How to make your number in 2022.
Wow!!! 2021 is quickly winding down. Can you believe that another year is nearly in the books? I guess the adage is true, “The days are long, and the years are short.”
Now is a perfect time to take stock of your 2021 results. The economy is growing rapidly, so you have had the wind at your back. In addition, price increases are jet fuel for increasing revenue. You should be in the midst of a record year. If not a record year, then your growth should exceed GDP plus inflation, which is double-digit growth. If you have had a record year…congratulations! Now it’s time to begin preparing to beat your numbers. If 2021 is anything less than fantastic, it’s time to chart a new course.
You may be saying to yourself, “I have plenty of time t0 plan for 2022.” No, you don’t. Sales do not magically happen. They take time to develop for two reasons:
- Sales Cycle: Let’s assume you have a 3-month sale cycle. The activities you start today aren’t likely to produce results for 3 months which is the first quarter of 2022. If your sales cycle is 6 months, you won’t see results until the second quarter of 2022.
- Sales development efforts take time to produce results. Lots of managers are inclined to put training off until the new year. In doing so, they ignore the reality that sales development does not produce immediate results. There is a learning curve.
How long does it take to see results from sales development?
To calculate the amount of time before you begin seeing sales training results, add the sales cycle to the learning curve. For example, if you have a 3-month sale cycle and your team needs 6 months of development, you should begin seeing results at the 9-month mark. That means that if you wait to start training until January, you won’t see results until well into the third quarter of 2022. That sounds more like a plan for 2023 than for 2022!
Now is the time to prepare for 2022. Begin by answering these four questions. It should be easy since I have also included the answers!:
- Can we be more effective? The answer is usually yes.
- How much more effective can we be? The answer depends on your sales leadership, sellers, systems, and processes. The good news is that they are all measurable, and you can quickly determine your team’s upside potential. Start with a sales force analysis.
- What will it take to accomplish our objective? The commitment of the CEO/Owner.
- How long will it take to achieve that? Your sales cycle plus the learning curve. The learning curve is a function of your seller’s “figure it out factor,” size of the gaps that need to be closed, and the quality of your sales leaders.
Remember, “A year from now, you may wish you had started today.”
Jim Peduto is the Managing Partner and the co-founder of Knowledgeworx, LLC. Jim combines practical insight and big data to help CEOs and owners transform their businesses.