Practical Wisdom from a Highly Rated Financial Advisor, Golf Instructor, and Sales Coach to Help You Win Big in 2024! [Fundamentals Outperform Gimmicks]
Dec 27, 2023
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Mike Weinberg concludes the year with an episode featuring his trusted advisors: golf coach Brian Fogt and financial advisor Jacob Turner. They discuss the similarities between investors, golfers, salespeople, and sales leaders. They stress the importance of focusing on fundamentals instead of chasing quick fixes and shiny objects. Mike shares what he would focus on as a sales leader in 2024. Topics covered include the dangers of pessimism and gimmicks in sales and investing, understanding financial news agendas, and the value of boring fundamentals in investing and sales coaching.
Sales leaders should focus on having the right people, a compensation plan that drives desired behaviors, a culture of accountability, and proactive coaching.
Salespeople should prioritize strategic targeting, continuously develop their skills, embrace accountability, and build strong relationships with prospects and customers.
Deep dives
Fundamentals for Sales Leaders
Sales leaders should ensure they have the right people in the job, a compensation plan that drives desired behaviors, strategic targeting for the team, a culture of accountability with regular one-on-one meetings, proactive developmental coaching, addressing underperformance promptly, focusing on hero-making instead of heroics, and connecting at a personal level with their team.
Fundamentals for Salespeople
Salespeople should focus on strategic targeting with a written list of target accounts, have a growth mindset and continuously develop their skills, prioritize activity and results, embrace accountability and take ownership of their performance, seek coaching and feedback to improve, consistently pursue learning and honing their craft, leverage proven sales techniques and fundamentals, and build strong relationships with their prospects and customers.
Importance of Fundamental Investing
Fundamental investing is key to long-term success, whether in sales or investing. While gimmicky trends and short-term successes may be tempting, it is important to focus on the fundamentals that have proven to work over a long period of time. The example of Kathy Wood's portfolio, which experienced a boom during COVID, emphasized the need to assess whether a trend will sustain long-term success. Focusing on companies with solid fundamentals and a track record of growth is crucial for investment success.
The Power of Fundamentals and Avoiding Shortcuts
Emphasizing fundamentals is essential not only in investing but also in sales and other areas of life. Many people are inclined to chase quick fixes and shortcuts, like NFTs or trendy strategies, but these often do not have a strong foundation and can quickly fade away. Instead, it is critical to focus on the basics, such as goal setting, strategy development, and planning, before considering specific investments or sales tactics. By honing in on the fundamentals and investing time and effort in proven strategies, individuals can increase their chances of long-term success and achieve their goals.
In this powerful episode, Mike puts the wrap on an amazing year. Episode 66 combines straight talk from two of Mike’s highly-rated, trusted advisors – his golf coach, Brian Fogt, and his financial advisor, Jacob Turner – along with his own Year-End/New Year’s Sales and Sales Management “Fundamentals Checklists.”
Enjoy listening to Mike interact with two true professionals – people he turns to (and pays) for advice! Be amused at the similarities between investors, golfers, salespeople, and sales leaders – most of whom suffer from FOMO, tend to bore easily, and are quick to chase sexy quick fixes and shiny new objects instead of doing the mundane work to shore-up the fundamentals.
And don’t miss Mike sharing exactly what he’d be focusing on right now if he was a sales leader looking to maximize results in 2024.
Thank you for your incredible support of the Sales Management. Simplified. Podcast in 2023.
As Mike concludes every episode, wishing you great sales leadership, and to your team, tons of NEW SALES in the year ahead!
The Fastest Way to Increase Accountability, Reduce Complacency, and Create a High-performance Sales Culture guide (near the top on the right at mikeweinberg.com)