12 External Wholesaler Skills: Definition and Examples

By ResumeCat Editorial Team
Updated June 7, 2023

In order to be a successful external wholesaler, there are a few key skills that you will need to master. This article will provide definitions for twelve of those skills, so that you can better understand what is required of you.

Wholesaling

Wholesaling is the process of selling goods or services in large quantities at a low price. businesses need it in order to increase their sales and profits.

B2B

The B2B skill for external wholesalers is the ability to identify and contact potential customers who may be interested in the products or services that the wholesaler offers. This skill is important because it allows the wholesaler to build relationships with potential customers and generate sales.

Business to business

The ability to sell products or services to other businesses, rather than to individual consumers. This skill is important because it allows businesses to generate revenue by selling their goods and services to other companies.

Business development

The ability to develop new business is essential for any external wholesaler. Without this skill, it would be difficult to build relationships with new clients and grow one's business. This skill involves being able to identify potential customers, understanding their needs, and then developing a plan to approach them. It also requires excellent communication and negotiation skills in order to persuade potential customers to do business with you.

Client relations

The ability to develop and maintain positive relationships with clients is essential for any external wholesaler. This skill is needed in order to build trust and rapport with clients, as well as to effectively communicate information about products and services.

Communication skills

External wholesalers need excellent communication skills in order to build relationships with potential clients and explain investment products clearly. They must be able to listen to client needs and tailor their pitch accordingly. Strong written communication skills are also important for creating marketing materials and proposals.

Presentation skills

The ability to give presentations is a key skill for any external wholesaler. This is because they will often be required to present their products and services to potential clients in order to win business. A good presentation can make the difference between winning and losing a deal, so it is essential that external wholesalers have strong presentation skills.

Negotiation skills

Negotiation skills are the ability to persuade, convince, or bargain with others to reach a desired outcome. This skill is important for external wholesalers because they often need to negotiate with customers and vendors in order to get the best possible price for their products.

Time management

Time management is the ability to plan and organize your time in order to achieve specific goals. As an external wholesaler, you will need to be able to manage your time effectively in order to meet with clients, prospect for new business, and complete administrative tasks.

Organization

Organization is a skill that is important for an external wholesaler because it allows them to keep track of their sales pipeline and manage their time efficiently. An organized wholesaler will be able to prioritize their tasks and make sure that they are working on the most important projects first. This skill is important because it can help an external wholesaler close more deals and increase their sales.

Prioritization

The ability to prioritize is a skill that is absolutely essential for an external wholesaler. This is because an external wholesaler is constantly bombarded with requests from internal sales representatives, clients, and prospects. If they are unable to prioritize efficiently, they will quickly become overwhelmed and bogged down in work.

An external wholesaler needs to be able to prioritize in order to:

-Efficiently manage their time

-Ensure that the most important tasks are completed first

-Avoid becoming overwhelmed by requests

-Meet deadlines

-Provide quality service to clients

Prospecting

Prospecting is the process of finding potential customers or clients for your business. It is an important skill for external wholesalers because without it, they would have no one to sell their products or services to. By prospecting, they are able to find people who may be interested in what they have to offer and then contact them to try and make a sale.

How to improve external wholesaler skills

In order to improve external wholesaler skills, there are a few key areas that need to be addressed. First, it is important to build strong relationships with internal stakeholders such as sales leadership, product management, and marketing. This will ensure that the wholesaler is kept up-to-date on product changes and strategies, and that they are able to provide feedback to these teams on what is working well and what could be improved.

Second, it is crucial to develop a deep understanding of the customer base. This means taking the time to learn about their needs, pain points, and goals. Once this understanding has been established, the wholesaler can then put together targeted pitches and presentations that will resonate with the customer.

Finally, it is important to always be learning and growing. This means staying up-to-date on industry trends, attending relevant conferences and webinars, and reading industry publications. By continuously expanding their knowledge base, external wholesalers will be better equipped to handle any challenges that come their way.

How to highlight external wholesaler skills

When you are external wholesaling, it is important to remember to highlight your skills. This means that you should focus on what makes you unique and what sets you apart from other external wholesalers. For example, if you have a strong network of contacts, make sure to mention this. If you are especially good at cold-calling or generating leads, be sure to let potential clients know. Whatever your strengths may be, make sure to emphasize them when you are external wholesaling.

On a resume

In order to highlight your skills as an External Wholesaler on your resume, you should include information about your ability to develop relationships with clients, your knowledge of the financial industry, and your sales skills. You should also include any relevant experience you have in the financial industry, as well as any awards or recognition you have received for your work.

In a cover letter

In your cover letter, be sure to highlight your skills as an External Wholesaler. Include your experience working with clients, your ability to build relationships, and your knowledge of the products and services you offer. Also, emphasize your communication and presentation skills, as well as your ability to close deals.

During an interview

When interviewers ask about your skills as an External Wholesaler, be sure to emphasize your ability to generate new leads and cultivate relationships with potential investors. Describe how you use your industry knowledge and understanding of investment products to identify opportunities and create custom pitches that meet the needs of your clients. Also, highlight your success in building a book of business and achieving quotas. Finally, stress the importance of teamwork and mention how you often collaborate with Internal Wholesalers to provide potential investors with a comprehensive view of our products and services.