Getting active in your business
Much is written on the subject of how to create and achieve our goals, and I think we all generally know this stuff and have gone through a variety of goal and vision setting processes and probably more than once. I know I have!
I think we also know in our hearts that this is not enough, if we really want our businesses to thrive and grow then we need to DO much more IGA ( Income generating activity) and occasionally we need reminding of this to give us fresh impetus to take action.
Well it does depend on your product/service the market you operate and many other factors such as the length of your sales cycle. However for the purpose of this blog let’s keep it simple and focus on the sales activity which involves you proactively engaging with your prospects and customer/client base SELLING your product or service.
It is a critical activity that all businesses need to be doing to thrive and grow and generally we aren’t doing enough. All other activity for me sits in marketing, it is important as it will help you build your lists, raise the profile of your brand, generate leads and ultimately feeds into your IGA.
The starting point is too crunch some numbers so you know exactly what your daily activity needs to be to achieve your annual gross sales goal. Let’s keep it simple that way it is easy to remember and do.
It does help if you know what your own conversion statistics are, however for the purpose of this exercise we will use business averages.
First divide your gross annual sales ( GAL) goal by the average cost of your product/service (ACP) this will give you the number of sales you need to achieve in that year. (AST) Divide by 12 to get your monthly sales target. If you want an average weekly sales target divide again by 4.
Example: £100,000 (GAL) ÷ £500 (ACP) = 200 (AST) ÷ 12 = 16.66 ÷ 4 = 4.165
Round up or down – so here let’s go for 4 sales per week.
The activity is based on the number of customer conversations you have. These days this can be achieved through a number of mediums; phone, e-mail, face to face, social media, and networking.
Business conversion average tends to be for every 7 conversations 1 will convert into a sale. So for the purposes of this example to achieve 4 sales per week you need to achieve 28 conversations a week which is between 5 & 6 a day. Simple! 🙂
So if you want your business to thrive and grow take action today, work out what your IGA numbers are and make that activity your priority every day. Remember the more you do the better you get.
Jacky is a Director of The New Approach Partnership, they provide comprehensive Business Development, Sales, Contract Management, Account Development, Customer Care service solution. Their approach is focused, collaborative and very integrated. They work with SME’s operating in large and diverse market places from the Building Services and Construction industry to Professional Training and Coaching.
Watch out for their new and exciting Business Growth Landscaper online product range it’s in development at the moment but will revolutionise the industry. It will provide an affordable, easy to follow business development toolkit for the sole trader or small business. Whether you are the creative cake maker, brilliant coach, reliable plumber, awesome web designer or talented accountant! Anybody who is an expert in their own field but are a bit stumped at how to attract, engage, and keep customers, these tools are designed to help you grow your business.
If you want to find out how Jacky and her team at The New Approach Partnership can help you create the right strategy for you and your business that will enable you to achieve your revenue goals, as well as work out ‘What is the right market for you? Where will you find clients for your product or service? how will you attract them, engage with them win and keep them as clients?’ contact Jacky on Jacky.Ling@napltd.co.uk and quote Gentlemusic1Share