Ask Andi: Definitely need more sales

Sales is the big thing for us ”“ we definitely need more clients, more business. I am very confident I can help customers, but sales is not something I”™m confident about ”“ feel a little bit uncomfortable doing it. Up to now I’ve gotten all my clients through referrals and networks, which seems like a very different process.

Thoughts of the Day: If you”™re worried about sales making you uncomfortable, think how uncomfortable you”™ll be if there isn’t enough money coming in to make payroll. Networking and referrals are part of a plan to get leads, but only a part. Don”™t go it alone ”“ figure out who else in the company can help you work on sales. Assess your selling skills ”“ they”™re probably better than you think. Prioritize selling until you know the company can meet its goals for this year, next year and the year after that.

Sales is the lifeblood of any company. Without sales, there”™s no need for a company to produce goods or services. Rarely do customers flock to a company because of the strength of what it offers. If that happens, it only lasts for so long, until competitors figure out where the opportunity lies and try to horn in. Then it”™s back to building sales skills to protect and build market share.

Many products or services get launched with a few select customers, a good reputation and a lot of referrals. The owner does some networking, gets introduced to a target market. Some prospects show interest, decide to buy, are happy with what they receive and tell others about the experience. The company is off and running. And that”™s good enough for awhile.

However, if the company is to continuously grow at a healthy rate of 10 percent to 20 percent annual increase in revenue, at some point it will take more than referrals and networking to get there. Also keep in mind that referrals from satisfied customers and a network of people who know your company are likely to move to closure faster and have a higher close rate. Don”™t get discouraged if cold leads take longer to close and appear to have a lower closing percentage.

Contacts with prospects who may be in your target market, but who are not familiar with you or your company, need to learn about what it is that makes your company valuable and reliable. They need to evaluate the fit without the benefit of knowing someone who is like them and already doing business with your company. Be prepared to address the lack of familiarity with strong benefits and payoff statements, introductions to satisfied customers and persistence.

Take a look at all of the people in your company. Who really knows your customers? Who knows your products or services inside and out? Think about what they can do with new prospects. Can they do informational webinars or seminars? Can they arrange groups of customers into which you can sprinkle new prospects? Can they figure out a trade-show strategy, where your target market is like to be on the lookout for new offerings?

Evaluate your own skills in sales. What are you especially good at? What do you need to push yourself to do? Across the entire company do the same evaluation. Figure out where the strengths and gaps are along the spectrum of sales, from initial introduction, to lead nurturing, to close.

Consider hiring or training to fill in gaps in the sales spectrum. Rather than hiring the next operations or administration person, put your money into sales. Check on the profitability of what”™s being sold. Emphasize the most profitable sales. Work to perfect profitability on the products that will become the future of the company. Keep in mind that more sales, at higher levels of profitability will bring in the money you need to add staff elsewhere in the organization.

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Andi Gray is president of Strategy Leaders Inc., strategyleaders.com, a business consulting firm that specializes in helping entrepreneurial firms grow. She can be reached by phone at (877) 238-3535. Do you have a question for Andi? Please send it via email to AskAndi@StrategyLeaders.com. Visit AskAndi.com for an entire library of Ask Andi articles.