A growing business needs to be closely and carefully managed to ensure the success of new investment decisions and expansion plans. However, many owner-managers find at times their start of year plans are are not coming into fruition and most businesses will start planning for the next year.
With a few days/months left in the year, many people begin to think of the New Year and the goals they will achieve on January 1st. Usually, that never happens, those goals never come to fruition and the cycle of not accomplishing goals continues. Luckily, there is still a significant amount of time left to meet your end of year goals. The finish line is closer than you think.
The pressure mostly comes from not meeting your planned revenue and sales goals. As a leader, its time to put pressure on the team.
Salespeople under pressure can hit their sales targets. Basically, it comes down to two factors: if you have enough pipeline or if you don’t. If you do, dig in and pull out the most likely opportunities. If you don’t, you have to hustle hard to find new opportunities that will convert quickly.
- Redefine your goals- You may have spent the year overwhelming yourself with all that you wanted to accomplish, take some time to write down two or three specific goals that you can help you get there. For example, you have 5 sales people and you want to achieve X amount of revenue by December, you have to divide the sales quotas; it may be beneficial to hire interns to support the sales team
- Audit Your Sales Pipeline. The key here is to be brutal in your audit, spend your valuable time on those opportunities that will convert, and forgot those that won’t. Each sales person should give a clear outline on how they are going to achieve their goals, if the team is not meeting the targets such a plan can act as a 3- Performance Improvement Plan or an action plan. Let the team come up with the plan so that they can have ownership
- Identify And Pursue Lowest Hanging Fruit Opportunities. To maximize your return, Don’t waste it on deals or customers that won’t convert, key is to look at your current or former customers and see what other value add you can provide
- Leverage Your Network To Help Influence The Sale. It’s now or never that you leverage those connections to make the sale. If a decision maker isn’t responding, don’t hesitate to ask other people you know in the company when he or she might be available. It maybe time also to invest in attending networking events, conferences or activities where you may meet the decision makers.
- Don’t Be Afraid To Ask For Help. Time to put your ego away and leverage the people around you. This could mean the top performing rep, your manager, or even your social network or HR and Recruitment service providers like Alternate Doors (HR).
- Provide Rewards As the holidays approach, use those moments to inspire the team, bounce ideas off on how they would like to be rewarded after they have achieved the targets. They will be excited working towards accomplishing the set out goals.
The ways that you nurture deals in Q4 can be different from the rest of the year. Not only because you want to reach your sales goals but also because prospects may have budgets that must be spent before the end of the year.
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