Wherever you are, remember, your best thinking got you here!
Success in business can be boiled down, in a large part, to understanding models that work.
The fundamental business model is very simple: create a product or service, define a customer, establish a price, close the sale, deliver the order and collect the money and realise a profit.
Sometimes it is that easy but usually the reality of business is never that simple.
I have written hundreds of business plans. My perspective is that the most challenging aspect of any business plan is not the financials, production or where to source the various inputs – these are the science of business. The most challenging and the most critical aspect of any business is determining the sales strategy – this is the art of business.
The sales strategy is the meat of the business; it is where the rubber hits the road. Get this right and you’ve got a business, get it wrong and you will struggle until you do get it right.
The most challenging aspect of any business is to define the art of the sale – the sales strategy. We have the product but who will buy it, how much will they pay and how must we frame the message in order to compel them to act – this is the sales strategy!
Do you really have a sales strategy? What is your sales strategy? Answer these following questions accurately and you will have your strategy.
1) What business are you really in?
2) Where is the profit made?
3) What value do you deliver and to whom?
4) Define exactly who your prospects are (hint: phone book is not an answer)
5) Define exactly how you will reach out to your prospects.
6) Exactly what benefits do your prospects really want?
7) What will your prospects pay for your service or product?
8) Is there sufficient profit to support the business?
9) What is the compelling message your prospects want and need to hear to hear to decide to buy?
10) Does your compelling message consistently represent your brand across every client touch points?
11) What level of service is required?
12) What payment terms will your prospects demand and can your cash flow support this?
Without a clear and definitive sales strategy your sales results will be a fraction of what they could or should be. Without a clear sales strategy your company culture will lack clarity and direction – your team won’t know where their business is going!
Does your current business model have a clear sales strategy?
Define your sales strategy and get focus and direction in your business!
If you’re struggling to define your strategy, remember that your current thinking got you here – you’re the problem but you’re not necessarily the answer – to find the answer you need to think differently, find a new perspective and look outside of your current experience. Solve the questions above and define your sales strategy and your business will thrive!