One of our great challenges is working out how to boost sales. What we are talking about here is change. We want a different outcome to the one we are getting today. More sales. So, something needs to change. What if it was as simple as choosing a new attitude?
We humans are a curious lot. You see, after years of hard knocks, we learn to expect a certain outcome. We walk into a sales meeting expecting to ‘lose’ – be it price, volume, terms or some other aspect of the deal. And so, that’s exactly what happens. It becomes a self-fulfilling prophecy.
But cast your mind back to the very beginning. It wasn’t always like that, was it? So, what’s changed? Chances are, it’s one or more of these things:
• Enthusiasm: New businesses approach the market with extraordinary enthusiasm and it’s hard for customers not to get caught up in the vibe. If you don’t believe that, take a moment to contemplate the opposite effect – would you keep buying your coffee at a place where the staff seem depressed?
• Belief: New businesses have a great deal of belief in their product, its features and benefits. Wrap that in the aforementioned enthusiasm and voila!
• Focus: We’ve all gotta eat! So, new businesses have a laser like focus on sales. At first, to slow the rate of cash-burn, then to break-even and finally to make a profit. Whatever, it’s foremost in your mind and it’s the thing that gets your time and energy.
• Involvement: Your involvement in the sales function told everyone how important it was. Your team, your customers. And it also gave you insights into what was important to them. But as the business grows, we have to choose where we spend time. We entrust sales to others and then we become one or two steps removed.
• Pro-activity: New businesses are pro-actively approaching new markets and new customers, developing new products. They are trying to write history, not become it!
• Homogenisation: Over time, we tend to ‘move to the middle’. We benchmark against competitors, we adopt each other’s tactics, we agree to provide the same terms. Our product, service and terms are just like everyone else, making it hard for customers to decide on any factor other than price.
• Lack of innovation: Our product may have once been at the cutting edge. But the world moves on, and we have to keep moving ahead of the curve. Few products ever make it into the ‘cash cow’ quadrant of the Boston Consulting Group matrix. The product you never developed certainly won’t.
• The team: The team becomes stale. It adopts an ‘order-taker’ mentality. It accepts the rusted-on wisdom of years lunch-room anecdotes.
So, if you want more sales, plan to change. Are you prepared to do what it takes?
Northern Strength Can Help
Northern Strength exists to support manufacturers’ fighting edge. Through our founding partnerships, and by pooling expertise across finance, advisory, manufacturing, defence, and risk management we’re here to help members to grow their business.
If you’d like support with planning for sales growth, reach out. One conversation could be the start of your next great surge in sales.