The Japan Business Mastery Show cover art

The Japan Business Mastery Show

By: Dr. Greg Story
  • Summary

  • For busy people, we have focused on just the key things you need to know. To be successful in business in Japan you need to know how to lead, sell and persuade. This is what we cover in the show. No matter what the issue you will get hints, information, experience and insights into securing the necessary solutions required. Everything in the show is based on real world perspectives, with a strong emphasis on offering practical steps you can take to succeed.
    Copyright 2022
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Episodes
  • Don’t Be A Whimp On Pricing
    May 23 2024
    Salespeople don't set the price of what they sell. This is usually an obscure outcome decided by someone else inside the machine. It might actually be an elaborate process, where multiple variables are carefully calibrated, mathematical formulae are applied and a price is arrived at. Or, it might be a slightly moist index finger boldly thrust skyward to come up with a number. The latter is often the case when arriving at pricing for services. Regardless, the salespersons task is to sell at that price. This is where we get into trouble. Salespeople are total wimps when it comes to price. We have learnt that getting a sale is what counts and price is an obstacle in that process. If we are on a fixed salary and bonus or base salary and commission, the two usual cases in Japan, we get paid when we make a sale. Do we know the profit margin attached to each sale? Usually no and actually we don't often care either, as long as we get paid. We are just happy to (A) not get rejected by the buyer and (B) get a win, however small. Our self-esteem is totally tied up with getting sales, modest in size or otherwise. The instinct of the salesperson then is to make the price as malleable as possible. Offering a discount seems to get the buyer in a good mood and more likely to give us a yes. This reduced price immediately impacts our commission and if we keep doing this, will also impact our bonus and job security, as we don't bring in enough revenue relative to the target. The key problem is that the salespeople often don't believe in their own product or service. Because of this they can discount with gay abandon. This is a short-term gain for long-term pain. The ability to meet the price requirement is a critical piece of the salesperson’s skill set. Dropping the price may be easy, but we never build the skills to really succeed in this profession. It usually is a path to our removal by the sales manager, who understands we are unable to sell. Amateur salespeople, when they don't believe in the price, start right off the bat with a discounted price. They say stupid things like, “normally the price is x but I am going to offer it to you for y”. Or, “if you buy two, I will drop the price by x”. The client hasn't even requested a discount, begun haggling, attempted to massage the ask and yet lo and behold, a miracle has just popped up without warning. This tactic may be misinterpreted by salespeople, who don’t know what they are doing, as building trust and a good relationship with the client. That is a false dawn of hope on the part of our intrepid hero or heroine. Thanks to volunteering an unprompted price cut, the client now understands that your firm are a bunch of liars who say one thing, but do another. They also know you are a tricky bunch who are trying to snow buyers with your fiction pricing magic. They don't see the gratuitous lower price as a bargain. They see that as the starting point in a negotiation to drive the price even lower. By having a listed price and immediately offering a lesser price, the buyer feels you cannot be trusted because you cannot even defend what you say is the value of your offering. By dropping the price so quickly, the whole question of perceived value is brought into fundamental disrepute. There is no fixed price for this sale and therefore no equivalent particular value attached to it either. We are now in the Wild West of selling, where there the only rule is the right of force and the buyer has the Gatling Gun and we have a water pistol. The salesperson’s job is to pour on the value explanation and show why this pricing is fair and reasonable, fully justified and easily defensible. If they do need to meet the client’s restricted budget or need to allow the buyer to save face with their bosses, then any discounting should in the first instant be attached to volume purchases. If they buy more then the price can be adjusted. The amount reduced should be as smallish amount, as part of the first offer. Remember, we are now off the paved highway and are hacking our way through the dense brush of a negotiated agreement, where there are no maps, no signposts and no 5th Cavalry about to come to the rescue over the sand dunes. If the price point is to be assaulted, then the reductions should be small and fought heroically all the way. Do not go for round number drops or large number drops, go down in dribs and drabs. The client will feel much better knowing that they got a legitimate discount against the usual price, because they extracted that right out of the salesperson’s hide, rather than the salesperson rolled over right from the get go. When that happens, they doubt everything about you and your company because your pricing seems bogus. Never drop your price. Defend your price with value. Resist reductions all the way down and extract some form of quid pro quo against volume purchases. If ...
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    12 mins
  • Credibility Sells
    May 16 2024

    The hardest sales job in the world is selling something you don’t believe in yourself. The acid test is would you sell this “whatever” to your grandmother? If the answer is no, then get out of there right now! It is rarely that clear cut though. The more important test is whether what you are selling solves the client’s problem or not. Selling clients on things that are not in their best interests is a formula for long-term failure and personal brand suicide.

    There are elements of the sales process which are so fundamental, you wonder why I would even bring them up. For example, believing in what you sell. There are lots of salespeople though, trapped in jobs where they don’t believe but keep selling.

    The more common problem is that they actually do believe in what they sell but they are not professional enough to be convincing in the sales conversation. They often have a sales personality deficiency, where they are not good with people or not good with different types of people.

    When I joined Shinsei’s retail bank, I recognised immediately that 70% of the salespeople should never have been given a sales role. My brief was “we have 300 salespeople and we are not getting anywhere – come in and fix it”. The vast majority of people in the role of convincing wealthy Japanese customers to buy our financial products were really suffering. They lacked the communication skills, the people skills, the persuasion power, the warmth, the concern for the customer, etc., which they needed to be successful.

    As Shinsei, we worked out who was best suited for a sales role and gave those people the proper training to equip them for success. The remainder were given a role elsewhere in the bank. What training did we give them? The ability to ask good questions, to fully understand wealthy customer’s needs.

    At Dale Carnegie we do a lot of sales training and we see the same client issues come up continuously. Certainty around the thing being sold must be in evidence. Selling is the transfer of your enthusiasm for the product or service to the buyer. Your body language must naturally exude belief. Your face needs to be friendly.

    Fluency in communication is critical. Be it Japanese or English, a lot of “filler words” like Eeto, Anou , Um, Ah, etc., might help you to think of what you want to say next, but you come across as if you are not sure or convinced about what you are saying or proposing. We definitely don’t buy sales person uncertainty.

    Success in sales is based on following a sales process. That process is based on three powerful foundations – your belief in what you are selling, your ability to fluently articulate back to the buyer what you heard they need and how your solution satisfies their need.

    If you want your sales team to be successful, make sure they get a proper sales process, get certainty, get fluency and get going!

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    9 mins
  • What Do I Do With My Hands When Presenting
    May 9 2024

    One of our problem areas is what to do with our hands when we speak. Judging by most of the presentations I see in Japan, few speakers have worked this out yet. Here are some common habits we can improve upon to make ourselves much more persuasive and professional.

    1. Hands in front of the body.

    The arms and hands when held in front of the body create a subliminal barrier between the audience and the speaker. It is saying “I don’t trust you, I am scared of you and I need to protect my most vital organs from you, in case of sudden attack”. We want to show we are totally confident and have a welcoming attitude to our audience.

    2. Arms behind the back, clasped together.

    Since cave dweller days, we have learnt not to trust people whose hands are not visible to us. They may have been concealing a weapon. Instead have the palms open and facing forward, a gesture which is universal and timeless indicating “I am not a threat to you, because, as you see I have no hidden weapon”.

    3. Arms folded across the chest or one hand touching one elbow while the other hand is held near the face. Like number one, these are defensive postures specifically designed to keep your audience away from your vital spots.

    In speaking term though, these postures send all the wrong messages. We want to be trusted as a speaker and to do so, we have to show we are open to our audience.

    4. Hands in the pockets. This is a particular favourite of male executives who have no idea of what to do with their hands when speaking. The really confused thrust both hands into their respective trouser pockets achieving a sort of stereo effect. It presents the hands where they can be seen from the front, but it denies us the opportunity to use gestures during out talk.

    5. Holding something in our hands.

    Sheets of paper can become a distraction as we tend to wave them around. The pages quiver and shake if we are nervous and this is visible to our audience. We are sending the wrong message to them. We want to convey belief and confidence in our message. We want to remove all distractions from what we are communicating and we want to free up our hands so we can employ our gestures to bolster our argument.

    6. Gripping the podium, the microphone stand or holding the hand microphone with both hands. It can make us appear quite strained as we apply muscle power to the upper arms and raise our shoulders, as we ensure the podium does not make a sudden attempt to scarper. Best to not even touch the podium at all and just feel free to raise your hands for gestures.

    Don’t touch the microphone stand at all. Restrict the hand microphone usage to one hand only, so the other is free and readily available for emphasis

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    9 mins

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