Luke 14:28

​Luke 14:28

For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it?

Christian Based Selling

As sales professionals much of our anxiety is rooted in the concern that we are not spending our time on the right things.  The Word instructs us to be diligent in our planning to  ensure we have the capital to accomplish our goal.   The capital we must manage for our success is time.  Time is our most precious resource and we need to invest it wisely.   

In my opinion, there are six sales functions that require ongoing planning and time management:

•  Territory Management
   - how do you allocate time across accounts
     and networking  
•  Network Development
   - development of new and existing business
      contact relationships
•  Network Opportunity Development 
   - Leveraging your network to identify new
     opportunities within or outside your target  
     accounts
•  Target Account Opportunity Development
   - building cross-functional contacts and
     account intelligence to drive new
     opportunities ​
•   Pipeline Management
   - working opportunities though or out of the
      sales funnel
•  Closing
   - manage proposal development,
      preparation of pursuit team for the closing
      meeting, legal, procurement and contract
      negotiation  

I suggest categorizing your prospecting and pipeline management into three simple target sizes:

1. Small Accounts / Opportunities
    - 1 to 3 mo. sales cycle; 10 to 15 % of quota
2. Medium Accounts / Opportunities
    - 6 to 18 mo. sales cycle; 25 to 40 % of quota
3. Large Accounts / Opportunities 
    - 12 + mo sales cycle; 50% + of quota

Together with your management (and perhaps other leadership or colleagues in the company who can offer insight), analyze your territory or list of accounts and slot them into these three buckets.  The key to success is striking the right balance between risk and reward. I encourage you to develop a territory plan that prioritizes accounts based on the growth strategy of your organization and the merits of your solution.  We need to focus on the accounts and the opportunities in which we have the highest probability of success.         

As a general rule I am not a fan of chasing small deals unless there is an advantage such as a strong relationship with the buyer or a referral from a customer to the buyer.  A quick win will keep the cost of sales low and bring in revenue.   Otherwise, small one-and-done deals often require the same amount of time and have the same risk level as larger deals.  What is the best use of our time?       

Wow, there are a lot of demands on our time!  The dynamic nature of our work requires frequent evaluation of our priorities.  I advise taking time on friday afternoons to assess what changed during the week and make any necessary adjustments to your goals for the weeks and/or months ahead.  

How do you prioritize accounts in your territory?  Do you feel you are using your time effectively?  If not, how can you make improvements?