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When it comes to hiring and recognizing great salespeople, the speaker emphasizes the importance of selection over training. They share personal experiences of realizing that exceptional salespeople have a natural talent that cannot be taught. The speaker suggests that finding great salespeople is more about selecting individuals with inherent sales skills, rather than relying heavily on training to turn average salespeople into exceptional performers. They compare this concept to the selection process of institutions like Harvard, where the base level of intelligence and talent is already exceptionally high. By focusing on selection, businesses can save time and resources by starting with individuals who have a higher base level of sales capabilities.