With the holiday season underway, and the New Year just around the corner, many business owners are scrambling to put the pieces of the puzzle together to help ensure their business gets off to a great start in 2018. Does this sound like you?

Well, Here’s a News Flash for You… You are Not Alone!

No one wants to have a failed launch or be behind before the New Year even gets going, so I wanted to share some things you can do, starting today, to get your business on the fast track to greater, sustainable future success. I have reduced my rather lengthy list of suggestions to a short list of the most important actions to take to finish off this year with a bang and make next year your best yet.

12 To-Do’s to Successfully Close Out 2017 – and Jumpstart 2018!

Since this is the season of giving, here’s my gift to help you and your business set the table for sustained growth and future success.

1. Have a Plan.

A written plan that is. Had to add this caveat because far too many of us miss this important detail. A written plan is a performance contract.

2. Live Your Goals.

Having a written plan and goals is a wonderful start, but if you don’t commit to them, and live them daily, you’ll never achieve them.

3. Manage Your Time.

How are you using this precious resource? Time-block to ensure your daily To-Do’s get done. This will help you accomplish more in less time.

4. Focus on Today.

Today is all we have. Focusing on yesterday or a future date is a waste of time. Devote 100% of your energy to making today your best day so far.

5. Expand Your Network.

Network and be visible. Whether you enjoy networking or not, it is an absolute necessity to grow your business. So, get out there!

6. Improve Your Health.

In all “Five F” areas – Faith, Family, Finances, Fitness and Fun. Have specific milestones you want to reach as a part of your personal goals.

7. Invest in Others.

The people in your life are your greatest blessing. Make time for them, nurture the relationships, and take them with you on your journey.

8. Enhance Your Skills.

It is hard to grow others if you are not growing yourself. Commit to continuous learning. Read, write, speak, attend classes and workshops, etc.

9. Find a Mentor.

We all need a Coach or Mentor who offers wise counsel to enable us to achieve our goals, expand our horizons and stay on track.

10. Take a Vacation.

When was the last time you unplugged from the daily grind? We all need “me time” and family time to refocus, reenergize, and get away from it all.

11. Do Good Deeds.

Give of your time, talents and treasures in service to others. Volunteer and be charitable. Make some good things happen and create a ripple.

12. Enjoy Your Life!

If you are not enjoying what you’re doing, what is the point? Life is far too short. Find something to be grateful for, each and every day!

Making the To-Do List is Step 1 – Committing Will Get it Done!

My 12 To-Do’s may not cover the waterfront, but they’re a good start. The rest is up to you. Make your list, check it twice, and commit to it, so you don’t end up on anyone’s naughty list this time next year.

12 To-Do’s to Take Your #Business into the New Year by @TresCoach #RocksDigital #Motivation
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Did the 12 To-Do’s open your eyes? Which one is tops for you right now? Let’s hear your thoughts in the comments!

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Can SMART goals produce dumb results? The short answer is yes. But the better question to ask yourself is “How can we keep this from happening to us?”

What are SMART Goals?

SMART goals are Specific, Measurable, Achievable, Relevant and Time-bound.

The main problem with SMART goals, or goals in general, is that they are just ideas, thoughts or expectations. They generate no energy, no forward motion until you take action. If you make a half-hearted attempt to achieve them, or are not fully committed, then what happens? Poor (or dumb) results are the eventual outcome.

Goal-setting and planning are balance sheet approaches. They offer only a snapshot of what is important to you today, and how to get there from here. However, there is no momentum, no “wood behind the arrow.” Without this momentum being generated and directed, it’s hard to reach the intended target. A P&L approach is required to make them come to life.

Don’t misunderstand my message. I believe that having clear-cut goals and actionable plans is essential to growth and success in any endeavor. In fact, I’ve devoted an entire online course to goal-setting and planning, “Discover YOUR Formula for Success.” However, they are just a part of the puzzle because as you know, more than goals and plans are required to produce great results.

So, what are the missing links critical to consistently producing great results?

How to FACE Your SMART Goals

To answer this question, I have created an acronym, FACE – because there just aren’t enough acronyms to go around these days. Besides resources, there are four critical links needed to help bring your goals and plans to life, and produce great (not dumb) results.

1. Focus. Be sure to align your SMART goals and plans with your actions, so you don’t get derailed, and greater success can be achieved as an outcome.
2. Accountability. If it’s to be, it’s up to… who? Hold yourself and your team accountable for making it happen. This is a major stumbling block for most of us.
3. Continuous Improvement. If you’re not getting better, you’re falling behind. Just think what a 1% improvement each week would translate to annually.
4. Execution. Without proper execution, your goals and plans cannot be effectively carried out. In fact, as much as 85% of success can be tied to execution.

Avoid the trap of thinking that the hard part is done once your goals and plans are in place. The fun is just beginning. At the end of the day, more emphasis on FACE is what will ultimately get you to the finish line.

Win SMART Goals Start with the FACE…

If your SMART goals are producing dumb results today, it’s probably not a failure on the part of the goal-setting process. In all likelihood, it’s because one or more of the critical links above are being overlooked. FACE provides us with the impetus to reach our goals, continue to improve and to achieve greater success at whatever we set out to accomplish.

When SMART #Goals Produce Dumb Results by @TresCoach #RocksDigital #Business
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Now you know that SMART Goals need FACE-time too! Do you have a favorite FACE component? Jump in and share your thoughts in the comments below!

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As entrepreneurs and business owners we know that when the a new quarter rolls around, we’d better be running!

“Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion or it will be killed. Every morning a lion wakes up. It knows it must outrun the slowest gazelle or it will starve to death. It doesn’t matter whether you are a lion or a gazelle: when the sun comes up, you’d better be running.” – Anonymous 

One of my favorite quotes, and so appropriate for this time of the year. So, let’s talk about it. Is your run rate running fast enough to get you to the finish line and enable you to achieve your 2017 financial targets?

What is the “Run Rate” for Your Business, and Why is it Important?

The “run rate” is an overly simplistic way of predicting the future financial results of a company based upon current financial performance. For example, if your business brought in $1 million in revenue for the first quarter, then the run rate would be $4 million for the year, or $1 million times 4. However, for most businesses, the run rate approach is not an effective indicator for future financial performance.

Why? There are too many variables that can impact future financial performance, particularly for businesses that do not have monthly recurring revenues or fees. On this point, I encourage all of my clients to consider adding a recurring revenue component to their services portfolio.

Reasons to Add Recurring Revenue to Improve Your Run Rate

1. Provides more predictable income
2. Makes budgeting and forecasting easier
3. Supports scalability and growth
4. More efficiently manage time and expenses
5. Enhances long-term client engagement

Most importantly, having predictable monthly recurring revenue allows you to spend less time and energy growing the business, versus trying to acquire enough new business to hit the same revenue number as the previous year.

You may think that the magic number for figuring a year’s worth of revenue is 12. However, for subscription-based products or monthly recurring revenue models, every new dollar of revenue that is brought in will be with you for the balance of the year, so there is a multiplier effect. This is particularly true for sales booked in the early months of the year.

OK, Back to Our Original Question: Is Your ‘Run Rate’ Running Fast Enough?

If not, what short-term actions are required to accelerate the pace of growth and enable you to reach your financial targets? At this time of the year, it is less about predicting future financial performance, and more about making it happen! I have offered one suggestion already – add a monthly services component.

Short-Term Sales Strategies to Improve Your Run Rate

1. Promotional offers
2. Special discounts
3. Value bundles
4. Cross sells or upsells
5. Product upgrades
6. Win-back program
7. “Try It – Buy It” program

The desired outcome for any business is to sell more, to more clients and more often, and not have to play catch-up at the end of the year. Whether it is the run rate formula, or some other approach (i.e. Rule of 78), the point is that we all need the right tools in place to enable us to more accurately forecast results, and the right actionable programs so we can be ahead of the curve when the 4th quarter rolls around.

Remember: Run smarter, not harder – but keep running!

How to Supplement Your #Business’ Run Rate by @TresCoach #Sales #RocksDigital
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The strategies above can definitely help you employ the tactic, “run smarter, not harder.” How’s your run rate as we enter Q4? Does a particular tip above speak especially to your industry?

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Wondering what selling from the rear looks like? There is a sales process to help you get through it, so don’t worry.

“You have a less than 10% chance of winning our business.”

If this were the customer’s response to your proposal, how would you respond? According to The Wizard of Odds, the probability of an overall win in blackjack is 46.36%. So, you’d be better off playing blackjack than pursuing this customer’s business – or would you?

Get Started with the Sales Process

What should your response be when you’re in a loss position and have to sell from the rear? Should you pack up the tent and go home, or press ahead? Before we answer the question, it’s important to look at how to avoid this situation, while increasing the odds of winning future business.

Before you devote time, energy and resources to a proposal response, you must first answer the following questions (borrowed from Power Base Selling):

1. Do we have an opportunity?
2. Can we compete?
3. Can we win?

If the answer to any of the above questions is “no” then you are done, walk away. Walking away from an opportunity is the hardest thing to do for anyone involved in sales. However, from a business perspective, if the odds are stacked against you it’s the financially prudent thing to do.

Now, let’s say that we had answered “yes” to the questions above prior to proceeding on the initial proposal, and the customer’s response to our bid was “You have a less than 10% chance of winning our business.”

How do we proceed in the sales process, given that the odds are clearly not in our favor?

There are three solutions to every problem – accept it, change it, or leave it. In this real-life sales process we made the decision to change it. Here is the approach we took to win the final bid and secure the customer’s long-term business (Hint: it can work for you as well).

6 Ways to Work the Sales Process to Close the Deal

1. Go deeper in your research.

Before I met with the customer, I reviewed three years of the company’s annual reports and quarterly financial statements, looking for any “hot spots,” major areas of emphasis, and significant business trends compared to their key competitors.

2. Know the customer’s real buying criteria.

When the customer said we had a <10% of winning, my response was “based on what?” The answer was purchase price. From the research I had done, I knew there were other factors important to their decision beyond just price. Fun Fact: According to the latest study by Stax, Inc., a global strategy consultancy, price is the #1 buying consideration only 18% of the time, and in the Top 3 only 47% of the time.

3. Change the ground rules.

In this situation, we were able to move the conversation away from price to those other factors – i.e. growth, off-balance sheet financing, useful life of the asset, budget and tax implications. When all factors were taken into account in the cash flow analysis, we proved our case.

4. Sell beyond the bid process.

By changing the ground rules, we were also able to focus on the long-term business outlook and showcase how off-balance sheet financing would work in the customer’s favor in budgeting for future projects. No competitor addressed these broader financial considerations, giving us a clear advantage in the end.

5. Get the other key players involved.

The C-level executives, primarily the CFO and leasing partners, were brought in during the final stages of the decision process because of the broader implications of our recommendations.

6. Set the table for the long term.

After we won the initial bid, our sales team began work with the customer’s project team to develop the plans required to meet their long-term business needs. This allowed us to work on multiple projects simultaneously, and to stay engaged with the customer for years after the initial sale was completed.

As Anthony Iannarino points out in his book, The Lost Art of Closing, the process of buying and selling today is non-linear. Most sales processes are dynamic and involve a series of stops, starts, and unpredictable human interactions.

Be Creative and Show Value in the Sales Process

Selling from the rear, or from any vantage point in the sales process for that matter, offers you an opportunity to be creative and distinguish your business by demonstrating your unique extended value and ability to sell outside the lines.

Use this #Sales Process to Close the Deal by @TresCoach #RocksDigital #Business
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Have you faced the same roadblock in the sales process? Share what resonates with you in the comments below!

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Well, the first month of the 2nd half of the year is almost over, so let’s look at your sales goals. How are we doing so far? Are you on track to meet or exceed your fiscal year-end goals? If not, what’s your strategy to get things moving in the right direction?

How to Make Sure You Achieve Your Sales Goals for the Year

Delete the words “One of these days” from your vocabulary.

If you’re looking for ways to get your business results back on the right track or set the table for a strong finish and even better 2018, consider these 6 actions to rev up your 2nd-half results.

1. Focus on the Now for your sales goals.

With only 5+ months left in the year, there’s no time for “one of these days” brainstorming, or procrastination. It is time for action, so postpone those conversations that have a longer-term planning horizon. Focus instead on what to get done today, this week, this month, etc., and make it happen!

2. Apply the 10% Rule to everything.

With a shorter planning horizon, expectations must rise proportionately. Determine the impact the following would have on results:

• Increase revenues and profits by 10%
• Reduce operating expenses by 10%
• Improve customer retention by 10%
• Enhance employee productivity by 10%

Would these across-the-board improvements be enough to address the shortfall? If not, what else needs to be done to achieve the targeted results?

3. Increase prices.

Increasing prices is an effective way to improve both top-line and bottom-line results. Why? Because increasing prices requires minimal resources to implement, the returns to the business are immediate, and represent net profit improvements. Do your homework in advance to ensure that proposed price increases will not result in excessive customer losses that could offset any revenue and profit improvements.

4. Offer special incentives, discounts and promotions.

This will pull through more sales volume from both current and new customers into the 3rd and 4th quarters. Short-term actions such as value bundles, upsells, cross sells, back-end sales, upgrades and special offers are great ways to attract more prospective buyers and increase sales.

5. Likewise, establish new short-term programs to recognize and reward employees.

Yes, recognize those who go the extra mile to help the business meet its 2nd-half goals, or close more business in the next 30-60-90 days. This is also a great way to ensure buy-in from the team.

6. Above all, making the work fun can help meet sales goals.

Sure, there’s going to be more stress involved when you are chasing the rabbit, but don’t let that dampen your enthusiasm or hurt morale. Keep the team focused and energized with both designated and spontaneous activities – i.e. cold calling pizza day, team building exercises, group outings, etc.

Are You Gambling with Sales Goals?

Investing solely in organic growth is an expensive way to grow any business. Why? Because in net present value (NPV) terms, costs hit the books before the revenue is recognized. I refer to this as the “Wimpy Effect” – remember Wimpy’s favorite line from Popeye, “I will gladly pay you Tuesday for a hamburger today.” By relying solely on organic growth to address the gap, you’re “betting on the come,” and in Las Vegas there’s a term for that – it’s called gambling!

“If everything seems under control you’re just not going fast enough.” – Mario Andretti

It’s the 2nd Half – Pick Up the Sales Goals Pace

No one wants to be playing catch-up (or gambling) during the 2nd half, or at any other time of the year for that matter. However, when your results are lagging behind you have to be more aggressive, and not just rely on organic growth to get to the finish line. It is also essential to create that extra sense of urgency and drive for performance without making yourself and everyone around you crazy.

Taking corrective actions like the ones highlighted above will help you rev up 2nd-half results, and prepare for a brighter future ahead.

Make Sure You Reach Your #Sales #Goals by Year-End by @TresCoach #RocksDigital #Business
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Are you on track to meet this year’s sales goals? Have a favorite tip? Let us hear how you plan to pick up the pace in the 2nd half!

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Much like a carpenter, plumber, painter or craftsman of any kind, you need to have the right tools to be effective in your profession, and that includes sales. Without the proper training and tools, your likelihood of success is limited.

The Tools Every Sales Professional Should Have to Be Successful

Let’s start out with the basics.

The Sales Binder

A “shrink-wrapped” sales binder is a sort of bible for anyone involved in selling. It should contain all of the materials needed to help you complete a sales transaction, from starting to prospect to getting that signed contract. The contents of a well-designed, shrink-wrapped sales binder should contain the following materials.

1. Cold Calling/Prospecting Script
2. Sample Sales Letter(s)
3. List of Qualifying Questions
4. Top 5 Sales Objections + Responses
5. Brochure + Marketing Collateral
6. Product Fact Sheets
7. Sample Proposal Template
8. Customer Testimonials
9. Price List
10. Order Form
11. Credit Application (if required)
12. Customer Contract

Looking at this list of requirements from top to bottom reveals the essential resources to go from prospecting to closed sale. And make sure to include your business card so they know how to reach you!

That’s a great start, but it is really just the tip of the iceberg. In addition to the sales binder, high performing sales professionals need access to training and other vital resources to augment their toolkit and advance their knowledge and skills. In the remainder of this article, I have categorized those extra resources I believe are important.

In sales, the best preparation for tomorrow is being your best today!

In these next two categories, I have listed recommended books on selling to add to your library, and sales training programs for you to consider attending – both will enable you to be your best and prepare for future success.

Check Out these Top Sales Books

• The Greatest Salesman in the World by Og Mandino
• How To Win Friends & Influence People by Dale Carnegie
• The Psychology of Selling by Brian Tracy
• How to Master the Art of Selling by Tom Hopkins
• Secrets of Closing the Sale by Zig Ziglar
• The Little Red Book of Selling by Jeffrey Gitomer
• The Referral Engine by John Jantsch
• SPIN Selling by Neil Rackham
• Selling to the Very Important Top Officer by Anthony Parinello
• Swim With the Sharks Without Being Eaten Alive by Harvey Mackay

Don’t just read these classics, take copious notes to help you develop and/or refine a sales “game plan” for your business or sales territory. You should also subscribe to relevant sales blogs and newsletters to help you stay abreast of the latest sales tips and techniques.

Recommended Sales Training Firms

• Strategic Selling by Miller Heiman Group
• Solution Selling by Sales Performance International
• Sandler Selling Methodology by Sandler Sales Institute
• The Adaptive Platform by Holden International
• SPIN Selling by Huthwaite International

Put what you learn in these outstanding sales training programs into practice, and build on the experience in your daily prospecting and selling activities.

Tech Tools for the Sales Pro

At a minimum, you need the following tech tools in your repertoire to make it easier for prospects and existing clients to do business with you.

• Business Telephone and/or Smartphone
• Desktop Computer, Laptop or Tablet
• All-in-One Printer, Scanner, and Copier
• Customer Relationship Management System (CRM)
• Company Website
• Business Email Account
• Square or Mobile Payment System

These must-haves will also help you stay ahead of the competition, improve communication and workflow, and enhance productivity.

Sales Requires Social Media Activity

You should be connected to and be communicating with your marketplace via your website, blog, or newsletter in addition to:

• LinkedIn
• Facebook
• Twitter
• Google+
• SlideShare, and other social sites they visit and share content at regularly

The global marketplace has become increasingly social, so you need to be engaged with clients, prospects, and other stakeholders in a variety of ways to remain top-of-mind.

Top 25 Sales & Marketing Experts to Follow

I highly recommend that you follow these 25 experts to help you gain more insight about your craft:

1. Trish Bertuzzi @bridgegroupinc
2. Jeb Blount @SalesGravy
3. Paul Castain @PaulCastain
4.  Don Cooper @TheSalesHeretic
5.  Patty Farmer @PattyFarmer
6.  Barb Giamanco @barbaragiamanco
7.  Jeffrey Gitomer @gitomer
8.  Matt Heinz @HeinzMarketing
9.  Mark Hunter @TheSalesHunter
10. Michael Hyatt @MichaelHyatt
11. John Jantsch @ducttape
12. Anthony Iannarino @Iannarino
13.  Ron Karr @RonKarr
14.  Jim Keenan @Keenan
15.  Jill Konrath @JillKonrath
16.  Mike Kunkel @Mike_Kunkle
17.  Paul McCord @paul_mccord
18.  Nancy Nardin @sellingtools
19.  Lori Richardson @scoremoresales
20. Steven Rosen @StevenARosen
21. Tibor Shanto @TiborShanto
22. Leanne Hoagland Smith @CoachLee
23. Mari Smith @MariSmith
24. Robert Terson @RobertTerson
25. Wendy Weiss @Wendy Weiss

Being engaged with this elite group of industry experts will afford you access to great content and resources – i.e. blogs, books, whitepapers, newsletters and so on, so if you are not currently following them, get connected today.

Whether you’re involved in direct sales, are a business owner primarily responsible for sales, or a territory sales representative with a larger company, you need the right tools to be successful. Please take the time to carefully go through this rather exhaustive list and see what should be added to your sales toolkit to help you achieve greater success in the future.

Do You Have the Right Tools for #Sales #Success? @TresCoach shares on #RocksDigital
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What is in your sales toolkit? What tools are missing that you are going to add now?

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