Every business is different and requires a different approach to increasing sales. However, by looking at each of the following 5 steps in the sales process separately, a business owner can identify ways to increase their sales figure in a systematic way:
1) Generate more enquiries
2) Generate more meetings from enquiries
3) Generate more quotations after meetings
4) Convert more quotations into customers
5) Earn more per job/customer
If you improve any of the above 5 variables, your overall sales figure will start to increase.
I’m sure that the above are common sense to most people. However, most business owners are so busy providing their core service (and all of the administration that goes with running a business) that they often leave the generation of new ideas to chance – as it is difficult to focus.
Most business owners aren’t born a salesperson (and perhaps have had no desire to become one in the past). It is likely that you started out in business because you like providing your service/product – and you are good at it. However, most soon come to realise that they need to get a good grasp of “sales” – or find someone that already has it to help them. The alternative is business failure, fast.
I’ve found that setting a couple of hours aside – perhaps once a fortnight, perhaps away from your normal place of business, perhaps with a small group of friends/family/other business owners (i.e. in this group!) – allows you to focus on your overall sales direction.
I like to:
- Start with a blank sheet of paper.
- Split the paper up into the above 5 section headers.
- Write down what you are already doing to increase sales in each of those 5 areas (it may become apparent to you or a person that is helping you that you are lacking in a particular area).
- Discuss and write down (in a different colour) new ideas on how to improve each of the 5 areas.
- Mull over each idea (with other people if possible), eliminate (at least for now) the weaker ideas and implement your best ideas – setting an action plan and time-frame for the implementation.
We’ll take a look and discuss ways of improving each of the above 5 sales areas in the next 5 posts.
Take a look at the next post: Increasing Sales: Generate more enquiries
If you are interested in increasing your personal wealth and growing your business then why not get in touch with me?
Managing director of Enhance Accountancy. Chartered Accountant. Helping UK businesses to grow and meet their financial reporting obligations since 2003.