Sales Inflection Points in Your Business Hiring and Building a Successful Sales Force Presented by

1. Innovation & Entrepreneurship Institute Sales Inflection Points in Your Business Hiring and Building a Successful Sales Force Presented by Lisa Peskin - CEO Business Development University

2. Objectives: Outline sales stages of a company Go over the 3 major areas of sales success Review top must dos in sales and sales management Discuss obstacles and challenges to entrepreneurs Provide 2-3 ideas that you can implement immediately that can help you be more effective and purposeful

3. A little about me and BDU…

4. What Do Entrepreneurs do in During a Tough Economy?

5. What Should Entrepreneurs Focus On During a Tough Economy?INCREASING SALES REVENUES!!!

6. How do you maximize your sales revenues?

7. Depends on your role Business Owner responsible for all sales? Business Owner responsible for sales and manages sales associates? Business Owner manages sales associates? Business Owner that manages Sales Manager

8. Stage 1 Business Starts Stage 2 Owner = Sales Stages of a Business Stage 6 Hire Vice President of Sales Stage 3 Hire 1 or 2 Sales Associates Stage 5 Hire Multiple Sales Managers Stage 4 Hire First Sales Manager

9. Stage 1 Business Starts Stages of a Business

10. Stage 2 Owner = Sales Stages of a Business

11. Owner = Sales Only X % time focused on sales Owner may be responsible for fulfillment/ operations Owner may not have sales background/ training Limited track record Resources limited

12. Stages of a Business Stage 3 Hire 1 or 2 Sales Associates

13. Ready to Hire Sales Associates • Inside sales vs outside? • How many should I hire? • Who should I hire? • How can I find them? • What is the best way to on-board them? • What is the best way to maximize their performance?

15. Stages of a Business Stage 4 Hire First Sales Manager

16. Ready to Hire Sales Manager • When are you ready to hire your first Sales Manager? • What is the ideal span of control? • What is the best way to manage the sales manager? • How do we structure the sales force?

17. Stages of a Business Stage 5 Hire Multiple Sales Managers

18. Stages of a Business Stage 6 Hire Vice President of Sales

19. Stage 1 Business Starts Stage 2 Owner = Sales Stages of a Business Stage 6 Hire Vice President of Sales Stage 3 Hire 1 or 2 Sales Associates Stage 5 Hire Multiple Sales Managers Stage 4 Hire First Sales Manager

20. 3 Major Areas of Sales Success

21. Conduct a Business Analysis for 2012

22. New business vs. repeat business • Source of new business • Characteristics of new clients • ROI on marketing efforts • Forecast vs. Actual • Progress against goals

24. Key Metrics to Measure • Activity and result goals • Calls, contacts, appointments • Close ratios • Average sale • % of quota • % of forecast • Months over quota

25. Annual Goal less Less YTD sales =Sales needed • Less forecasted business = $$ needed • Less Repeat business • Less Additional business = new business $$ needed • Divided by Average sale = # Sales needed • Close ratio = # Proposals needed • # Appointments/ proposal = # Appointments needed • # Contacts/ Appt = # Contacts needed Metrics – You Must Know Your Numbers!

26. #1 Key to have consistent results

27. Strategically Fill the Pipeline with qualified leads on a consistent basis

28. A rich pipeline makes you a lion PIPELINES A poor pipeline makes you a coward

29. Consistently Build Sales Pipeline

30. Which would you choose?10% or 30% or 70%

31. Prospecting Solicited Referrals Unsolicited Referrals Marketing Efforts Sales Pipeline

32. 30% 70% 70% 10% Prospecting Solicited Referrals Unsolicited Referrals Marketing Efforts Sales Pipeline

33. Networking Referral Sources Strategic Referral Sources Suspects Prospects

34. Social Networking & Staying Connected

35. Consistency is Key

36. Maximize Opportunities with Current Clients and Past Prospects – Squeeze the Lemon! • Additional business • Additional contacts • Referrals • Reference letters • Can you use them as a reference • Referral sources • Stories about why they love you • An understanding about what they want you to improve

37. Create a blueprint for success

38. Formulate a Sales Plan • 30/60/90 day plans • Measuring progress • Accountability • Rewards and recognition

39. Set S.M.A.R.T. Goals for 2011 • Specific • Measurable • Alligned • Realistic • Timed

40. Sales Activities High pay-off activities Understanding the numbers Goal orientation Tracking

41. Activity Tracking

42. Direct Correlation

43. Sales Activities

44. Effective Time Management • Time is valuable • Plan out time (daily, weekly, monthly) • Maximize opportunity costs • Make good decisions • Use to do lists • Take advantage of technology • Time Activated Priorities - TAP

47. Sales Process Build Business Rapport Set agendas and expectations Uncover needs – theirs and yours Present solutions Handle objections Close for next steps

48. SALES

49. Increase Close Ratios • Meet with decision makers • Consultative approach • Use stories • Multi-prong approach • Good follow-up systems

50. Sales Development Provide feedback effectively Triage areas Planning sessions Field rides Curbside critiques Training “Show” as well as “tell”? Knowledge and skills inventory Performance Improvement Plans