Michael Critchfield - Sales Forecasting While Running a High Velocity Sales Team
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Sales Acceleration Summit - This session is now available on demand: http://www.insidesales.com/events/2014/sales-acceleration-summit/michael-critchfield Session Overview When I started my sales career we talked about revenue in quarters and years. Now we talk about it in days, weeks and months; quarters and years then take care of themselves. At Insidesales.com, we evaluate performance and success on an hourly and a daily basis.
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Michael Critchfield - Sales Forecasting While Running a High Velocity Sales Team
- 2. #SalesSummit | @mcritchfield Michael Critchfield, Vice President of Sales, InsideSales.com High Velocity Sales
- 3. #SalesSummit | @mcritchfield Time is the enemy of all sales transactions.
- 4. #SalesSummit | @mcritchfield MATH + MUSCLE + HUSTLE
- 5. #SalesSummit | @mcritchfield MATH The Math of Sales Right Sales People Right product Right process Right Prospect │
- 6. #SalesSummit | @mcritchfield MUSCLE What does it require to create Organizational Muscle? • Define best practices • Execute to excellence Build Sales Success│
- 7. #SalesSummit | @mcritchfield HUSTLE Establish Cadence│ Execution of urgency • Incentive • Victory • Detail Evaluate performance
Notas del editor
- We are familiar with the sales adage, “..” In the Internet of today, everything is being done at an accelerated rate. Velocity is becoming a key indicator of performance. When I started my sales career we talked about revenue in quarters and years. In todays’s terms we talk about days, weeks and months, quarters and years then take care of themselves. And for some of our sales teams, like bus development, they evaluate performance and success on an hourly and daily basis.
- The InsideSales.com equation for success is math+muscle+hustlle = High Velocity Sales.
- Equation starts not with the lead, but with hiring to closeEquation for Sales Person Success Empathy – Ability to cognitively and emotively experience what another person is feeling. Understanding ones audience requires empathy. Ambition – is a desire for well being, faring well, flourishing. Ambitious drives us forward, requires us to overcome obstacles, and resolve performance. Ambition manifests drives us to be competitive since we must outperform our peers. Resilience – ability to control one’s mental and emotional state thereby controlling the level of anxiety we feel. Resilience requires that we see failure as a motivating factor. Outstanding sellers are not pros at losing. They are pros at denying there is a loss. (“Leveraging the Psychology of the Salesperson” HBR, July 2006 – Dr. Rapaille)Our research shows that “An individuals disposition is more reliable as a predictive factor in selling, than his or her prior sales-experience.”Selling the right product, at the right time, in the right way Understanding implicitly your value prop to the market Creating urgency and excitement for what and why you do what you do Creating a proven path of success that drives your prospects toward the end goal of a sellProspect = Product + process/ Their UrgencyProduct = Value * Benefit * Expertise (Creates urgency) over costProcess = systems + plays+tools Why, What, How
- Build an organization of Sales SuccessCreating organizational muscle memory requires organizational focus Define best practice (What you sell and how you sell it) – (Are you specialist or generalists) Execute to Excellence (Define the plan) Defining material that best practice into a physical plan (Tribal only works with the small) Create a model that incents on precision – sell the same way, sell the best way Inspect what you expect – metrics and visualization of data
- Establish cadence Execution at higher states of energy and efficiency Urgency through incentive Urgency through victory – power of the why (single unified goal) Urgency through detail – playbook and process Evaluating hourly and daily performance (Leaders must hustle) Morning meeting The afternoon check-in The evening review Do we do what we say when we say what we will do?