Monthly Archives: January 2017
by Trilogy Partners on Jan 31, 2017 8:59 AM
Sometimes we make business far harder than it is. We over-think our strategy, complicate our product line, and worry too much about our staff. These are all important issues to be sure, but they pale in significance to the one area of business that contributes most to success: Time spent daily on SALES.
Sales should be the absolute center of what your company does every single day. Ignore it at your peril. As the founder of IBM, Thomas Watson once remarked, “Nothing happens until somebody sells something.”
I have mentored many business owners and when I see a business not performing, it’s primarily because they are not spending enough hours in the day on the sales process. Specifically, they are not refining how they sell and aren’t getting out there face to face with potential customers. My philosophy is that owners should not be involved in the internal processes of the business except to occasionally check in with trusted employees to verify that the business is on track.
So, how much time should you spend on sales? If you are running a new business, at least 80 % of your day should be devoted to sales. If you are an established business, at least 30% of your day should be devoted to the sales process or connecting with customers.
Does that sound too extreme? It shouldn’t. What else could you be doing that is more important?
Here’s an exercise worth trying: Sit down and work out the average amount of time you and your sales team spend each week, either directly selling or on improving the sales process. Then set a goal to triple it, starting next week.
You may say you’re too busy. You may protest that you have too many other things to do. But if you can bring yourself to drop these excuses and try this technique, you will be stunned at how quickly your business improves.
When you spend most of your time selling, opportunities quickly arise as doors open, checks get written, and good things happen. When you stay in your office talking to your staff, pontificating over product details, admin and minutiae, your business may progress, but you won’t greatly increase your revenue. You are merely tinkering on the peripheries of success.
If you’re not happy with how fast your business is growing, this is the area you should focus on, first, second and third. Get out there and generate more business opportunities. It may seem difficult at first so if you need some support, know that Trilogy Partners has helped business owners create process around selling, deal with the emotional side of letting go and maneuver through change.
by Hal Levenson on Jan 4, 2017 12:43 PM
Our experience has shown that the three most common areas that business owners need to address to fulfill their vision and ensure success for their company are:
- Fundamental Business Disciplines
- Human Behavioral Dynamics
We have found that many business owners do not focus on all three areas which can lead to inefficiencies, culture issues, and stagnation within the business. Understanding and directing efforts in these areas make for a more robust, holistic organization that can better adapt to challenges.
Let’s take a look at each.
Fundamental Business Disciplines reflect the objective side of business such as winning new customers, manufacturing products, creating processes, etc. and can be expressed in the following categories:
- Growth: Strategy, Sales/Marketing and Organizational
- Sustainability: People, Financial and Processes
Human Behavioral Dynamics are the emotional and subjective aspects of business such as interpersonal and group relationships which can be ranked as:
- Foundational: Trust, Conflict, and Communications
- Results: Accountability, Courage, and Passion
Change is inevitable (like it or not) and can be broken down into the following points:
- Willingness to embrace change
- Ability to handle change
- Rate of change
Now that you’re familiar with these areas, we would encourage you to ask yourself the following questions. Give yourself 1 point for each question that you answer “No”:
- Do you have a clear, concise written strategic plan that is realistic and aligned by all members of your team?
- Do you have a current and future Organizational Chart that reflects where you want to be and outlines expectations, gaps and opportunities for advancement?
- Do you understand what is “behind” your numbers and utilize a financial dashboard to help guide your decisions and increase your bottom line?
- Are your processes effective at the lowest level, being updated, and making you more competitive?
- Are you encouraging and having healthy conflict to get the best ideas from different points of view or is there avoidance?
- Are you holding each other and yourself accountable to specific, measureable results on a consistent basis?
- Do you and everyone in your organization have the courage to make tough decisions, willingly make mistakes and happily own them?
- Is your company open and excited about change or does it resist and fear it?
- Do you know how much change your company can handle with your current employees, processes, technology and resources?
How’d you do? Be honest. If you scored 4 or above, do you think you’ll be able to take your company to the next level or be scalable while not addressing these vital points of business?
We believe that business owners who attend to these areas will indeed achieve their vision, become financially independent and have profitable and sustainable companies. We’ve seen firsthand the positive results from our clients who do so. Although it can seem daunting at first, it’s worth taking the journey to success.
If you would like to know how Trilogy Partners can assist you in these areas, please contact me at firstname.lastname@example.org or call us at 609-688-0428.