Rule 1 – When you’re in a hole, stop digging.
The market is growing. Your losing to your competitors on “price”. There are variable uncertainties in the future. You’re not growing in revenue and/or as profitable as you have forecasted. You’re in a Hole. The first step is acknowledging just that. You’re in a Hole. Stop digging. Time to do something different. You need a plan.
Rule 2 – You can grow your way out.
Here are 3 simple steps to climb out.
Step One – Define your best customer’s DNA. Who are they? What are their attributes. Determine a scoring system. Based on what you see, rate your Accounts as below. You don’t have to get it perfect you just have to get it going.
A – Highest Qualified
B – Lower Rank based of DNA assessment
C – Lowest Rank based of DNA assessment
D – Dead
Step Two – Place in a spreadsheet or sales plan template and define their Rank (above) and Stage (below)
- Suspect – Qualification through a Defined Funnel.
- Qualified Prospect – Ranking A-B-C-D.
- Introduction – Value Proposition Positioning.
- Appointment – Presentation and Value Qualification
- Action – Relationship Building, Value Building and Confirmation.
- RFQ – Proposal Building, ROI Statements and Pricing Strategy.
- Closing – Culmination of Trial Closing in previous Stages.
- Maturity – Building a Valued Customer.
Then sort the two columns – A to D and 8 to 1. Viola! Your sales funnel.
Step Three – Determine a next step for each or your “A” defined Accounts and Leads. Set specific goals and completion date for each “A” and go to work.
Now I know I have boiled this down to the simplest method. It is a start, and once you see your Sales Funnel, you will see immediate opportunities for revenue and margin improvement. But yes, it is just a start. Should you want to do a deeper dive and receive specific guidance and tools (including a sales plan template) please go to www.asimplesalesplan.com . 100% satisfaction, money back, no questions asked guarantee. If you like what you see download the program. If not, read my Blogs for more direction and download my free ebook.
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