The number one problem for so many entrepreneurs and consultants is the inability to grow the business out of cash flows. A good line of credit is helpful, yet sales people are not billable so they have to sell enough to cover their nut almost immediately. Building a sales organization is a sales management skill set.
There are only a few ways to drive revenue - New Customers, Existing Customers, New Products, and More Products. Any market with visible potential is a competitive market.
Can't realize target prices? Value is always a preferred method, yet requires the targeting of differential value relevant to your buyers. In a high supply low demand world, you need be a source of quantifiable business advantage. New features don't cut it, so stop selling that way. Sell money instead.
Is this you? You are the subject matter expert with deep domain wisdom. Nobody drives business like you - you're the bomb. You keep adding more subject matter experts, and you make more sales, yet profits decline and your hours pile up. And every time you hire a sales rep, they crash and burn. If this is you. we have a 5 step program that works and just might help you win more and grow.
Customer Loyalty - the opposite of the problematic Customer Churn. Customer satisfaction sounds great, yet "satisfied customers leave in droves.". You need loyal customers that stay. While NPS gives some insights, it tells you nothing about what your account teams are doing that is diagnostic, predictive, or prescriptive. We partner for insights to get ahead of the curve.
We use a simple measure for company productivity, and for sales productivity. F/or the company, take total revenue and divide it by headcount. You can parse this in many ways, but be consistent. The starting point is your trend line for revenue per employee growth, then look at revenue per earn growth. We can help you with the KPIs needed to isolate the real problem.
A sales organization needs to be accountable for the things in their control. There must be rewards for the suff they do well and drive revenue, and there must be consequences for failing to deliver on the necessary. Behind accountability are the leading metrics known as Productivity metrics, the stuff to be measured, and Performance metrics, the reality of delivery. People often say the sales is a numbers game, to which I agree, yet add "Yes, but which numbers".
CFOs and Executives hesitate when forecasts are persistently inaccurate. Uncertainty results in delays which further undermines competitiveness and confidence. Compensation design can support forecast accuracy yet often does not. At the sales rep, sales director, and consultant level, deal forecasting is essential for personal and career success. More…
Great sales organizations use a consistent dynamic adaptable sales process. The benefit of this is a 10% revenue and close rate advantage over those that don't. Many companies adopt the process that comes with the air CRM. others invest in custom development. The key is to have one that works, can be used for coaching, and delivers results.
Every company goes through a slump once n a while. It can be the players, yet if the company growth is now done to less than a 10% growth rate, you probably have a strategy problem. In most cases, the market no longer sees your offerings as relevant or valuable in relation to their needs and your competition. Before you fire the sales team, get a second opinion.
Many sales people are overwhelmed with administrivia and job polluting duties that do not produce revenue. Some of those duties reduce direct cost, at the expense of opportunity cost. Sales is a leveraged asset, so a $50K base, Total Target Comp rep is expected to produce say $500K in revenue, has to produce $100/hour in revenue to make plan. Having them do hot shot deliveries, or custom brochure development is a waste of time, money, and effort. Wasting your hunter's time on non revenue bearing items destroys morale, and increases turnover. And thats expensive.
Activity is at the heart of sales productive and performance. Do the wrong things, and nothing comes of it, wasting precious resources. Do the right things well, and there is a chance that success will follow. You can not manage outcomes, only report on them and try to understand them. Front Line sales managers and individual sales people must deliver the activity volume and quality to produce results. Quality ultimately matters more, meaning research, preparation, and effective interpersonal engagement.
People often say the sales is a numbers game, to which I agree, yet add "Yes, but which numbers". In general there are two main categories of numbers, Leading and Lagging indicators which affect Timing, as well as Activity and Resource numbers that help us understand the results of our investments of time, effort, and money.