Business acumen: a skill that can help your employees think like owners, align your workforce, and develop your leaders. It can also increase the skill of your sales people. Let’s face it: selling isn’t what it used to be.
Previously, in order to close a sale, sales professionals built a relationship, diagnosed needs, translated product features into customer benefits, and asked for the sale. Not anymore.
Selling has evolved, and your sales professionals need business acumen to win more sales. You should think of business acumen as the competitive advantage. Today, sales professionals have to earn the trust of their customers. A big part of that trust is care.
“If you are not taking care of your customer, your competitor will.”
Here’s how business acumen can increase the skill of your sales teams:
- 1.) It helps them see how their customer’s business works. Successful sales personnel possess keen insights into their customers’ financial and strategic issues, allowing them to employ that knowledge to align their solutions to real needs. Business acumen prepares sales professionals and sales teams to confidently and credibly position products and services and gain a competitive edge.
- 2.) It helps them see how their own business works. Knowing the impact and importance of sales forecasting and price discounting on the company’s financials is important. Business acumen provides a lens into how individual decisions and actions impact their own organization’s financial success.
- 3.) It allows them to empathize with their customer’s. Sales professionals are now expected to become trusted advisors who can work alongside customers to improve their businesses. Business acumen allows sales professionals to cultivate and maintain a business partnership, truly understanding the customer’s landscape.
Armed with business acumen, a salesperson can find ways to make positive changes in the customer’s financial picture—and in the seller’s position too.