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18 January 2012, Calvin Yeo
Death Of Sales (Part 1)
Death of Sales is about the inept of companies and the over-reliance on sales personnel to propel their business. Over the years of experience in the financial industry I have seen, experienced and understood that if companies want to be successful in the current economic climate they need to move away from conventional sales force and move into more lean and dynamic distribution channels.
I was once an arrogant sales high flyer in my previous defunct company. It was defunct because the acquirer knew what they were doing. They first acquire our company as a whole and then they went on to sell the sales force. I was thinking then, "What? They must be mad, selling the only lifeline to their business, Us". Little did I realised they were absolutely brilliant.
They sold the entire sales force away and outsource the sales channel to a local bank. This they did not have a sales force to feed. All they did was to distribute fees to the distributed channel. Costs became low that meant they can compete better and roll out more competitive products to the market.
Not only that they manage to distribute their products four times as effective if they were to persist with the original sales force. They not only increased sales four times more, but they could also cut their costs by another 50% by having no sales force.
This lesson taught me that you don't always need a direct sales force to drive your business. You need to be smart to find other distribution avenues to make your company more competitive.
The answer is to leverage on the availability of others and the possibility of a third party distribution channels.
I have since martured and have gone on to distribution sales or partnership distribution. I am learning a lot more in business and how you can be successful without having to feed an entire sales force.
The Death of Sales is definitely a hot topic now and for the future. Watch out for Part 2.
By Calvin Yeo, CFP, MBA, CPT
Author of the book: Death of Sales. This book is to be launch soon. Go to www.deathofsales.com and find out more. Email: yeo.calvin@yahoo.com
Death Of Sales (Part 1)
Death of Sales is about the inept of companies and the over-reliance on sales personnel to propel their business. Over the years of experience in the financial industry I have seen, experienced and understood that if companies want to be successful in the current economic climate they need to move away from conventional sales force and move into more lean and dynamic distribution channels.
I was once an arrogant sales high flyer in my previous defunct company. It was defunct because the acquirer knew what they were doing. They first acquire our company as a whole and then they went on to sell the sales force. I was thinking then, "What? They must be mad, selling the only lifeline to their business, Us". Little did I realised they were absolutely brilliant.
They sold the entire sales force away and outsource the sales channel to a local bank. This they did not have a sales force to feed. All they did was to distribute fees to the distributed channel. Costs became low that meant they can compete better and roll out more competitive products to the market.
Not only that they manage to distribute their products four times as effective if they were to persist with the original sales force. They not only increased sales four times more, but they could also cut their costs by another 50% by having no sales force.
This lesson taught me that you don't always need a direct sales force to drive your business. You need to be smart to find other distribution avenues to make your company more competitive.
The answer is to leverage on the availability of others and the possibility of a third party distribution channels.
I have since martured and have gone on to distribution sales or partnership distribution. I am learning a lot more in business and how you can be successful without having to feed an entire sales force.
The Death of Sales is definitely a hot topic now and for the future. Watch out for Part 2.
By Calvin Yeo, CFP, MBA, CPT
Author of the book: Death of Sales. This book is to be launch soon. Go to www.deathofsales.com and find out more. Email: yeo.calvin@yahoo.com