Step Two in our series of steps to becoming a B2B sales superstar is about Business Acumen. Many people ask, ” what the heck is business acumen?” Well, it’s a term used regarding your knowledge of business philosophy and how organizations survive or thrive. It all about understanding exactly how a company makes money. So how does business acumen impact a sales person’s success?
In the world of business to business (b2b) selling, it is one of the most critical factors for success. How well can you place a financial value on your product or service solution? Also, Return on Investment (ROI) is used by the customer as a tool to make a buying decision.
During a sales development workshop I was presenting, one of the top sales people in the room suddenly realized that his customers had been asking him for ROI assessments so the finance guys would sign off on several large contracts. Having come through the traditional sales ranks, he didn’t realize the importance of business acumen – the ability to figure and show financial results to a customer – for larger or major sales.