How would you like to double your sales revenue? Of course you would! The “Double you sales Revenue” formula is a simple formula which could potentially do just that. But hey, even if you just increase your sales revenue by 25% that’s got to be worth your while right?

When I am called in to do sales turn around work (Help companies turn their flagging sales around), in most cases I simply go to work helping my clients with strategies to implement the “Double you sales Revenue” formula.

The “Double your Sales Revenue” formula is a simple recipe that any sales leader can apply if they want to increase their sales revenue. This formula works in any market, selling any product in any environment.

As part of the sales coach academy training program we teach sales managers this straightforward “Double your Sales Revenue” formula, and how to apply it to their own individual team and selling environment.

The formula

The formula for doubling your sales revenue is as follows…

P x Q x M=SR

Sales Production x Sales Quality x Motivation = Sales Revenue

Double any of the above multipliers and you’ll dramatically increase your sales revenue. Double all three and you will double your sales revenue.

So let’s unpack the formula…

Production (P)

What is meant by sales Production? Sales Production encompasses all the activities required to deliver sales. These include activities like:

• Planning and research
• Lead generation
• Lead qualification
• Client communication
• Proposal writing
• Follow up
• Presentations/demonstrations
• Negotiation
• Service calls
• Etc.

Quality (Q)

Sales Quality refers to the quality of the delivery of the above. So as an example…

Let’s take the sales activity of telephone appointment setting. This for most sales organizations is a foundational activity required by the sales team. The Quality factor is the distinctive manner of the sales person’s telephone style and their skill in putting the prospect at ease as well as their ability to present a compelling enough case for the prospect to agree to an appointment.

This is often the difference between those on the sales team who struggle to get appointments and are often immobilized by the sense of rejection and failure that comes with poor or average phone appointment results, and those sales people who have a full calendar. The same can be said for any other sales Production activity, whether it be presenting, negotiating, planning, researching, qualifying etc. It is the Quality of the delivery of the specific activity that determines the success of that activity.

So when sales organizations refer to selling as a numbers game, they are only referring to the first part of the formula-“The Production factor”. Make more sales calls, see more people, do more activity only focuses on one third of the Sales Revenue Formula. Does it work? Sure it does!  If all you did was to find a way to multiply your current sale Production factor by 2, you’ll easily double your current sales results. This is provided you have the capacity to double all sales productivity.

Ramping up activity is most often the first place that management turn to, to ramp up sales. It’s also the easiest factor to improve because it’s the more measurable of the two. It’s easier to manage. In support of this, most research on the subject of sales productivity says that on average sales people are only working to about 60% of their Production capability. Therefore with a measured focus on increased sales activities, you will most certainly get a lift in sales.

That being said, simply amping up sales Production often burns many a would-be, potentially great sales people and pushes them out of sales completely.

Sales managers must also learn how to drive the other two thirds of the sales revenue formula if they want double their sales.

Besides working on the Quality aspects of the sales activities, sales managers must learn how to drive individual motivation. Sales managers must understand the “hot” buttons and drives of each of their sales people individually. A “turned on” and driven sales person will accomplish amazing things. They will do whatever it takes to bring home their sales number. Unfortunately the vast majority of sales managers have no earthly idea how to motivate their sales people. Even though the plethora of research points to the fact that money is not a primary motivator, still management believes that “throwing money” at the motivation issue will solve it.

Put them all together

So for all you skeptics out there who were wondering whether you could really double your sales revenue… watch this?

P (2) x Q (2) x M (2) =more than double sales revenue

Starting with your current level of sales Production. If you could (and I’m not saying you can, but if you could…) double the amount of sales activities your sales people were currently delivering, what would happen to your sales revenue number? Hey what if all you could feasibly do was to increase your sales Productivity by just 25%, what would the impact on your revenue line be?

Now let’s double the Quality and effectiveness of your sales people and their sales activities. So now if your sales people’s average conversion rate was say 9.5%, what would happen to your sales revenue line if you could double it? Hey what if all you could feasibly do was to improve your sales Quality by just 25%, now what would the impact on your revenue line be?

Finally, what if you could double the level of motivation of each of your sales people? How much more effort would they put in to their sales activities? How much would sales Production increase? How much more time and effort would they put into improving their capabilities to raise their Quality quotient? But hey… what if all you could feasibly do was to improve your individual Motivation by just 25%, now what would the impact on your revenue line be?

The Answer

Here is the great news. It has shown that the world’s top sales managers use the regular practice and discipline of sales performance coaching to drive up each of the factors relating to the “Double your Sales Revenue” formula. If you would like to see data proving this fact see the video at “The Sales Coach Academy”

If you would like some help applying this simple, but definitely not easy formula to your sales environment, write to me at ians@iansegail.com and if I can’t help you directly, I can at least point you in the right direction to get the support you need to increase your sales numbers.

Ian

If we break the process of Performance Management down, it’s much easier to understand. It’s also a very practical method to view performance over different time frames.

The Key elements of the process are –

• Planning

• Do

• Review

• Revise

The ‘Planning’ phase is where you want to prioritise your targets and customer needs. By looking through these traits you will see what needs to be improved on and by how much. The second phase of the planning section is the Planning for Improvement stage. Here you can look at where you are being let down, and what potential changes can be made to rectify these problems.

The ‘Do’ phase is where you can help your staff to achieve a better performance. Through setting targets for your team and providing feedback on a regular basis, you can provide advice to help them to meet the needed criteria for a prescribed period e.g. a calendar month or even on a daily basis.

The ‘Review’ phase is where you can review the consequences of the decisions you have made. Any changes to operations or systems that are currently in use will most certainly have their pros and cons and this phase will enable you to weigh them up and decide if the new change is valid and workable.

Finally we come to the ‘Revise’ stage. This is the stage where you learn to change how you operate. Don’t be afraid to change procedures if the current operations are not working. This is the last stage and most important stage of the Performance Management Process. There’s no point in conducting a plan if at the end nothing was accomplished from it.

Examples of the ‘Revise’ stage could be to change the current targets expected or to change the sales techniques that are currently being used by your team.

Performance Management Systems 

The systems that are used for measuring performance are not always used for the company as a whole. The same process mentioned above can be done on an individual basis, again using the methods shown. This can be beneficial in understanding how that member of staff has worked for you, and how they improve.

The Benefits of Performance Management

Through using a Performance Management System; as a manager or leader you will soon see the many benefits it brings to you. The main benefit being a direct financial gain as you begin to make changes where they are needed most. Making changes within the organization can result in reducing the running costs of day to day business.

You will also be able to achieve a more motivated workforce as you can plan ahead and produce specific goals for your staff to aim towards. Finally you will see a rise in the overall management control within your business. The Performance Management plan will help simplify the strategic overall goals of the company and can provide you with a well documented future business plan.

To seek more information on Performance Management check out the free EBook “Bulletproof Your Sales Team” available at http://iansegail.com/free-report/.

We constantly question ourselves on how we can do better, if we all did better in our place of work, then the more success we would have. However, the common problem is that many people don’t know how to better themselves within their chosen workplace. This is where you as a sales leader/manager can bring in performance coaching.

Performance Coaching

Performance coaching is a method of giving your team advice on how they can do better; many people have said that if they knew how to improve their skills, then they would strive to achieve this. By holding regular meetings with individual team members or even team workshops, you can help make your staff bond and use each other as a method of learning.

Talking to your staff at regular intervals can also help you to detect small problems that your sales team are currently facing.  This way you can rectify the problem before it potentially causes a huge impact on your sales plan.

There are many methods you can use as a part of coaching your staff and they are all there for the same reason.  You need to be able to maintain a positive focus throughout your team, creating milestones for your team to aim for will enable you to monitor your team’s performance as they push to achieve the goal.

To fully understand the potential effects of Performance Coaching you have to create a bond between yourself and the staff working under you. You need to be seen as the head coach of the team. If you can achieve a mentor status, then staff will approach you for advice when it is needed.

Performance Management Framework

Performance Management Framework is basically an overview of all aspects of your business. It’s a framework that brings together all your plans, targets, strategies and the current performance of your business. You can use performance management to see how current affairs are in relation to previous timelines. The process enables you to see if you are improving together as a team or are failing.

Performance Management will guide you in identifying problems and also aid you in finding the solutions.

Here are some key Points in relation to Performance Management –

1. You can see recent success that you have achieved

2. You can see problems that occurred that in turn induced failure

3. You can plan to overcome recent problems so that they don’t occur again

4. You gain a clear vision and perspective on the outcomes of your actions

5. The process enables you to plan on realistic targets to use in the future

For a more expert opinion and expert knowledge, download the free EBook “Bulletproof your Sales Team” available at http://iansegail.com/free-report/ now.

Managing can be a difficult task, however if looked upon with a positive attitude and by using the correct techniques you can find the job to be a rewarding and simple task. The techniques are easy to apply and can be used as often as you like, look at them as guidelines to help you assess your staff.

Set your Standards

The first technique and probably one of the most important, is to actually set the standard that you want achieved. Remember that the standards you set can be applied to many aspects of the job, including sales figures, profits and even attendance. These standards are the minimum requirement you expect and now that your staff know what is expected of them, there is no reason why any of them should fall below these standards. You will find many of your staff will push harder to better the expectations that you have set.

Set Individual Targets

Another proven technique is to set individual team members their own targets to aim for. By setting individuals their own specific targets, you are putting the foucs on their own competence which will slowly allow you to improve aspects of the job which they may fall short on. This method will enable you to push an individual into working harder and improving their weaknesses, as they now strive to meet the targets that you have set for them.

Providing Feedback

Feedback is an important aspect of managing people.  It’s where your staff will learn the areas they need to work on and the areas in which they excel. Constructive feedback is the way to provide this. Make sure you give praise where it‘s due and provide advice where it‘s necessary.

Feedback should be given at the right times, such as a project completion or where the standards you set have failed. It should also be specific and straight to the point; therefore the individual remembers the key points of the conversation.

Marketing Management

Marketing management is the discipline of focusing and applying marketing techniques. The first step in marketing management is to set a marketing strategy that will provide you with the maximum profit and sales.

You need to look at the customer base you wish to gain, as there is no point directing your advertisement at people who are not suitable for your products. Look at which majority will return you with long term profitability and also make note of your competitors. You want to devise a long term plan that will ultimately take you and your staff to the top of the competition.

For more expert advice on Managing your Staff and Marketing Management look at the free report “Bulletproof your Sales Team” available at http://iansegail.com/free-report/.

Being a Good Leader

To become the most effective leader you can be you need to learn how to engage your staff. The sales trade is not an easy trade to excel within, so to make the most of your current staffing roster you will need to work very close with your team in order to maximise your sales.

In order to engage with your staff at a positive level, you must be able to influence them and be able to use motivational skills. A team that has no motivation will not provide you with the results you require, your staff could be of the highest calibre, but with no motivation they become a useless asset.

There are many different methods that can be used to motivate your staff; here are just a few recognized methods –

• Team Building games or activities

• Sales workshops for your staff

• Inspirational Meetings

• One on one coaching

You may see that these methods are also ways of being able to promote confidence in your employees. Confidence and motivation come together hand in hand as the key to motivation for many of your workers is the amount of confidence that they have in doing their job. For yourself to take part in these activities can also be a good boost for both morale and motivation and by bringing you and your team closer together can help break down any communication issues that there may be within the team.

Giving Constructive feedback

Being able to provide constructive feedback to your staff is also another aspect of becoming a quality leader. By providing feedback you are giving your staff pointers in how you wish the work to be carried out. It’s also an opportunity to give the employee positive words of encouragement and to simply praise their work. Likewise if you are not happy with certain aspects of the employee’s work, then by giving feedback, you give them the opportunity to rectify the problem in future assignments.

Leadership and Management Outline

In conclusion to the leadership methods mentioned above, a good leader should also be able to –

• Build A Strong, Focused team of Individuals

• Resolve Poor Employee Performance

• Take Appropriate action to gain results

• Eliminate any undesirable methods or behaviour

By following some of the guidelines presented in this article, you will not only be improving yourself, but also improving your team. By bringing your team closer together you will be able to maximise your sales profits.

The guidelines in this article are just a small percentage of the techniques you could use to improve your leadership and management skills. For more expert advice please take a look at the “How to Bulletproof your Sales Team” Free eBook available at http://iansegail.com/free-report/

By looking at the content published on this website, you will be able to become a more proactive sales team leader and help your sales team come together to produce the sales numbers you are looking for.

If you want to increase the productivity of your sales team and increase the effectiveness and the impact the sales team will have, then learning to coach your sales people online could be just what you’re looking for.

The Sales Coach Academy

The Sales Coach Academy can provide you with a 90 day online coaching program that is not only easily accessible but is also a recognised proven training course.

The course looks at how you can make yourself a better sales manager using certain techniques to help your team attract the sales you need. Your training includes using online video, attending regular web learning clinics, audible learning and most importantly, one-on-one coaching once a fortnight.

You will discover that our online coaching course will ensure that you are equipped with the skills needed to manage your staff so that there will be no more delays in closing the deal.

Sales Management Coaching

To become a successful sales manager, there are certain traits that you must demonstrate:

1. Support the Learning of your Sales Team
2. Provide regular guidance for your Sales Team
3. Provide Feedback For the Team
4. To Provide a insight and a direction to ensure their success

If you can introduce all of these traits into your sales management, then it will be of no surprise to you when your team’s sales figures quickly start to bring you the success you deserve. Knowing how to drive your team to produce the results is paramount to this success, and by increasing your coaching skills it will provide you with a foundation for a strong and winning team. Being aware of the latest methods can make all the difference in establishing new sales and leads that are beneficial for you and the people who are working under you.

By undertaking a simple online sales management course, you will not only be making yourself a better sales team leader but you will be better equipped to tackle any issues or problems that will arise in regards to your sales.

Becoming a better sales leader

As the dominant force in your team, you should be the person directing your staff with the right advice and feedback. Your Diagnostic skills should be of the highest standard. Simple diagnostic skills should include:

1. Being able to determine the specific nature of a problem
2. Being able to find quick solutions for your staff

For example don’t be quick to assume that the reason for poor sales figures is the lack of motivation within your team, there may be underlying factors that you have not considered.

For more information on sales management courses and on sales management techniques visit http://iansegail.com/