always list the dates for the next three Sales Training Classes. under “Training Schedule.”  
Let us know if you have Account Executives you would like to register to attend one of the upcoming classes, or if you have any questions about the specifics of this Sales Training Course, the Sales Management Retreats, or our Placement and Consulting Services, give us a call at 1-800-929-8740.  We look forward to hearing from you!