The billionaire Charlie Munger has a strategy to discover how to be successful called
Inversion.Munger says to figure out how to be successful, first ask what would it take to be unsuccessful. His answer was that sloth and unreliability will lead to failure so by extension, hard work and reliability will lead to success.
We can apply this principle to moving freight as well. What would it take to not improve our sales? What would you need to do to be a substandard Freight Sales Agent? What would be a recipe for failure?
Here’s your Recipe for FAILURE:
- Don’t obtain any new contacts, emails or phone numbers.
- Don’t build your contact list.
- Only send emails, rather than use the phone, if you do make any contact.
- Believe that your customers will stay loyal and always work with you.
- Only service the current customers that you have.
- Coast and rest on what you have.
When you produce this way, you’ll eventually have:
- Few or zero loads moving
- No growth in your sales
- Unpaid bills sitting on your desk
It’s that simple!
The good news is that you know these actions WILL lead to failure. When you do the opposite, however, you’ll move away from failure and to success in your freight sales profession with us.
Here’s your Recipe for SUCCESS:
- Obtain three new email contacts and three new phone numbers every day.
- Call 10 prospects every day.
- Add to your contact list every day.
- Use the telephone as much as possible rather than just sending emails.
- Be aware that your customers will eventually leave at some point, so prepare by adding to and diversifying your contact list.
- Send out the weekly email, to your contacts, that Ted sends to you every Monday.
Remember, this is a minimum. IBM had the highest sales force in the world some years ago. Surprisingly, their agents also had the lowest quotas. How could the largest sales force also have the lowest quotas?
The reason was that the low quotas made it easy for their agents to get started making sales. Once they hit their quota for the week by Tuesday, there was no pressure and they could speak freely and in a relaxed fashion during sales meetings.
Ten calls a day and 3 new contacts a day is a minimum. Want to get ahead faster, then:
- Make more calls.
- Contact more new prospects.
- Diversify your contact list.
Following this Recipe for Success isn’t just for when you’re not doing as well and moving as much freight as you would like. Continue following this Recipe for Success even when you don’t have to. So when the down cycle comes, for example in December which is typically a slow month in the freight sales industry, you’ll be so well prepared with your large and prosperous contact list that you won’t feel any strain. It’s just like Sun Tzu said,
Prepare for what is hard when it is easy.
When you’re in a down cycle, it’s just as important to keep following this recipe. During these times, diversify your contact list. Just as you wouldn’t invest all your money in the stock market in just one stock or bond, don’t put all your hopes of moving freight on just a few prospects.
Getting three new contacts a day is increasing the investment you have in this industry. When you do this, the result is simple: you make more sales and achieve your goals faster.