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Road Map to Profitable Sales
Developing A Sales Plan
Originally published in: WPI Venture Forum

When developing a sales plan it is important to focus and integrate eight key areas for maximum sales productivity:

  1. Sales process
  2. Business development
  3. Sales process documentation
  4. Management
  5. Training
  6. Recruiting
  7. Operations
  8. Performance monitoring

In order to create a comprehensive sales plan, there may be many components that need to be addressed. Some of the components that impact sales performance are sales force benchmarking, sales force automation, compensation, channel management, and product life cycle.

If you're living life in the fast lane, you have to focus and prioritize, so let's start with number one - sales process - because it is number one in terms of its impact on productivity and performance.

Here's what you're up against. According to a recent study by Towers Perrin, during a two year period the average sales force turns over about 43% and is downsized by 20%. In this kind of environment just maintaining sales productivity is an incredible challenge - never mind trying to increase it! And that means in order to be successful, you'll have to find ways to optimize sales performance.

Develop A Game Plan
Because sales is the last frontier of non-processed business activity, you can gain an advantage over your competition if you build a process that gives you measurable, quantifiable, predictable result that are easy to implement and most importantly, sustainable. Without a comprehensive game plan, your company is likely to get crushed by a competitor who is smarter, quicker, and better prepared.

A documented process also gives your salespeople the structure they need and provides them with a written account of how to get the job done in the most efficient and effective way. And unless your unique way of doing business can be replicated every single time, you can't produce consistent results. This means that you could end up paying for something you're not getting or it's below the standards you expect.

Missed Opportunities
Top sales performance happens when you develop a plan that ensures your sales team is not missing sales opportunities. Missed sales really hurt! They mean a loss for you and a win for your competitor. What causes missed sales opportunities? Usually it's not the product or the price. Most sales opportunities are missed because the prospects aren't thinking about your company when they are ready to buy.

Typically, companies do not have a well defined and documented process that proactively, profitably and consistently introduces the sales force to the people that they should be dealing with.

Instead, you need to help your salespeople to be like top performing hockey players, who know to skate where the puck is going to be - the window opportunity. Research shows that prospects must be "touched" 6-7 times before they will act on your sales message. You need to be sure that your salespeople are "touching" your prospects when the window of opportunity is greatest.

Boost Sales Opportunities
You can't win if you can't compete. Your can't compete if you don't have the opportunity. Don't keep following the same route. Get out of that comfort zone. Make sure your sales plan is based on a well defined, documented process, so you know how you're going to achieve your goals. Put your basic blocking and tackling in place first.