SALES PLAYBOOK
The Importance Of A Pipeline
Over the past month , I ran into similar situations with two separate clients . Quite frankly , these situations happen all too often with many companies and individual salespeople . Rather than refer to this as a “ problem ,” I ’ ve chosen to go with “ opportunity .” Both of these clients ’ businesses are growing well above the norm , yet they could be dramatically improved with zero increase in costs with an effective pipeline in place .
Whenever salespeople are wearing multiple hats , there is a danger to sales . That is , whatever that nonsales hat is , when hours are spent wearing it , the sales hat is not being worn , and opportunities are being squandered .
Let ’ s take the example of an industry I spent a couple decades in , the mortgage industry . The typical compensation for salespeople in that business is 100 % commission only . The vast majority of loans close in the last week of the month . As such , many , if not most , of the salespeople will spend the last week of the month babysitting their deals to the finish line so they can get paid for them the next pay period . The operations team isn ’ t typically looking for such babysitting , and often , the salespeople are more hindrance than help . That ’ s bad enough , but the real issue is not being in the field generating new business ! By the end of the month , most of the pipeline has been closed and wiped out , and now the salesperson needs to hustle in the next 2 – 3 weeks and play catch up to rebuild the pipe . Then , the end of month arrives , and the circus arrives in town again with this insanity repeating itself .
If the salesperson were to wear their “ primary ” hat and stay in the field originating new business , both the company and the salesperson would benefit financially in a big way . An added bonus comes into play when the competitors are acting in a like fashion , leaving the doors wide open for access to the prospects during that end of month period of time .
Those regularly being penalized by taking such an approach are lawyers and accountants . Many are tasked with delivering the work for their clients and bringing new business in . Most would prefer doing the delivery and not selling . Often , when ripe with a solid pipeline of business , many will actually “ hide ” behind the “ excuse ” of having to work on the work product , and that ’ s why they are not “ selling .” Then , the work dries up , and the panic selling approach appears again .
The key , then , is consistency . The pipeline of each salesperson needs to be inspected at least once a month and can be even better when inspected weekly . Keeping track of the hours planned and spent in the field procuring business on a salesperson-by-salesperson basis is essential , as well . All of this should be detailed out in the company ’ s sales playbook . Accountability is a must . In my personal life , my business life , and my endurance sports life , I have a total of 14 “ coaches ” keeping me focused and holding me accountable . Who is doing that in your organization ? Both for you and for the sales team ?
Jack Daly is a serial entrepreneur , international sales expert , and author of “ Hyper Sales Growth ” and “ The Sales Playbook for Hyper Sales Growth .” Learn more at JackDalySales . com . n
HAVE A LAUGH
VOLUME 1 ISSUE 4 • MSPSUCCESSMAGAZINE . COM | 15