"HOW TO SELL AND MANAGE IN TOUGH TIMES AND TOUGH MARKETS"
PETROLEUM EQUIPMENT INSTITUTE CONVEX
ORANGE COUNTY CONVENTION CENTER, ORLANDO, FL. OCTOBER 7, 2002

In tough times, 25% of businesses fail, 70% survive, and 5% thrive. Some thrive on the challenge and others thrive in the heat of battle.

In tough times, half the battle is in your head and half is on the street.

Attitude drives behavior, so we're going to focus on that.

Since 1854, we have had 32 economic slowdowns. The average contraction is 1 1/2 years. The average expansion is 3 years. Since 1948, the average contraction is 9-11 months and the average expansion is 4 years. That means in this country we spend 80% of our time in good times.

70% of today's CEOs have never led a company out of tough times. 60% of sales people have never sold in a recession. We have the blind leading the blind. Is it any wonder we're struggling just a bit?

96.5% of companies report that at any given time 25% of their salespeople are in a comfort zone. In 2001, 16% of salespeople hit 90% or more of their quota.

Every person who enjoys success over the long haul has emerged from some position of adversity — either personal or professional — and has risen above it. They have found something within themselves.

When you get in the field, reassure the sales force that it's not just them. Others are feeling the pain and dealing with the same problems.

Switch to activity-oriented goals over productivity goals. Call numbers, demonstration numbers instead of dollar goals.

Manage like there will be a tomorrow.

Don't cut your culture. You'll be non-competitive in the future.

Focus on the moment and focus on what's going to happen six or 12 months down the road. The economy will be good again.