Posted in Blog by Matt
May 4th, 2012
Lakshmi Mittal and family (£17,500m), Alisher Usmanov £12,400m, Roman Abramovich (£7,400m), Sri and Gopi Hinduja (£6,000m)…and so The Sunday Times Rich List for 2012 goes on.
The entire list boasts a variety of successful individuals from business experts to musicians and from actors to sports stars. They may have chosen different paths but they’ve all ended up at the same place – incredible wealth.
So what features do these successful individuals share? That’s simple. They all possess the ability to sell. Some sell themselves to audiences and fans, while others sell their products or services to investors. The point is developing a selling strategy that works is the key to incredible wealth and success.
Let’s take a look at some of the different professions that appear in the Rich List. In each category there are features of strong selling strategies, without which the individuals appearing in each category would never have made it to the top…
The Sports Star
The world’s richest sports players don’t actually generate all their money through being great at their chosen sport. For a sports star to make into the Rich List they need to be known for far more than just sport.
Take David Beckham. Once recognised as a Manchester United footballer today he’s a brand and is marketed and sold as that brand with great effect. Great sales people show creativity in the sale and are flexible enough to adapt their product or service to suit the needs of the buyer.
The sales teams behind sport stars manage to harness their popularity on the field and transfer that to a wider audience. Beckham is no longer just a favourite because of his footballing skills, he has been re-packaged as a model and makes a fortune from various fashion labels.
Sales lessons from the list: What other avenues can you explore with your product or service? Who else could be interested, and why? The top sellers outperform their rivals and drive up success by constantly looking for new ways to sell. Yes, David Beckham is a great footballer – but there’s potential in other markets too. Never limit selling to one market.
The Business Man or Woman
Entrepreneurs, investors, bankers, business owners and many more feature in the rich list this year. JCB’s owner Sir Anthony Bamford has enjoyed a growth in wealth from £1,500m to £3,150m, which puts him just behind Sir Richard Branson and Sir Philip Green. All three feature in the top 20 this year.
Without effective selling strategies none of those individuals would have found success.
All those who feature in the list will sell on a daily basis – often to investors, shareholders, heads of business, and even politicians. The same rules apply to these hugely successful individuals as they do anyone else in sales. People buy and invest in those they trust.
So, what are the key attributes of these successful business people when it comes to selling?
Sales lessons from the list: Building rapport while being natural, open and honest are always relevant in sales. When a company is looking to invest £10m in a new construction project or when an estate agent sells a flat to a first-time buyer – the same rules apply.
Adele was the surprise entry of the year wading into the list with her £6m fortune. So how does a young musician rise through the ranks in a relatively short space of time to earn a place in the rich list?
No musician finds success without experienced management that ensures the profile of their client is growing at all times – this requires some powerful selling. Convincing magazine editors and radio presenters to choose your client’s music above others will often require matching the key attributes of the musician to the audience being targeted.
For instance, the sales team behind Adele might package her up as young, current, and plugged into London’s young generation when selling her into an interview on Radio 1.
Then (as all great sales people do) they will re-package her for a magazine interview with Q magazine (aimed at an older audience) as an established artist with huge musical knowledge and talent.
Sales lessons from the list: Profile is essential to a musician’s wealth and success. A sales strategy that focuses on selling different attributes in order to appeal to a range of markets will tap into a wide variety of buyers and grow revenue accordingly. Work on your profile. Your profile is how you look, how you act. Essentially, it’s your brand.
It’s how others feel about you when you leave the room. Reverse engineer your profile by writing down a list of words that you would like others to say about you, and then create that profile for yourself.
Next week I take a look at the Lottery winner and the actor and ask the same question: what kind of selling strategy have these rich list entrants adopted? Again, there will be sales training lessons to learn so don’t miss PART 2 of Lessons from The List: How to make extraordinary wealth from sales.
Natural Training specialise in building fresh and inspirational sales strategies to compliment your own natural style. Call us on 020 7613 7830 or email firstname.lastname@example.org to find out more.