Since 2013, I have spoken loudly about the importance of building a business strategy focused on increasing income in a company. I talked about the importance of a carefully selected customer segment or several customer segments. However, I didn’t mention targeting your products or service to a huge crowd of different unspecified customers. I explained the specifics of the product and asked what problems you solve with your products and services. I showed the 4-stage sales process, the leverage that business partners (JV partners) offer, and cost calculation. But what about sales targets?
I have not talked about them!
Why? The truth is that after a few years spent in a corporation, after graduating from Economics, all indicators like KPIs, or sales targets (everything that tracks your effectiveness) were something
I really wanted to forget about…
I knew perfectly well that a company won’t be successful using the following approaches: “let’s sell as much as possible”, “let’s get as many customers as possible”, or “somehow, hopefully, it will be better than worse”.
At the same time, setting sales targets for myself sounded heartless. Moreover, it reminded me of the high sales targets set in corporations that people struggle to meet and get really stressed about. I said to myself, that I didn’t start my own business to stress over meeting my own sales targets.
(After all, my business is not about meeting sales targets.)
Well, what can I say after all these years? I can say that in 2013 and 2014 I paid my price for neglecting sales targets. What is more, I learnt 3 big lessons.
First, I changed my beliefs and associations with sales targets.
With the sale itself, I didn’t have too many limiting beliefs. It is probably also related to the fact that it has always been so natural for me to talk to my potential clients and check if there is actually a problem I can solve, if we want to work together and if they have the budget for working with me. Sales pitch and sales pressure were always out of the question and it has always worked well in my business. But sales targets? Ehh – it was worse…
Secondly, it was in 2014 that I realized for the first time that there are certain or maybe even a lot of business elements that we think that only large companies should implement.
I began to notice that for micro and small businesses, these elements might be the deciding factors for whether the business survives or prospers. Setting sales targets is one of those elements.
And third, I learned how to set sales targets and create sales plans based on my own financial goals, the strength of my marketing and sales systems , and my client segment.
And this, together with the financial plan, marketing, and sales conversions, began to give me an enormous competitive advantage and a drive for achieving more! I was able to build a marketing plan to show my team or marketing agency how many different people we need to reach. Otherwise, sales volume would become statistics and not unknown!
So summing it up, don’t neglect your sales targets. Calculate first how much you need to sell to actually make money. And then calculate your marketing conversions and plan your marketing campaign!
If you have no idea how to calculate your sales targets, and your prices so you can achieve not only high revenue but also profit then you can always schedule a consultation with me.
Based on the answers to my questions sent to you before the meeting and our conversation I will show you step by step:
- What you need to recalculate and how to start the calculations in your business,
- What to pay attention to so that your turnover in the company goes hand in hand with profit and with your free time.
So yes – no selling pitch on that meeting but an honest analysis of your business, a roadmap tailored to your business needs, and a bunch of handful tips on how to implement it!
Also, check out our other articles: