Category Archives: Sales Strategy

Why having a goal makes a difference to your bottom line?

The business world is full of jargon, The bottom line, that figure in the far-right hand corner of your financials, is the outcome of all of the work of the business. It is the single most important number to define the health, or otherwise, of the company. As an overall indicator of your performance, it shows that your products and services are valued by your customers, you are controlling costs effectively, and that you understand your market and where you sit within it.  The New Year is traditionally time for planning and I would hope that you have included some goals regarding your bottom line this year.

That said, not all goals are made equal. We have all come across SMART objectives, Specific, Measurable, Achievable, Realistic, and Time-bound goals benefit your business in many ways. A colleague once worked in a business where SMART was jeered when it was mentioned in sales meetings. That company no longer exists which is a good indication that it is a valuable guide to goal setting.

Thinking about the effect of goal setting on your bottom line,

  • Having specific targets for growth allows you to set actions and intentions that can be transmitted to your team. Giving them clear objectives to work towards helps them feel included in the business and motivated to support your plans.
  • Measuring the impact of your work on the key figures tells you that your plan is working effectively.
  • Time-bound goals help you define where you want the business to be at a given point in time.
  • Having these signposts in place also keeps your goals realistic and achievable.
  • SMART can at times appear to be a bit of a cliché, but that is because it is universally embraced, and that is because it works.

Unfortunately, there is no magic wand that you can wave to create new business. It is a process that follows clear rules, which you can use to set SMART goals, making the effect on your bottom line predictable allowing you to plan with greater certainty for the future of your company.

The bottom line of the bottom line is that you are in control of how it looks and investing in the future by developing your sales pipeline through targeted lead generation and nurturing is the best way to ensure the growth of that all-important number.

YBDT’s long experience in all aspects of business development support makes us the ideal partner for your business. We can help you create and implement a clear business development strategy and generate and nurture leads to the point that your sales team can take them on to orders. Get in touch to learn more about how we can help.

Mindset affects everything including business growth

We all know that the human brain can do amazing things some great and some not so great. When looking up the difference between human and animal brains I found the following statement:

‘The main difference between humans’ brains and animals’ brains is that humans’ brain have a remarkable cognitive capacity, which is a crowning achievement of evolution whereas animals’ brains show comparatively less cognitive capacity.’

Mindset certainly falls within our cognitive capacity. The term growth mindset was coined by Carol Dweck of Stanford University. The theory categorizes human learning and intelligence patterns into two categories – fixed mindset and growth mindset.

When individuals believe that they can improve their abilities, intelligence, and talents through their efforts, it is termed as growth mindset. On the other hand, a fixed mindset is when individuals consider that their abilities and talents are constrained to a fixed set.

So how do you know if you have a growth mindset? I am sure that you will be able to find plenty of tests online if you are that way inclined. I think there is a simple way to determine this, when you come across a new challenge, do you:

  1. Get very worried, spend your time thinking up all the reasons why you can’t do it?
  2. Get excited and engage in finding the best way to deal with it yourself?
  3. Start looking for others who might be able to help you?

I would say that if you answered 1 you have a fixed mindset and if you answered 2 or 3 you have a growth mindset. This is a very broad way of looking at things and in many cases, it will depend on the challenge and your natural tendencies as we all have our preferences and interests.

In our work as a lead generation agency, we naturally come across many companies who are looking for growth. But does this mean all of our clients have a growth mindset? Not necessarily.

Despite saying that looking for others to help you when facing a challenge is a sign of a growth mindset, this can sometimes be the tip of the iceberg. Just like in the theory of omission by Ernest Hemingway, the true story is often hidden underneath the surface. Companies approach us for two main reasons:

  1. They want to grow their understanding of business development and work in partnership with an experienced team that can offer them a tailored strategy and delivery.
  2. They want to pass the buck to someone else, who by magic, will solve all their problems or at least can be blamed for not solving them.

I am sure you can work out for yourself who has a growth mindset out of the two but more importantly, who will get more out of working with us?

Most companies face a lot of challenges when working on their sales and lead generation, it is not easy to get consistent success and keep going in a linear line. More typically, you will find that you have ups and downs. Outsourcing your lead generation to a specialist is a good idea if:

  • Your company is in the right place for it
  • You have the resource to develop the leads in-house
  • You are prepared to go on a discovery journey
  • You are looking to work in partnership

If you tick all these boxes or want to check if you do, get in touch to discuss further.

Proper planning = Sales success

Over the last two years most businesses have inevitably simply been reacting to circumstances. What this means is that for 2022 creating a clear sales strategy will be a key component in the drive for the growth that was not realised in 2020 and 21.

Without a strategy, sales managers will make decisions based on what is currently in their minds. This usually results in constant changes of direction and much wasted effort as the latest great idea is chased down. A sales strategy will deliver clear priorities, guidelines, and goals that the whole team can understand and work with.

A great example of how this can work is YBDT’s work with TC Consult, a Cardiff based Quantity Surveyor and Construction Project Manager. At first sight the sale strategy for a business like this may seem straightforward. Construction projects can take anything between 3 months and 3 years before any earth is moved. But with every potential project at different stages along the path, and multiple contacts within the target companies, understanding what they want to achieve from each contact, email, phone, or LinkedIn, means that no opportunity is missed.

With a team of specialists in all aspects of sales, as well as working hand in glove with TC’s existing marketing and leadership team, YBDT are in an ideal position to support the creation and implementation of a detailed sales strategy. As David Champs, director of TC Consult, told us; “using YBDT gives you an opportunity to focus on your sales process, find new sources for lead generation and it helps you focus on your core business.” He said, “I’ve enjoyed working on the content, the sales consultancy has really developed nicely, and the attention to detail in the administration has been excellent”.

YBDT’s meticulous approach to building sales strategies for a wide range of businesses supports and supplements existing sales and marketing resources. From arriving at a clear definition of your target markets, to a comprehensive understanding of products, USPs and trading story, YBDT will guide you towards a sales strategy in line with your vision and goals for the business. 

The next step in planning is creating a workable and effective sales process which includes recognising and acting upon initial interest and then nurturing the prospect to the point that they can make buying decisions. YBDT can examine your existing process and work with you to refine it to provide your sales team with qualified quality appointments with customers ready to buy.

To quote David Champs again, working with YBDT is “a much quicker more efficient process than trying to organically grow a sales team”. Get in touch with your Business Development Team to start planning your route to sales in 2022.

You can access and read the full case study covering our work with TC Consults here.