Everyone has a sales cycle – this is defined as the average time it takes you to identify and ignite a viable sales opportunity through to closing the sale.
Taking immediate transactional sales out of the equation – like buying something on the spot – a sales cycle can vary from industry to industry and can be as short as 1-7 days or span 12 months to two years, or even longer if we are talking really major sales.
However, industries withstanding, for most B2B salespeople an average sales cycle is more likely 1-3 months. So as we begin the new financial year here in Australia it might be worth noting that if you have started your new financial year with zero opportunities in the pipeline and your average sales cycle is three months then you, my dear salesperson, are already three months behind your financial year target.
When it comes to achieving your sales financial year targets, you need to manage and work your sales activity year. Taking the example above, what this means is that to kick off this financial year with sales landing in the first month you needed to have been prospecting and igniting viable opportunities three months prior.
So whatever our sales cycle is, be it one month, three or nine months, we need to work our sales activity year to achieve our sales financial year targets.
The best way to keep ahead of the looming end of financial year target is to always do regular prospecting every week; that way you will never start the new financial year behind.
Remember, everybody lives by selling something.