What is Expert sourcing and why ?


What is expert sourcing ?

Expert sourcing is the act of performing a job directly though a best local, expert resource through an "open invitation".

Why to expert source ?

New economic paradigm force businesses to shift from Cost plus selling to value or solution selling . Expert sourcing is an effective way to transition from Cost Plus to Value selling. Expert sourcing  is a bi product cloud sourcing and a derivative of  crowd sourcing . Crowd sourcing more info ( video )  

What is open invitation?

Open Invitation  is a broadcast  to an expert group of people, it gathers those who are most fit to perform tasks, complex problems and contribute with the most relevant and fresh ideas to benefits from their inputs.  Not everyone makes the cut, only true experts to insure our network is paralleled to none.

What is the new economic paradigm ? 

Are your reps struggling with “Your Price is Too High”, or are they facing roadblocks trying to navigate their way into the "C-Suite"?  Marketing and selling in today’s environment of economic recovery means being able to successfully employ new techniques  and apply the right paradigm shift, from simply uncovering basic needs and providing solutions, to truly partnering with clients, sometimes from the C-Suite on down. We no longer can sell based cost plus model  (determining payment based on the actual cost of production plus an agreed-upon fee or rate of profit) 

Value based selling In the new economy 

Before delving into the subject, we researched some definitions to secure the meanings of value selling. Wikipedia includes value selling under the definition of "solution selling" and relates to the success of this type of selling as the "resolution of pain."

As a result, Solution Selling has become more broadly defined to include dimensions of "sales process," "competitive selling" and "value selling".

Solution selling is a special approach to sales. Rather than just promoting an existing product, the reps focuses on the customer's pain(s) and addresses the issue with his or her offerings (product and services). The resolution of the pain is what constitutes a true solution.

This precise definition is very accurate when considering how Keith M. Eades, author of The New Solution Selling, defines a solution. In his book, he defines a solution as :

"a mutually shared answer to a recognized problem, and the answer provides measurable improvement."
This translates to direct communications and  collaborations among Clients, Suppliers, Builders ( Installers ) and Experts (Thought leaders ) 

How to increase communication and collaborations ?

The techniques differs from industry to industry and  their solution provider but the goals and tasks are  the same .  By creating and ecosystem that promote and deploy increase in Effectuation , deployment velocity and quality and at the same time reducing cost.    

Pricing strategy

The purpose drives Strategy, which drives Value Marketing, which drives Value Selling, and only then can we Value Price.  Pricing, indeed, is the last part of the chain

 This is why most companies can’t do it—they are unwilling to make the changes in all of the other areas.

An important point about cost-plus pricing is that most organizations are comfortable with it,” This like saying  is a lot of people are comfortable being fat, but that doesn’t make it optimal. The  notion that “If an organization only sharpens the quality of its costing data, it is always in a superior position" also is rejected. By becoming more accurate cost accountants isn’t also going to make a company become better pricers.  Toyota doesn’t even use a standard cost accounting system, but rather a process they call target costing. 

Customers buy results, not rhetoric.  Moving beyond the rhetoric of value will enable business to prove those results to customers.

Conversion of cost to value

Quality is never an accident. It is always the result of high intentions, sincere efforts, intelligent directions and skillful execution. It represents the wise choice of many alternatives.

Implementation of what we learn

The bottom-line message? The key to success is the implementation of what you learn.

Within the seller's markets and adjacent to them, learning continuously, improving continuously, understanding trends, and striving constantly to be perceived as having market expertise as a key differentiator. These qualities will position the seller in the Master Seller quadrant of Cathcart's Mastery Grid. Armed with these traits, instead of hearing "I'm interested" from customers, which is what 80% of sales people hear, they will hear the customer say "I'm sold."