Is your sales team making their numbers each month?
Are you growing top-line revenue in your small business?
Have you tried to figure out the best way to maximize your sales?
Growing sales, regardless of what products or services you provide, can be accomplished in four ways.
The first is to increase the number of opportunities in your sales pipeline. This can be accomplished by working with existing customers to sell them additional products or services, or by finding new customers. The more opportunities you have in your pipeline, the more potential to grow sales.
The second way is to increase the dollar size of your transactions. This can be done by bundling products or services to create a higher sales amount, or identifying others in the company who may be candidates for what you are selling.
The third method to grow sales is to decrease the time between identifying opportunities and closing them. This means that opportunities stay in your pipeline for a shorter time, and that you increase the velocity of how quickly you make the sale.
The fourth manner is probably the most important.
Improving your win rates. If you are currently winning 25 percent of your opportunities, and can improve this to 50 percent, it will have a big impact on your sales results.
Measuring, managing and improving the number of opportunities you are working on, their size, the time they spend in your pipeline and your win rates are four ways to help you grow sales in your small business.