A Frustrating Problem Costing You Time and Sales
Recently I met with a new sales rep who’s been in sales for a little over six months. He’s made two sales; he should be closer to 30. I started by asking how many sales calls he’s been making, how many proposals he’s presented, what he’s been saying, and what his overall process has been. It didn’t take long to identify his problem.
Yacht Brokers and Surveyors – Collaboration to Guarantee a Happy Customer
I was recently invited to do a presentation on the relationship between yacht brokers and marine surveyors. The idea sounded simple, how can a surveyor and a yacht broker work together to keep the customer happy? My gut reaction was to focus on communication. By improving communication and foster transparency there should be no surprises along the way, easy enough.
Your First Conversation with a Prospect
The most important part of a first conversation with a prospect is to get them talking as much as possible. The 80/20 Rule applies here. Now depending upon whom you’re talking to, what kind of initial impression you’ve made, when you catch them, their personality type, etc., you may or may not achieve 80/20, but that’s the goal: them speaking about 80% of the time, you speaking about 20% of the time. And, when you do speak, most of that will be in the form of asking well-thought-out questions that both separate you from your competitors and help you determine the prospect’s needs, wants, and desires.
Board Spotlight: Why CPYB?
The YBAA board asked me to do a presentation at the recent YBAA/IYBA summit in Fort Lauderdale on why I felt the CPYB designation was important. Ironically, they were using the invitation as a ploy to ensure I attended the event where they presented me with the Vincent J Petrella Chairman’s Award for 2022. I’m still not quite sure what I did to deserve such an honor.
Board Spotlight: Post-Pandemic Co-brokerage
The pandemic is over and as a result we are starting to see changes in the marketplace, and we all had better be ready for them. We are not trying to spread pessimism, but when times get tough being overextended can be very dangerous.
How to Massively Increase Your Business
There’s an idea I share during my speeches that massively increases the business of everyone who follows it. It is not for the faint of heart and it takes some work but, f you’re willing to do it, it will significantly grow your business. Many of you are going to groan, wince, swear, or do all three when you hear this. Few people will be willing to do it. Please don’t be fooled by it’s simplicity, after all, most problems have simple solutions, we as humans just like to complicate them so we have an excuse for a lack of success.
Right Whale Protections Pit Rubio and Scott Against Environmentalists
Proposals to protect endangered right whales from extinction have put Florida's two U.S. senators at odds with environmentalists. Senators from Florida and the Carolinas are criticizing a federal plan to change seasonal speed limits on vessels near ports including Jacksonville to prevent collisions with the vanishing whales, the Florida Times-Union reported.
Ocean Cleanup Initiative: Successful Updates
Clean water and air have been making big news for a while now. Lots of alarming statistics and hand-wringing surrounds the topics of clean waterways, healthy oceans and reduced impact of mass shipping, but every day it seems, we’re losing the battle. That’s why it’s refreshing to learn about companies whose dedicated efforts are making a difference, like The Ocean Cleanup.
Sandy Hook Yachts To Become Regal Boats Dealer for New Jersey
"We are very excited to announce that Sandy Hook Yachts is now a dealer for Regal Boats," said Dan Furnback, Managing Partner of Sandy Hook Yachts.
Massachusetts Maritime Academy Foundation Commit $3M to Launch GE Fellows Program
The GE Foundation today announced a $1.5 million grant to the Massachusetts Maritime Academy (MMA) Foundation with the goal of providing continued support to diverse students entering MMA with studies focused on clean energy.
Board Spotlight: Let Your Clients HEAR You
In our wonderful world of boat and yacht sales, we are creating relationships and trust. Our communication needs to include the nuances of voice inflection, pace, feeling, and intent.
Sustainability – The Real Story
Our world is facing two existential crises at present. The first immediate concern is to prevent further global warming and to do that we have to cut down on ‘greenhouse’ gases – fast.
Sales IS still a Numbers Game
These days a lot of sales ‘gurus’ try to refute the fact that sales is still a numbers game. They say things like, “It’s not about the numbers, it’s about the relationships.” Well, they’re right on the latter part of that statement, it is about the relationships but, in order to get the number of relationships you need, you have to be out talking to a lot of people. It’s simple, the more people you talk to, the more business you will do; even a blind pig finds corn.
Engel & Völkers Yachting Announces Partnership
As sole Americas broker for the Italian luxury yacht company, Engel & Völkers Yachting will debut Gagliotta Yachts’ classic cruising vessel at the Fort Lauderdale International Boat Show.
ABYC Names Sarah Devlin as Accreditation Director
The American Boat & Yacht Council (ABYC) has named Sarah Devlin as the new Accreditation Director to manage and promote the ABYC Foundation’s expanding Marine Trades Accreditation Program (MTAP), which launched earlier this year.
MRAA Launches New Podcast
The Marine Retailers Association of the Americas (MRAA) recently launched a new podcast, “The Boat Biz,” hosted by MRAA president Matt Gruhn.
Putting Together an Annual Sales Plan
It amazes me how many salespeople don’t have an annual sales plan. Of those that do, many just put it together once and barely, if ever, look at it again the rest of the year. We all know that people with written goals and a plan for their achievement, who focus on those goals continuously, are much more likely to hit their goals than those that don’t. Yes, it’s some work up front, and during the year, but the payoff is tremendous. Here are the steps to set up your annual sales plan.
Drift Energy: Are Hydrogen-Powered Yachts In Our Future?
Hydrogen power has been a hot topic for several years, especially in the auto industry. Not to mention, many European countries have set energy transition goals to net-zero carbon emissions within the next 30 years. Some people will tell you that the reality of an economical, accessible, general market solution for hydrogen-powered cars and boats is still far off in the future. But UK-based Drift Energy is ready to bring clean energy to sea and prove them wrong. This July, the firm launched a vessel off Essex, England that generated hydrogen while sailing using only wind power. They managed to store it for later use as well.
Board Spotlight: The Value of Serving Your Clients
Our industry, like many, has experienced ebbs and flows over the past number of years, along with a lot of change. With the increased interest in boating, the supply chain issues, limited inventory, and continued inflation in prices, it is more important than ever to keep your clients’ best interests at the forefront of everything you do.
Board Spotlight: Practice what you Preach
I don’t see my job as just to be a great broker, I see it to be a knowledgeable resource to my clients about the boating lifestyle. Getting out on the water in our own boat allows us to understand and relate to our client's needs and travels even better.
Has selling changed? Will the latest tech and approaches help?
Be careful when people start talking about tricks and techniques, or start using acronyms that muddy the waters and complicate issues. Einstein said, “If you can’t explain something in a single sentence, you don’t understand it well enough.” Sales is no exception. Sales is simply talking to enough of the right people the right way. Period. So, the real question is: Are your salespeople making enough calls to talk to enough of the right people, and when they do talk, are they asking and saying the right things? Of course, along with plenty of listening.
That's a Wrap on YBAA University 2022
There goes another fantastic YBAA University! Thank you to everyone who attended including our sponsors, YBAA Board Members, as well as new and old YBAA Members and CPYB certified brokers.
Dual Agency: Profit Or Pitfall?
How do you negotiate a sale keeping the best interests of both parties in mind? How do you get the highest price for your seller while getting the best price for your buyer? Who does the law say the Broker represents if there is a conflict? These kinds of conflicts can lead to difficulties if either party feels impacted by your handling of the sale and these pitfalls are what we all want to avoid.
Why Your Sales Numbers Aren’t Good
No matter the industry or organization, they all seem to have a historically slow time of year, the summer and holidays are usually the biggest. In addition, changes in the economy, the market or industry, pandemics, and supply-chain issues can also lead to slow sales.
Change is Inevitable in Every Business Environment
Over the years I’ve experienced quite a bit of change in different industries. Some good, some bad, some driven by greed, and some driven by need.
Report: New Powerboat Sales Normalizing, Continue to Outpace Pre-Pandemic Levels
The NMMA reports new powerboat sales through Q1 2022 are showing signs of normalizing following two years of historic growth. In the first quarter, new powerboat retail sales totaled 54,000 units, down 20 percent compared to Q1 2021, while continuing to surpass pre-pandemic levels, up 20 percent from Q1 2019’s 45,000 units.
Gowrie Group Makes $50,000 Donation to US Sailing’s Siebel Sailors Program to Support Diversity & Inclusion in the Sport of Sailing
In support of our longtime partnership with US Sailing, the national governing body of the sport of sailing, Gowrie Group is proud to make a $50,000 donation to the Siebel Sailors Program.
Massachusetts Kids Boating & Fishing Week
The Massachusetts Marine Trades Association (MMTA) is happy to announce that “Massachusetts KIDS Boating & Fishing week” will take place from June 4 to 12, 2022. This important effort encourages and promotes youth boating and fishing events around the state.
Avoid the Summer, and other Sales Slumps
No matter the industry or organization, they all seem to have a historically slow time of year, the summer and holidays are usually the biggest. In addition, changes in the economy, the market or industry, pandemics, and supply-chain issues can also lead to slow sales.
Yacht Chart Market Outlook
With revenue from yacht charters enjoying Y-o-Y growth of 4.9%, the market is expected to be worth US$ 17.57 Bn in 2022. The global yacht charter market is anticipated to reach a valuation of US$ 28 Bn by 2031 progressing at a healthy CAGR of 5.3% (2022-2031).
Proper Handover of a Newly Sold Boat
As Yacht Consultants, we are not only selling boats, but we are also selling dreams. Many of our buyers have researched for years, traveled to many boat shows, and carefully studied all the various brands and options before deciding which boat to purchase.
How to Stand Out in Business and Sales
These days it’s extremely easy to stand out in business and sales. Work ethic, sales skills, follow-up, and attention to detail are all at historic lows in many sales forces. Here are some ideas that will help you stand out from all salespeople, even the best. Some of these are tips for standing out among other salespeople from a client perspective, others are tips for standing out from a peer perspective.
Over $23,000 Raised for Sails Up 4 Cancer at the 2022 CT Spring Boat Show
The 6th Connecticut Spring Boat Show helped to raise over $23,000.00 for Sails Up 4 Cancer over the course of the 3-day event held April 29 - May 1.
How to Hire
After people skills, these are the key character traits. These can’t be trained; people have them or they don’t. You have to look for these and test them in your hiring process.
No Time for Complacency
The marine industry globally has been on a strong run for nearly two years now. Many, if not most, new boat manufacturers are reporting record backlogs of sales; some stretching into 2024. In the US, nearly half of these new boat buyers are first-time boat buyers. Clearly good times for the boating industry!
Professional Development – The Real P.D.
Last month Eric Smith wrote a great article about mentorship, taking and giving advice, and the professional benefits of mentorship. I’m going to continue to explore this “professional” theme. This month we will dive into professional development.
Yacht Brokers Association of America to Host Annual YBAA University in Providence, Rhode Island
The Yacht Brokers Association of America (YBAA) will host its annual YBAA University (YBAA U) in Providence, Rhode Island Thursday, July 14, 2022.
Yacht Brokers Association of America Launches The Guide Online
On March 24, 2022, the Yacht Brokers Association of America (YBAA) launched its online version of The Guide—a reference and training tool for the professional practice of yacht brokerage and sales.
