Every Friday I plan for new learning. There are times I just need to bite the bullet and work on areas of learning I know I don't enjoy but it needs to be done. That area has been finance and accounting.
When working with many in finance I always rolled my eyes boringly at information shared, desperately wanting them to get to the point. I experienced the Monday morning emails with reams of financial sales data that was so dense I couldn't even find my clients name in it.
Being a business owner things have changed. I get it even more and in hindsight wish I'd pay more attention to it in my sales career. Here's something I should've said to all of the finance accounting professionals I worked with "YOU WERE RIGHT!"
Before you turn your head and choose another post, hear me out. I know many of you may not be business owners. Key Account Managers have to operate with a business owner mindset. Why? because you want to influence business led decisions at a high level. The better you can understand those challenges the more prepared you'll be to influence those decisions and the bigger deals you can create. Financial intelligence is huge.
I'm not talking about getting a financial degree nor am I saying you shouldn't utilise the skills of your peers who know this stuff. In order for you to effectively raise your game and ability to operate at a higher level in business this is a must. Investing only 30 min a week to increase your financial intelligence will put you heads above your peers and competition in the market. As an example here are three immediate benefits you can gain with just a small investment of time.
- Your clients company reports will finally make more sense. This will enable you to contribute more credibly in c-level conversations.
- You'll be able to present the financials of your proposals more persuasively and win more business (especially when procurement are involved).
- You'll be able to make better qualifying decisions around what companies to work with and the help they might need.
All of this knowledge if applied will lead to an increase in your credibility, influence and sales results.
There aren't many good videos out there on finance for sales professionals. In fact there are next to none. I'll be creating one myself with an expert exclusively for key account managers on my mailing list (look out for that soon.)
In the interim the company Big Think does a great job illustrating finance and investing. It covers a range of areas but sit tight because you'll still get a lot of value from it. You may want to come back to it as it is 45 min long.
If you're a key account manager, manager of key account teams or consultant take the next step to connect and get my Wednesday KAM growth insights newsletter. Click HERE or get connected at www.jermaineedwards/signmeup
Looking for Key Account Growth Coaching or key account business Transformation click on the links or simply get in touch HERE. look forward to helping you get more from your key customer relationships this year.