News & Views

March 6, 2019

March GPS: Fundamentals Sales

Fundamentals: Sales

 “Nothing happens until somebody sells something.”

What is Sales?

  1. The activity or business of selling products or services.
  2. An alternative term for sales revenue or sales volume.

 

When we begin working with a new client, there’s much foundational work to be laid. The client’s core leaders start by going through an assessment process that covers everything from financials to systems to internal succession planning. Once completed, we outline and provide a detailed plan — including tracking methods and achievable metrics — to improve the worth of your company.

Included in the plan are the principle value drivers that help your businesses thrive. Sales is one such key value driver. High value companies have the ability to deliver on the promises made to the marketplace and to do it in a systematic and a reliable process-driven manner. They consistently ask, and answer, challenging questions to ensure that their sales systems are performing at peak efficiency.

 

These questions include:

  • Does your company have a consistent record of sales growth?
  • Is too much revenue concentrated in the hands of a limited number of customers?
  • Do you offer regularly-scheduled sales training programs?
  • Are you too dependent on one sales superstar or the personal relationships with one party of the customer?
  • Do you have a balanced mix of sales tactics to keep a steady stream of high-quality prospects in your sales funnel?
  • Are you measuring the timing and close rate on your sales leads?
  • Are your customers satisfied and a consistent source of repeat business?
  • Do you measure and understand your customer turnover?
  • Are your customers paying in a timely manner?
  • Is your sales incentive program effectively creating your desired outcomes?
  • Will your sales process continue to function successfully in your absence, whether due to illness, retirement, transfer of ownership or another life-changing event?
  • Are your sales and sales projections sustainable and predictable?

 

Answering “no” to one or more of these questions can leave your business vulnerable and at the mercy of forces beyond your control. If you haven’t done so in a while, we urge you to take time to evaluate your current sales process. In this way, you will safeguard the revenue you need to achieve your short- and long-term goals.

There are many more questions that need to be considered to improve your sales. What do we sell? What does the customer buy? How relevant is your service or product? Who is the real customer? Who makes the purchase decision? How are you able to provide better service or product than your competitors? Are you selling to the correct customers? Do you have a written sales plan and strategy? Is it being followed and measured?

Big changes — especially in larger companies — don’t happen overnight. Our individualized approach to helping clients make big changes and sound business decisions is methodical and incremental, and keeps your long-term goal in mind at all times.

By chuck Uncategorized Share:

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