All businesses need a written yearly Sales Plan. Just having commissions and giving a sales number to achieve is not a true measure of performance. There are to many salespeople that are allowed to survive on old established accounts rather than continuing to prospect for new business. A plan keeps the direction of the sales force in focus.
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The first step is to make sure the Vision of the company is well known and everyone buys into it. A great vision is self directing. Get your sales team input in what is needed or lacking to achieve that Vision and take action. Remember a Mission is what you are today, the Vision is what you want to be when you grow up.
Next is to set goals. They must be SMART quantifiable goals (Specific, Measurable, Attainable, Realistic, and Timely). Make sure there are short term quarterly goals and yearly goals. Total Sales, Total calls, new products to Current Customers, Average Gross Margin/Sale, Average Sale, New Customers / Month and Presentations/month should be part of the compensation plan. There must be strategies behind every goal. You cannot just say you want or expect 10% growth, there has to be at least 4-5 strategies behind it.
By nature, sales people are competitive. So post those results for everyone to see and have smaller bonus prizes or contests to keep the competitive juices flowing. In this way, your sales people will be more self managing and you will be amazed at the results.
Allan Himmelstein
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- The value I receive from TAB includes having access to the ideas and suggestions of successful CEOs in a confidential setting; having the opportunity to brainstorm with TAB members and with the facilitator, Allan Himmelstein, whose business experience broadens my perspective and allows me to see new opportunities and ways of doing business that I would never have thought of without his expertise. Having deadlines and expectations from the TAB group is also a good motivator to keep things moving from conception to production. All in all it’s an invaluable resource to me and is making a significant difference in my business.
Barbara Moss
President
Moss and Company
Scottsdale, AZ
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I would very much agree will the concept of gaining leverage through the use of visibility and transparency. Not just for the competitive reasons but also for the accountability it lends when the sales manager isn't focused on a particular metric.
Posted by: Richard BAlius | February 18, 2009 at 08:58 PM