title:5 Sales Keys to Building a Dynamic Self Sales Management System

author:Jeff Hardesty
source_url:http://www.articlecity.com/articles/business_and_finance/article_8077.sh
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date_saved:2007-08-23 17:04:56
category:business_and_finance
article:
Can you diagnose your business on a 'Single Sheet' of paper
1) Identify Your Essential Competencies and Performance Metrics
If I asked you to list all the essential competencies that YOU are in control of -
the ones that are absolutely critical for you to be successful in your sales
positioncould you do it
For example
Essential Competency or not
" Converting conversations to appointments (yes it is)

" What about filling out paperwork No! (That's a related task)

" What about closing ratio (Sure it is.)

" Degree of success in turning a first appointment into an opportunity (absolutely)

Get the picture
Now, if you truly want to adopt a self-management system that will work FOR you -
not against you, you first have to "access" what is an essential competency and
what's merely a related competency.
To do this, sit down and list any sales metrics and performance numbers inter-
related to your competency numbers and your desired revenue results. (Hint: "Sales
Cycle" and "Average Revenue" per sale are two.)
2) Diagnose Your Business on a Single Sheet of Paper
If I ran into you on a train or in an elevator, would you be prepared to tell me
what you do (and how it benefits me or those I know) - in under 1 minute
That's called your 30-second commercial. Most people don't have one, yet everybody
needs one.
One way to understand more of the obvious benefits your products and services bring
to the table is to start to view and diagnose your business more scientifically.
You will also see how the numbers work and which areas are most important to your
short and long-term success.
Ask yourselfWhat happens if your closing ratio reduces by 30% and your average
revenue per sale increases by $2500 How does that affect your desired results
Write your competency measurements and sales metrics on a sheet of paper. Calculate
ratios in line with competencies and average numbers in line with your sales
metrics. Assign your revenue object or quota. Play with the numbers and ratios to
see how they are inter-related and how they affect each other.
3) Calculate your 'Magic Number'
"Not setting enough new appointments on a routine basis" is like a malignant
cancerous growth slowly eating away at the heart of most sales organizations - -
Jeff Hardesty.
The reason for this is because most of us do not identify how many new appointments
are needed on a weekly basis based on individual competency numbers and performance
metrics.
That's like diagnosing with blindfolds on.
Every one is different; we all have a 'Magic Number'. And it's personal to only
you. If you routinely achieve it, you will routinely meet your desired results.
Since it is a dynamic number that changes from week to week, it's important to
understand how it is inter-related with other competency ratios, performance
metrics and desired revenue results.
It's important to include your 'Magic Number' in your self-management system.
4) Train to the 'Napkin Rule'
The 'Napkin Rule' simple means, putting aside all those sales automation systems
for 30 days and keep track of your essential competency and performance metrics on
a single napkin.
Compute updates daily. Store the napkin in your pocket. When the napkin fills up,
transfer it to a legal pad to show month to date. Have nothing else on the legal
pad except your essential competency ratios and sales performance metrics. After 30
business days, transpose the legal pad metrics to your favorite computer software
spreadsheet, and track it for 90 days.
This simple but powerful "Napkin Rule" will help you become the CEO of your
business.
5) Run Your Numbers, Don't Run after Quota
Concentrate on your numbers NOT your quota so you can diagnose performance trends
before a revenue crisis. Then you have the power to institute strategies and
tactics for immediate recovery.
Here's why.
Reaching and exceeding sales quotas consistently has very little to do with
product, pricing and competition. But it has everything to do with 'Process'.
Identify the core competencies that are necessary to be successful in your sales
routine. Then train to Powerful Routines to increase your ratios of effectiveness.
Document these meaningful business metrics and review them weekly. Build a simple
but dynamic self-management system and outperform your peers and competition while
assuring your revenue success.
About The Author
Jeff Hardesty is a National sales speaker, Sales performance improvement consultant
and the Developer of the X2 Sales System, a blended sales prospecting training
system that teaches sales professionals the competency of setting targeted C-level
business appointments.
Jeff can be reached at <a href="mailto:jeff@convertmoresales.com" class="hft-
email">jeff@convertmoresales.com</a>.
Submit your sales performance numbers and receive a complimentary Sales performance
Check-up with Jeff and a 15-minute Evaluator web-cast complete with (3) Sales
Performance Improvement Blueprints @

<a href="http://www.salesspeakerpro.com/sales-performance-appraisal.php"
class="hft-urls">http://www.salesspeakerpro.com/sales-performance-
appraisal.php</a>.
See Jeff's Sales Consulting offers @ <a href="http://www.salesspeakerpro.com/sales-
consultant.php" class="hft-urls">http://www.salesspeakerpro.com/sales-
consultant.php</a>.

This article was posted on November 14, 2006

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