Sales accountability is one of the most important things to consider when running your business. Your salespeople are at the core of your business. They drive traffic to your products and services. How can you create accountable salespeople? Watch what they do!
Hiring great salespeople is essential to the success of your business. These employees are dealing with the bulk of your business. The stats surrounding hiring salespeople are troubling. With 70% of hires in the sales field determined ineffective, and only last 18 months, it can be difficult to find great team members. Could your top salespeople be your worst salespeople? In this video, Matt Garrett describes how your worst salespeople may look the best on paper.
Finding the right people to sell to can be challenging, whether you are just starting as a business owner or if you have owned your own business for a while, and your target demographic is just not working out. Selling to the right people is vital to the success of your business, as these are the people who drive business back to your company. So how do you understand your target market?
Finding the right customers is crucial to your business. There are a few things that you need to consider when you’re thinking about who to sell to. I’ll share a brief story and discuss how we solve this problem here at TGG.
True sales planning is one of the most important things that a business can do each year. It forces business leaders to think through – in significant detail – what is necessary to accomplish their business goals.
Sales planning is more than a tactical plan set from on high: “Your quota is $1MM, now go sell!”
Instead, it’s about planning to sell profitably.
Selling profitably is something that is not as straightforward as it seems. We see examples all the time, in companies big and small, that believe they are selling profitably and selling well–but simply are not.
There are examples of strategic decisions to sell certain products or services at lower margins or even at a loss. These may include gaining traction in a new market, gaining a marquee client in a new industry, or an initial sale with high likelihood of highly profitable add-on services.
But these examples should be few and far between and only done based on a specific plan, not because you didn’t realize it was an unprofitable sale.
Establishing a plan for business growth in the coming year requires thoughtful planning. An objective review of your sales strategy and tactics, and building a sales plan are a key to the success of your business.
We offer some tips on what to contemplate when building a sales strategy recognizing that as your year unfolds, the strategy and goals may change. The sales metrics and milestones you establish should be reviewed throughout the year to ensure they remain relevant to your overall company goals and to the changing environment.
The single most important element in the forecasting process is the Sales Forecast. Generally, Sales drives everything else; it is what determines the expense spending plan. If the company is a manufacturing company, the sales forecast will drive the production plan.
There are several different ways to approach Sales Forecasting. Typically it starts with the Sales Department figuring out how much product they can sell in the following year. Sales people are naturally optimistic by nature, usually overestimating achievable sales. There are several factors that can impact the forecast: