It’s not that annual reviews are bad… it’s just that they’re not enough! Whether the person you are managing is doing a great job, a terrible job, or performing somewhere in-between, waiting twelve months to let them know that information is damaging to them and to your company.
Sales staff turnover may be the most expensive and frustrating thing a sales manager has to deal with these days. You know the cost of making the wrong hire extends far beyond their salary and commissions, but did you know that their compensation probably only accounts for about 28% of your total loss? A recent study determined that managers waste about 150 hours of time on each wrong hire on top of the additional costs from soured client relationships, additional disruptions, and opportunity costs. Your mis-hire could cost you as much as 15 times their annual income!
I recently had the opportunity to be a part of our Talent Focused Management workshop, which is designed to help managers develop and coach their sales teams by identifying individual talents, providing guidance and developing coaching based on the defined talent and proven tactics to increase overall performance.
I’m sure those of you who are parents can relate to my recent struggle to get my 8-year-old to clean her room. A messy bedroom is often a bone of contention between parents and children. I tried numerous tactics to get my daughter to clean her room, and I heard every excuse for why she couldn’t clean up including, “I can’t because my hands are tired.”
Then, it dawned on me! Why am I threatening her with unpleasant consequences like timeout or no TV time, when I know a little encouragement works like a charm?
This is one of the coaching questions I am asked most often, so chances are high that you’ve wondered the same thing. My short-and-sweet answer to this question? No, it is not wrong. Not even a little bit.
I’ll even go one giant step further by saying that in most cases, it is actually imperative that you are friends with the people you manage.
For those of us who are parents, we know that while we try to help our children avoid mistakes, we also want to give them some leeway to have learning moments of their own. Of course there is a time and a place for learning moments. The same goes for our teams when they are prospecting for new business. We shouldn't allow our newer salespeople as much leeway (like our younger children) as we do our more seasoned veterans (our older children) especially when it comes to prospecting.
Here are 5 tips to help newer sellers determine their best prospects:
It’s not uncommon for a salesperson to want to be a sales manager. In fact, one could easily see a promotion to sales manager as an indication that one has excelled in his or her sales career. If you’re thinking you should pursue a position in management because you are a successful salesperson, I’d like to propose an alternate idea: being a great sales manager has much more in common with being a parent of small children than it does with being a great salesperson.
At The Center For Sales Strategy, we have proof that not all salespeople are meant to be great sales managers. The talents required to succeed in each position are very different. It’s a big mistake to think that just because you have been with your company for a long time and have “paid your dues," you will be happier if you were suddenly promoted to manager.
Ask yourself: On a scale of 1 to 5 (5 being the highest), how do I rate my desire to do the following?
Research with our client base, practical experience, and many years of consulting sales organizations of all sizes makes one thing abundantly clear: the biggest single problem salespeople experience is securing high-value appointments with key decision makers. If you agree, keep reading.
Think of sales performance as a three-legged stool. When all three legs are strong, there is nothing sturdier. But if one of the legs isn’t holding up its weight, the stool can no longer do its job. Just as you need all three legs on that stool, so too must a sales organization have three solid legs to carry the weight of the expectations placed on it.