Sales coaches and trainers usually come from two schools of thought when dealing with training a client.
One school of thought is metrics. Metrics is all the numbers involved. Conventional wisdom being that the more people you call, the more sales you’ll make. And, of course the more appointments you set, the more you go on. And the more you go on, the more contracts you can get signed.
The other school of thought is quality based. That school isn’t necessarily concerned with how many people you speak to, just that you’re consistently speaking to good quality leads.
This particular blog entry isn’t really going to address what school of thought we at You’re The Difference Sales and Life Coaching feel is the correct one, however we do lean towards a hybrid of both. Yes, your chances of setting an appointment and getting a sale go up, however slightly, the more people you speak to. It’s the Law of Averages. However, if your mad, or upset when speaking to them, or even worse you don’t know What To Say and How To Say It, then you could talk to a bunch more people and basically be wasting your time.
More on how to increase the quality of who you talk to in a later blog.
Regardless of what school of thought you subscribe to, sales is about numbers. So, here are some numbers I think you should be thinking about right now.
1. Where is your business coming from? What I’m looking for here are percentages. Look at each deal you’ve done so far this year, and categorize where it came from. Sign/ad calls; expired’s; open houses; lead generation/prospecting; past clients/sphere of influence, etc. Then do a percentage for each category.
If you have one or two major leading categories, start to really focus your efforts there for the rest of the year.
*If you’ve been suffering in this market and are having a really bad year where you have very few deals, do this calculation for the last few years to get an idea of where you want to focus.
2. What is your goal? Do you have a goal for transactions this year? Please tell me you do!! Please! You need to have a goal to shoot for, otherwise you’ll end up not very happy, and not making much money.
3. Assuming you have a goal, what is the exact number of closed and pending deals you have right now, at the half way point of the year? Is that number half of your goal? Whatever that number is, you need to realistically look at your year-end goal and stick with it, lower it, or raise it based on your answers.
*If you don’t have a goal yet for 2008 you need to set one for the 2nd half right now! The easiest way to do that would be to double the number of closed and pending that you have up until this point (example: You have 10 closed and 4 pending, so that’s 14 deals. Double that and you can set a goal of 28 for the year).
***5% of the people in this country have written, defined goals. 5% of the people in the country have 95% of the wealth. Think there’s a correlation?
4. How many active, saleable listings do you have? If you have well priced listings, that’s a good indication of some future business. Be honest about answering, because we all like to keep our listings with us even if they’re not going to reduce ever, and no one’s been to see them in 90 days.
5. And now’s the time to make a 1/2 year business plan. Christy Crouch, my co-founder, loves to re-work her business plan at the half-way point of the year. She gets her whole team involved. You can’t keep selling over 100 homes a year, like she does, without having a plan and adjusting it as needed.
-How many days will you work each month for the rest of the year?
-How many listings will you take?
-How many listings do you expect will sell? (I know, you think you can’t control that, so how can you make a goal? Just do it. We’ll talk about that in future blogs. For now, just do it!)
-How many price reductions will you need?
-How many buyer sales? (Just do it!)
That ought to hold you. If you figure out those numbers and focus on what you need to focus on, you will have an amazing 2nd half of 2008!