Turnaround Management
When you are achieving double-digit growth and getting record profits, you have the luxury of being able to methodically plan your future strategy. You don’t have that luxury if sales are declining and the profits are eroding. If you are the new Head of Sales assigned to turn around the ship, you need a rapid turn-around plan. Here it is! I will help make your plan a success. (I have a habit of resuscitating troubled sales organizations.)
A Lasting Strategy is the One You Write Last
This may look counter-intuitive…It’s probably not what textbooks tell you. But yes, strategy is the last step. Any turnaround requires a lot of tactical activity up front. You have to be comfortable with constant change as you learn more about how to best serve your target clients.
Align structure with the needs of target clients.
Questions to ask:
- Do we have a discernable value proposition? Can the sales force articulate our value?
- How are we positioned against our competition?
- What are we hearing from our current clients and prospects?
- What is the most cost-effective mix of sales channels and sales teams to optimize market coverage?
- What accounts, products, services and activities should be assigned to each team?
- What is the optimal number of sellers for each sales team? How should effort be allocated?
- What is the optimal reporting structure for the sales organization?
- What roles and responsibilities should be established within the sales force?
Hire, develop and retain world-class talent.
Questions to ask:
- What skills, behaviors, knowledge and traits should be defined as expectations within the sales force competency model?
- How should the competency model reflect differences in expectations for new hires and experienced sellers?
- How can the many competing objectives for the incentive compensation plan be balanced so that the plan drives company strategy, yet is also simple, motivational, fair and financially responsible?
- What training courses are required for sellers and managers? How should the course content and structure be designed?
Build processes that drive a client-centric sales approach.
Questions to ask:
- How do we celebrate the wins and reinforce your current momentum?
- How do we leverage best practices of newly anointed top performers?
- What is the best method to develop and implement a standardized sales cycle?
- What coaching frameworks, processes and tools do managers need in order to effectively impact the performance of each seller?
- What key performance indicators should be communicated to the sales organization to motivate desired levels of productivity?
- How can I leverage current CRM/SFA systems? What are the minimum entry requirements?
- How should support resources be sized and allocated?
- What is the role of Executive Sponsorship in the sales process?
Now that we are winning, start thinking longer term.
Questions to ask:
- Who are the stakeholders we want involved in long-term planning?
- How will we further integrate the Sales and Marketing efforts?
- What training and development is needed to take our team to the next level?
- What are the products and services that must be developed to maintain our differentiation?
- Do we want to pursue other markets and if so what additional channels could be used?
- What investments are required to maintain or accelerate the growth?
- What is the next phase in the evolution of our CRM/SFA?
- Is our incentive plan aligned with the future to motivate sellers?
- What levers can we pull to further increase profitability?