The National Center for the Middle Market recently published a smart piece from Chuck Leddy on 4 ways to shorten your sales cycle: http://www.middlemarketcenter.org/expert-perspectives/4-ways-to-shorten-your-sales-cycle. Effective midmarket leaders understand the value of talent development for their sales teams. If you find the velocity of deals in your forecast slowing down or opportunities stalling, share Leddy's article with your team, and then try this exercise:
1. At your next sales meeting, ask your team to brainstorm the top reasons deals stall. Your list likely will include issues such as changes in key personnel, the prospect's procurement process, and budget changes, among others.
2. Record those issues on flip charts or a dry erase board (or if you have a virtual team and use online conference software, try using the online white-board).
3. Have your team vote on which are causing the greatest delays most frequently.
4. Divide your team into working groups and assign each a different top vote-getter. Instruct those working groups to discuss and capture ideas on A) Actions within their control that they can start taking right now to overcome those issues, and B) Actions other internal stakeholders can take to help them.
5. Reunite the team and discuss the working group results, and agree on which steps you can implement right away, which will need further discussion, and which the team leader will take up with internal stakeholders.
Accountability is key in making the results of this exercise succeed in the long term. As a leader, keep your team informed of the small wins you're seeing, as well as of the progress you're making with stakeholders, and be sure that your team members are holding one-another accountable. This simple session can yield quick results to moving past those yellow lights in the sales process on your way to faster closes and more accurate forecasts.
Comments
Post a Comment