Good Regular Sales
Managing your sales team, and knowing what they are doing is essential when running a successful business. You need to know who they are targeting? How are they pricing? What stage are we at with the prospect? How did we pitch our quote? Who are my team meeting with? What are the competition doing? What is supposed to be happening next?
These are all simple questions, but unless you hold regular meetings, and stick to a structure, you'll miss things, and usually the important stuff ! We like to see a simple quote pipeline, and make sure that it's tested and challenged using two key percentage probabilities.
"% There's going to be an order for someone"
x multiple it by
"% If there is an order, it's going to be ours"
= Overall % probability of winning an order
Don't fall into the trap of only asking one question, as the other piece of missing information could be important !
"Structured, well run sales progress meetings are essential in the current economic climate"
Stephen Moon, Venturn Ltd
Case Study : Automotive downturn
The Issue: December 2008 saw one of the biggest drops in output throughout the automotive industry. Order books shrank by 60%, plants across the world announced periods of up to 4 months shut down in an attempt to reduce costs.
Venturn's Approach: Cost cutting can be the easy part. Difficulties come from maintaining operational integrity to ensure that quality standards are upheld and the business is still being able to respond to customer's needs. A review of the new organisation structure was required to ensure that everyone knew their place, their Responsibilities and where Accountability still lies.
Experience: A full review detailing all of the new issues was required. It felt like we were climbing a mountain, but we needed to ensure that the team knew what they were doing.
Time: A lot of change and restructuring in a short space of time means that everything needs be checked.
Objectivity: We focussed on What need to change and Why it needed to. A vision of the new organisation was required that everyone could buy into.