As part of my daily routine, I like to start my day with coffee and education. I like to read, watch a documentary or listen to other business experts to keep up with what is happening in the business world. I have consistently heard over the past few weeks of economic experts talking about the recession of 2020. I don’t know if these experts are correct or not, but what I have learned over my 20 plus years in sales, the best time to prepare for a downturn in the economy is when the economy is robust! Does your sales organization have the fortitude to withstand an economic contraction?
It is surprising to me that when I speak to leaders of organizations, they are struggling with their sales business plan in this growth market and are not taking additional steps to recession proof their businesses in the advent of a slowdown in the economy. At the heart of the problem, is a limited understanding of the essential elements of a healthy sales organization. One that can withstand significant market fluctuations and thus is less susceptible to changes in the economy.
Having recently researched over 100 companies across multiple verticals, the following ten challenges continue to manifest and limit the return of the sales infrastructure dollar invested.
Ten Challenges Companies Face
1. Lack of Performance Accountability
2. Poorly Constructed Sales Compensation Plans
3. Inconsistent Sales Team Coaching/Development/On-boarding
4. Focus on Selling Stuff vs. Client Experience and Solving Client Problems
5. Aggressive Growth Targets, No Plan to Get There
6. No Explicit Plan to Manage Sales Team to Higher Levels of Performance
7. Blind Spot Relative to Sales Teams Activities, Sales Data Retrieval and Productivity Reporting
8. Poor Recruiting of the Right Sales Talent for Growth
9. Lack of Leadership Development in Sales and other areas
10. Poor Synergy and Cooperation between Sales & Marketing
It is critical for companies to create a high-impact sales plan across 16 key sales drivers, thus building a high-performance sales infrastructure and team. Leaders must strive to proactively manage their sales team and hire the right salespeople thru best practice and clear sales process definition. Companies taking the time to analyze their sales organization and approach, and then build a targeted sales plan will see a significant sales productivity improvement over time. This improvement will stand the test of toughening economic conditions and ensure improved consistency in achieving results.
Please click on the link below to answer my free, 10-question assessment to gain a glimpse of your current sales execution and receive improvement tips in your areas of weakness.