To be able to successfully execute your MSP sales plan for the year, your sales engine needs to be running at peak performance. If it’s not, it's probably time for a sales engine tune-up — and just like any tune-up, there’s a sales checklist to follow to ensure everything runs smoothly the remainder of the year.
Are you using your resources effectively?
If you’re not generating enough revenue, evaluate how you’re allocating your resources. The first question you must ask yourself is the following: “Which resources am I dedicating to new Monthly Recurring Revenue (MRR)?” If you’re the only salesperson at your business, assess how you’re spending your time. Then, take a moment to think about where you’re focusing your energy. If you’re the only one selling, you’re probably not solely dedicated to generating new MRR. That must change if generating new MRR is on your sales plan. Keep in mind: Your sales engine must be always be aligned with your sales plan.
Define your goals
When it comes to sales goals, it’s always best to stick to the basics. Start with defining your MRR goal, First Time Appointment (FTA) goal and goals for lead generation activities (think about supporting goals for each of those activities). To figure out your MRR goal, simply multiple your FTAs by your close ratio by your average MRR — that’s it. Make the numbers work in your favor by adjusting them — that’s all there is to it.
Hold your salespeople accountable
Your salespeople should know their numbers with prospects — plain and simple. One way to keep your sales team in check is by having them record their monthly activities. Simply, have them keep track of their prospects. Are your salespeople required to fill out perspective business reports (PBRs)? These reports include not only the numbers for 30-day prospects but also 31-60-day prospects. Your sales team should be able to recall the details of every sales lead they’re managing.
Keep your sales team disciplined
You should be holding meetings with your salespeople — even if you’re the only one selling your services. Don’t laugh, but when I was the only salesperson at my company, I held a sales meeting with myself every week — to keep myself accountable — and some of those meetings didn’t go well. Seriously, though, you need to meet with your salespeople once a week to assess what’s going on. Then, use the information you collected during your weekly meeting to adjust your sales forecast.
Follow your sales success principles
Do what you need to do to be successful. Period. Ignore everything else. For example, hit 100% of your activity goals 100% of the time. Own your results. That’s what matters at the end of the day. If you’re supposed to make 200 dials each week, make 200 dials every week. Don’t come up with excuses. Hold yourself and your salespeople accountable to the goals you put forth for your team.
The beginning of the year is a good time to reflect on your sales engine’s performance. If it's not where it needs to be, go through the above checklist to determine how to proceed for the new year.