ENTR-902-B Entrepreneurial Selling - Kellogg School of Management

ENTR-902-B Entrepreneurial Selling - Kellogg School of Management

General Course Information: ENTR-902-B Entrepreneurial Selling: Skills and Strategies Instructor Information: Cheryl Mayberry McKissack President and ...

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General Course Information: ENTR-902-B Entrepreneurial Selling: Skills and Strategies Instructor Information: Cheryl Mayberry McKissack President and CEO Nia Enterprises, LLC

Office: 23 W. Hubbard Street – Suite 200, Chicago, IL 60610 Phone: 312-222-0943 FAX: 312-222-0944 Email: [email protected] Purpose of the Course: This is a course that will introduce you to the basics of entrepreneurial selling and how you can use these skills to persuade people in business, civic and your personal life. The class will focus on the basic fundamentals of sales and review the relationship of customer need identification and the reasons that make people buy. The course will explore sales concepts that will allow you to successfully develop your “asking” skills to persuade your customers and business associates that your idea or solution will make the difference. This course will discuss the strategy and the importance of integrity selling that creates mutual value for yourself and your customers. We will also review how to apply these principles not only in sales situations, but also review how these principles can enhance the quality and value of your life. The course will emphasize sales fundamentals that can be applied to entrepreneurial environments. The class will be based on the following definitions as outlined in the book, “Integrity Selling for the 21st Century” by Ron Willingham. “Integrity Selling”: A win-win customer focused process, driven by honesty and sincerity: Creating mutual value for sellers and buyers Ron Willingham Requirements: Students will be graded on class participation during lecture and class discussions. Students are required to be prepared through the assigned reading and case studies to discuss how the principles have been applied in certain situations. Each student group will be required to complete two deliverables. The requirements of these two deliverables are outlined in the Grading section of this Syllabus. A class final based on a Harvard Business School Case Study on Selling Principles is also required. This is a 5-week course that meets on Mondays for 3 hours once a week. Format: Lectures, Case Studies, Class Discussions, In-Class Role-play, Short Team Project and Final Reading Materials: The readings for this course are from the book titled, “Integrity Selling for the 21st Century, How to Sell the Way People Want to Buy”. The author is Ron Willingham and a set of duplicated articles, chapters and case studies will be provided. Grading: The course grade is based on the following scheme: Two deliverables (done by study groups) -- 25% Final -- 50% Class participation -- 25% The first deliverable will include a role-play session of 6 selling situations. Each group will be given a selling objective and be required to convince the audience of their value proposition in achieving the objectives. The objectives will include focus on the 6-Step System of Selling that

will be discussed in Sessions 1 and 2 and assigned reading. The second deliverable will include a review of a class presentation by a business owner using the customer-focused selling principles. The class will be prepared to ask questions representing the customer’s interest. The student groups will be required to provide and evaluate the presentation in the form of a memo in which you advise your partners if the solution presented meets the needs of the company’s objectives. The deliverables are student group projects and are comprised of teams representative of all class members. Both deliverables will be discussed in class. The members of each student team will grade each other on the basis of each student's contribution to the two deliverables. The intention is to grade this in such a way that an exceptional contributor will receive enough points to raise the course grade. Similarly, a free rider will receive a reduced grade. This assessment will be an element of the final grade; however, the overall grade will be the sole responsibility of the class instructor. Class Final Each student is required to complete a class final that will be delivered at our last session. The final will be based on your assessment of a Harvard Business School Sales Case Study. The final grade shall be based upon your ability to apply the concepts reviewed in class in evaluating the Case Study. Testing formats may include multiple choice, short answer and/or written essay.

Date/Month: May 2, 2005 Time: 18:00-21:00 Session 1 Topic: Introduction to Sales, 6-Step System of Selling and Approach Class Plan: INTRODUCTION TO SALES: The Sales Cycle: The 6-Step System of Selling and Traits of Successful Sales People Ron Willingham, “Integrity Selling for the 21st Century” and “Integrity Selling” Willingham Chapter 1: Introduction and The Four Traits of Highly Successful Sales People Willingham Chapter 2-3: “Selling Is An Inside Job” Willingham Chapter 4: “Interview: Find Out People’s Needs So You Can Offer Solutions” Willingham Chapter 5: “Developing Stronger Interviewing Skills” Willingham Chapter 6: “Show How You Can Fill Needs That People Admit Having”

Class Reading: “Selling as a Systematic Process” – Michael Alter, Amar V. Bhide Harvard Business Review Preparation of Deliverable #1 Guidelines for the In-Class Role-Play with your team members will be provided in this session. Role-play grading will be based on content, creativity and use of sales principles reviewed in class. Each role-play will not exceed 20 minutes.

Date/Month: May 9, 2005 Time: 18:00-21:00 Session 2

Topic: Validate: Cause People To Believe and Trust You Class Plan: Willingham, Chapter 7:“Releasing Unlimited Achievement” Willingham, Chapter 8: “Validate: Cause People To Believe and Trust You Deliverable #1: The first deliverable will include a role-play session of selling situations. Each group will be given a selling objective and be required to convince the audience of their value proposition in achieving the objectives. The objectives will include focus on 4 of the 6-Step System of Selling. The steps will include Approach, Interview, Demonstrate and Validate. Class Reading: “Learning From Losing a Customer” – David Green Harvard Business Review

Date/Month: May 13, 2005 (Make-up Class for Memorial Day) Time: 18:00-21:00 Session 3 Topic: Negotiate: Work Out Problems That Keep People From Buying Topic: The Art of the Close/Closing Techniques That Create Customer Value Class Plan: Class Discussion: Review of Deliverable #1 Negotiation Techniques: “How To Welcome Objections and Convert Them to Opportunities Willingham Chapters 9 and 10: Close: “Get a Positive Decision that Creates Mutual Value for You and Your Customer” Class Reading: “Six Habits of Merely Effective Negotiators” – James I. Sebenuis “Negotiating With a Customer You Can’t Afford to Lose” – Thomas C. Keiser Harvard Business Review “Should You Make The First Offer?” – Adam D. Galinsky “The High Cost of Close Focus” – Max M. Bazerman “The Payoff of Trust” – Iris Bohnet Harvard Business School Negotiation Letter, July 2004

Date/Month: May 16, 2004 Time: 18:00-21:00 Session 4 Topic:

Guest Speakers (TBD)

Class Plan: A leading Sales Executive will discuss their how their sales strategies have contributed to the success of their entrepreneurial ventures. (1 hr.) Deliverable #2: A guest speaker will present their sales proposition to the class. The class will be prepared to ask questions regarding the customer’s interest. The study groups will be required to provide and evaluate in the form of a memo in which you advise your partners if the solution presented meets the needs of the company’s objectives.

Date/Month: May 23, 2005 Time: 1800-21:00 Session 5 Topic: The Value of Integrity Selling Concepts in Your Life Class Plan: Sales: Ethical Issues in Today’s World Debrief on the course Class Final: Each student is required to complete a class final. The final will be based on your assessment of a Harvard Business School Sales Case Study. The final grade will be based upon your ability to apply the concepts reviewed in class in evaluating the Case Study. Testing formats may include multiple choice, short answer and/or written essay. Case Study: “Siebel Systems: Anatomy of a Sale”, Part 1, 2 & 3 – John Deighton, Das Narayandas Harvard Business School Case Study