In my last post I talked about some critical steps growth-oriented companies must take to unleash their growth potential. Although I had written a lot, after re-reading the post I realized I had not exhausted the subject. So, here are an additional 3 steps you should consider as you continue on your growth journey. As I mentioned before, these steps come from the work we’ve done at Chief Outsiders helping CEOs realize their vision for their company.
3 Additional Steps for Growth
- Keep sales motivated and engaged – So you’ve gone ahead and hired a few new sales reps who are geared up to provide the sales growth you’re looking for. The question is, how will you keep them motivated and engaged? While it’s true that good sales people are self-motivated and often self-sufficient, they do need support to keep in the game (good reps are in demand and will leave for the next best opportunity if they don’t think it exists with you). To support them you need to address several areas.
- Pipeline - Where will their leads come from? Will all their leads be self-generated (do they have the contacts or the process) or will the company provide marketing support (in what form)?
- Managing the funnel – Are they knowledgeable and disciplined enough to go after the right opportunities or will their productivity be hampered by chasing deals they shouldn’t go after? What support or guidance do you need to provide them to ensure they are engaging with the right prospects and addressing their best opportunities?
- Moving through the sales process – Do they have a solid understanding of the buyers’ needs and the product/service knowledge to properly address them? Are they equipped to properly represent your product or service, and/or is technical support or other people with subject matter expertise available to call in if needed? Do they have the right information and content to attract prospective customers and give them a reason to move them to the next stage of the sale?
Don’t forget the original 5 steps for growth
- Have a clear position in the market
- Select a market to target
- Identify and target your buyer
- Give your prospects a reason to talk with you
- Give your prospects a reason to buy
While I’m sure there’s more than can be said on the topic, I’ll leave it here for now. I expect myself or another Chief Outsider will revisit this subject in future posts as it is central in the minds of our clients and growth-oriented CEOs everywhere.
Have your own tips you’d like to share? We’d like to hear about them in the comments below. We've already collected one bonus tip courtesy of Jim Schwarz who commented on my last post is to take leverage your product and process strengths to innovate and go outside your box. As Jim notes, “This will involve risk but certainly will increase the market space so as to grow the business.”
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