As a sales coach, I’m all about goals. My goal is to help salespeople achieve their goals—both personal and professional.
Every salesperson should know what their sales goals are. You might not have mastered them yet, but at the very least, you have a number you’re planning on hitting for the year. The goal is set—just start selling, right?
Your Sales Goal Isn’t the Only Number You Should Know
This story has happened more than a few times in my coaching career:
On a coaching call, I asked a client what his YTD revenue numbers were.
“I don’t know off the top of my head. Give me a second.”
After a few minutes, he was able to pull up his files and figure out what his current revenue status was. Then, I asked about the amount in outstanding invoices and contracts.
“Dew, I don’t know. I’m behind on my invoices. Let me look…”
It took a few more minutes, but I was willing to wait. It turned out he had over $100,000 in outstanding invoices. This amount happened to be the difference between hitting his quarterly goal or falling short! It was a wake-up call: he knew he had to start fixing the problem right away. A problem he wasn’t aware of until I asked!
The lesson was painful but clear: You have to know where you stand in real numbers. And you have to know those numbers at all times.
Are You Really on Track to Meet Goals?
On any given day, I’m able to say where my business stands (give or take a few thousand dollars). I know, because it’s important! If you want to reach any goal, you need to know how quickly you’re getting there day-to-day. How else will you know if something’s wrong or should be adjusted?
This is why it’s crucial to have weekly, monthly, and quarterly reviews. Analyze the numbers and compare between previous periods, as well as the same periods last year. Remember—you’ll need to incorporate upward trends into your plan to meet future goals. Just because you’re tracking to meet this year’s goal doesn’t necessarily mean you’re at the pace you need to hit next year’s goal.
Even if business is great and you’ve got so much revenue you don’t need to worry about making ends meet, you still need a constant finger on the pulse of your business. You need to know how much is coming in, how much clients owe you, and how much is going out. If you don’t, you’re living in a dream that may not come true.
Be a Champ—Know Your Numbers
If you’re one of the many, many salespeople not keeping a close eye on the numbers—start a new habit! At the beginning of every quarter, I put my quarterly goals and targets on a big wall-size sticky note in my office. Then, every Friday, part of my weekly wrap-up is to track how I’m doing and identify any issues with my sales pipeline or accounts that might affect the numbers. This way, I have plenty of time to make any necessary tweaks, and I can be sure I’m on my way to crushing my goals.
Until next time—go sell some stuff!