Why banks struggle to compete with challenger banks

Unlike fintechs, humility, adaptability and transparency are vague values for the profit-making banks “The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.” (Microsoft founder, Bill Gates) Banks are,…

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Don’t be too quick to acquiesce to requests for discounts

Doing so makes you an order taker; you are little more than a shopkeeper waiting for the buyer to say, “I want a loaf of bread,” for you to jump into action. If you acquiesce to discounts based solely on your salespeople’s feedback, then you and your sales people have a problem; you, a business…

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Effective sales managers are in the lives of their salespeople

Successful sales management requires the manager to have his nose in other people’s business. Other people here are his sales team. “Do not bring your problems to work” is an oft quoted admonition that rings sour to successful sales management. And personal problems could range from the mild, “My boy, Juma, is unwell” to the…

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How to create urgency when selling

How can you accelerate the sale? By establishing early in the sale, through asking insightful questions, the buyer’s real pain point.  We buy a product or service to solve a problem.  However, we rarely articulate the problem to the seller which makes his job that bit more complicated. For instance, we ask for a drill…

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Following the rules limits your sales potential

Conforming to the rules, works against successful selling.  The stickler for rules gets frustrated because he yields to them and gets mediocre results at best. Progressive sellers, on their other hand, while remaining ethical, take the rules as guidelines, not deadlines. Many times they will bend them to snapping point much to the irritation of…

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To alleviate Nairobi congestion, sell to the end-user

Nairobi is congested and all we have gotten for solutions are quick-fixes, just as quickly withdrawn. While the experts ponder viable options, plus being a concerned citizen, here’s my two cents on solving the dilemma. By-pass the middleman and focus on the end-user For decades, banks had stubbornly positioned themselves as the bastion of access…

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Three lessons on courage, from sales jokes

Courage brother; do not stumble over aggressive or angry persons and limit your performance. If you had ‘Njaanuary’  (no-money January) as your excuse not to sell, here’s something to lighten up your spirits- sales jokes from which we can learn the importance of courage when selling. Joke 1: The insurance agent tells the prospective buyer: …

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Fire that poor performing salesperson, but before you do…

Keeping a consistently poor performer hurts the business financially and affects the team morale and therefore productivity. How long should I keep a non-performing sales newbie? The short answer to this question I get asked often is this: three months is too short, a year too long. The floor is informed by the need for…

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