15 Your Next Vision Flashcards
What happens when you reach your initial sales goal?
You may realize that your goal was set too low and that a bolder vision could have led to greater revenue growth.
This reflects the tendency to underestimate potential when starting out.
What are the two primary variables to success in sales?
Activity and effectiveness.
Both factors need consideration for achieving sales growth.
What is a common misconception about increasing sales activities?
That simply increasing activity levels is the only strategy needed for growth.
New activities may yield better results than merely doing more of the same.
Provide an example of reallocating sales activities.
Creating industry vertical specialists to direct sales efforts toward clients who benefit from specialized knowledge.
This can lead to increased effectiveness in sales.
How can changing follow-up activities improve sales effectiveness?
By requiring teams to send follow-up reports that summarize client discussions and outline next steps.
This enhances client communication and engagement.
True or False: More discovery in sales conversations is always better.
False.
Better discovery that creates value for the client is more important than simply having more discovery.
What is a key initiative for sales leaders to focus on annually?
Increasing the effectiveness of the sales force, both individually and collectively.
Effectiveness multiplies the results of each activity.
What is a common misbelief about training in sales organizations?
That training equals transformation.
Training can help but does not guarantee significant change.
What should sales leaders assess to improve their team’s effectiveness?
The competencies and character traits that need to be enabled or improved.
A competency model can guide this assessment.
What is the danger of the ‘why us’ approach in sales?
It often provides no value to prospective clients and can drive them to competitors.
Focusing on client needs is more beneficial.
What should sales teams focus on during discovery conversations?
Helping clients learn about themselves and their potential for improvement.
This approach increases the value created for the client.
What role does building consensus play in sales?
It is essential for closing deals and can prevent losing client initiatives.
Many organizations neglect this crucial aspect.
What is a common mistake made by sales leaders regarding resources?
Asking for increased revenue without recognizing the resources required for growth.
This often leads to unrealistic expectations.
What might organizations benefit from to improve order acquisition?
An inside sales function that focuses on existing clients while field sales pursue new clients.
This can enhance efficiency and results.
Why is it important to retain high-performing salespeople?
Losing them can significantly set back revenue growth and client relationships.
High performers often have valuable client connections.
What resources do sales managers often neglect to ask for?
Resources for training and development to improve team effectiveness.
Securing a budget for these is critical for growth.
What is a key factor in planning your next sales vision?
Identifying changes you want to make and keeping a master document of ideas.
This helps in organizing thoughts and initiatives.
When is the ideal time to build your new sales vision?
October, as it marks the beginning of a new quarter.
Planning ahead is crucial for achieving annual goals.
What is the first step in calculating next year’s revenue?
Estimating existing revenue based on current clients and their commitments.
This provides a foundation for future revenue expectations.
What should sales managers do if they need additional resources for the upcoming year?
File requests well before October to align with budget planning.
Early requests are essential for budget approval.
How can a territory and account plan assist in sales?
By identifying potential clients and understanding where new revenue will come from.
This helps in strategizing sales efforts effectively.
What is the significance of understanding client categories?
Categorizing clients as ‘safe’ or ‘at risk’ helps in revenue projections and retention strategies.
It informs risk management in client relationships.
Fill in the blank: The formula for revenue growth includes projections of existing revenue and _______.
net new revenue.
What should you prioritize in your initiatives for team growth?
Prioritize initiatives by their contribution to growth
Focus on what you really want for your team and recognize that you have time to make progress.
