Science of sales for smaller companies

“Dream Big. Start small. Act now.” — Robin S. Sharma

I have shared my thoughts about the Science of Sales, the reason why it’s beneficial for companies to understand what’s happening in their sales process, how to Discover their hidden opportunities, get Insights and gain value from data, build an effective and automated reporting and analytics System and establish a data driven Culture.

In order to leverage data one needs to have quite a lot of data to get value out of it, right? What is the right time to embark on the sales DISCovery journey?

Let’s explore this today.

It is true — if there is not much data, there is not that many surprising findings to find in it and that in a nutshell is the point of data analysis. If you can almost count it using your fingers you don’t really need a data analyst.

However it is never too early to start following the principles of transparent sales as there is a great secondary benefit to having your data in order. Data can help you feel in control — reliable data is the difference between hoping and knowing.

One of the key problems with sales in younger companies is that the sales people (often this is the owner of the business) try to keep all their opportunities in their head. This can easily lead to opportunities falling through the cracks, inefficient spent of the marketing budget and a feeling of overwhelm.

Here are the top actions for taking a in control over your sales and subsequently over your business. Regardless of the stage and size of your company — even if you are just a one man band, these principles will help you get to the next level.

1. Define a sales process, what are the individual steps, how many times you contact a lead, how do you nurture them, what are your qualification criteria and how do you close the deal
2. Set up a system to capture the key information about your leads and opportunities — it can be a CRM or to start with even a simple Excel spreadsheet might do in the early days with one or two sales reps.
3. Set up the system or a fault proof process that reminds you to follow up with your leads and opportunities according to the process.
4. Understand exactly what is happening inside the process. Get at least basic reports — What stages are your opportunities at? Do you do enough sales activities? When is the last time you have contacted a given lead? What are the the reason you lose leads and opportunities? What are your most successful lead sources?
5. Establish a basic sales forecast so you can put your mind at ease knowing you will have enough money in the bank by the end of the month and also so you spot early if your pipeline needs topping up. This is particularly important when the person who sells is also involved in delivery as well.

This will free up your mind and enable you to focus on doing rather than just thinking and potentially worrying.

Keep it simple and as Nike says: Just do it! ✓