How Did This Happen?
Twelve months ago, you were planning your trip up the mountain. Every painstaking detail was thought out, detailed, and mitigated to ensure a successful trek. It feels like ages ago that you were outlining the plan to make your number in 2017.
You did it right this time, building a bottom-up plan that tied out to the top-down plan handed to you by corporate. You over-assigned to ensure you hedged the organization so the CEO and Board would see the efforts of your planning return value to shareholders. You managed out the poor performers and brought in new talent.
In summary, you were ready to summit the mountain this year and deliver the best results your company had ever seen.
Or so you thought… It came as a surprise when Q1 and Q2 closed with lackluster results, deals slipping, and poor management of opportunities by your team. Amid your climb to the top of the mountain, now you have a problem. You can no longer see the summit through the storms, gusting winds, and harsh conditions. You have become blinded by the mountain with no visibility of the path forward.
Did you know that approximately 50% of the people who purchase permits to climb to the top of Mount Everest reach the summit? By contrast, the numbers are much dimmer if your sales organization gets off to a slow start. Only 89% of companies who are behind after Q2 miss their number for the year.
Where Should You Focus?
How do you catch up to achieve or exceed the plan you committed to deliver in the 2018 planning cycle? Answer: Process, Adaptation, Execution.
Let’s begin with a refresh. The Sales Process Test Tool is a short test to validate your sales process is delivering the expected outcomes.
Get back to the basics and answer the eleven questions, then validate the best practices match your company’s current situation. If you have built an effective organization, answering these questions is simple because it’s the foundation you built to create the performance conditions your team need to succeed.
Being a strategic leader means you stay ahead of the market to maximize performance conditions for your organization through enabling your team to capture an excessive share of revenue from the market. SBI’s Q2 research is focused on revenue enablement. To better understand revenue enablement, download a copy of the report. You will see there are 3 focus objectives to improve revenue enablement:
- Revenue enablement improves overall product knowledge with the right content at the right time to the field.
- It improves productivity-per-head (and reduces the time-to-productivity for new hires) with the timely development of product-specific tools.
- During new product launches, a “Revenue Desk” is established as part of the revenue enablement effort. With Sales developing win strategies for active deals, this high-touch, cross-functional session enables the team to work together to win the business.
In between strategy and metrics is execution. The reason why execution is letting you down is discipline. Across all levels of the organization individual contributors, first-line managers, support organizations, and leadership team, discipline is a necessity and it starts at the top. The tone you set as the leader will drive the discipline your team brings to work every day.
To hear more about how important discipline is, I encourage you to watch a message from SBI’s CEO, Matt Sharrers: Matt’s Minute.
With those 3 things in mind, you have 6 months to recover and achieve success. You can break the trend and become one of the 11% of companies who recover from a slow start. It’s your turn to summit the mountain and look down upon the journey that led you to success. After you’ve experienced the recovery and succeeded, you can tackle a bigger mountain in 2019.
How Do You Avoid This in 2019?
Whether you are looking to deliver 2018 or plan for 2019, if you would like to participate in a custom workshop focused on creating value immediately through revenue growth, bring your team to engage with a hand-picked team of experts in Dallas at The Studio, SBI’s executive briefing center.
Leverage our Sales Process Test Tool to validate your sales process is delivering the expected outcomes by simply answering eleven questions.
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