Would you allow a loved one to go years without going to the doctor for a check-up? I’m guessing not, so why wouldn’t you treat your business the same way?
With another year ending, you are likely reflecting on the goals you set for your business in 2018. Did you achieve or exceed them all? How do you know if you are focusing on the right areas as you make your businesses New Year’s resolutions?
Hopefully you are sitting down with your business partners, managers and employees. While you should certainly take their feedback into account, often times an outside perspective can bring things to a whole new light.
When you look at your sales for 2018 and set your targets for 2019, consider the following:
What are those numbers based on?
Did you simply select a number you thought sounded good, did you select a percentage of growth? Is that number based upon an expected increase in expenses? Or did you determine certain aspects of your products or services that will see greater increase than others this year and build out your 2019 goals accordingly.
How do you plan to achieve these targets?
Let’s say your goal is to increase revenue in 2019 by 20%. What does that look like? If your response is to tell your sales people to sell 20% more in 2019, then we definitely need to talk. You need to take a good hard look at your sales process and see where inefficiencies exist, where your sales leakages are occurring and what strategies or technologies you can put into place to resolve them.
Does your team need additional coaching, training or management to keep them on track?
If you have been managing your sales team for the past year, you may not have seen as much growth as you had wanted, or on the flipside, you saw the growth, but spent so much time on it, you were stretched too thin or unable to spend enough time on the other aspects of your business. Hiring a part-time sales manager who can coach your team on how to sell with increased efficiency and overcoming objections, someone who can train them on the new technology you will be implementing or manage them regularly to ensure they have everything they need to succeed and help grow your business and their careers.
While this can be done by your team internally, it’s a good idea to get an outside advisor to assist you with this process. Sometimes, you are just too close to the work to see everything that needs to be addressed. Perhaps you’ve been following a particular process for years and you have just accepted that is just the way it is. It doesn’t have to be, and an advisor with specific knowledge of sales processes and technology can help you through this.