Do I really need to set sales targets?
Monday, April 15, 2013/
Should I set strict sales targets to keep on track and motivate myself? Or will it just make me stressed if I don’t meet them?
Think about it this way, if you were to hire a salesperson would you set them strict targets or let them float around with no direction.
The answer is clear to me. The reason for almost every business failure is a lack of SALES! So this is the life blood of your small business; be hard on yourself and make sales, don’t slacken off now!
I use a simple tool to keep me motivated. I look at my average sale value and then look at how many people I have to speak with to make that sale.
For example, if your average sale value is $250 and you have to call 10 people to make the sale; divide the $250 by 10 and get $25. So for every “no” answer on a phone call I imagine that call earned me $25.
Great motivation! So your nine negative responses earn you $225 and then the tenth gives you the balance of the $250.
It’s a simple game to keep me on track and keep me hitting the phones until the sale happens. I also set myself a call target.
I say to myself, I will sit here until I have two appointments/sales and dedicate my time to make this happen. Be strict with yourself, ring a bell, do whatever it takes to keep sales coming in.
Think about your business as a plane sitting on the runway ready for take-off.
You have to hit 250km/h to reach take-off speed, then once that happens you keep the throttle down until you can cruise at the right altitude.
That’s how to fly a plane. On the other hand, if you hit the throttle half way down, you will never get off the ground.
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