How_to_Recover_from_a_Q1_Revenue_Miss-1

You just missed your Q1 sales number. You might be sitting in your office reading this right now. On a Saturday. Missing your son’s ballgame or your daughter’s swim meet.

 

The board meeting is approaching and you’re looking for answers. Perhaps it’s a hangover from a big Q4. Maybe your team drained the Q1 pipeline to make the number last year.

 

Regardless, the miss is painful. You have a board meeting coming up. 3 months ago you strode in there with great confidence. Now, you have to explain the miss. Ugh.

 

Is anyone else having this problem right now?

 

Yes. Close to 50% of companies will miss their Q1 sales goal this year. You are not alone.

 

You need a recovery plan. You’ll need to explain the Q1 miss and be confident in making Q2.

 

Download the Q2 Sales Recovery Plan and get started on hitting Q2.

 

What Happened?

Looking back at a bad Q1 is like revisiting a bad dream. Why bother?

 

There is wisdom to be gained from failure. There are endless examples of people turning failure into success. Business leaders, star athletes, actors, etc. It works.  

 

The Recovery Plan has 2 tabs. The first is the Q1 Audit. It’s a quick and simple exercise to learn from the failures of Q1. It has 3 Components to it:

 

  1. Get a list of the top Q1 deals that missed from Sales Ops
  2. Have your sales team explain why the deal missed forecast
  3. Get direct feedback from the customer on what happened. See here how to do this quickly

 

The goal of this exercise is to use real-time learning for your Q2 deals.

 

Getting Healthy in Q2

You’re going to nail Q2. The second tab of the tool will help you. It has 4 components to it:

 

  1. Top 10 deals and forecasted revenue
  2. 10 specific ‘yes/no’ questions for your sales team to answer
  3. A 1-10 score for each account
  4. An action plan determined by you and the team

 

The questions are aligned to a common late-stage buying process map. Addressing these now gives you visibility into the legitimacy of the deal. 

 

For example, more than 40% of all deals are lost to “do nothing.” One of the 10 questions is: Have we eliminated “do nothing” as an option?

 

If the answer to this is “no,” your Q2 deal may be in big trouble. With 90 days left in Q2, the value of this information is critical. You can actually do something about it!

 

This is where the action plan comes into play. You’ve surfaced a gap. You and the team can develop a plan to eliminate this as a risk. From there, it’s basic blocking and tackling by your sales management:

 

  • Pre-call preparation with the rep
  • Call execution
  • Post-call review and follow up

 

Have the sales manager close the loop with you. It allows you real-time feedback. You’re in control of your own destiny

 

A Win for You

Nobody likes missing the number. This is a problem that persists across almost 50% of sales organizations. 

 

The Q2 Sales Recovery Plan will help you accomplish all of these things. More importantly, it will set you on your way to making the Q2 number.

ABOUT THE AUTHOR

Ryan Tognazzini

Works closely with B2B companies to solve strategic business problems so that they will make their number.
Learn more about Ryan Tognazzini >

Ryan joined SBI in 2010 as a Senior Consultant. Since then, he has worked extensively with emerging growth technology companies, including SaaS, enterprise software, systems integrators and OEMs. Additionally, Ryan works alongside numerous private equity investors, performing both sales and marketing due diligence and organic growth initiatives inside their portfolio companies.

 

Among a long list of accomplishments, he developed and implemented a sales and marketing strategy that resulted in the turnaround of a $1B IT integration clients. He executed organic growth initiatives to help a $100M software company achieve 40%+ year-over-year growth in preparation for an IPO. And he worked with a $1B enterprise software client to transform their sales and marketing go-to-market strategy for their cloud and SaaS offerings. Not surprisingly, in 2014 he was voted SBI Employee of the Year by his peers.

 

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