Do you know your Sales Cycle? Has it changed?

I was prompted to write about this by the news, today, that more than seven in 10 CEO Institute
members are expecting their revenue to increase in the first six months of 2010. One task stands out above all others for the CEOs surveyed — maintaining sales (46 per cent).

So if you are just getting back into the swing of positive action on sales, bear in mind that decision criteria will have changed, approval processes may be different and attitudes are different than they were a year ago.

More than ever, showing value is paramount, but bear in mind that your customers are also hinging their hopes on an increased revenue stream that may not yet have materialised. I'm seeing more customers who are interested in a phased implementation, limited commitment approach. In other words, they want to taste it before they buy.

So be prepared for a changed sales cycle.

More Sales Gems

Here are some more sales gems as promised.

• If you don’t pay commission to your sales people then they are not sales people
  o Customer service people who up sell without commission are not sales people
  o Marketing people are not sales people
  o Accountants are not sales people
  o The closest thing to sales people are company owners. They are the only other category who only get paid if they exceed their job duties.
• Don’t limit commission
  o Decide beforehand that you are happy to pay for delivery. The quickest way to lose your best sales person is to start arguing after the sales is done.
• Do pay a percentage of last month’s billings(revenue or margin or both) as commission, if you are in an annuity business.
• For most industries, there is no such thing as seasonality, only lack of planning.
• The key to sales, as with any science, is research and research implies asking questions.

It is obvious that these gems, as with any gem, require to be viewed in the correct setting.

If you would like to delve deeper into this area, please visit www.intermizzi.com.au or send an email to paul@intermizzi.com.au And now you can follow me in www.twitter.com/intermizzi

Some Sales Gems

I was recently asked what I would present, as Sales Gems, in 20 minutes to a group of up and coming company owners. As I have not updated the blog for a while, I though they may be useful here.

Here are a few of them.

• Sales does not have to be an Art, it can scale through application of technology and process.
• Don’t let a sales team just happen. There is a skill and team balance just as there is in any team.
• Don’t be happy with 20% of your sales team delivering 80% of your sales. If this is the case then you’ve either a) Picked the wrong team, or b) Don’t understand your sales process
• If you, as the company owner, are the company’s best sales person then you haven’t been able to document your sales process.
• Don’t expect the sales team to share your values a) You built the company, they didn’t and b) Sales people are rarely in the office, they don’t get to share the daily banter and the daily examples of how you apply your values.

I've also put together a template for a sales plan.

If you would like a copy please email me at paul@intermizzi.com.au

The Art of Sales and when to use it.

Anyone in sales will know what it is like to have to put up with the all of the forms and systems that your company insists that you complete. I recall a sales person in a successful Telco telling me that he had to enter the same data in seven different forms each week and couldn't understand why. I admit that it doesn't make sense to me. This was a bureaucracy that had to produce reports and they didn't care that they were taking time away from revenue generation to obtain the data. At worst you should only have to enter the data once.

It will become obvious to anyone who cares to examine the sales process that it is better to spend money on a system than reduce sales time. So you still need to collect the data but make sure that any system is helping sales and is not designed to penalise the sales person for not wanting to spend time entering data into a system that will not help the sales process.

So where does the Art of Sales come into play? I've realised that the Art in a sale is the part of me that enjoys winning a deal. The Art of me in a sales process only needs to be engaged once I have a qualified opportunity. It is the sales process, or sales production system, that delivers the opportunity to me. And don't confuse an opportunity with a lead.

If you want to find out more about creating a sales process then visit www.intermizzi.com.au

Networking is Forever

This is probably some of the best advice that I can give on Networking to anyone, especially if they have just entered the workforce or just started their career in sales. Keep in touch with your peers.
If you are going to succeed there is a fair chance that the people that you know, and meet, are also going to succeed. Whilst they may not currently be in a position to make decisions, it will become obvious that a number of them will make it to the top of their various pyramids. I still stay in touch with people that I worked with 25 years ago. We may not see each other socially but every now and then they receive either a phone call or an email from me.

As a sales manager, whenever one of my sales people came back to the office and reported that a person that they were dealing with had left the company, my first questions were 1. Where did they go? and 2. Do you have their contact details. Why? Well why waste all that work developing a relationship and not use it to gain entry to another company?

Social Media sites such as LinkedIn have made it easier to do this. You can see my LinkedIn profile here.

If you want to find out more about networking then go to www.intermizzi.com.au