Ho, ho, me again. Last time we met, we talked about the increasing importance of time, which in fact is the only asset, that is equally shared between all living creatures on earth, including business people. One can’t buy time, neither sell it nor save it and of course not stop it! It just moves on mercilessly. What impact this has had on business can this story tell us;
Back in the 70s, when Dr. Philip Kotler was the marketing guru he established his 5P philosophy, which were:
1) Product 2) Price 3) Place (availability) 4) Promotion 5) Personnel.
His philosophy conquered the world and was more or less used by all selling companies (are there any others?).
As time moved on and its value became even more feared as well as appreciated, a certain Mr. Iacocca (Chrysler) won worldwide reputation for his more aggressive and fast ideas. He meant, that there are only 3P. s, which he explained with this famous phrase “Product, profit and people, where people come first and if they aren’t OK, you can forget about the other two”.
He took this way of thinking into his sales organization, where he identified four different kinds of sales people and how they should be managed.
- Those who reach their goals and share all the company values. These folks should be stimulated and promoted and well looked after.
- Those who don’t reach the goals but share the company values. Support and training should be put in.
- Those who reach the targets but without sharing the company values. Should be fired within three months.
- Those who neither share the company values nor reach their goals – should be fired the very same day.
Conclusion: Make sure that the categories 3 and 4 are dealt with immediately. By doing so you’ll secure the first two categories’ continued success and thereby the whole sales organization’s future. If you don’t, on the other hand, you jeopardize the good people’s respect for you as a boss as well as their respect for the company values with a corresponding fatal outcome.
Ho, ho. Back soon!
Dedicated his full life to business in Sweden as well as in the US, Germany and Switzerland. Also a number assignments all over the world.
Experiences; salesman, sales leader, marketing director, vice president and CEO.