Business Marketing Advertising

Wall Street is telling a story of shrewd salesmanship by Frank Robertson, attorney-general of Mississippi, in disposing of one million dollars in state bonds. A conference was held and to Robertson fell the task of selling the bonds.

The issue, which was for a tuberculosis sanitarium, was offered at par with 5 1/2 per cent interest. Bankers turned him down flat saying that the terms were too low. Robertson could easily have reported that the thing to do was to wait until conditions were such that the bankers would accept the issue. But he found a way. He created a market by developing a plan whereby he could convince life insurance companies that it would be good business for them to invest because the bonds would help them prolong the lives of policyholders. The plan was effective and he sold the entire issue.

In the same way, when the company passes a particular responsibility to the sales person, it is expected that he will produce results ? not reports as to why it can’t be done.