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Sales Goals

These are the parts you need to put together your sales goals:

Know what you want. I mean know exactly what you want. You have to have an exactly defined target/goal, or you’ll just be flailing away only hoping you hit it.

You need to believe from the beginning you can achieve your goal. If you don’t totally believe with every fabric of your being that it can be made, it probably won’t be.

Once you believe your goal is reachable you must ingrain that goal by writing it down, and saying it out loud over and over again. You must do this every day. Yes, you may look and sound silly to yourself, but you will be the one laughing your way to the bank.

You need to know your numbers – it must be measureable. If you want to make $20,000 in commissions in a month, what will it take to get that?

How many prospects?

How many calls?

How many appointments?

How many opportunities of what value?

Your sales cycle may be 30, 60, 90, or more days. So, if your product’s average sale cycle is 90 days, it’s too late to set goals for this month. You need to think ahead.

Sales Homework -Get your numbers together. If you have historical data, that’s great. If not, find the top selling rep and use their numbers.

Sales Managers -This should be an exercise that gets reviewed on a monthly basis. Even if your goals are quarterly or annually, you need to make sure your sales reps stay on track. Go directly to the next lesson: Setting Sales Goals: Doing the math.

Here’s an example; we’ll assume the length of time it takes an average customer to buy your product is 90 days. The only thing you need to adjust if your product’s buying cycle is shorter or longer, is how far in advance you need to start planning.

I like to work backward in planning. First, I pick my number. This number has to be in pencil. After you go through your numbers you may need to change it. If the number is not realistic based on the data you have, then you need to adjust your expectations. Then I try to visualize what that success looks like; maybe buying a new guitar, fixing the house, whatever. I try to see it in my mind and really try to get emotionally involved.

Now I start to plug in the numbers I need to do the next 30 days, so that 90 days from now I will have $20,000 in commissions. Assume a 10% commission on sales:

525 Calls per month- 25 calls per day x 21 days

26 Good prospects which lead to

15 Opportunities which lead to

10 Closed deals at an average deal size of $20,000, which is

$200,000 in sales and

$20,000 in commissions.

Sales Homework -Walk through the goal-setting math using your numbers.

Sales Managers -Go through this exercise for all your sales reps. It’s best, and more efficient for you, if all the reps who sell the same product use the same formula. Go directly to the next lesson: Sales Goals: Get’em in writing.