Let me tell you about Trace, the owner of Omega AutoParts, who needed to know the true profitability of his sales.The problem is that Trace purchases inventory from so many different sources, so he doesn’t know what the true cost of his inventory is. He can buy the identical part, for instance, with as much as a 30% gross margin difference between a drop ship price with a 3-7 day lead time, and the price from a local warehouse because he’s got to have the part delivered the same day. As a result of the different ways Trace acquires inventory, the real profit on many of his sales is unknown. And it remains unknown until the true cost of his inventory is reconciled at the end of the month on his balance sheet. Until that time, his financials, check-book, and reports just don’t add up. So for 29 days out of 30, Trace is operating in the dark hoping that somehow he’ll be profitable at the end of the month.Because Trace’s business operates on razor thin margins, he realized that he needed to turn the lights on and expose the true cost of goods sold when one month a ½% swing in margin wiped out half his entire net profit. So Trace was relieved to discover that ERP Software was able to provide a solution that allows for up to 14 different vendors costs per part. Now Trace’s purchasing manager can create purchase orders with accurate costs. And Trace’s financials, check-book, and reports all finally match so he can run his business with confidence. But that’s enough about Trace, how do you establish the COGS today?

(click for Insight Storytelling Guide-Template)

Watch - Read Story

BBVA: Practice- Do The QuizPractice – Answer QuestionsClick the Quiz button to edit this object

Click here to see the a sample eLearning Program & not just a ppt.

Problem Questions

Learn - Discovery QuestionsEvidence How do you measure your COGS today? Do you buy drop shipments and also buy from local

warehouses on the same line?

Impact What’s the price difference?

Evidence Do you buy the same inventory from different suppliers at different prices?

Impact What’s the price difference?

Evidence Do you need to make adjustments to the inventory value when you reconcile your financial statements at the end of the month? If so, how do you know your true cost of goods sold at the time of the sale?

Impact What effect can that have on your margins? What are your total sales? So it could be costing you $x?

Confirm So, if I understand you situation correctly…

Solution QuestionsEvidence How have you tried to solve this in the past?

Evidence Would it help you to determine your true profit if you had the ability to list 14 different vendor costs per part?

Impact What % do you feel this capability could reduce the cost of not measuring your true COGS?

Confirm So the potential value of this capability could be $X?

(click for Discovery Questions Instructions & Template)

Practice - Instructions1. Make sure your webcam is plugged in2. Press record on the next slide3. Deliver the story in your own words in

approximately two minutes of less4. Once you’ve finished, click send and fill in your

name, your email, and the email of your manager.

See instruction video below

This was an example of one of the five potential micro eLearning Sales Mastery tutorials.

Every two weeks, for example, a lesson will be sent to the sales team. These lessons are designed to take less than 15-minutes to complete. So in under three months, you can feel confident that your sales team will be able to deliver the top five key messages/insights based on the best practices of your star performers.

Helping your reps to articulate value is the best way to increase revenue, because “the #1 reason why reps fail to hit their quota is their inability to articulate value” (source: survey of sales leaders by SiriusDecisions).

How we can help:1. Create the Videos: We guarantee to improve the key message/insight told by your star

performer by 2-times and we will make the message sticky by converting all star performer customer stories into engaging videos (example One & Two)

2. Training: We will train your team to tell insight based stories (template) and ask effective discovery questions (template) based off of our best-selling book Insight Selling.

After completing this program, your salespeople may, for example, share these stories with customers, or they may deliver these stories through a series of discovery questions. But whatever they choose, it won’t happen unless they practice, and that’s why each lesson ends by asking your salespeople to record themselves delivering the story in their own words.

Get started on Sales Mastery today and help your team achieve quota (click contact).

Micro eLearning Objectives