Proactive Prospecting Summer – Part 3
Last week in Proactive Prospecting Summer, we looked at time, and how the way high performers look at and utilize time, gives them an advantage in winning, just as the also-rans are limited by their view of the very same thing. But time is just one of five levers a seller can focus and to continuously deliver more wins, but more importantly as a means of continuous improvement. The challenge for the masses, more than anything else is the need to continuously improve, they see it as a chore, high performers see it as a never ending and highly rewarding journey.
The trick is not focusing on all five at one time, but instead focusing on one at a time, achieve improvement in that area, go back and look at the impact it has had on the other levers, assess, and focus on the next one, which will vary from rep to rep.
The fact that it does vary rep to rep, is a challenge for many managers, because they feel they have to come up with multiple coaching plans for each of their reps. It’s much easier to approach things from a one size fits all lens. The way we help our clients balance the playing field is two-fold. First, we start with accountability, mutual, what the manager brings to the mix, and the specifics the rep is accountable for. Second, is the introduction of our Activity Calculator tool, and the people who say sales is not a numbers game will hate this (and probably fail to hit quota), because it requires you to know your numbers as good or better than you know your favourite athlete’s numbers. But it is the tool that allows us to take a standardized approach to a very individual coach and execution experience.
The five Levers:
- Quota – While you may not be in control of this number, it is a key factor in how you plan your execution, use of time and other resources, and how you pull it all together.
- Deal Size – This is variable you can directly impact and move. Unless you are specifically assigned to certain size accounts, you can choose to pursue accounts that will yield more per cycle. Mentally, it is like taking the cheaper options of the shelf; by not pursuing account under a certain threshold. Even if you are locked into a size of account, there are ways to have an initially larger sale, and to continue to upsell the opportunity.
- Proposal to close – While this one sounds simple, it is not, usually because there are different ways of improving this ratio, and usually people are overwhelmed by choices, and just resort back to what they always do, and end up with the conversion rate they always do. One counterintuitive way to improve this is to reduce the number of proposal you put out there that you know won’t close, you know spaghetti proposals.
- Discovery to Proposal – Probably the place you can have most impact in a number of ways, each leading to more improvement across the cycle.
- Initial meeting to Discovery – this is all about that first meeting, where the ground work for the cycle is laid, a good initial meeting can facilitate all the other variable, a bad one, just leads to more unnecessary work.
As you enter or change any of the above, the tool will not only show you the change in the other levers, but allow you to adjust your execution to play to your strengths. This will all make sense when you download the tool. Some will have less choice than others, but again the tool will help you adjust for that.
Success with the tool is over time, pick a lever, pick a specific element that impacts that lever, set a goal: destination and time to achieve, make an action plan, break it down to bite size pieces, and then execute. Work with your manager (or call me), to keep you honest and on track.
Here’s the deal, whether you want to do this or not, at the start of your next fiscal year your quota will go up, and as that lever is pulled, you need to have a plan for the effect on the other four.
For those asking what all this has to do with prospecting, simple, the better you are at getting that initial meeting, the more choice you retain in how you approach the five levers above. If you struggle in prospecting, never setting aside enough time to master it and just do it, the more difficult all of your levers will be.