Selling a Black Card in a Recession

If you are familiar with the world of on the go business travelers, you know about the top secret, select few black credit cards in circulation. A few credit card issuers selectively distribute these cards to members who spend upwards of one million dollars per year. The services, benefits, and privileges that accompany these cards (for a heavy annual fee) are too plentiful to list and unique to make a case. To summarize: If you need tickets, an upgrade, or an exception – you’re good. I know – I hold one.

However, it is difficult to envision existing card issuers upgrading present customers to this privileged status. It is even more trying to imagine opening up a new market for fresh black card accounts.

Until this week.

I saw the advertisement with my own eyes. First, in the USA Today. Then, in Fortune. Finally, on its own web site – www.blackcard.com. “The Black Card is not for everyone,” the copy reads. “In fact, it is available to only 1% of U.S. Residents to ensure the highest caliber of possible service is provided to every Cardmember.”

U.S. stock markets are losing, unemployment is increasing, deflation is a concern, out-of-this-world deficit spending is on the way – yet here is a company daring enough to sell in challenging times. I like them already. This is an elite group, much like The Elite One Percent™.

It is achievable to, not only survive in grueling economic times, but to flourish. After all, the world has never come to a complete economic end. There may have been gaps here and there, but they lasted only as long as it took someone to get creative and figure a way out of it. This kind of thinking, selling, and leading can sell a Black Card in a recession. It can also position you, and your company, to prevail.

If you buy into the ghastly news, you will have a harsh time during exacting times. The sky is falling and we have a Chicken Little in every pot (with apologies to President Franklin Delano Roosevelt). As a substitute, if you center on what is authentic with your business and industry, you can soon come up with resourceful ideas for how you will continue to acquire and secure business. You will find that more clients are attracted to you because you are doing something. You are not on the sidelines crying, “Woe is we!” and waiting for a bailout, stimulus check, or slice of upbeat news.

In business, the economic climate always changes. Most of the time, the changes that take place are caused by external aspects beyond our control. Having better trained salespeople than your competitors is the definite way to gain an edge. They can sell a Black Card in a recession.

Now, we can choose to move along with the 99 percent who:

• Want a sales and service culture, but without the sales because “our customers don’t want to be sold to.” I’m lost on that one.
• Tighten our belts and live on less. You would be flabbergasted how many companies notify me that training budgets are the first to go when times get tense. Their poor customers.
• Blame “the economy” and never make a decision to increase their business when the time is so ripe. Yeesh.

The test for many companies and salespeople is that they have a tendency to let themselves become inept in excellent times. They see all of the great commerce they enjoy today and fail to tend to yesterday’s customers or load tomorrow’s pipeline. When times get tough, it’s hard to buckle down and become more effective. The competitive edge is gone.

While some run of the mill salespeople are suffering despondently because of their past activity (and inactivity), bona fide professionals – the ones selling Black Cards in a recession – are taking the hit another way. Companies and professionals focused on winning, in good times and taxing, never cease in their allegiance to sales, service, and relationship training. When sales opportunities are in short supply, you need professionals – not amateurs who obtain training only when the budget is reevaluated.

It is feasible to thrive during tough times. Salespeople – the groundwork for free enterprise – must take the lead and work for the best interests of their customers. This means keeping sales skills astute.

And being bold enough – and properly skilled – to sell a Black Card in a recession.

 

 

Play to Your Strengths, Practice to Your Weaknesses

Marcus Buckingham – speaker, consultant, and author of The One Thing You Need to Know – declares that if we wish for excellent management skills, magnificent leadership abilities, and continued individual achievement, we should stick with strengths – personal, individual, and team. He’s correct. To review his thoughts:

1. To stand out as a manager, we must never stop thinking about that each of our direct reports is distinctive and that our leading task is not to stamp out this individuality, but rather to put together roles, responsibilities, and expectations so that we can get the most out of it. The more we refine this talent, the more successfully, we will turn talents into accomplishment.
2. To do extremely well as a leader requires the reverse skill. We must become proficient at calling upon needs we all share. Our universal desires include the need for safety, for influence, and for value. But, for us leaders, the most prevailing collective need is our requirement for lucidity. To change our fear of the unidentified into assurance for the future, we must discipline ourselves to express our shared future vibrantly and exactly. As our expertise at this grows, so will others’ support of us.
3. And last, we must keep in mind that our lasting accomplishment depends upon our power to cut out of our working life those actions, or people, that pull us off of our strength’s course. It is our – not our manager’s – duty to make the slight, but important, course adjustments that permit us to maintain our maximum and finest. The more skilled we are at this, the more appreciated, satisfied, and flourishing we will become.

However, let’s not overlook weaknesses. Geoff Colvin, Senior Editor at Large for Fortune, recently wrote the book Talent is Overrated. Strengths are without doubt important, but what actually separates world class performers from everybody else? Attention to weaknesses. In particular, deliberately practicing what we’re not good at fueled by built-in drive. Talent – strengths – is indispensable, but single concentration leads to contentment, predictability, and revealing.

Colvin uses the example of Tiger Woods and golf. Tiger Woods, habitually, in his practice will work on shots that he experiences once per season. He will repeat hitting a buried ball out of a sand bunker; Out of three feet of tall grass; Out of two inches of water; and, Off of the crack of a paved walkway. Why? Because he already knows how to hit the ball off of a mowed fairway. It’s the unusual incidence where his practice out of a buried lie allows him to save par when his competitor(s) record two or three over. That’s deliberate practice for when he’s called on to master his weakness.

Let’s add deliberate practice to Buckingham’s discovery and focus on strengths.

1. As managers, conceivably the individualism of our team members causes contention between two team members. It’s easier to make sure the two do not sit on the same committees or share projects. But, what if we intentionally put the two on an assignment with a shared deliverable? When the time comes for them to work as one – perhaps on a critical project – they will have practiced, maybe sharpened, their capability to work together.
2. As leaders, possibly helping our team members make out a bigger picture about their job, your job, and your enterprise is easier said than done. We all have work to do and only so many hours to do it, right? However, when people recognize why they do a job and what it adds to the enterprise’s worth, their engagement levels increase. What if we deliberately practiced explaining what happens after transactions are processed or reports are developed? They may better understand their place in your business and how they do help to make it profitable.
3. As individuals, perhaps managing the distractions of our day keeps us from completely using our strengths. We must answer the telephone. We must reply immediately to email. We must welcome all drop-by meetings. Or we don’t have to. Try this: For one hour each week, do not answer your phone, email, or door. Just work on your list, the one in step with your strengths. When you have mastered one hour each week, try it twice each week. Work up to once each day. You will hit upon that you have deliberately practiced your weakness in order to focus on your strength.

Play to your strengths, practice to your weaknesses.