Uncertain how to ramp up your business? You only need 6 elements in place to increase the size of your business effectively. They’re simple elements too, ones that would increase the profit margin of any business.
Well, we’ll give you a hint: scale your business with a sales team. If you begin with a sales team first, most of the other elements will fall into place. When you’re ready to discover which 6 elements are essential and why a sales team is crucial, read on.
Have you ever seen a circus performance? If so, then you’ve likely watched those performers pile on top of one another, often in improbable positions, to build an inverted pyramid. At the base of that pyramid is always one lone soul without which the entire pyramid would crumble.
You can think of scaling a business like building one of those pyramids. You can increase or decrease the size on demand so long as the rest of the elements are in place, the most important being a strong base. In business, that base is your core team.
When most entrepreneurs start out, they think of their core team as synonymous with their management team. But to build a scalable business, you need outrageously effective sales that will grow and support your business regardless of its size.
Blueprint a simple, repeatable sales process: You’re creating a template. Include KPIs, clearly defined sales stages, and qualified lead criteria.
Focus on activity-based selling: You must focus on elements that you can track. Numbers are fantastic, but you can’t always determine the effectiveness of your team by looking at the numbers alone. Also log the team’s focus, consistency, management, and morale.
Choose an efficient CRM: The acronym CRM stands for Customer Relationship Management. It’s a type of software that integrates an up-to-date profile of each of your clients. It includes personal information, notes, stages of their sales process, etcetera, and it’s readily available to any member of your sales team.
Test and optimize: To stabilize any fluid system, you must constantly test the system and adjust for variables. When you repeat this process you eventually create a rough template that’s effective in almost any circumstance. When you’ve created one, you’ve learned not only how to scale your business but also how to use a sales team effectively.
Templates, templates, templates, that’s the name of the game. Standardize your process so you can create a template for repeatable success, regardless of the size of your business or who’s at the wheel.
Your processes include things like your lead generation strategy, sales funnel, metrics, and marketing strategy. Remember back to the scientific method in your grade school science classes. You need to focus on measurable, repeatable elements.
Sure, including creative digital marketing ideas in your plan will be useful. But to standardize your process, focus less on ideas, and more on measurable outcomes. Is X result within the range of acceptable outcomes.
For your sales team to succeed, they must first understand both your products and your customers. That’s where your core offering comes in. It’s the single thing for which you want your company to be known.
For Nike, that’s shoes. For Mcdonald’s, it’s burgers. What is it for you?
If you’re scaling your business, your sales team must give your customers a reason to pick you over the dozens of other businesses just like yours. Your team accomplishes this by lauding what makes your company different from your competitors.
The number one reason businesses fail to scale is money. You must have capital in place to quickly grow a business.
Private funding is great. The second best is a Small Business Administration (SBA) Loan, though it doesn’t matter where the money comes from so long as it’s available when you need it.
Now that you know how to scale your business with a sales team, it’s time to do the work. Begin by evaluating what makes you stand out. Then move on to developing the right team, figuring out your core offerings and why you stand out, and finish up by securing funding.
Would you like to learn more about how to develop a thriving business? Then reach out to an expert business mentor today.