Sales Training Expert Shows you how to build and maintain the perfect funnel/pipeline.
One of the biggest challenges sales pros and sales leaders have is building and then maintaining a funnel that guarantees quota is crushed every month.
Begin with the end in mind. What is your goal? Once identified build out your own funnel formula using the guidelines below to see if you are on track. If not, pick one of the four metrics to modify, apply the appropriate lessons from the 5Cs training to build a quota busting machine.
Update yours twice per month as your numbers change because the formula will tell you what your activity level needs to be and where you need to focus your efforts. It will show you how many calls to make, how many meetings you need to book, how many new opportunities and at what average value you need to add each week etc.
And it will give you control, direction and peace of mind.
Your other option is to hope the phone rings, hope you get a lead, hope that your client asks for a new quote, or “throw a bunch of stuff against the wall” and hope something sticks.
HOPE. Are you kidding me? What are we 12 years old? Hope is not a strategy. Using a proven mathematical model is.
The funnel formula has 4 variables:
1. The number of opportunities on the go
2. The average $ value of each opportunity
3. Sales pro’s historic closing rate / if you are not sure use 25%
4. Average sales cycle time
the # of opportunities x average $ deal size x average closing rate%
average time to close
Look at a formula for a sales pro with a goal of $99,999 in gross profit.
100 deals x $10,000 = $1,000,000 x 25% = $250,000
3 months sales cycle
= $83,333 per month in sales x 10% GP
= $8,333 per month x 12 months
= $99,999 per year in GP. Sales pro made plan with this formula.
If a sales pro, sales manager, or channel leader was not making plan they would have to change 1 or more of the numbers until the math equaled or exceeded your plan target. Inputs = outputs.
Going to President’s Club!
If you increased the top 3 variables by just 10% and reduced sales cycle time by 10% what would happen?
110 deals x $11,000 x 27.5% = $332,750
2.7 months
= $123,240 per month in sales x 10% GP
= $12,324 x 12 months
= $147,888 which is a 47% increase vs. the first formula that produced $99,999.
Imagine that… getting a 10% improvement actually increases top line results by 47%!
WOW!
What impact would that have on your commission checks, over-ride checks and family life?
Use the funnel formula to get focused, get control, and to crush quota consistently.
In the 5Cs sales training course you will learn how to impact each one of those metrics in record time.
In summary:
1. create your own personal funnel formula using the numbers you’ve got / adjust your activities if need be to produce a formula that guarantees you make quota
2. do more of the right activities per your formula
3. make more money / have less stress
You can do it!
Write me anytime with questions. Happy to help you.
p.s. be sure to ask me about the most powerful tool I have ever seen to boost sales performance and results. It will literally knock your socks off!
