How to Make a $1 Million Dollars in Sales an Interview with Mike Schmidtmann #39

Would you like to earn $1 Million dollars in 2015? Our guest today Mike Schmidtman, tells us how. Mike talks about his passion for hiring, training and developing people through sales coaching and sales training. Further more he explains how success is a statistical event and what it takes for a sales professional to earn $1 Million in sales a year, not sell a $1 million, but earn a million. Mike works with Solution Providers all over the country on management practices to improve sales, margins and profitability. He has some great stories that illustrate his take on sales.

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How to Make a $1 Million Dollars in Sales – Success is a Statistical Event

Mike starts with how to make a $1 Million dollars in sales from a high profile sales professional point of view.

Mike says that top earners simply work backwards to understand what course to embark for making a large number of sales.

what you earn is factor of what you sell
what you sell is a factor what you propose
what you propose is a factor of what you uncover and identify

Mike thinks of this as a Success Formula. He uses this example from his sales training.

Sales Success Formula

Let’s say you want to earn $1M earn…
For $4M in gross profit you will need $15M in sales
Answer these questions:
- how many customers would you need?
- how much do they buy?
- and how fast can you close/ they make a decision?

By working the number backwards you can understand where and what effort is needed to meet your goals.

Know Your Ideal Client

If you can truly understand your industry, you can calculate what’s needed for success. This is not just working harder, this is using your creative abilities. Find a way of generating a deep desire for your products and services. And do this by knowing your customers better than they know themselves.

Sales Training Resources

Mike kindly offered to share a copy of his Behavioral Guide to Sales Interviews. If you’re looking to hire a sales person, or if you’re looking for a new position, you’ll find a lot of value in the guides.

Behavioral Guide to Sales Interviews V2
Mike Schmidtmann on LinkedIn
Mike Schmidtmann on the web
4 Profit 4-Profit is a technology focused advisory services company working exclusively with channel-centric solution providers, manufacturers and distributors.
Mike Schmidtmann Podcast Link on Podbay

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