New sales will be slow as organizations review their cash flow and reallocate budgets based on their new environment. I am posting three short blog posts on how to grow revenue in this environment. Part 1 -What to do with current clients Part 2- How to close outstanding business Part 3- Future opportunity for growth In part 1, I suggested the best way to utilize unused current contract value with your clients. In part 2, I reviewed the steps to secure or move forward outstanding business. In part 3, I will discuss how to build your pipeline during this time. After watching the Tiger King, I am [...]
New sales will be slow as organizations review their cash flow based on the new environment and reallocate budgets. I am posting three short blog posts on how to grow revenue in this environment. Part 1 -What to do with current clients Part 2- How to close outstanding business Part 3- Future opportunity for growth In part 1, I suggested the best way to utilize unused current contract value with your clients. In part 2, I will discuss how to address opportunities that were in the final stages of closing before the quarantine. Pandemic or not, the longer an opportunity stays open, the lower the probability of closing [...]
This is part 1 of a three part blog focusing on growing revenue during the Covid 19 pandemic and aftermath. New sales will be slow as organizations review their cost allocations based on the new environment and new budgets. I am posting three short blog on how to grow revenue in this environment and ensure that you are part of the new budget. Part 1 -What to do with current clients Part 2- How to close outstanding business Part 3- Future opportunity growth Talking to my clients, I have noticed two things: The sales team’s workload is slow The operations teams are busy [...]
In my twenty-plus years working in sales and sales management, I cannot recall a stranger time to make sales. As we work together to contain the spread of the Coronavirus, sales managers are now operating a remote sales team, which requires a different set of skills than managing an onsite team. After being a work-from-home seller, along with managing satellite locations and in-home sellers, I wanted to share a few tips I have learned over the years. The first step is to understand the difference between a workday and productive work. According to the Bureau of Labor Statistics, the average [...]
Since 2002, Executive Mosaic has been the leader in connecting, informing, and educating executives through exclusive peer networking events and media properties. Executive Mosaic is the parent of the 4x24 Leadership program, Potomac Officers Club, ArchIntel, and Spectrum. It also executes the Wash 100, the award honoring the premier private and public sector leaders in the GovCon sector. Dealing with the most influential people in government contracting has its own unique set of obstacles. Even after being the industry standard for years, you are still trying to engage executives who have little time and competing demands. It is up [...]
College basketball grabs the nation's attention with the NCAA Basketball Tournament, March Madness. While you may rely on your favorite color or mascot to determine who wins the NCAA Championship, back in the '60s and '70s, you would pick the Bruins. That is when the greatest coach in history, John Wooden, was leading the UCLA Bruins program. In 1948, he took over a little known program as the head basketball coach at UCLA. By the time he retired in 1975, he had created a powerhouse, some of his records may never be broken, and is one of the most revered [...]
Any business who does the same thing year-over-year without change, improvement or advancement will experience a natural decline of 15%. To flip it, if everything stayed the same year-over-year, you would need to sell 15% more to make last year’s numbers.
As an organization, if your sales cycles continually runs long, you need to improve your process for predicting, identifying, and removing obstacles to closing the sale. If an organization wants to increase revenue, they should spend time eliminating impediments that slow the buying process.
Time to evaluate the year your assumptions from the beginning of the year to adjust your second half to increase sales. Also, how can you re-calibrate your metrics to attain the goal? If you are using a CRM and keeping it up to date, this should take you a half of a day.
As a seller, I can think of few phrases that I hate more than “let me think about it.” The longer a deal takes to close, the odds of closing drop dramatically. Why is that? The forgetting curve starts: 75% of the information is forgotten within 24 hours, 90% of the inforamtion is forgotten within 30 days and 50% of the information they can recall is