Completing Your Mid-Year Sales Recalibration
We’ve hit the mid-year point again. Many small businesses are looking at their numbers and asking “can we get there from here?” That depends, are you going to leave it to chance or are you going to aggressively manage it?
To aggressively managing it doesn’t mean just more sales! It means making sure you’ve answered all the right questions to support more sales as well.
I often find that small business owners think that sales are the only thing that affects revenue. Not the case! That’s one of the reasons I developed the Tuning Your Revenue Engine model in the first place.
While sales is part of it. If the other things are also addressed all the sales in the world won’t get you to the goal! You need to make sure you have the answers to some key strategic questions.
None of these topics are new. I’ve written about all of them in the past. Let me just organize them here so that you can see how to apply them to your mid-year planning.
Do You Know Which Revenue Predictive Metrics to Monitor?
This is the heart of Tuning Your Revenue Engine. Monitoring those operational metrics that allow you to see what’s happening both across your business and in the market so you can do something about it. I addressed this topic in my post Become Proactive Instead of Reactive with Your Revenue!
Do You Have Excess Capacity to Sell?
Selling more won’t help if you don’t have any more to sell! Do you know the maximum capacity of your operation? When do you hit it? How much will it cost to add more?
Not knowing the answers to these questions can kill your business. Not being able to deliver is a death sentence to a small business. Read the old post Maximize Revenue by Selling Your Excess Capacity to address this potential problem
Are Non-Sales Functions Affecting Revenue?
Capacity is one of those “non-sales” issues that can cause revenue problems. Others include your price, your marketing, etc. Not addressing the entire problem will not help you increase revenue either. The previous post title “Is Something Other Than Sales Affecting Your Revenue?” will explain the non-sales issue that could affect revenue.
Do You Have a Sales Plan?
A sales plan is a critical resource to hitting your revenue goal. Without one your sales team is just other there doing whatever to hit their numbers. While this may seem fine, it’s not scalable. So it always is dependent on the team you have and doesn’t allow you to expand when necessary. Read Building Your Sales Plan Doesn’t Have to be Rocket Science to find out how to put together a simple yet effective plan.
Start With the Simple Stuff?
Many people avoid the sales plan because they think they need to be sophisticated with a sales plan. It’s really just the opposite. You want to start with the simple stuff. But, if you don’t spell it out for the sales team they may make it more complicated than it needs to be. Here are 4 Tactics to Jumpstart Your Sales that are simple and very easy to apply immediately.
Are You Investing Enough in Your Marketing?
At some point you’re going to need more leads than you already have in-house. Marketing is what finds you more! But, how many and how much do you need to market to generate enough leads.
Again, this goes back to the Tuning Your Revenue Engine model. If you do the calculations the model will tell you exactly what you need to know.
Much of what’s addressed here can all be answered very simply with our model. That’s why we advocate the use of it with anyone that asked for help.
To help those that have not already begun using the model we have a mid-year special. You don’t need it to increase your revenue. Just follow the instructions in this post and you can get there. If you need more assistance feel free to contact me directly.