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No One Succeeds Without Goals

Posted on: July 31

Author: Admin
No One Succeeds Without Goals

July 31, 2009This month we discuss goals. Yogi Berra said, ‘You gotta have goals or you might end up somewhere else.’ Hope you enjoy.No One Succeeds Without GoalsI have covered the first two foundations for a great presentation’ a great attitude and a planned, practiced, and inspired presentation to give to prospects. The third foundation of a great presentation is goal setting and tracking. I briefly discussed goal setting as it relates to the number of people you see. Now I want to give it a full discussion to show its importance throughout the entire sales process -- from planning to execution and follow-up.You need goals in at least two areas’ activity and results. You should have both a high and a low goal. Your goals must be written down, have a specific timeframe, and then be communicated to someone who is important to you. Let’s go through this step-by-step.Activity GoalsFirst, you need activity goals. Let’s say you want to track your activity in the area of approaches. A lot of salespeople use the phone for the first approach, but if you cold-call or use email, it doesn’t matter. You should still set a goal for this activity. Most salespeople should set activity goals in three areas of the approach: • Basic approaches by phone • Email approaches • In-person approaches The second activity salespeople engage in is initial presentations or visits. Setting an activity goal here is both appropriate and crucial. Finally, most salespeople engage in follow-up visits or additional calls after the first meeting. It’s important to set goals here as well.Results GoalsThe second type of goals is results goals. Walt and Steve were two great salespeople in one of my sales organizations, and here is how they set their goals while selling products to banks. Walt and Steve both wanted to make $100,000 a year in commissions. This was their ultimate goal. For goal setting purposes, they both set their low goal at $100,000 and their high goal at $125,000.Walt knew that every time he sold to a bank, he earned an average of $4,000. Some sales had higher commissions than others, but his two-year average was $4,000 in commission for each sale he made.One day Walt had lost some weight, and I asked him, ‘Are you on a diet?’No,’ said Walt, ‘I’m on commission.’Walt’s annual low goal for sales was 25 sold. Twenty-five sales a year equaled $100,000 in commissions and 31 sales equaled his high goal of $125,000.Keep Em Bite-Sized, Not Super-SizedWalt and Steve were good at breaking down the goal into smaller bites. After all, how do you eat an elephant? One bite at a time. Success by the inch is a cinch; by the yard it’s hard. A journey of a thousand miles begins with a single step. You get the idea.Walt set a monthly results goal of two banks per month for the first 11 months of the year, and then three banks in December. This equaled his low goal of 25 sales. His high goal was broken down as six months of two sales per month and the remaining six months of the year at three sales per month. Walt went a step further; he decided that every month by the 15th, he would have sold one bank. Here is a diagram of Walt’s goals:Walt’s Results GoalsLow Goal: $100,000 in commission2 sales per month x 11 months = 22 banks 3 sales in December = 3 banks = 25 banks sold @ $4000 per sale = $100,000High Goal: $120,000 in commission2 sales per month x 6 months = 12 banks 3 sales per month x 6 months = 18 banks = 30 banks sold @ $4000 per sale = $120,000Walt took one more step. He wrote all these goals down and gave a copy to his manager, his wife, and the CEO of the company. Why? He wanted to put pressure on himself to perform. And, boy, did he ever.Steve’s plan looked the same, but his average sale resulted in a higher commission. He had made $5,000 per sale in commissions the last two years, so he adjusted his goals appropriately. His sales looked more like twenty banks annually for his low goal and twenty-five banks annually for his high goal. He also included his mother on his distribution list of the written goals for a little added pressure.Some people don’t set results goals monetarily, and that’s fine. Some salespeople set a goal to go on a winners’ trip, to be among the top 10 salespeople, or to be number one in the company. These are all still results goals and require the same formula.The more specific you make your goals the better they are. Dave Waddle was an American athlete competing in the 800 meter run in the Olympics. You may remember him, because he ran with a baseball cap on. He set a stated goal to run the 800-meter race in a then world record time of 1:51 (one minute and fifty-one seconds). He did it exactly, but he only won the silver medal. A Swedish runner had set his goal to win the gold medal, and he did. Set specific goals to get exactly what you want.To Your Success, Tom

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