Written by Sean McPheat |
“But I’m doing everything the same Sean and my figures are awful, I’m in a sales slump – help!”
Sometimes don’t fall into the trap of thinking that you’re in a slump when you’re not.
Sometimes it’s just the simple law of averages catching up with you.
Here’s what I mean.
Your overall closing ratio is 20%. So you win 1 in 5 deals.
Now assume you’re on a hot streak and your closing ratio goes to 80% during the next 30 sales presentations. You’re over the moon!
But then you’re figures take a dive and you get all worried – you couldn’t “close” a barn door!
So what’s up?
Well, to sustain a closing average of 80% over the long run is not realistic. Sure, it might go up from 20 to 30 or even 40% but not to 80% so the law of averages kick in and say:
“Hey, you’re due some no sales” and you go through a “slump”
Note how I say “slump” because you are not in a slump.
So what do you do? Well, you tinker with your technique and approach and that just makes your figures worse when all that was happening was your averages catching up with you.
Simple as that!
So my takeaway lesson is this:
Make sure you analyse your figures closely. Understand the dynamics of your business so when you get the “highs” and the “lows” you understand what it means. Make sure you don’t knee jerk into changing your methods when there is no need.
Originally published: 21 April, 2009