Bill Prenatt is co-owner of Simply Successful, LLC, an organization that specializes in low and no cost growth solutions for entrepreneurs and family businesses. He is one of the sharpest minds I have ever encountered in the area of sales and particularly refining the sales process.
Bill is also founder of Experts 4 Entrepreneurs, a business community whose tag line is Don’t Fly Alone. E4E is a group of experts in nearly every facet of business that have joined together to share their knowledge with business owners. In Bill’s former life he was a Sales Executive and Sales Trainer with Allan Foods.
In this episode you will learn:
- The “numbers” that can predict your sales success
- The Sales Power Formula
- The 4 C’s of Selling
- and a ton more great tips about refining your sales process
Enjoy the interview and while you’re at it, check out Bill’s website.
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{ 20 comments… read them below or add one }
Bill I love that line ” translating our features into the customers benefits” That is something I think all salespeople especially myself seem to fall short in doing. I feel the need to share all these great features and benefits yet sometimes because I am so focused on telling them about all of them that I miss what it is that gets them excited about my product or service. finding the hot buttons! Also love the who, what, when, where and why.
@STL Beds — Doug, thanks for the follow up here! Bill is hands down the sharpest mind I have ever met in the “sales process” space for small business.
Doug,
Your points are all on target. Always remember that people buy for their reasons not ours. The selling game has changed a lot and most people (not all) today just do not want to feel like they are being sold. I guess because this has been a 40 year learning experience for me, my most successful sales periods have been when I ‘connect’ with my prospects.
The fact that you know your products and services inside out serves you well. When you use that knowledge to ask better questions and meet your prospects needs, in my opinion you can significantly improve your closing rate.
Your half way home just by being willing to accept the need for change and taking responsibility to develop new behaviors…influence don’t sell!
Thanks to some of my conversations with Bill, I’m starting to discover that a few well-planned (and maintained) habits can take us a long way. I used to really dislike sales, and that’s changing a little. And I’m more hopeful about my own future success.
Russ asked a great question about “How do you train people to have a drive to succeed.” Could it be true that people have different KINDS of drive? Some might have more a a drive for personal competence than for making sales.
Steve,
Your doing a great job of combinig the internet and all of it’s possibilities to increase your funnel and and at the same time setting aside more planned time to have the face-to-face calls that build trust and rapport over time.
Og Mandino said “that we have to build great habits and become their slave”. You are doing a great job of uncovering those productive habits that work for you and now they are just beginning to bear fruit.
Small, consistent steps that bear fruit are very rewarding.
@Steve Smart — Thanks Steve! I am allergic to sales as well. I feel “icky” sometimes with it. That is why I love Content Marketing so much. I find that my sales are often made before I even meet a person.
However, when listening to an expert like Bill talk about sales, it makes me much more comfortable with the process. I have applied much of what he taught me in this interview and I have found the sales process much easier. Bill has a way of identifying the simple measures that can be taken to be prepared for sales calls in a way that makes sales almost fun for me!
Bill,
GREAT interview! Love how your brilliant tips and part of your experience have been captured in this interview. Russ did a great job of digging. I will say, that if anyone gets who you are from this interview, they will love a one on one with you, as I have. You certainly were someone that created paradigm shifts for me regarding MY numbers. A plan that makes measurable sense. I love how we quantified what my numbers are… I hope others reach out to you for your expertise. Karen Hoffman-Dream Champion-cofounder, City of Experts
@Karen Hoffman – Thanks Karen! Perhaps the most powerful concept that Bill covers in this interview are the KPI’s or numbers. He has inspired me to schedule time each month to review my numbers so that I am not in the dark about my sales numbers. Thanks for this great comment!
Karen,
“When the student is ready a teacher will appear”. You have an insatiable appetite for learning and growing so that makes us a great team.
Once we begin to create that positive momentum…Dreams do become Reality!
I agree with you wholeheartedly, Russ’ preparation for the interview made the difference. Hat’s off to Russ for creating the tool to share worthwhile know-how so unselfishly with a broader audience.
Great stuff Russ and Bill. These topics are so important to small business owners. Bringing focus to sales and the sales process, so that there results will be predictable. Such a critical thing to focus on. Truly, without adequate sales to support a business, none of the other stuff matters. Yet too many (most) business owners (of all sizes of business) don’t spend the time putting the resources (and time commitment) in place to do the things that you guys discussed here. Those who do are typically doing very well.
Josh
(Thanks for the plug as well!)
@Josh Turner — No question Josh. I think you hit the nail on the head when you say “putting the resources” in place. So often, for me, it is about putting processes in place so that each area of my business is addressed efficiently and with maximum effect. Bill has laid out the groundwork for putting those processes together in this interview. Thanks again to Bill and thank you Josh for adding your analysis!
Bill – I don’t need to tell you how much I’ve learned from you. But I always look forward to the next “great thing” you’re going to share with me that’s going to improve my business, my sales, my success, my life, my outlook, and somehow expand my horizons.
My ONLY regret is that I had to wait half my life to find such a GREAT mentor!
@Denise Lutz — Bill is certainly a model by which I try to conduct my professional life as well! Thanks for stopping by!
Bill and Russ, great job on the interview. I did 18+ years of corporate sales in STL. Sales is a process, should be a continual on-going affair with you and your potential customers. Sales is a numbers game. You need cast a wide net of touch points these days to capture new business; such as emails, email blasting, yellow pages, direct mail, asking for referrals, website, linked in & facebook, networking, telemarketing and in person 1-1 meetings. I am still learning my way in the social media areas.
I also do alot of reading books to look for new formulas and ideas to translate for my business! Just finished Donald Trump “Think Like a Champion” and had some great information. Bill Prenatt is a great mentor for me and I am humbled he asked me to be a part of E4E group. John Eyres-President-Business Connections Consulting
@John Eyres — Great advice John. You are right, understanding all of these “touch points” will lead to greater sales. Thanks for the reminder!
John,
On the social media topic, we have a vast array of expertise that is part of e4e. With our Don’t Fly Alone mentality, much of what you will need for social media will be able to be obtained through people like Russ and other partners as we continue our partner meetings.
Russ and Bill here is an interesting facet of sales http://www.furnituretoday.com/article/536025-Give_Consumers_Time_Space_to_Consider_Mattress_Purchase.php?rssid=20041 that I don’t believe was covered in the interview and my hope is not drag the both of you off topic, but perhaps if you feel it would, you might talk about it in the future discussion or direct me to some information on the subject.
This is an element of each and every sales opportunity and a paradox I believe we all face. In the case of consumers they want to learn from our knowledge and as you mentioned and most importantly want to be listened too, but one of consumers biggest complaints about salespeople is that they want to be left alone and they do not want to be hovered over at least in the case of retail sales.
*My thought on this is much like personal space, some people just don’t know what it is. I believe one just has to know or have really have a feel for it. I think as Bill has said before, it is one of those things that cannot be taught.
Doug,
Your comments and Steve’s comments are both right on Target. In the case of retail sales, what we are talking about is the perception of the salesperson’s role based on previous experience with pushy, inconsiderate, poorly trained sales people.
Perhaps I am naive, I see this as an opportunity to differentiate oneself from that stereotypical salesperson role.
Here’s an approach…hi my name is Bill Prenatt. Welcome to STL Beds. I’m very knowledgable about the products we carry but want to first of all respect the fact that you don’t want me hanging around while the two of you talk things over.
I’ll stop by occasionally to see if you need my expertise, or just give me a hand wave and I’ll be glad to help you in any way that I can. How does that sound to you?
Interesting point, Doug. I remember being in a furniture store helping my mom look for a couple items. The salesperson hounded us and we almost had to literally run from her to one section of the store to another.
Retails sales pros have to strike a balance between hovering too much and being attentive enough to respond when people have a question. They almost have to be mind readers. I don’t envy them.
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