Investor, Sales and Marketing Pioneer, Author, Technology Champion, Philanthropist, Leadership Mentor
Everyone in your firm is probably wondering “How has this economy affected our business?”. “What is the company doing and what’s the action plan for 2009?”. Here are six ways you can use this Opportunity and Economy to Grow.
1) Reassure Top Champions that their jobs are safe and their bonus potential is even higher with the new plans for 2009 (even if their results may be lower). Wear your thinking hat and come up with a adrenaline charging Bonus plan for your sales champions.Praise the Sales Champions even for maintaining Status Quo. Just maintaining the previous levels of sales it self is a challenge. Overcommunicate that you have confidence in the team and world is not coming to an end.
2) Focus on existing customers :
3) Focus on Qualified Prospects/Industries and introduce targeted strategies to lower the risk of buying. Industries like Food, Alcholic Beverages, Healthcare are Growing even in this economy… Can your Business services these industries?. Can your business service Globally? With advent of Voice Over IP and high speed internet, you can have a UK line at your desk tommorrow -Go conquer Europe or Asia or any other continent left!!
4) Improve People, Processes and Technology/Software. Sales will improve with better training and improved processes along with superior software/technology. It’s time to improve, Trim the fat or the bottom 10% of your workforce, but don’t cut the muscle!! Actually, Grow the muscle through Training the rest of the folks in this economy. It is time for the rest of the champions that survived the cut to improve. I was speaking at a Conference on Sales & Marketing and one of the attendees asked “If we train our Sales folks and what if they leave”, I retorted back asking “What if you don’t train and your sales folks remain duds for life?”. Good times or Bad times, Training always pays. Invest in it now more than ever to get the best ROI.