CEO Advisor Newsletter April 2021
Effective Sales Management to Improve Performance
Sales management plays a critical role in the success (or failure) of your company. You set the tone, culture, goals and expectations and drive your business forward. With so much invested in your sales team, it may not be easy to take an objective assessment of your team. You will benefit tremendously through improvements in your sales strategy, hiring process, goal setting, compensation plans and sales management methods to increase sales, profits and value of the business. Below are important methods that will benefit you by re-assessing your own team and how you manage them with objectivity and discipline. CEO Advisor, Inc. has successfully implemented sales strategies and affected the needed changes in our clients for nearly two decades. Sales LeadershipBe a leader and a resource for your team. Share your own success stories, best practices, and advice on your areas of expertise, and provide direction to help your sales team in closing deals. Show your team that they can come to you with challenges and questions and expect to receive support and leadership. Weekly Sales MeetingsRequire that your head of sales conducts sales meetings every week. Consistent weekly sales meetings are absolutely critical to a motivated, focused sales team. Focus on goals, your sales pipeline and sales training each week to maximize sales productivity. Sales Management TrainingManagers often emphasize to their employees the necessity for constant development and training. The same applies to you as the CEO, president or business owner directing and training your VP of Sales or Director of Sales. Consider hiring a professional business advisor to optimize sales management within your company to help you manage your sales team towards a more productive and profitable year. Sales GoalsSales goals should be annual, quarterly, monthly, weekly and daily. Goals should include calls, appointments, conference calls, opportunities, proposals, closed deals and other sales goals. Sales goals vs. Actual sales should be reported on and discussed in a weekly sales meeting each month. Assessment and GrowthHow do you set your sales team up to succeed? Assess and evaluate skills, and then set goals that are challenging yet realistic. The more successes a salesperson achieves, the more likely they will strive for larger challenges and sales opportunities moving forward. Setting unrealistic goals may not allow for an environment in which the salesperson can grow and achieve results. Address Issues Head-OnDon't allow negative morale to penetrate your sales team. When signs of negative morale become apparent, find out what is at the root of your employees' concerns, and then have an informative and open conversation with them about their concerns to come to an expedited resolution. TrustThe primary role of any manager, especially a sales manager, is to provide leadership and guidance. The only way this will be effective is if you first build and maintain trust with your sales manager and sales team. Then you can lead them to many great successes and achieve your sales goals. AccountabilityCreate accountability in your sales team by ensuring that you follow up on instructions, requests and advice that you have passed down to them. Also, hold them accountable to their sales goals. In following up with them, you will also get a better understanding of the obstacles they are facing and be better able to advise them on how to overcome these issues. Lack of accountability by any sales team member should not be acceptable and addressed immediately. Communicate EffectivelyIt's important for everyone on the team, not just management, to be aware of and understand the overall goals of the company. Be sure to communicate frequently to ensure everyone is on the same page and communicate your goals regularly. Ineffective communications will cost you many customers and dollars! Give Praise - Sales is a tough job!Be sure to demonstrate your appreciation for your employees on a regular basis, even if it is in the form of a word of thanks for putting in extra hours, achieving your monthly sales goals or submitting reports timely. Let CEO Advisor, Inc. help you with your sales strategy and management issues and take your business to the next level.
Contact Mark Hartsell, MBA, President of CEO Advisor, Inc. at (949) 629-2520 to discuss your growth capital options, valuation and exit strategy in a no cost, no obligation meeting or online conference call, by mobile phone at (714) 697-3370, by email at MHartsell@CEOAdvisor.com or visit www.CEOAdvisor.com for more information.
Invest in Yourself and Your Business
As a business owner and CEO, you selectively make investments in your business on an on-going basis - meaning you invest in yourself! Given today's low interest rates and other stagnant investments, investing in yourself and your business may generate the largest return on any investment you can make anywhere on this planet. Investing in yourself and your business enables you to dictate your future and your success. Investing in yourself and your business also enables you to increase sales, profits and the value of your business toward an exit and the largest payday of your life.
Different than investing in real estate, bonds or equities, investing in yourself and your business is the key to your success provided you have the proper road map to achieve your goals.Don't go it alone - this may be the most important step of your life. Meet with a trusted, seasoned business advisor to discuss the steps below. Here are 5 steps you can take right now that will pay tremendous dividends: 1. Strategic DirectionThe direction of your business is critical to your success. Assess your personal strengths and weaknesses and gain feedback from a outside professional advisor on how to elevate your management skills. Now is the time to re-assess, strategize and review the year-to-date progress and make needed adjustments. Growing 10% year after year is not a success, and certainly will not increase the value of your business. Approach this year with a productive plan, clear strategy and sales focus to ensure success in 2021. For seventeen years, CEO Advisor, Inc. has helped CEOs create strategies for increased sales, profits and business value. 2. Set Your GoalsEstablish clear near-term and long-term goals for your business. Create your priorities and deadlines around what is needed to accomplish these goals. Then, assign personnel, management or advisors to ensure timely completion of these tasks and projects. This can be one of the best investments you can make. 3. Review the NumbersCreate key metrics for your business that will clearly tell you if you are on track to achieve results and your Financial Forecast. Review your Financials in detail each month and make sure to understand them thoroughly so you can address specific aspects of your business and make needed decisions based on your Financials. Track these key metrics monthly (in real-time if possible) as a critical step in the health, growth and success of your business. CEO Advisor, Inc. regularly assists CEOs in setting up these key metrics and KPIs to drive success, and can help you analyze your Financials and provide feedback on how to maximize your profits and value of your business. 4. FocusIf you are not sure where you're going, you will never get there. Focus on your highest priorities and document what needs to be accomplished, who will accomplish them and when these priorities must be accomplished by. Focus on what meets prospects and customers' needs, drives sales and profits, and builds value in your company. 5. Invest in Needed AdviceThe business issues above are just some of the more critical issues that you must tackle every day. The impact on your business, your life, your bottom line, your cash flow and the value of your business is tremendous. A trusted, seasoned business advisor can be the difference in your business success and achieving your life's dreams of a successful exit.
We address your specific needs with hands-on action, expertise and seasoned advice. Contact Mark Hartsell, MBA, President of CEO Advisor, Inc. at (949) 629-2520, by mobile at (714) 697-3370, by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.
Different than investing in real estate, bonds or equities, investing in yourself and your business is the key to your success provided you have the proper road map to achieve your goals.Don't go it alone - this may be the most important step of your life. Meet with a trusted, seasoned business advisor to discuss the steps below. Here are 5 steps you can take right now that will pay tremendous dividends: 1. Strategic DirectionThe direction of your business is critical to your success. Assess your personal strengths and weaknesses and gain feedback from a outside professional advisor on how to elevate your management skills. Now is the time to re-assess, strategize and review the year-to-date progress and make needed adjustments. Growing 10% year after year is not a success, and certainly will not increase the value of your business. Approach this year with a productive plan, clear strategy and sales focus to ensure success in 2021. For seventeen years, CEO Advisor, Inc. has helped CEOs create strategies for increased sales, profits and business value. 2. Set Your GoalsEstablish clear near-term and long-term goals for your business. Create your priorities and deadlines around what is needed to accomplish these goals. Then, assign personnel, management or advisors to ensure timely completion of these tasks and projects. This can be one of the best investments you can make. 3. Review the NumbersCreate key metrics for your business that will clearly tell you if you are on track to achieve results and your Financial Forecast. Review your Financials in detail each month and make sure to understand them thoroughly so you can address specific aspects of your business and make needed decisions based on your Financials. Track these key metrics monthly (in real-time if possible) as a critical step in the health, growth and success of your business. CEO Advisor, Inc. regularly assists CEOs in setting up these key metrics and KPIs to drive success, and can help you analyze your Financials and provide feedback on how to maximize your profits and value of your business. 4. FocusIf you are not sure where you're going, you will never get there. Focus on your highest priorities and document what needs to be accomplished, who will accomplish them and when these priorities must be accomplished by. Focus on what meets prospects and customers' needs, drives sales and profits, and builds value in your company. 5. Invest in Needed AdviceThe business issues above are just some of the more critical issues that you must tackle every day. The impact on your business, your life, your bottom line, your cash flow and the value of your business is tremendous. A trusted, seasoned business advisor can be the difference in your business success and achieving your life's dreams of a successful exit.
We address your specific needs with hands-on action, expertise and seasoned advice. Contact Mark Hartsell, MBA, President of CEO Advisor, Inc. at (949) 629-2520, by mobile at (714) 697-3370, by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.