Do your salespeople see themselves as mini-entrepreneurs? They should. Being a salesperson is like running a “business within a business.” You can guide them to that mindset by having them write their own personal one-page business plan. It will help them understand how their efforts contribute directly to the bottom line, see more clearly how they have direct control over their income through commissions or bonuses.
A one-page business plan is designed to be just that…one page. It’s a simple process for bringing their long-term goals and daily behaviors into alignment. It’s true that most people spend more time planning a summer vacation than they do planning their professional or personal life. Additionally, I realize that things change and circumstances can quickly toss monkey wrenches into the best laid plans. When that happens, take a deep breath and make revisions. Remember, the “what” you’re trying to accomplish provides a light at the end of the tunnel. The “how” you get there can, and probably will, change. At the very least, having a plan gives you one crucial element basic to human existence…hope. Helen Keller said that the only thing worse than losing your sight is losing your vision. Having a vision, no matter what is going on around you, provides hope and purpose. It gives you a next step, and then a next.
To begin the process of writing your one-page business plan, take a piece of paper and fold it into fourths. One quadrant will be dedicated to one of four sections:
1) List 3-5 Personal Goals – It’s true that this is a business plan for work…but your accomplishments at work, your paycheck and your sense of fulfillment, directly affect your personal world. Understand the connectedness of your personal goals to your professional goals.
2) List 3-5 Business goals – These will likely be more than just financial. They should bridge any gaps in your growth and development that contribute to your ultimate success at work. It may include everything from sales goals to classes for a new skill. Remember, your sales get better when you do. Here’s your chance to define how to make that happen.
3) Revenue analysis – Here’s where you record your specific financial goals for next year. Break them down into quarters or months, whichever is most applicable. The next step is to multiply that number by 4.5. The new larger number will tell you how much you need to ask for in proposals in order to then actually sell the amount you need, given a closing ratio of about 25%. This is the beginning of pipeline management.
4) Cookbook – This is where the rubber hits the road. To accomplish any goal, you have to break it down into its most basic parts…action steps. This is the section dedicated to scheduling specific behaviors that, if you execute properly, will practically guarantee success. Based on the amount you determined in the previous step that you need to propose, how many appointments, new prospects, cold calls, networking events, referrals, and etc. is needed to make that happen. Too many salespeople say they want to sell more, but either aren’t willing or don’t know what they need to be doing each day in order to make that happen. Plan your work.
And then work your plan. It’s a powerful process that encourages salespeople to take more control over their financial success.
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Happy Selling!
Tags: Business, Business Development, business plan, goals, prospecting, Sales, salespersonCategories: Business, Business Development, New Business, Sales, Success.
Thank you for posting. This is some great advice, considering many sales people operate as self-employed professionals. These 4 sections are a simmered down version of a full blown business plan. I agree, it all starts with vision. One must have a target for which to point the arrow. A vision not only paints the picture of your future but allows you to clearly establish wear you want to be. It is much easier to work backwards from that picture to determine the smaller goals in between, and then put together an action plan to achieve them.