How to Achieve Hyper Sales Growth for Your Business. Entrepreneur MBA Podcast 3.6
Summary: Today Stephen Halasnik and his guest Jack Daly discuss how to achieve hyper sales growth for your business. As a business owner, there comes a time where you need to take a deep dive and analyze your own company, and the people in it. For many business owners, you can get so lost working in your business that you forget to work on your business. If sales and marketing are not your strong suits as an owner, it is crucial to make sure you have people working in your business who are. Building a team of people who know how to grow quickly & profitably are some of the most important aspects need to skyrocket your sales.
Analyze Your Sales Team and Sales Management
Firstly, when it comes to scaling your business and getting leads, you have to take a step back and analyze your business fundamentals and leadership. Some of the best sales organizations have two main positions, a sales manager and marketing manager. Depending on the skill set of each employee, you want to always ensure that your company has individuals giving their primary attention to sales and others to marketing.
When you try to combine both sales and marketing managers into one, they will most likely always give their attention to one area more than the other.
Create a Sales Playbook for Your Business Decisions
As Jake Daly points out, a team of salespeople most of the time always have different business tactics. Typically, salespeople approach a customer on a Monday different than they do on a Friday, and similarly different on a Wednesday than a Thursday. So what is the right way to really approach your customer?
Instead of having all your salespeople approach a call in a different way, you want to take a look at your best salesperson and see what/how they are doing it. A professional sales coach, sales trainer, or keynote speaker will encourage your salespeople to find what works and stick to it. Jumping around from sales pitch to sales pitch is okay sometimes, but more often than not there is always one reason that causes your top performers to be doing so well.
In a sales workshop, one of the things to do will be identifying major objections and figuring out the best responses. Figure out the main reasons people initially say “no” or “not now,” and then you have to practice the solutions your salespeople should say. Once you practice this enough times, your team is going to be equipped with the best responses to any objection that comes their way, and gain new customers.
In addition to analyzing your high performers, take a look at what type of work your salespeople are doing on a day-to-day basis. There is high payoff (HPA) activities and low payoff activities, and as a business owner, you need to figure out what your employees are doing, and how they can increase their high payoff activities. Throughout the day, if your employees can increase their productivity, you are more likely to bring in new prospects.
Build a Solid Company and Corporate Culture
Solid company culture has everyone in all different departments on the same page, who are able to also focus on their strong suits. A good place to start before trying to make any improvements would be to first ask yourself “what do my company and salespeople have to do better than other companies?” You should always be able to answer this question in a few short sentences while being able to get to the point. If you can’t you will want to work on that before anything else.
A strong culture also has a team of people that is able to listen to their customer’s needs. Your salespeople should take notes so they can rally just listen to a customer Letting a customer talk is critical to making a sale which is contrary to what most people think sales is. A good salesperson is one who functions based on building trust, customer loyalty, and who genuinely wants to help their customers. If you or your sales team has lost sight of this aspect, you can always start with why you think your company and product can help them better than anyone else.
When there are hundreds of competitors out there for your customer to choose from, you want to offer them logical reasoning behind why they should choose you. However, it can be easy to get buried in all the logic and reasoning behind a product, that sometimes salespeople forget how to appeal to emotion.
Build Systems in Order to Withhold Tough Times
Lastly, guest Jack Daly, author of “Hyper Sales Growth: Street-Proven Systems & Processes,” drives home the idea of having different touch systems and a strong system. If you don’t already know Jack, he has been at the CEO level of several national companies and knows that there are many businesses that can be successful, but also many who fail.
When talking about building a system, you want to make sure that the system that your business operates on is one that can withhold economic downfalls such as a recession, or even industry pitfalls. Each unique industry has its time for disaster, and the strength of your business will be tested during those times. Sometimes high school sports teams are run better than most sales organizations or businesses due to their passion and ability to follow the direction of their coach.
Some of the brightest thought leaders like Simon Sinek build their own unique and individual philosophies on building strong systems. If your startup or small business is built on a weak foundation, there will be little wiggle room for error and mistakes, and that is why you want to build your company with a “winning culture” mindset.
Building your sales force so it is strong, resilient, and can withhold can obstacles is not an easy task. It can even be overwhelming at first, so it is crucial to know your starting point before jumping in to change things around. With the proper changes and analytics done to your team, management, and systems in place, you will be able to turn your business into a sales machine.
About the Guest Jack Daly, JackDalySales
Jack Daly is a leading sales speaker and trainer with over 30 years of sales and executive experience. Jack’s track record is a testament to his real-world knowledge and extensive expertise in sales and sales management. He started his professional journey at CPA firm Arthur Andersen and rose to the CEO level of several corporations, building six companies into national firms along the way, two of which he subsequently sold to the Wall Street firms of Solomon Brothers and First Boston.
In addition to his comprehensive professional background, Jack holds a BS in Accounting, as well as an MBA, and was a Captain in the U.S. Army. Jack Daly is an Amazon Best Selling Author and has written and contributed to many books, including Hyper Sales Growth and The Sales Playbook for Hyper Sales Growth. Jack is a 15-time Ironman competitor and has completed over 93 marathons in 50 states and on seven continents. He achieves these goals and lives life to the fullest by following his own Life by Design techniques.
About The Host Stephen Halasnik, Financing Solutions
Stephen Halasnik is the host of the popular, The Entrepreneur MBA Podcast. The Entrepreneur MBA podcast’s purpose is to help small businesses get over the $10 million per year in revenue mark. Mr. Halasnik is the Co-founder and Managing Partner of Financing Solutions. Financing Solutions is a leading provider of Lines of Credit to small businesses and nonprofits
Mr. Halasnik is a graduate of Rutgers University and has an Executive Masters from the MIT Birthing of Giants Entrepreneurship program. Mr. Halasnik has started and built 6 companies over 25+ years with 2 of those businesses making the Inc 500/5000 fastest growing list. Mr. Halasnik is a best selling Amazon author on business and regularly tweets about his ideas about growing a business. You can also find Mr. Halasnik on youtube talking about Entrepreneurship.
Mr. Halasnik loves small business. He lives in New Jersey with his best friend, his wife Gina. Mr. Halasnik’s number one purpose is raising his two boys, Michael and Maxwell, to be good men.
About Financing Solutions
Financing Solutions small business financing product is a great alternative to a traditional bank line of credit because it costs nothing to set up, nothing until used, and when used, is inexpensive. The credit line requires no collateral and no personal guarantees.
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Please feel free to fill out the no-obligation, 2-minute business line of credit application here.The time to set up a credit line is when you don’t need it so that it is ready to be used, just in case.
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