For the past 25 years I have helped entrepreneurs realize what I refer to as Explosive Sales Growth, or said another way;
I help organizations Create sales velocity.
Sales velocity occurs when you connect your product or service to a market need, and create messages that clearly tells them how you solve those needs for your buyers.
Sales Velocity is Sales Acceleration, with Direction and creates Momentum.
Creating Sales Velocity is one common need every business has, particularly in 2009.
A few nights ago I attended the local TIE event here in Phoenix. As I mingled with entrepreneurs before our guest speaker I heard a constant need;
I have an amazing product (service) but we need “more” sales…now!
I met with a number of entrepreneurs and their passion for creating something bigger than themselves seemed dampened by the immediate need for sales. I shared some “quick win” techniques that always work for me, but I went on to explain that what they really want is to create Sales Velocity.
I have helped entrepreneurs and their teams grow businesses and what they often need first is sales acceleration. What I mean by this is a number of quick wins in new accounts or new products placed in existing accounts. A big part of sales acceleration is intentionally driving the sales you want to grow. When entrepreneurs mistakenly say they want “more” sales, by default they are saying “any sale will do”.
Not all sales are good sales if they strain your team to “slightly” change your product or service.
These “slight “changes slowly pull you form the core of your business and distract focus.
I have served a variety of industries and the best way to create intentional sales acceleration is always they same; talk to your customers and others in your market. In doing so you must determine “current truths” because your gut and intuition alone will not drive the growth you desire.
I think we have all seen the monthly sales charts that resemble a heart rate versus a market leading organization. Sales are up, and then off, up, plateau, then drop.
As an entrepreneur you need sustainable, repeatable sales or your personal heart rate will fluctuate as you try to plan cash flow.
When you implement a ; creation of sales velocity mind set, you have specific targets that support your overall vision, road map and serve market needs.
One of my favorite classes in high school was Math and Physics. (odd for a sales guy huh?) The concept of momentum always fascinated me. How a body of mass moving with direction creates an energy of its own, and that energy can be transferred to other things that the mass bumps into.
Sales momentum occurs when your sales pick up in a positive, intentional direction with velocity.
However, if you have one particle (sale) going to the right, the other to the left they cancel each other out. ( how sales and marketing often act) Once you pay commission you have a net negative effect on your bottom line for the energy produced. If you sum the two momenta together, you get a total momentum of zero. ( this is what often occurs when sales teams are asked to …”hit your numbers and make it happen” …because that is what we “sales guys” are wired to do. However if not directionally focused and aligned with your road map the net result over time is zero added value to your bottom line( and often reduces the value of your business).
The real fun begins when you have a number of particles (sales) bouncing around in the right direction. The equation gets a little sophisticated and the total momentum of N particles (sales), of masses and velocities as
The net result is increased sales and the valuation of your business increases if done correctly.
(Thanks to Joshua Deutsch for the above equations.)
As an entrepreneur and future market leader you do not want “more “sales you want “sales velocity”. When you realize sales velocity you experience sales acceleration with direction that builds a sustainable momentum over time.
Sustainable momentum provides predictable cash flows and helps you find willing investors for future expansion.
Do your sales look more like a heart rate monitor?
Do you have salespeople “making it happen” but the way they are making it happens seems to cancel each other out?
Are you or your salespeople running in many directions, getting your organization exhausted …without building momentum?
Over my next series of posts I will be discussing entrepreneurial best practices. I will be sharing personal experiences of what worked as well as did not produce in hopes of helping entrepreneurs shorten their sales cycle and accelerate their revenues and profits, and most importantly the value of their business. I am always looking for thought leaders to contribute as it is my goal to add value to the entrepreneur community.
If you have thought leadership for entrepreneurs, please contact me.