Showing posts with label Sales. Show all posts
Showing posts with label Sales. Show all posts

Monday, April 30

So what do you do?

Dear Kannu

I find this question always difficult to answer when I meet new people. Something like the immortal words of Harry Belafonte, “

He stammered and he stuttered pathetically
And this is what he said to me.
He said, "The woman piaba and the man piaba
and the Ton Ton call baka lemon grass,
The lily root, gully root, belly root uhmm,
And the famous grandy scratch scratch.
It was clear as mud but it covered the ground
And the confusion made the brain go 'round.

The song is at the bottom of this post. But that wasn't the point that I was making son (although you might like and appreciate the song).

You will end up doing many jobs and do many things. Saying that you are a banker or you work in IT or you are a process analyst or you are a researcher is rather silly. Don't say which firm you work for or which function you work for or what is your job title. Remember you are telling people, not announcing your cv. So ensure that the people understand what value you add.

Another point to remember is to consider who is asking where? If I am inside a bog fighting for a slice of cheese and my competitor asks what do you do, the answer, I am a banker will not help. The right answer would be, I am hungry and I look for food. Do you see what I mean? What you do is differently phrased depending upon who is asking when and where.

So you are a student, people will ask what do you want to do when you grow up. Saying that you want to be a broker or a diplomat or a software entrepreneur is telling them your job title. That’s boring son. Try to put it in some other words. Such as, I want help people become wealthy (broker), I want to help improve my country’s reputation and trade in the world (diplomat), I want to provide software to my customers that will help them improve their lives (software entrepreneur).

Another way of putting the same as above is to describe what others will describe you as. Turn the question around. The question is, “what do you do?” to “what will your customers/clients describe how you add value to them?”. So some examples can be, “well, my clients would say that I find them great investing opportunities” (broker), my counterparts would say that he is a great diplomat chap who represents his country’s interests brilliantly (diplomat), my customers would say that he has some great products that really help me out (software entrepreneur”.

See what I mean, son? Treat yourself differently, speak differently for yourself. Stand out of the crowd of brokers, bankers, diplomats and entrepreneurs. If you are interested in what I say what I do? I usually end up saying, “i help people sell more in my job, I help others help themselves in my charities and I have fun in my personal life”

Love

Baba

Monday, April 23

The flowing view of USA

This was one of the most spectacular data representations that I have seen. What it shows is now wind flows over the USA.

You can see the interactive map here. Go on, click on it. Doesn't it look like Lady America’s hair waving? Beautiful.

How to represent data is one of my jobs. For example, what I am trying to do over the past 3 years is to improve sales. When you are talking about the firm the size of ours, the sheer quantity of data is mind boggling. Putting things into context, my firm has a balance sheet which is about 4% of the world GDP. Think about the sheer number of transactions that flow through. And I have to ensure that we get sufficient data to my sales chaps so that they can keep track of what has happened, what is coming down the pipe that they know about and what might come down the future pipe. All this in 80 countries, multiple currencies, multiple products, thousands of sales chaps.

So think about it, I need to get the senior chaps around a table to manage. Its very easy to get bogged down by just looking at the history. Its safe, its blunt, nobody questions it. But that’s not what I am paid for. I am paid for how well I navigate the future, what’s coming down. Its like a gunnery officer on a battleship who is trying to hit another battleship. I might have the best possible telescope which tells me where the enemy battleship is right now. What I want to know is where it will be in 2 minutes. It will take me that long to prepare my gun and fire it, the shell to go across the water and then hit it. Where it is right now is just one data point. I need to know how fast is it going, is it turning, how is the air temperature, the humidity, the aspect ratio, a zillion other factors.

Its the same with these big firms. I cannot manage looking historically, I need to use the data to try to predict where the customer will be in “x” days so that I can modify my sales, product, customer services, etc. etc. And when you have big data of this shape, size and volume, data representation is absolutely crucial. Human beings cannot absorb too much data. Throw too much data at them and they shut down or ignore it. So you have to be careful about what you pitch. Its a fascinating area of research. Then again, this poster says it all about me trying to forecast. lol

Also see this link on big data. Another view of the same problem, tick by tick data is another big ocean to swim in. Almost 12 years back, we used to use these chaps. The amount of data that we had to manage while I was on the trading floor and try to make sense of it was ferociously big. Hairy stuff.

Tuesday, March 13

How Companies Learn Your Secrets

This is a fascinating story about how to use data analytics to understand customers. I quote:

Andrew Pole had just started working as a statistician for Target in 2002, when two colleagues from the marketing department stopped by his desk to ask an odd question: “If we wanted to figure out if a customer is pregnant, even if she didn’t want us to know, can you do that? ”

Pole has a master’s degree in statistics and another in economics, and has been obsessed with the intersection of data and human behavior most of his life. His parents were teachers in North Dakota, and while other kids were going to 4-H, Pole was doing algebra and writing computer programs. “The stereotype of a math nerd is true,” he told me when I spoke with him last year. “I kind of like going out and evangelizing analytics.”

As the marketers explained to Pole — and as Pole later explained to me, back when we were still speaking and before Target told him to stop — new parents are a retailer’s holy grail. Most shoppers don’t buy everything they need at one store. Instead, they buy groceries at the grocery store and toys at the toy store, and they visit Target only when they need certain items they associate with Target — cleaning supplies, say, or new socks or a six-month supply of toilet paper. But Target sells everything from milk to stuffed animals to lawn furniture to electronics, so one of the company’s primary goals is convincing customers that the only store they need is Target. But it’s a tough message to get across, even with the most ingenious ad campaigns, because once consumers’ shopping habits are ingrained, it’s incredibly difficult to change them.

There are, however, some brief periods in a person’s life when old routines fall apart and buying habits are suddenly in flux. One of those moments — themoment, really — is right around the birth of a child, when parents are exhausted and overwhelmed and their shopping patterns and brand loyalties are up for grabs. But as Target’s marketers explained to Pole, timing is everything. Because birth records are usually public, the moment a couple have a new baby, they are almost instantaneously barraged with offers and incentives and advertisements from all sorts of companies. Which means that the key is to reach them earlier, before any other retailers know a baby is on the way. Specifically, the marketers said they wanted to send specially designed ads to women in their second trimester, which is when most expectant mothers begin buying all sorts of new things, like prenatal vitamins and maternity clothing. “Can you give us a list?” the marketers asked.

Go read the whole article, so totally worth it if you are interested in sales, statistical analysis, etc. Its such a fun time, to look at masses of data and making these connections. Seriously interesting stuff. It helps if you are slightly off the wall, lol.

Tuesday, January 31

Everybody is a salesman, some are good some so-so

Dear Son

As you know, my current job is to improve the sales organisation of a particular business within the bank and two years into the project, we have done very well, already nearly doubled what we had originally promised 1 year early and are on track to nearly triple our promised benefits by end of the year. But that's not what I want to talk about.

I want to talk about sales and sales people. Everybody has to sell, you have to sell your skills to your teachers, you will have to sell your interest, grades, cv to the Oxford or Cambridge interviewer, Mamma has to sell her books, Diya has to sell the idea of enjoyment so that she can watch the 23490234th re-run of her tv programmes. When you grow up, you will keep on selling, whatever job you do. If you become a diplomat, you will sell the idea, products and services of the United Kingdom, if you are a banker, you will sell the products, or what have you. I sell my photographs, I sell my change abilities, I sell the charities and get equipment and money for the charities, I sell knowledge and education to my students. So see? everybody has to sell all the time.

So what are the personality traits of the top sales people? Here is a survey which talks about what are the main bits. I will add two more elements to this list having spent quite a lot of time selling and being with sales men. (1) attention to detail is one and (2) passion is second.

Have a think about how your personality aligns with this list and you can work on how to improve and enhance your selling skills. You already have a great personality, this will help you fine tune it, son.

Love

Baba


http://blogs.hbr.org/cs/2011/06/the_seven_personality_traits_o.html
Seven Personality Traits of Top Salespeople

If you ask an extremely successful salesperson, "What makes you different from the average sales rep?" you will most likely get a less-than-accurate answer, if any answer at all. Frankly, the person may not even know the real answer because most successful salespeople are simply doing what comes naturally.

Over the past decade, I have had the privilege of interviewing thousands of top business-to-business salespeople who sell for some of the world's leading companies. I've also administered personality tests to 1,000 of them. My goal was to measure their five main personality traits (openness, conscientiousness, extraversion, agreeableness, and negative emotionality) to better understand the characteristics that separate them their peers.

The personality tests were given to high technology and business services salespeople as part of sales strategy workshops I was conducting. In addition, tests were administered at Presidents Club meetings (the incentive trip that top salespeople are awarded by their company for their outstanding performance). The responses were then categorized by percentage of annual quota attainment and classified into top performers, average performers, and below average performers categories.

The test results from top performers were then compared against average and below average performers. The findings indicate that key personality traits directly influence top performers' selling style and ultimately their success. Below, you will find the main key personality attributes of top salespeople and the impact of the trait on their selling style.

1. Modesty. Contrary to conventional stereotypes that successful salespeople are pushy and egotistical, 91 percent of top salespeople had medium to high scores of modesty and humility. Furthermore, the results suggest that ostentatious salespeople who are full of bravado alienate far more customers than they win over.

Selling Style Impact: Team Orientation. As opposed to establishing themselves as the focal point of the purchase decision, top salespeople position the team (presales technical engineers, consulting, and management) that will help them win the account as the centerpiece.

2. Conscientiousness. Eighty-five percent of top salespeople had high levels of conscientiousness, whereby they could be described as having a strong sense of duty and being responsible and reliable. These salespeople take their jobs very seriously and feel deeply responsible for the results.

Selling Style Impact: Account Control. The worst position for salespeople to be in is to have relinquished account control and to be operating at the direction of the customer, or worse yet, a competitor. Conversely, top salespeople take command of the sales cycle process in order to control their own destiny.

3. Achievement Orientation. Eighty-four percent of the top performers tested scored very high in achievement orientation. They are fixated on achieving goals and continuously measure their performance in comparison to their goals.

Selling Style Impact: Political Orientation. During sales cycles, top sales, performers seek to understand the politics of customer decision-making. Their goal orientation instinctively drives them to meet with key decision-makers. Therefore, they strategize about the people they are selling to and how the products they're selling fit into the organization instead of focusing on the functionality of the products themselves.

4. Curiosity. Curiosity can be described as a person's hunger for knowledge and information. Eighty-two percent of top salespeople scored extremely high curiosity levels. Top salespeople are naturally more curious than their lesser performing counterparts.

Selling Style Impact: Inquisitiveness. A high level of inquisitiveness correlates to an active presence during sales calls. An active presence drives the salesperson to ask customers difficult and uncomfortable questions in order to close gaps in information. Top salespeople want to know if they can win the business, and they want to know the truth as soon as possible.

5. Lack of Gregariousness. One of the most surprising differences between top salespeople and those ranking in the bottom one-third of performance is their level of gregariousness (preference for being with people and friendliness). Overall, top performers averaged 30 percent lower gregariousness than below average performers.

Selling Style Impact: Dominance. Dominance is the ability to gain the willing obedience of customers such that the salesperson's recommendations and advice are followed. The results indicate that overly friendly salespeople are too close to their customers and have difficulty establishing dominance.

6. Lack of Discouragement. Less than 10 percent of top salespeople were classified as having high levels of discouragement and being frequently overwhelmed with sadness. Conversely, 90 percent were categorized as experiencing infrequent or only occasional sadness.

Selling Style Impact: Competitiveness. In casual surveys I have conducted throughout the years, I have found that a very high percentage of top performers played organized sports in high school. There seems to be a correlation between sports and sales success as top performers are able to handle emotional disappointments, bounce back from losses, and mentally prepare themselves for the next opportunity to compete.

7. Lack of Self-Consciousness. Self-consciousness is the measurement of how easily someone is embarrassed. The byproduct of a high level of self-consciousness is bashfulness and inhibition. Less than five percent of top performers had high levels of self-consciousness.

Selling Style Impact: Aggressiveness. Top salespeople are comfortable fighting for their cause and are not afraid of rankling customers in the process. They are action-oriented and unafraid to call high in their accounts or courageously cold call new prospects.

Not all salespeople are successful. Given the same sales tools, level of education, and propensity to work, why do some salespeople succeed where others fail? Is one better suited to sell the product because of his or her background? Is one more charming or just luckier? The evidence suggests that the personalities of these truly great salespeople play a critical role in determining their success.

Wednesday, January 18

The mind boggles

First you create a society that strictly segregates women from men. The idea that women can interface with men is so shocking that they have men selling undies to women. Then finally somebody with one working brain cell figures out that this isn't working. So what do they do? They forbid any man from selling to women. And given that this blithering society forces women into nursing, teaching or stuck within the 4 walls of their home, 28,000 women line up to take up sales jobs.

Then the ministry hires hundreds of inspectors. The stores have to hire male security guards to ensure that only women go into the store. heh. So now we have male inspectors and male security guards checking lingerie shops. Talk about stupidity piling on top of stupidity. I love these guys, its like a whole country fit for a Darwin award. And the best part is that their ideology and philosophy is spreading. More More, we need more of this.

Read this story for the background details.

While in another part of this wonderful world, the government has run a series of campaigns targeting fortune tellers, mannequins and cigarette vendors. I quote:

Police sources told …142 fortune tellers were forced to sign an agreement at the Ministry of Interior pledging that they would not practice their craft. As well as predicting the future, fortune tellers sell amulets for protection and are sometimes called on to solve personal or family problems.

Heh, I betcha they didnt predict that, eh?

And strangely enough,

owners of taxi firms have been warned not to allow any former security officers to work as drivers, police officers said.

Eh? why? what?

I just love reading these kinds of news item. WTF or Facepalm doesnt do justice, its just sitting back and watching this parade of idiocy pass you by while you crack peanuts and throw at these muppets.

Thursday, September 15

Swamp Dreams

Here's an interesting article son. Malls are the natural evolution of the high street. The reason why I raise this is that they are now morphing outside their primary purpose, shopping. In our local mall, we have shopping AND entertainment. But then there is sports now and slowly the next element is coming in and that's tourism. I wouldn't be surprised if museums and exhibitions are included. I also think housing units and integrated transport systems will come up soon as well.

Dubai is an example where life revolves around malls. People go there to just walk around. They don't need to shop. Just enjoy themselves. Teenagers hang out there. Have you noticed that old people usually congregate there as well? Sit around the millie's cookies shop? It's a social area. I have seen the same behaviour in USA uk china hong kong and has started to show up in countries like india. Saw that in gurgaon and of all the places, Bhopal. Your dadu actually likes to hang out in one of the malls sometimes!

So if you are ever interested in retail, then this needs to be a bit on your mind.

Swamp Dreams
http://nymag.com/print/?/news/features/american-dream-meadowlands-2011-8/


The water-park element of the development, currently under construction, is modeled after Hawaii.
Rendering courtesy of Triple Five Worldwide

Out on the edge of the Meadowlands, where the Hackensack River begins a grand and gentle sweep west, a ruin rises from the fields of mosquito-­patrolled phragmites and mostly empty parking lots. It sits between the New Jersey Turnpike’s vast superhighway and the older roads that serve paintball parks and low-slung manufacturers: a ­giant edifice that resembles a ship washed ashore. Or perhaps it was sent here from space, by a race of creatures who mistook Carlstadt, New Jersey, for a ­regional capital and crashed on landing beside Moonachie Creek.

Then again, to call it a ruin is misleading. To say that this empty giant indoor shopping center—larger than the malls at nearby Paramus, Short Hills, Woodbridge, and Wayne combined—is some kind of after suggests there was a before, a time when people ate at Cheesecake Factories or tried on Ray-Bans at Sunglass Huts. This is not the case.

For this ruin has never been ruined, or might be considered pre-ruined, given that it has only ever been a plan, or a series of plans. What is currently half-built is the product of the last plan, hatched in the Bush era, that, even before the economic downturn killed it, was loudly and universally derided—Governor Chris Christie called it, boldly, the “ugliest damn building in New Jersey and maybe America.” But after almost a decade of talks and schemes, of construction starts and stops in which the stalled mall passed from one developer to another (and the parking lot started to sink into the swamp), construction has begun again. The mall is now in the hands of Triple Five, the Alberta-based developer of some of the largest malls in North America. The company was hand-picked by Christie, who has praised its owners for “their commitment and vision.” This is a considerable understatement.

If you disregard military bases and airports, and maybe the dam the Chinese government is beginning to regret it built on the Yangtze, the mall currently under construction at the Meadowlands will be one of the biggest feats of construction in history: the world’s largest commercial space, with at least six zeros attached to all the calculations. There is to be an astonishing 7.5 million square feet of retail space. Every year, the mall’s developers expect 55 million people—almost the population of Italy—to show up for, say, breakfast and some jeans and maybe a luxury item, as well as a show or a ­fighter-jet flight simulation or a grande decaf latte beneath a TV screen that will make Times Square seem like a rec room from the seventies. There will be the first indoor ski slope in North America: 800 feet long, sixteen stories high, with fresh snow made daily. There will be a skating rink the size of a small lake. And in the water-themed part of the structure, there will be a gigantic room modeled after Hawaii, with a tropical climate, a pool featuring six-foot waves, and possibly some kind of whale or unusual fish, explained to shoppers by sea-life educators.

If things go according to plan—a Yangtze dam–size if—the first stage of the complex will be completed in 2014, in time for the Super Bowl, which will be held that year across the parking lot. It is to be called ­American Dream at Meadowlands.

“I will probably be going to Hawaii with the girls,” Governor Christie is saying, imagining a family outing to the Meadowlands. He’ll be heading to the faux tropics, while his wife and sons will be skiing on the faux mountain next door.

Christie is standing on an incomplete balcony of questionable safety, in the unfinished sports court of American Dream, speaking to a crowd of regional journalists who have arrived one morning this spring to tour the mall under construction. New Jersey has offered Triple Five up to $350 million in state subsidies, making American Dream one of the few ­government-supported endeavors Christie hasn’t enjoyed saying no to. In fact, the governor is noticeably revved up, taken by the mall’s bigness, and charmed by its developers, whose enthusiasm roughly approximates the scale of the project itself.

Triple Five is run by the Ghermezians, an Orthodox Jewish family of four brothers and their nephews from Edmonton, Alberta. Nader Ghermezian, the company’s chairman, is standing next to Christie, playing Teller to Christie’s Penn. He has spent a career promising absurdist marvels, cutting ribbons on indoor lakes. “Today, we are proud to announce that we will be developing the world’s largest and most comprehensive retail, entertainment, amusement, recreation, and tourism project ever built,” he declares.

Numbers fly from Ghermezian like French fries out of a Burger King. “We will create 30,000 permanent jobs,” he says, citing an “economic benefit” of $3.8 billion that will be injected in the area’s economy. He points out that 25 million people live within driving distance, and begins to paint a picture of Newark Airport as less a gateway to the Greater New York area and more like a pipeline to American Dream at Meadowlands. (There are plans for Newark baggage check-in at the mall, and chartered flights destined specifically for American Dream.) “We are going to bring them in from far away,” he says. “From Europe, from South America, from all over the world!”

But Ghermezian also imagines that ­American Dream will end up being a time-saver for New Yorkers. “How would you like to go skiing in the middle of summer?” he asks. “Come here instead of going to Aspen!” When American Dream opens, he expects it will be that much harder to justify leaving the New York area at all. “You don’t have to go anywhere—Rome, Paris, Milan—for shopping. We will have them all here in the Meadowlands in New Jersey.”

Ghermezian is channeling something—a little Robert Moses, a little Norman Bel Geddes designing Futurama for the 1939 World’s Fair. He is not bashful, and he betrays no doubt that his dream will be realized. “So let’s work together, let’s be positive,” he says, and then adds, with steely confidence: “We will have a water park in here.”

Before it was a mall, or even a sports stadium, the Meadowlands was a place where people planned and plotted, where they dreamed of big things and sometimes even realized them, though mostly not. In 1824, Diedrich Knickerbocker, Washington Irving’s Dutch pseudonym, saw the meadows as nothing but emptiness, marked by Snake Hill, the extant rise that, before the pre-ruins of American Dream, was the biggest thing on the horizon: “It appears proudly overshadowing a gentle river, which rolls gracefully by its side, and stands like a giant amidst the desert, frowning upon the monotonous landscape around.”

Even during Irving’s time, however, there were developers who believed the swampy, mosquito-infested “wasteland” could be converted into the most productive farmland the world had ever seen. Just after the War of 1812, General Robert Swartwout bought land and diked it, planning grasses and a giant dairy farm to supply the growing populace of New York. “How can the success of such a work be denied when the most invincible proofs are before us?” Swartwout asked, just before his success was denied, the dikes breaking, the farmland sinking, the site eventually becoming an insane asylum. After the Civil War, Samuel Pike, a New York real-estate developer and distiller, founded the Iron Dike and Land Reclamation Company, also with an eye toward farmland creation. His special iron dikes avoided the erosion of the previous projects, though it is said that corn stalks that grew on the reclaimed land produced no corn. Pike sold his land to the railroads. “The enterprise of bringing it into cultivation bids fair to be a success,” the Times reported of the next giant land-reclamation scheme, before it, too, failed. In 1896, Cornelius C. Vermeule proposed developing the Meadowlands into an industrial city. This plan never got off the ground, either.

In the mid-1900s, a sea-plane base is said to have prospered for a time, and people are thought to have camped in the Meadowlands for the 1939 World’s Fair. But the area was mostly abandoned and the farms were slowly reclaimed, piecemeal, by illegal dumping and the tides. Swarms of mosquitoes—dark clouds of aedes sollicitans, their stingers geared for blood—were frequently said to fly from the marshes to Newark, and were even blamed for infestations in New York. In the fifties, sand drains allowed engineers to build on swamps that had previously proved impervious to development: thus the New Jersey Turnpike, which led to the stadium and racetrack, which led to more plans to do something with the land adjacent, which brings us to American Dream.

The land in question is owned by the New Jersey Sports and Exposition Authority. It was first planned to be developed by Kajima International, a Japanese company that in 1996 proposed a retail-entertainment “pleasure dome.” By 2002, the project had gotten nowhere, and soon control over the land was granted to the Mills Corporation, a maker of giant malls named after mills (Franklin Mills in Philadelphia, St. Louis Mills in St. Louis, etc.). It was the not-so-halcyon days of the James McGreevey governorship, when shopping seemed as if it would never stop, when malls were the rage. Mills, adopting the pleasure-dome idea, approached the $1.3 billion project with gusto. It called the development Meadowlands Xanadu.

But like many of its forebears, the Mills Corporation’s plan went down the tubes. The company got so far as to build a shell and even an indoor ski slope before skirting bankruptcy in 2007. The Sports and Exposition Authority was stuck with a half-building. Enter Colony Capital, a L.A.-based investment firm with an international background in casinos and hotels. “We are pleased to have the complex negotiations of the last few months behind us and are extremely excited about the project’s momentum,” Colony stated in 2006, immediately before it lost momentum. By 2009, the Xanadu site was a metaphor for the bad-deal rich economy: swampland and every­thing sinking.

Stephen Ross’s Related Companies flirted with the project next, in 2010. Ross’s team proposed changing the name from Xanadu to Meadowlands, and came up with a logo centered on the letter M. “The Meadow­lands will usher in a new era and a bold redefinition of what a retail destination can be,” read a Related brochure obtained by the Bergen Record. The ski slope, né Snow Dome during the Xanadu days, was renamed ­SnowPark. A 286-foot Pepsi Globe (or Ferris wheel) was also retained. But Ross’s Meadowlands Plan stalled, and Cabela’s, the outdoor store that was to be an anchor tenant, began threatening to opt out.

This is more or less where Christie stepped in. Some observers expected him to compare the development to other unwieldy projects, like the federally financed regional train tunnel he had recently squashed, and simply declare the mall dead. But he chose to double down, to go bigger and better, to show himself as an executive who gets big business moving. He met the Ghermezians at a Giants game and was reportedly impressed by their track record. Triple Five is the developer of the Mall of America (4.25 million square feet) in Minnesota, as well as the West Edmonton Mall (5.3 million square feet) in Canada, which reigned briefly as the Guinness Book of World Records’ largest mall before the opening of Beijing’s Golden Resources Mall (6 million square feet). With ­American Dream, Triple Five is looking to take back the No. 1 spot.

“Okay, so this is the ski slope,” Paul ­Ghermezian says, standing in an empty concrete room with a big hill in the ­middle of it. “It’s essentially a large refrigerator.”

Paul, Nader Ghermezian’s nephew, is in charge of the tour. He is tall and charming, relaxed and meticulous; he has inherited his uncle’s pitchman genes. “I grew up in the Rockies, so this is awesome,” he says. “You have to imagine the half-pipe. I already skied the equivalent of this. It’s in Madrid, and it’s a good time.”

He stays upbeat, enthusiastic. “It’s a great climate-controlled environment, so it’s not too cold,” he says. “And it’s real snow. This is something to really understand. It’s real snow!”

“You have to imagine the half-pipe. I already skied the equivalent of this in Madrid, and it’s a good time.”

Next stop, a mall-size sports bar, with a proposed TV set that Paul is bubbling over. “Our vision here is this wall, it’s going to be outfitted with the most amazing high-definition screen you’ve ever seen!” And then: “I told the management that I wanted a second one for my house,” he says, winking at the cameras.

Paul’s tour necessitates a lot of imagining, some of it fairly difficult (indoor skydiving, for instance). At the moment, walking around American Dream feels like entering a Battlestar Galactica episode in which a team boards an evacuated space station with a possible alien presence lurking. Workers’ lunch trash is scattered around rooms next to fancy terrazzo tiling; boxes of Kohler toilet fixtures are stranded near sheets of wallboard and rolls of insulation. If you didn’t know, you might not be able to tell whether the theater was on its way up or down. “This will be very similar to what was the Nokia Theater in Times Square,” we’re assured.

Toward the end of the tour, Paul finally gets the question he is looking for—why the name American Dream?

“Obviously, it’s a very vetted thing,” he says. After asking reporters for their theories, he says the name comes down from his uncles, who, after immigrating from Iran in the late fifties, believe they have lived the American Dream, albeit via Canada. “In all instances, they achieved it,” he says. “And they want to share that.

“We want people to live the American Dream, and what I mean by that is they have a great time,” he goes on. “There’s no feeling like it. And the tourists who come here are going to say, ‘This is America!’ ”

By this point we have ascended the mall’s roof, which looks out over the reeds and the parking lots and the disused radio towers across the muddied Hackensack River, beyond Secaucus, to the view of midtown Manhattan, creeping over the hills of Union City. Paul points to the city skyline, then unveils a revolutionary rethinking of the view, an American Dream in reverse. “When you look out at Manhattan, all our eyeballs are on them,” he says. “But when they look out, they’re going to see us. They’re going to say, ‘Wow, what’s going on out there?’—and they’re going to make that trip.” He waxes enthusiastic about the Jersey-centered panorama. “These investment bankers working late hours, looking out on the Meadowlands, they’re going to long to go to New Jersey,” he says. “You’re going to see children tugging at their parents—this is where we want to go!”

As you might imagine, some people have difficulty understanding why New Jersey needs to compete with China in the shopping-mall category, or why a ­biospherelike amusement park is necessary, or why this particular project needs to be built right now, during what can generously be called a precarious retail environment.

“I don’t know which is worse—if it fails or if it succeeds,” says Jeff Tittel, the director of the New Jersey chapter of the Sierra Club. “If it fails, New Jersey is going to be out of $350 million in taxpayer subsidies. And if it succeeds, it will be the worst traffic, and it will destroy shopping areas in cities and malls all over the state.” Even American Dream proponents acknowledge the traffic situation, though they predict that road improvements will accommodate the anticipated 150,000 additional cars. But Tittel, citing an average capacity of roughly 1,800 cars per hour per lane, thinks the project will be a Giants fan’s worst game-day-traffic nightmare. “I don’t think people understand the size and scope of it,” he says. “At the Port Authority, the bus will just sit there and never be able to leave the building.”

An equally pressing question is whether the mall will succeed on its own terms. Is it possible to build anything that can attract 55 million visitors a year? In New Jersey? Throughout the country, high-end malls have endured the recession surprisingly well, especially those with entertainment components. And as crazy as it may seem to shoppers in Cobble Hill or Nolita, retail experts say the region is facing a mall gap. “If you look at the Greater New York area,” says David Harris, an analyst with Gleacher & Company, “I know it’s hard to relate to for a lot of New Yorkers, but we are under-malled here.” It is true that older shopping centers are struggling throughout New Jersey, but the owners of the Nanuet Mall announced this spring that they would demolish it to build a fancier one in its stead.

On the other hand, maybe there’s a reason why the Xanadu–American Dream site has sat empty for so long. “If this project is viable, why hasn’t it been done over the years?” asks Deborah Howlett, the president of the New Jersey Policy Perspective. “Why does it take $350 million from the people of New Jersey?” She finds it particularly galling that the financing for the almost $4 billion megamall was arranged in a year when Christie slashed 5 percent of the school system’s annual funds. To make the deal, the government had to rewrite the Economic Redevelopment and Growth grant and the Urban Transit Hub Tax Credit Act. An affordable-housing element was scratched in negotiations, reducing the project to a giant version of a highway-side box store. “There will just be places for business,” Howlett says.

Still, even most of the development’s opponents appear resigned to the opinion that the Meadowlands’ future belongs to American Dream. Bill Sheehan, the executive director of Hackensack Riverkeeper, is a local environmentalist who has done much to help restore vast tracts of wetlands over the past decade. He took me on a tour of the place from the river, and as we boated past fields of lush spartina grasses teeming with osprey and egret, he, too, spoke of the megamall as if it were a fait accompli. “My feeling is, it has to be something because, No. 1, it’s there. It’s gotta open. The other reasons it’s gotta open—it’ll give the economy here a real kick in the ass. I just hope they figure out a way not to use so much power.”

The Meadowlands has always been a land of larger-than-life proposals, where failure mingles with success so frequently that sometimes the difference is debatable. Dreamers in the Meadowlands have seldom accomplished what they set out to do, but new ones keep arriving anyway, and the region is typically accommodating.

On a humid morning in East Rutherford, with mosquitoes patrolling the parking lot of the Sheraton Meadowlands Hotel and Conference Center, Paul Ghermezian is at the Starbucks inside, reminiscing about the family business. His family has always been willing to do anything to create a spectacle. He remembers the first time his uncles brought a submarine to the indoor lake at the West Edmonton Mall. “It was a real submarine—if you drop it in the ocean, it will work.”

Triple Five brought a submarine to Bloomington, Minnesota, too, when they were pitching the Mall of America to the local community. Now Paul sees the Mall of America concept imitated around the world. “You have a mall and you just put a country on the end of it,” he says disparagingly. “But none of these has conjured up the same level of success and cachet that we have.”

The Meadowlands project is especially significant to Paul. His uncles bid on the project a decade ago, before it became Xanadu, so this is their second time at bat. He acknowledges that there will be some difficulties. Parking may not be free, and thanks to Bergen County blue laws, a portion of the mall will not be allowed to sell clothes on Sundays. But he faithfully sticks to the vision his family has put together, and he works it hard. “This is going to be more grand than Vegas,” he declares. “It’s going to be more classy.

“The rest of the world—especially those emerging markets—have built really great facilities,” he continues, “and when you come back to the U.S. you see some of these places have not kept up.” His BlackBerry is filled with photos from shopping experiences around the world: a chandelier in a new Vegas store, benches in Mexico. He has been to the Golden Resources Mall in Beijing, and came away unimpressed. “It is basically a stacked retail experience, without any jazz.”

As we are finishing our conversation, mosquitoes begin to make their way into the Sheraton, and then deep into the Starbucks. One lands nearby, but Paul Ghermezian is not concerned. “Mosquitoes don’t like my blood,” he says. Then, looking at his watch, he gets up to drive through the maze of service roads for a meeting at his trailer on the edge of Moonachie Creek.


(via Instapaper)

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Sent via iPhone. Apologies for formatting and typo errors

Thursday, October 25

Why IBM is so good at selling compared to its competitors

Very thought provoking post here. I quote:

HOW IBM’S COMPETITION SOLD:

  • Sales reps typically handled a dozen or more accounts.
  • Sales reps looked and talked like failed programmers.
  • Sales reps built relationships with engineering managers.
  • Sales reps pitched the wonders of their new technology.
  • Sales reps helped engineering managers to sell up the line.

HOW IBM SOLD:

  • Major accounts got a dedicated sales rep who only serviced that account.
  • The sales rep looked and talked like a top executive.
  • The sales rep secured office space at the customer site.
  • The sales rep took ownership of the customer’s IT results.
  • The sales rep enlisted IBM engineers to work with the customer’s
    engineers.

In other words, IBM’s sales reps behaved like MANAGERS, while their
competitors’ sales reps behaved like CONSULTANTS.

Actually, i see this behaviour in financial sector sales as well. It is amazing how common it is. And what i find amazing is how little people actually go outside and hit their client sites, be on site, bug the hell out of them. So few sales traders really go and are actually on their client sites, most of their clients are just a voice on the phone. Have they had a decent conversation? how far have they made friends? Very little. Most are so caught up in the technology of CRM, touch dials, profitability analysis and so on and so forth that the basics of going out there and selling has been lost I am afraid.

Here's an idea, how many of your sales people have actually managed to get a permanent pass to their client's premises? The chap who has managed to get it, give him a raise. I realise there are regulatory, compliance, confidentiality, coverage and risk issues, but mein gott!, come on! light a fire!

All this to be taken with a grain of piquant salt!!!