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Where’s You Next $1,000,000 Deal Coming From?0

By Tibor Shanto – tibor.shanto@sellbetter.ca 

To do something right, you need to set time aside to understand things, to come up with a plan, and then finally doing it. All of these are elements of success, and they all require time to complete. This is why I want the sellers I work with to not think about time management, a really silly concept, but instead focus on time allocation.

To do that you must first know what are the key activities you have to do over the course of a sales cycle, prospecting, research, play-off pools, account management and more. This will vary from seller to seller and impacted by what they sell and to whom. Next you have to figure out and understand how much of your time needs to be allocated to each activity, but again only the activities you need to succeed, so I’m thinking maybe the play-off pool should come of the list. First thing you have to accept is that there is no right number, just your number. Some will have to allocate more to an activity than you, and for other key activities the opposite will be true. The only number that counts is yours, and the only thing that counts is how you improve it, because next year, your quota is going up, but you ain’t getting another second in the day to work with.

Once you have that together, you need to make sure that it makes its way into your calendar, and in the proportions you came to above. So if you had for example 20% of your time allocated to prospecting, (and were able to validate that with your metrics), then over the course of a four week sales cycle, assuming you work a 50 hour week, you will set aside, bank if you will, 40 hours over the four weeks for prospecting. If you don’t block that time in your calendar in advance, like you would with other important things, like say client meeting, pipeline reviews, and oh yes, play-off pools, it won’t get done.

Now some will tell me that they wanted to prospect, but couldn’t get around to it cause too many things came up. Things like what?

Seriously, what’s more important than ensuring you have enough fuel in the tank to take you to your destination? I don’t see a lot of sales guys heading out for Miami with only enough gas to get half way there, and no plans or means of acquiring more fuel before they run out.

The most common things is closing a sales or looking after customer issues. But if you had allocated the time for closing and the time for managing accounts, then why take from an equally important activity. I know closing is important, sexy and rewarding, but wasn’t that once a prospect?

Looking inTalk to wealthy people, and they all say, they put a specific amount away for retirement and other things that were important to them, before they would spend money on other less important things. So what’s important than filling your pipeline with your next opportunities, think of them as baby deals.

If you wanted to prospect, you would set time to do it, just like you do for closing calls, upsell calls, or vacation. These things are all in your calendar now, are the hours you will prospect next week? No!

“I’ll prospect as much as I can, depending what else I have to do”. Wrong, you should prospect as much as you committed to, based on your conversion rates and other metrics.

No, carve out and protect time to prospect, and then fit in all the other activities around it.

I ask reps, if you had a call set, where they were going to sign a $1,000,000 deal, what would I have to do to keep you from going? Yet when it comes to finding the next $1,000,000 deal, ah, that’s not that important.

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