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Three Suggestions For Building A Sales Funnel In The New Year

If January marks the beginning of a new fiscal year for you and your team, here are three sales leadership suggestions that can help your team get started on building a productive funnel.

1. Define a Personal Quota Now!

It seems like the larger the organization, the longer it takes to distribute new annual quotas. I’ve witnessed some organizations take three or four months to distribute official quotas. The associated sales behavior in the absence of a quota is palpable. It’s no wonder why the first quarter is typically the least productive quarter for enterprise sales teams.

My suggestion is to select an interim aggressive growth target. For example, if your company is on a 20% growth trajectory, select a 30% or 40% growth target over the prior year for each personal quota target. Then develop each individual territory plan around this interim aggressive goal; including prospecting targets, call goals and so forth. The idea is to build and execute a territory plan without waiting for the machine to catch up. Then when it does catch up, the real but comparatively lower quota that actually gets assigned will feel like a relief rather than unimaginable, and your team will already be firing on all cylinders.

2. Identify, Develop and Roll Out a Strategic Initiative to Rally the Team.

Remember the adage, “When the going gets tough, the tough get going.” The idea is to select an initiative that is smart, achievable, adds to the success of the team, and moreover, is measurable. It could be a focus on adding services to every sale, or focusing on dominating a certain competitor, or a tactical target to call on three new executives in the largest account as just a few examples. Ideally it develops a muscle that is atrophied on your team, produces a measurable success, and is achievable. Use the initiative to spur action, share information, and further develop your own leadership skills.

Here are some key topics to include in your Strategic Initiative Plan and communication:

Why: Communicate why the initiative is important, and why it’s good for the team and individual.

What: Communicate tangible, measurable goals.

How: Communicate how the goals are to be achieved. This might include the identification of new skills, training, reading a book, activities that have not been used before, or teaming suggestions.

Consequence/Reward: Don’t forget to tie the initiative to a reward and consequence. It could be a specific SPIFF or a simple lunch on you, but a payoff is critical to the measurement and achievement recognition. Conversely, the consequence should be fair in proportion to the initiative and not arbitrary.

3. Celebrate Small Victories.

With twelve months in front of you, or three if you’re really quarterly focused, a strategic initiative can lose steam very quickly in the face of everyday distractions. Good leaders celebrate the small victories on the way to success. For example, if your selected strategic initiative is to call on three unfamiliar executives in your key accounts, celebrate success when each team member achieves their first appointment. The idea is to maintain a focus, keep the team motivated, and rise above the noise of the daily din.

Kevin Temple guides sales teams to be more agile and improve revenue outcomes. He can be contacted at kevin@enterprise-selling.com. The Enterprise Selling Group is a leader in delivering sales training, coaching and project oversight to improve the agility of sales teams around the world.