Many of the turnaround projects I work on have common themes.
Primarily, these can be summarised under the heading that ‘the business is working in the dark’
What does this mean?
It means that the business lacks clarity, transparency, and accountability.
One of the key areas where this causes the most confusion and uncertainty is in the area of sales forecasting.
In these instances I look at ways to bring certainty into this part of the sales process by:
- Establishing very clear and specific criteria about the segments of the target market that the sales people will approach, why and with what proposition
- Setting clear guidelines with regard to what a sales prospect ‘looks’ like at each stage in the sales funnel – for example what criteria must exist before the sales prospect can be awarded a place at a specific point in the sales funnel
- Instigate tight and robust sales pipeline management to progress prospects through the sales funnel into a stable and accurate sales forecast
Just knowing that the sales process is robust enough to appropriately progress the well qualified prospects and eject the poor quality prospects allows the business to operate in ‘reality’ as opposed to having to hold their breath until the end of the month to see what is actually invoiced.
In addition the sales team know EXACTLY what they have to do in terms of activity AND they have their own specific activity template they can use to establish their own activity levels in order to exceed their target, knowing the variables they have to play with and the respective numbers required at each stage.
Building certainty, transparency and accountability in the sales process is a major leap forward for many organisations and can help a failing company regain control of their business almost immediately.
From this starting point, Directors can immediately see if the business is viable and sales targets achievable.
For more information or a confidential chat about how to improve the sales performance of your business, contact us for a confidential chat.
Carol Griffiths – Director and Lead Consultant
Morton Kyle Limited
0779 002 1885