In yesterday’s post we discussed the fact that you need to answer the question, “Why are you doing that?” before you can successfully set any sales target.
I’ll give you one more analogy to drive this point home. You already understand that your product or service does not motivate a prospect to buy and become your customer, right? Your prospect is motivated to “buy” because of whatever your product or service does that makes their life better. Without that motivation, your product means everything to you and nothing to them.
“You will be motivated to hit your sales targets because of how the income you generate by doing so provides the life you want.”
It is that same principle that will motivate you into accomplishing your career goals. Sales targets will not motivate you. Sales targets mean nothing to you and everything to your sales leadership team. You will be motivated to hit your sales targets because of how the income you generate by doing so provides the life you want.
Find something tangible that can represent your “why” that you can keep with you as an emotional touchstone. Keep it in plain sight as much as possible. Maybe it is a picture of your family. Maybe it is a picture of a house on the lake – or a nice car.
Once you have done that – we can move into converting your “why” into an actual sales target.
Sales Target Generation Steps:
- What income do you need to make? This number should pay your daily living expenses plus any amount above that which you need in order to become debt-free and to fund your reasons why”. Sit down with your spouse, or significant other, unless you live alone. Think in terms of more than just the next 12 months. Think in terms of the next 3 – 5 years. Think BIG. Small goals motivate nobody.
- Based on your industry, what is the average sale and average commission you should expect to generate per sale?
- Divide your income goal by the average commission you should expect to generate per sale.
- Multiply that answer by the average sale you should expect to make. That will give you your sales target that you need to hit in order to fund your “why”.
- Income goal = $100,000
- Average sale = $5,000
- Average commission = $2,000
- Sales needed to generate $100,000 = 50
- Sales target needed to fund your “why” = $250,000
In this example – your sales target goal should be $250,000. Hopefully, you are thinking big enough that your goals exceed the organizational goals of your leadership team. If not – think bigger. 🙂
What is your sales target for the next 12 months?