5?? Easy steps to create a more effective sales process.

When I asked more than 100 female-led businesses about their biggest sales obstacle in late 2023, 28% cited the lack of a sales process. When you start a business, growth is often organic, and taking time to document or create a sales process isn’t on the top ten list of things to do. The trouble is, without some process when it comes time to scale, you can’t repeat how you have developed your business in the past. I’ve been there and know how easy it is to get stuck. Let’s work on creating a framework to build your process.

Five easy steps to create a sales process:

?? 1. Gather the Data. You don’t have to have sophisticated analytics or technical tools to start. (If you do, all the better). Look back at what’s worked or not worked and document successes. This is important for two reasons: One, your most successful activities are what you want to replicate, and two, this will illustrate where to focus your time to yield the greatest ROI and stop the things that don’t work. For me, speaking at an event is the number one activity that creates qualified leads. So, in 2024, I am leaning into that activity.??

?? 2. Define the Stages: Every sales conversation has multiple stages, regardless of industry or client type. Outline the stages for your market and list the activities related to each stage. For example, before you start working with a prospective client, they evaluate their options and do research. You might email them and have ads they see. They might look at your website or download a piece of content you’ve created. Understanding each stage of the sales conversation will ensure that, over time, you meet their needs at every stage and keep them moving closer to a sale. If you identify any gaps, great! Now, you have a roadmap to fill those gaps.?

??? ?? 3. Set Clear Goals and Objectives. Break down your annual revenue goals into sales goals and apply them to a monthly or 90-day period. For example, let’s say you need to close one client a month to meet your sales goals. Now, it's time to work backward. Ask yourself or your team: On average, how many people do you need to have contact with to close one new client? Here’s where that data comes in. It’s okay not to know the exact number. Estimated numbers are fine. Based on your conversion rate (percentage of clients you can close), you can determine how many new prospective clients you need to start with to win one. Now you have the formula to work from.

Case Study: Reverse Engineering Sales Activities ?

Annual Revenue Goal: $120,000 Monthly | Sales Goal$10,000 | Average Sale (Proposal or Package) = $5,000?

Sales Outreach:

30 Touch Points (Calls, Emails, Networking Intros., etc.): 5 1-on-1 Conversations = 1 Sale?

Based on this formula, this company would need to send 60 emails or meet 60 people through networking, resulting in 10 sales conversations to close 2 new clients and win $10,000 of revenue in 1 month.

?? 4. Set your targets. Once you know your formula, you can set activity targets and assign sales tasks for yourself or your team. For example, you can break down your monthly target into weekly goals. This makes it manageable and more likely that you will fit sales activities into each work week. Gone are the days when you sit back and say, “I didn’t do any business development this month.” In addition, tracking these activities becomes a key metric to reach your sales goals.?

?? 5. Stay Disciplined. Let’s face it, this is the hardest part. Staying engaged and consistent with sales outreach and development, in addition to tracking that activity, is what most people hate about sales. I get it! Having a clear weekly target makes it easier, as does blocking out time on your calendar every week. Here’s the trick: don’t move that time or you will keep kicking the can down the road. Consider it sacred. But don’t block 8 hours either. Break it up if you need to: an hour and a half on Monday and an hour and a half on Wednesday. You will not believe the momentum you can build if you do. It’s like any goal, workin’ on your fitness, for example. It’s a marathon, not a sprint.?

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Pricing is the most untapped growth lever for a small to medium-sized business. Most organizations don't know they're leaking profits every hour they bill or invoice they send.??

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Bio: Meet Lisa J. Smith, Founder and CEO of SMITH co. She is the premiere sales consultant and coach for Female & BIPOC Business Owners. She believes that sales are a catalyst that can transform a business from surviving to thriving. She works every day through consulting, training, and coaching to create radical change and boost revenue.

Lisa launched SMITH co. June 2020 as a “COVIDpreneur.” Despite the turbulent economic landscape, she reached six figures in her first year. Having spent 30 years selling professional services in every economic environment imaginable, she has gained a multitude of diverse experiences. Lisa profoundly understands her client’s challenges because she’s been there herself.