Business Acumen in Sales:
Only recently has business acumen become one of the key determinants of sales success. In the past, having product knowledge, features and advantages knowledge, and a good sales acumen was frequently sufficient (overcoming objections, rapport building, etc.).
As the function of value creation in sales has grown, a new set of talents has been required.
Great salesmen understand how businesses operate. They understand their company’s go-to-market strategy, its unique value proposition, how they compete and succeed in their market, and their financial indicators
Great salespeople also understand how their clients compete in their market segments, as well as their clients’ unique value propositions and financial indicators.
Outstanding salesmen have evolved into great business generalists.
Excellent salesmen are at ease discussing profitability, metrics, throughput, and a variety of other financial data. They are equally at ease establishing ROI with a spreadsheet as they are presenting ideas with PowerPoint.
Great salespeople are at ease discussing execution with their client’s operations employees as well as technical ideas and details with their client’s technical team. Great salesmen are at ease debating compliance and legal concerns with their client’s procurement and risk management teams.
Great salespeople use their business acumen to discover areas where value can be created, to create a vision of how that value can solve problems or create a competitive advantage, and to collaborate with their clients to develop solutions that achieve the promised results.