A sales manager’s number one priority is to create a sales team that is as talented as they are. Think about it. The average sales leader has a team of seven people working for them. If each of those team members has twenty selling interactions per week, that's a total of 140 client interactions. How many can your sales manager be involved in personally? Not many. Yet, a surprising number of sales managers think that their job is closing the deal and making the number.
According to a 2017 Sales Management Association research study, U.S. sales leaders concluded that fewer than one out of five new sales hires added over the past 24 months have been successful.
To err is human - and in hiring it's very expensive. Think about what's at stake if you don't get talent right.
- In recent years, 43% or more of all sellers failed to make quota.
- Typically, 20% of the sales organization produces 80% of results.
- Each wrong hiring decision can add up to a million dollars or more in direct and indirect costs.
The man (Jack Weinberg) who coined the phrase “Don’t trust anyone over 30” is now 77. This may shock some of you who listened to Jack give his speech, or quoted yourself early on in your career. While those born at the end of the generation are teenagers, early Millennials, born between 1980 and 2000, are now part of that group. Does this mean we don’t trust what they have to say because they are now part of the establishment?
Most mergers and acquisitions fail – so says conventional wisdom. It’s true that the business landscape is littered with deals gone bad: Up to 70% of M&A transactions don’t achieve the financial and strategic results expected of them.
The reasons for failure, from flawed assumptions to insufficient planning, poor execution, and cultural conflict, are numerous and well known. However, some firms consistently do this kind of growth very well. How do they succeed where others fail?
Finding and keeping top revenue generators is a key challenge that even Best-in-Class companies face. Great leaders understand that their organization is only as strong as its people. To support revenue growth and achieve organizational goals, industry leaders are adopting a relentless focus on getting their hiring strategy right.
Finding top talent that successfully fills a skills gap is a big challenge facing most organizations. While this issue can impact many areas within an organization, finding the right sales expertise can be particularly challenging, since sales has such a direct impact on revenue generation for the company.
As sales executives, it’s easy to spend all of your time focused on the number, while neglecting the process that will get you there. But, the smartest sales leaders know that "providing the how" and developing a process for consistently coaching their reps is one of the fastest paths to meeting revenue goals.
Two of the most overlooked essential skills are listening and questioning. While these may seem like easy skills to master, they're often the reason why many opportunities don't move forward.
If you want a top performing sales organization, you need the consistent ability to coach and enable salespeople to success. Providing motivation is a component, but results come when your managers have a cadence that helps them minimize administrative burdens, while providing continuous and effective coaching that does one thing - delivers revenue and enables sales results.
Your managers are a pivotal part to the success over your sales organization. Here are the top sales leadership skills they need to develop and execute.
Think about the best coaches or the best managers you’ve ever encountered. What did they do that made them great? Often, they have the ability to motivate and push you to greater success. The skill behind those traits is the ability to meet people where they are.
There are many sales organizations out there that fall into that 80/20 rule. Eighty percent of the revenue comes from 20 percent of the people. If you could improve that ratio, your sales results would improve exponentially. So how do you motivate those middle performing salespeople in a way that improves their productivity and emotionally connects them to being an A player?
The hiring and development of sales talent is often the least disciplined process within sales organizations. While sales leaders and managers are focused on helping reps build pipeline and close business, recruiting and the hiring process can often take a back seat to more pressing sales activities.