Showing posts with label Leveraging. Show all posts
Showing posts with label Leveraging. Show all posts

Tuesday, 16 August 2011

Increase Sales by Leveraging Down Economic Times to Build Your Business Results


Are you thinking that the economy is terrible and sales are going to the dogs? Guess what? Many of your competitors are thinking this exact thought or something very similar. Did you know that down times are the best time to increase sales not to mention to improve your own sales skills.

Of course, by taking this attitude means that you will need a plan of action by knowing your existing sales statistics. Small Business Sales Coaching Tip: : Do not confuse motion with progress and activity with results as a close friend of mine has often stated.


What are you sales numbers or sales stats?
Do you know how many dial ups you need before you can reach someone?
Do you know how many people you reach to secure an appointment?
Do you know how many appointments turn into requests for presentations?
Do you know how many presentations actually convert into earned business?
Do you know the sales value of your customers?
Do you know your average sale?
Do you know how much time was required to earn the sale?

Small Business Sales Coaching Tip: If you answered No to any of these questions, you need to reread the previous coaching tip. Also, it helps to calculate your numbers based on 100 call ups or contacts.

Why so many professional sales people give up during down economic times is that they do not know their sales numbers. This ignorance is a killer and probably stops most sales professionals from reaching their goals to increase sales. Small Business Sales Coaching Tip: Knowing your numbers is part of your sales skills.

There is an old adage if "you cannot measure it you cannot manage it." When you consistently measure your actions, you can track your results.

For example, I know that every time I speak, I secure one client within 6 months. The average value of the client ranges depending upon the needs of the client. However, if I want to increase sales, then I need to increase speaking engagements.

Years ago, I constructed a simple business model, MSP, that helps to keep my focus on my sales numbers and consequently sales skills. For example, a speaking engagement is a Marketing activity. This specific action for me generates one Sale at XX Dollars. If I want to increase my income (Profits), then I must increase the number of speaking engagements. When you understand and more importantly use your sales statistics, you will not only increase skills, but probably improve your own sales skills.




Take this free sales skills assessment to help you increase sales.

Is your business facing inconsistent or insufficient cash flow, lackluster sales to poor productivity? Maybe some exercise at the sales coaching training gym will get you to where you want to go?

Leanne Hoagland-Smith, Chicago Sales Coach, helps small business owners to C Level executives from Chicago to Indianapolis to worldwide who are truly tired of struggling to unlock the sales and business results that they want. Call 219.759.5601 to schedule a free business coaching training or sales coaching strategy session to begin to quickly unlock tomorrow's solutions today.





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Wednesday, 10 August 2011

Leveraging a Sales Person's Motivation


Sales people who have clear objectives, the required competencies, and a supportive working environment still require a level of desire, willingness and positive thinking to complete tasks or sales activities in order to optimize performance. This state of willingness could be restated as motivation, the mental game or the internal forces that affect the outcomes, intensity and perseverance of a sales person's voluntary behavior.

Sales Managers need to evaluate each sales person's motivation, skills and the thinking supporting them due to shifting corporate goals and competitive threats. Given that there is a broad range of individualistic practices within the sales population, it is likely that each sales person is motivated in different ways and a good sales manager or sales leader, according to my experience, has the responsibility to identify those differences and leverage the individual potential from each and every sales person.

In David C. McCelland's theory of learned needs he suggests that achievement, affiliation and power are the important sources of motivation. As he suggests, however, high achievers are self-motivated to high levels of achievement while low achievers require direction and reinforcement from others. He goes on to say that employees can learn to become more achievement oriented but recognizes that there are different types of employees bringing a balance to our social framework.

This is why it is so key that sales managers understand sales people for the individuals that they really are. Daniel Goleman, who has done extensive work in the area of Emotional Intelligence, suggests that those employees with potential are motivated by a desire to achieve for the sake of achievement and states further that managers with strong emotional intelligence are themselves self-motivated individuals - These principles should then apply to sales people and sales managers.

If motivated sales people are more willing to exert certain effort over a period of time in order to achieve a goal, then what role does the sales manager have in his or her interaction with that sales person?

It is important for sales managers to have a grasp of each sales person level of ability and motivation according to Dr. Paul Hersey. He suggests that the ownership of the task between the sales manager and the sales person be shared in accordance to the various possible levels of both ability and readiness. A training company named Gilmore and Associates devised a model that incorporates these notions and I have worked with them to further its usefulness.

It is important that a sales manager determines what the over all ability of a sales person is prior to attempting to teach, share or transfer the key aspects of the tasks to that employee.

The same holds true for motivation but I would suggest that the aspects of motivation are often overlooked by sales manages as it is the more difficult of the two to identify and manage. Just as with ability an evaluation of motivation should be considered and then skillfully engage, encourage and recognize the mental game and thinking of each individual sales person.

[I believe that ability is mind to hand while motivation is mind to heart. Think of it this way - Sales Performance equals Ability (Mind to Hand) times Motivation (Mind to Heart) or SP=A(MH)XM(MH)]

Sales managers often remedy performance issues with more skills training when from my experience more often than not the underlying performance issue is the thinking and motivation of the sales person. This generally means the wrong solution for the wrong problem incurring more overhead cost, lost opportunity cost and often a further slippage in the motivation of the sale person.

Different levels of the sales person's ability will mean a different coaching style on behalf of the sales manager in order for the task to be completed at the required level of performance. Lower ability will mean more sales manager involvement and a specific teaching style will be necessary. As ability increases so too does the ownership of the task by the sales person increase, as he or she will begin to determine what is required in order to complete it. A sharing style becomes the most commonly used style by sales managers during this next phase. As the sales person's ability level optimizes the role of the sales manager shifts more to a transferring style. Involvement of the sales manager is far less and ownership for the task is now primarily that of the sales person.

Typically the same holds true for levels of motivation (M) with respect to the same task although the characteristics and processes for engaging it are more emotional than behavioral. It is here that the passion for sales managing sales people comes to the forefront.

Sales managing a sales person with low motivation will require a nurturing sales manager, one that will engage in the values and principles of the sales person more so than technical abilities for that task. I believe that emotional factors have to engage the sales person's values in order to stimulate the whole sales person. As the sales person's motivation improves you follow through with encouragement reinforcing the positive and helping them see that there is light at the end of the tunnel. At the highest level of motivation you simply recognize their capability supporting them to the highest possible level of success.

A sales person with high ability and motivation with respect to a specific task is more apt to have higher levels of success with the role of the sales manager being that of a provider of information or in a position to just delegate and reward with little need for intense interaction.

As a sales manager's proficiency increases with the use of this model, his or her competency at identifying the issues of ability and motivation will also increase. This will provide the sales manager with an advantage as he or she mentors and coaches his or her sales people for greater results. For the longest time I have used this model intuitively but from time to time I have been known to reference a wallet size cheat sheet that I have carried with me for at least twenty years. A real testimonial to the Gilmore model!




Ron Foss is the Senior Partner of EQ Management Group committed to improving management capability and more information can be discovered at http://www.eqmg.com





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