Hope I don't get sued for using the "Dummies" title. I'll put in a link to one of their books later to cover my tail... I was reading through my copy of the Art of War yesterday (OK, I have to take a book into the dry sauna!) and I rediscovered an interesting phrase, "taking whole".
Taking whole is a core tenant of Sun Tzu's work, which is heralded for its military AND business applications. A relevant example you may have heard: "Know thy self, know thy enemy. A thousand battles, a thousand victories." So how do you leverage this principle to make your numbers? (Consistent) Attainment = Planning + Execution.
Whether you are just starting out or a seasoned veteran, you need a business plan. It's so amazing to me how many salespeople don't prepare a business plan (call it a sales plan or territory plan of you like) unless they are prodded by their manager. Ridiculous!
At the root your plan should look and feel like you are launching your own business...because you are. If you believe that you are building a franchise and put the enthusiasm, energy and brain power behind crafting and executing your plan, your probability of lasting success will increase many times over.
Let's talk about how to develop your plan. Here are the basic elements including a bit of color:
Mission & Objectives
Your mission is a statement that maps to your position (hint: exceeding revenue targets set forth by management is a great start...), while objectives are the support elements, e.g. maintain a pipeline of 5x quota, achieve $150,000 in sales commissions, generate new business, or grow existing account revenue by 40%.
Customers
The most important section. Without customers, nothing else matters! What key attributes define your target customer, including industry, size, and territory? Identify specific industry trends impacting your prospects - what changes are creating opportunities? Who is your buyer and what does their buying process look like? What are the best approaches for penetrating new accounts and/or expanding existing accounts?
Solutions
Define your products and/or services in terms of unique features and value delivered. What are your key differentiators? How does it stack up against alternatives? Who are your top competitors? How does the customer benefit financially, operationally or personally, e.g. Will your solution reduce costs, increase revenue or both? Outline the specific areas of value and document each with customer examples. How will your customer measure success? BTW this is a great reason to call on executives at existing customers - many in our field don't follow up post-sale (hit and run??!) - so you will differentiate yourself and gain up-sell or referral opportunities.
Action Plan
What strategies will you employ to maximize results (revenue)? You know where your targets live so what are the best methods to engage? Consider what resources you will need to execute on all levels of the plan from contracts to product training to services (Hoovers/EDGAR) . Select the top 5-10 top priorities and build from there. Examples include building target customers lists, completing quality calls with top customers, and bi-weekly plan reviews.
There are a ton of resources out there that dive way deeper. And here is that link to the Dummies book! (it's good!:)
Try not to over-think it (the fast eat the slow) and make it yours. If you make it happen and keep it current, you will outperform your peers and competitors quarter after quarter, year after year...guaranteed.
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