Wednesday, December 9, 2009

What's Next for Your Business

Traditional growth tactics have run out of steam. Cost-cutting is a temporary fix, at best.

Most organizations cannot sustain market share with simple innovation. Mergers and acquisitions rarely pay off in genuine business growth mostly due to misdiagnosis of current reality and/or poor execution of clear strategies.

Simplistic “quick-fixes” (including hit and miss sales training) fizzle out. A clear winning strategy includes a balanced approach with specific sales strategies clearly linked to an overall mandate; rigorous attention to maximizing selling time; a team approach using inside and external resources; aggressively developing required selling competencies; technology that supports (rather than drives) a clear sales effort; and a compensation system that shares created wealth rather than attempting to bribe performance out of people.

Key Components:

Taylor your offering around creating customer value and serving their future needs rather than executing a demographic focus

• Ensure that your offering is clear, distinct and based on a one-to-one model rather than “one size fits all”

• Design your skills development around creating the results you want, rather than the latest fad, or a generic strategic selling model

• Determine which product offerings merit time and resources and rigorously focus your efforts in their direction

Measure What Matters. Average salespeople engage in a flurry of unfocused prospecting activities. When faced with a “qualified” prospect they typically turn them into dissatisfied customers. Highly productive professional salespeople consistently and methodically invest ten to fifteen percent of their selling time on new business development.

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