2016 is here! Business coach Stephanie Chung offers five expert tips on paving your way to a wealthier wiser you for the new year.
For most sales professionals the year starts off the same: you receive your company quota and are asked to formulate a sales plan outlining how you’re going to accomplish the goal. For 2016, however, I encourage you to spice it up a bit to make the most out of this occasion.
Instead of having your plan focus on how you will generate revenue for the company, create a plan that also shows how you will generate more money for yourself. I call this the “Mo’ Money Plan”.
Let’s face it, one of the main perks of being a sales professional is the fact that you can make a ton of money. The truth is, the sales role includes high risk and high reward. If you don’t hit your numbers you have a higher chance of being fired – high risk. Yet, if you hit your numbers you probably make more money than most folks in your company – high reward.
Kick the new year off right and create a “Mo’ Money Plan” to help you and your company achieve your sales goal. The following five tips can help you get started on creating this solid game plan for optimum results.
1. Think on Paper – Write down how much you want to make this year. Be sure to think big and be specific. A helpful tip is including a picture in your plan of one item you would like to purchase with your additional money. After setting your goal, I encourage you to go and physically shop for the item on your plan. This makes your goal feel more real.
2. Know Your Statistics – What exactly do you need to do or stop doing in order to gain the maximum result? How many more prospects, sales calls, presentations, proposals and meetings need to be had in order to achieve your money goal? Be honest.
I recommend you do more things that will produce income and less things that won’t – such as chatting with your colleagues.
If the conversation is not centered on how to close a deal, then it’s a conversation that may not need to be had or at least not during business hours.
3. Daily Discipline – Now that you know exactly what you need to do in order to achieve your financial goal, chop your work day up and commit 95% of your time to doing things that will bring you and your company the biggest return. The other 5% is for administrative tasks that don’t produce income but need to be done such as updating your Customer Relationship Management (CRM) system, submitting expense reports, etc.
4. Shout it from the Rooftop – Some people prefer to keep their financial plan private but I encourage you to let your supporters know about your goal. You will be surprised by doing so. Not only will your supporters offer encouragement, they can also serve as great accountability partners.
5. Display Your Plan– My final tip is, put your “Mo’ Money Plan” somewhere visible where you can see it all day, every day and each month to track and make sure you’re running on target. If your plan is moving accordingly, have a mini-celebration. If not, make the necessary adjustments and get back on the saddle. It’s not over until it’s over!
A new year can mean a new beginning, a chance to improve ourselves to meet our personal and professional goals.
Unfortunately, many times people don’t have the motivation or support to follow through with such plans. With these five tips in mind, you will not only develop a solid plan that can meet your company quota, but also fulfill your personal financial goal.
Stephanie Chung, a business coach, executive coach, trainer and advisor, offers sales coaching, sales training, and executive mentorship services nationwide that help you work smarter, not harder. She has mentored, coached and developed some of the highest paid, most elite, sales professionals in the US, and is backed by more than 25 years of team management, business development, and sales leadership experience.
For further information: www.coachstephaniechung.com