Do you have any advice for someone looking to make more money in outside sales? I am interested in increasing outside sales any way I can. I have been selling software and technology solutions for 10 years and usually make very good money but 2008 and 2009 were pretty rough. I feel like I have lost my mojo and want to get back on track for 2010.
- Kristin
Dear Kristin,
Great question, I applaud you for wanting to improve and try new things. I especially like the fact that you did not bring up the economy or your company. When it comes to increasing outside sales you can not control economic cycles, its even debatable if politics and stimulus packages have all that much effect on economic cycles. All you can do is focus on maximizing your personal economic cycle and if the economy goes up you will just make even more money.
The fact of the matter is, when it comes to increasing outside sales your company and product are things you can't control. Take a step back and look at super star professional athletes that are drafted or traded to terrible teams some start whining and complaining right from the start causing their situation to be much worse others just focus on what they can control and make the best of it. It is the positive players that make the most out of their careers. I'm not saying "don't keep your options open for a better situation" but I am saying focus 99% of your efforts on the basics of your craft "selling" and other teams will come knocking with better offers and products if that is what you need.
Kristin, you are well on your way to increasing outside sales in 2010. Here are some tips that may help you make this a great year.
Focus: when it comes to increasing outside sales focus is knowing what NOT to do. In sales it comes down to the 80\20 rule. 80% of your time is spent on things that do not bring in commissions. Try your best to flip this ratio upside down and you will stand a good chance at an up to 400% increase in productivity. Some areas that can help you stay focused are creating a check list each day of what you need to get done. Do "busy work" like expense reports during times when you are less likely to generate leads or closes. If you need to travel for business, realize that you have already sacrificed that time and try to do as much as you can with your down time on the road. I personally never watch TV in hotel rooms, the way I see it is no matter how hard I try its not going to be as good as being home so I might as well make cash while I'm stuck in a hotel.
Break up with your relationships that are not going anywhere: I don't mean your boyfriend, I'm talking business here. 2008 and 2009 got many people in the bad habit of falling in love with deals that never close this does nothing toward increasing outside sales and wastes a ton of time you could be spending on finding new deals that will close. Don't worry about spending less time on those accounts and that causing you to lose the deal. The fact of the matter is the sale is going no where and you need to let the client know that you need to better use your time. Work out a process and a time line and stick to it. Even the best sales people in the world can be clobbered by a rookie that uses a structured plan that has set times for when to walk away from stalled accounts. If you change nothing at all except start working hard time lines with your deals you will start increasing outside sales in the first 30 days. The trick is to not be in love with your pipeline, its a new year and a new decade, time to clear out the dead wood and bring in fresh new prospects.
Before you begin to lay out your plan for 2010, you first need to analyze:
•YTD Business…specifically who did you close; what did they buy; where did they come from; and what was the average dollar value of the sales/transaction?
•WIN Rate…what is your win rate when presented with a qualified opportunity?
•Are some months or quarters more prolific than others?
•Discounting…what did it cost you in 2009?
•Vertical Markets…are you having greater success in one vertical versus another?
•Existing Pipeline…who won’t close, that you will be carrying over into 2010?
•Products Offerings…existing products and/or services, new products and/or services and planned price changes?
•Existing Customers…what ‘haven’t’ they purchased; why would they need it; and who do you need to speak with in order to initiate a sales cycle?
•2010 Compensation Plan…what will your sales revenue requirement be in 2010?
•Personal Income Requirement…what do you want to make in 2010?
Hope that helps.
-A.
0 comments:
Post a Comment