Sometimes it’s the simplest ideas that are the most useful. I recently attended a networking meeting and the group leader shared a formula which has helped me think more productively about my business. In this post I’m going to share this formula for sales success with you.
To be honest, when (Q1xD)xQ2=R appeared on the screen, my first thought was “Oh no, I hate maths!”
But when he explained what this sales success formula was really all about my curiosity was aroused.
R stands for results. By definition these are the direct outcome of our activities. In order to get better results we need to change what comes before.
Q1 stands for the quantity of activity we do. Planning without activity gets us nowhere. Sitting at home waiting for the phone to ring isn’t a sustainable recipe for sales success. It’s a truism in sales that there is a direct link between the number of calls you make and your results. But we also know that there is more to it than just being busy.
D stands for the direction of that activity. Again it’s obvious that, if we spend most of our time talking to the wrong people, we won’t get the results we want. In sales this means getting in front of more decision makers rather than just talking to anybody who will listen to us.
Q2 stands for the quality of that activity. The last, very piece of the equation. It’s about what we say and how we say it when we are in front of those all important decision makers. It’s the thing that determines how successful we are at converting leads into customers.
Success is the product of proactive, well-directed, quality activity.
Putting this formula for sales success to work?
None of us is perfect. Sometimes I know that I can get stuck in “paralysis my analysis” and that I need to start doing something. Occasionally I admit that I can be a busy fool, putting time and effort into an activity that is badly directed. This little formula now helps me step back and check what I am doing by asking a few simple questions:
- Am I taking enough action? Am I being proactive?
- Am I doing the right things? Am I targeting my activity towards the right people ?
- Is the quality of my activity good enough? What can I do to improve my sales conversion ratio?
I know it’s not rocket science but, if you apply it, this little formula for sales success could make all the difference to you in the coming months. What have you got to lose?