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?
Improving sales performance is only possible when you address the external and internal factors that lead to high-revenue sales. Your ability to engage customers effectively while maintaining a consistent management operating rhythm drives high-value conversions.
Here are three specific actionable tips for improving sales performance of your team.