8-STEP SALES EXECUTION FRAMEWORK

Transcription

1 8-STEP SALES EXECUTION FRAMEWORK Translating Strategic Intent into Operational Reality Created by Andrew Honey Group CEO: ThinkSales Corporation Entrepreneur Media SA SmartCompany Networks

2 BACKGROUND RATE OF CHANGE ENTREPRENEUR MEDIA SA Over the past nine years Andrew Honey has engaged with a number of South Africa s top high-growth entrepreneurs and leading business growth experts. During this period Entrepreneur Magazine bucked all print predictions and delivered significant growth in contrast with South Africa s leading business publications that declined dramatically. THINKSALES CORPORATION In 2010 Honey launched ThinkSales Corporation. Through exclusive partnerships with two globally renowned sales companies, as well as working with a number of CEOs and Sales Directors from some of South Africa s leading organisations with turnovers ranging from R100 million to over R3 billion, he observed how the very best grow revenues above the market average. During this 5-year period ThinkSales grew top-line revenue by 464%, an average annual increase of 93%. The key to the success of Entrepreneur Magazine, ThinkSales Corporation and other high-growth companies is strategy, differentiation and value clarity. Most importantly, it is driven by execution and urgency. THE EVIDENCE IS OVERWHELMING The fundamental force impacting businesses today is the rate of change which, ignited by the internet and rapid technological developments since the mid-90s, is accelerating exponentially, driven by five converging market forces: globalisation, complexity, disintermediation, commoditisation and disruption and further impacted by exceptionally high levels of growing urbanisation. For buyers these market forces are creating conditions of uncertainty, making it increasingly difficult for them to differentiate between product and solution offerings. This is why they often resort to price as the simplest determining factor for making purchase decisions, or not making a purchase decision at all. The impact on the C-Suite and sales organisations is a tremendous need to work more, harder and faster. For many companies across multiple industries results have not tracked the change and effort curves and have diverged, creating an ever increasing gap between effort and revenue. As an outcome of these learnings Honey has developed an 8-Step Sales Execution Framework for both internal use and for sharing with customers of ThinkSales. This framework is the sercet to exceptional sales organisation growth and sustainability. THE BUSINESS ENVIRONMENT Rate of Change Effort Sales Results 1950s 1960s 1970s 1980s 1990s Today ThinkSales Corporation Annual Revenue Growth THE BUSINESS ENVIRONMENT 5-Yr Average Annual Growth: 82% Converging market forces Gap Globalisation Disintermediation Complexity Commoditisation Disruption 2 3

3 FLIPPING THE CURVE 8-STEP SALES EXECUTION FRAMEWORK THINKSALES CORPORATION To flip the curve of diverging results vs effort, the C-Suite and sales leaders need to adapt the sales organisation to align with the rapid rate of change and increased effort that is required to succeed in today s business environment. This requires multiple strategic and operational initiatives. The 8-Step Sales Execution Framework is preceded by defining the sales organisation s strategic objectives. It is about choices made by answering to the three questions below. 1. What are our Winning Aspirations or BHAGS (Big, Hairy, Audacious Goals) 2. Where will we Play? (Chosen market space) 3. Why should we win? a. What are our differentiators? b. What is our value proposition? c. Have we clearly defined our value? 8 SUSTAIN: GROWTH 1 DESIGN: EXECUTIVE INFLUENCE Plus, always consider the Pareto Principle. 80% of the output is achieved with 20% of the input. 7 DRIVE: ACCOUNTABILITY SALES PROCESS INITIATIVE 2 CREATE: SENSE OF URGENCY 6 FORM: BUDDY SYSTEM 3 ENLIST: TEAM BUY-IN 5 ENABLE: EXECUTION 4 EQUIP: MANAGEMENT 4 5

4 EXECUTION LOOP: STEP 1 EXECUTION LOOP: STEP 2 DESIGN: EXECUTIVE INFLUENCE 1. Executive influence raises the likelihood of success 2. Executives are ultimately accountable for revenue growth and profitability (Get their ear!) 3. New strategies are accelerated by executive drive CREATE: SENSE OF URGENCY 1. Focus on timelines to achieve the winning aspirations (BHAGS) 2. Develop metrics that speak to the winning aspirations 3. Ensure a focused start with urgency driven daily 1. Include the C-Suite in the design of new sales organisation initiative/s 2. Set KPIs (Key Performance Indicators) that talk to CSFs (critical success factors) of the C-Suite 3. Enlist C-Suite attendance at the initiative launch and at monthly review sessions 1. Clearly align activities with the sales organisation s winning aspirations 2. Identify activities for each winning aspiration 3. Identify timelines for each winning aspiration: daily, weekly, monthly, quarterly, annually 6 7

5 EXECUTION LOOP: STEP 3 EXECUTION LOOP: STEP 4 ENLIST: TEAM BUY-IN 1. Change drives concern, anxiety and resistance. Change is painful 2. Star performers are significant influencers to new inititiaves 3. Sales force buy-in is critical to successful change management 1. Address questions, queries and concerns early and often 2. Enlist 1-3 key performers to back and champion the initiative 3. Hold weekly feedback sessions where wins are discussed and celebrated EQUIP: MANAGEMENT 1. FLMs (frontline managers) are owners of a new sales initiative 2. FLMs drive implementation and urgency of new initiatives 3. FLMs are in a unique position to train, evaluate and coach 1. FLMs must be equipped with intellectual, executional and emotional understanding 2. Design implementation tools for FLMs and sales reps 3. Set and drive in-field evaluation and coaching to improve implementation of a new process 8 9

6 EXECUTION LOOP: STEP 5 ENABLE: EXECUTION 1. A new sales process drives concern and anxiety 2. Results are 20% inspiration and 80% execution 3. Defined execution and focused urgency are results accellerators 1. Develop an execution plan concurrently with the strategic plan 2. Table activities and metrics (three Ws what, who, when) that align with and drive the winning aspirations 3. Pre-determine evaluation and review sessions to measure all metrics and to drive improvement, execution and urgency EXECUTION LOOP: STEP 6 FORM: BUDDY SYSTEM 1. People learn by observation 2. Working together reduces anxiety 3. Confidence is created by observing in-field successes 1. Tier sales reps into star, core and poor performers 2. Partner up by setting buddy systems 3. Hold weekly feedback sessions where wins are discussed and celebrated 10 Copyright 2015 ThinkSales Corporation (Pty) Ltd. All rights reserved. 11

7 EXECUTION LOOP: STEP 7 DRIVE: ACCOUNTABILITY 1. Definitive measures and milestones must be set at the start 2. Create an Excuses Begone culture 3. Always remember; what is inspected is respected EXECUTION LOOP: STEP 8 SUSTAIN: GROWTH 1. Winning Aspirations must be audacious 2. Change is fast-paced and exponential 3. Be prepared. Consider who could disrupt your business sector 1. Set deadline driven outcomes aligned to winning aspirations and BHAGS 2. Evaluate usage of key implementation tools 3. Measure outcomes weekly, monthly, quarterly and annually 1. Review and refine the winning aspirations (BHAGS) at least quarterly 2. Drive implementation of the 8-Step Execution Framework 3. Ensure high levels of focused urgency 12 13

8 Winning with ThinkSales Sales organisations need to be equipped to deal with the exponential rate of change and the five forces driving an increasing gap between effort and sales results. Old sales methodologies are not engineered to work in this business environment. There is a critical need to align sales methodologies and processes with the current business environment and buying behaviour. If you believe you can win more, or would like to explore how you can win more, speak to Kim Yiallouris about ThinkSales Corporation s proprietary 4-Pillars Analytical Framework and unique products and programmes that have assisted Entrepreneur Media SA, ThinkSales Corporation and a number of it s clients flip the curve and experience great sales results. OUTCOMES OF THINKSALES PRODUCTS AND PROGRAMMES Dramatically increased deal sizes Improved win/loss ratios More accurate pipelines and forecasts Sales people transitioned from reps to strategic partners and trusted advisors CONTACT US Call: +27(0) kimy@thinksales.co.za Visit: