The hardest thing to do as a sales leader is also what I believe is the most important, one that every sales leader should be doing, and every CEO needs to have their CRO/VP of Sales do.
While it may be hard in the beginning, once you set up the processes and schedule the time to not be missed by the head of sales and the CEO every month it becomes smooth sailing.
What we're talking about here is a monthly or quarterly business review broken down into three categories.
Category One: Revenue
Look at revenue over time, broken down by rep, then down by source, then down by dollar amount, broken down by product type/category, and then by product. This shows trends within trends of revenue that are contributing to an increase or decrease in revenue. You solve for that. Write down how you're going to resolve those issues and hold yourself accountable for the next month.
Category Two: Pipeline & KPIs
Look at the total amount of pipeline created, the number of deals created by source by rep, if you have multiple reps by dollar amount, and you want to look at win rates there too. This will allow you to start to see what percent of those deals you're actually closing.
If you need help creating these metrics and reports, go ahead and click the subscribe button and then book some time with me here.
Then you will look at the following KPIs to track that your people are hitting the goal win rate, average deal size, the length of the sales cycle, and 100 score. The 100 score is where you take your average deal size and multiply it by your win rate, then you multiply that by 100. It will tell you if I were to give that sales rep 100 leads, the amount of money that would be returned to the business. If it's going up you're getting more efficient. If it's going down, you're getting less efficient. Iterate and train from there.
When you're ready to take the next step for your business, go ahead and click the subscribe button and then book some time with me here.
Category Three: Reps Hitting Quota
The last category you want to look at is the percentage of reps that are hitting at least 80% or quota month over month. Use a nine-box matrix of potential versus performance to see where they are and what you should be doing for them.
Finally, this should end with you asking for specific takeaways for you, as well as for the CEO to give you support.