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  • Will You Add? - Does Your Sales Training Program Address Your Sales Performance Issues? Part 1

    12 Things You Might Not Know About Background Checks
    If you’re applying for a job today, the chances are excellent that you will have to pass a background check to get hired. In fact, over 90% of companies now run background checks on all applicants. Before you sit down to fill out that very important job application, here are 12 facts you might not know about background checks:* According to Workforce Management, over 45 million background checks were run during the past year.* Most companies use a candidate’s job application, not resume, when running a background check.* 86% of businesses say that inaccuracies on a job application can take a job candidate out of consideration.* Half of all job applications contain discrepancies.* Well-known people who were caught lying on their resumes and job applications: Dave Edmon
    er term agreement of 36 months
    • Average 'Sub-Quota' revenue per month during ramp of $1300 (This number reflects the average monthly revenue a new-hire achieves before they achieve quota attainment)

    Step 2: ‘Run the Numbers’ hypothetically for a ‘Specific’ improvement

    In this case, I showed the sales management team what return on investment they would get by helping just 1 sales rep achieve full sales quota in 6 months versus 7 months. Based on their numbers my dia

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    Sales training programs encompass a variety of necessary components; things like company policies, sales paperwork, CRM/sales force automation orientation, sales processes, company services, sales skill training and product features and benefits.

    But when I ask Sales executives and Sales trainers how their current sales training program is aligned with their sales performance issues I get the look of “No speak English’.

    Let’s first categorize ‘Sales performance issues’. There are (4) distinct sales performance silos that will effect the overall outcome of any sales team, year in and year out. They are:

    • % of Sales reps to Quota
    • Average New-hire Ramp-to-Quota in months
    • Sales Employee Turnover rate
    • Time spent versus Result achieved

    This is a good place to start in determining what sales skill training to implement to achieve a measurable return on investment. But here’s what will set you apart when you walk the request up to the front office. Start out with the NUMBERS. That’s right. Take a diagnostic view of your current sales performance silos, one by one.

    Let’s look at a real sales performance issue example of ‘Average New-hire Ramp-to-Quota’. I recently conducted a ‘Sales Performance Improvement Blueprint’ web-cast for this sales organization. The company was hiring 155 sales reps per year. The ultimate objective of any new-hire sales training program is to ramp the new sales rep to Quota. Simply, give them everything they need to effectively reach their monthly sales goal.

    So how was this company doing? They were obtaining this ultimate sales training program objective in 7 months. So how does one determine if that training outcome is a ‘Sales Performance Issue’? Let’s take a look.

    Step 1: ‘Run the Numbers’ for any realistic ROI opportunity

    • Each new-hire rep had an ultimate quota of $3500
    • Sales Cycle was 17 days
    • Average customer term agreement of 36 months
    • Average 'Sub-Quota' revenue per month during ramp of $1300 (This number reflects the average monthly revenue a new-hire achieves before they achieve quota attainment)

    Step 2: ‘Run the Numbers’ hypothetically for a ‘Specific’ improvement

    In this case, I showed the sales management team what return on investment they would get by helping just 1 sales rep achieve full sales quota in 6 months versus 7 months. Based on their numbers my diag

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    ere are (4) distinct sales performance silos that will effect the overall outcome of any sales team, year in and year out. They are:

    • % of Sales reps to Quota
    • Average New-hire Ramp-to-Quota in months
    • Sales Employee Turnover rate
    • Time spent versus Result achieved

    This is a good place to start in determining what sales skill training to implement to achieve a measurable return on investment. But here’s what will set you apart when you walk the request up to the front office. Start out with the NUMBERS. That’s right. Take a diagnostic view of your current sales performance silos, one by one.

    Let’s look at a real sales performance issue example of ‘Average New-hire Ramp-to-Quota’. I recently conducted a ‘Sales Performance Improvement Blueprint’ web-cast for this sales organization. The company was hiring 155 sales reps per year. The ultimate objective of any new-hire sales training program is to ramp the new sales rep to Quota. Simply, give them everything they need to effectively reach their monthly sales goal.

    So how was this company doing? They were obtaining this ultimate sales training program objective in 7 months. So how does one determine if that training outcome is a ‘Sales Performance Issue’? Let’s take a look.

    Step 1: ‘Run the Numbers’ for any realistic ROI opportunity

    • Each new-hire rep had an ultimate quota of $3500
    • Sales Cycle was 17 days
    • Average customer term agreement of 36 months
    • Average 'Sub-Quota' revenue per month during ramp of $1300 (This number reflects the average monthly revenue a new-hire achieves before they achieve quota attainment)

    Step 2: ‘Run the Numbers’ hypothetically for a ‘Specific’ improvement

    In this case, I showed the sales management team what return on investment they would get by helping just 1 sales rep achieve full sales quota in 6 months versus 7 months. Based on their numbers my dia

    Business Opportunity - Leverage Your Employees!
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    p to the front office. Start out with the NUMBERS. That’s right. Take a diagnostic view of your current sales performance silos, one by one.

    Let’s look at a real sales performance issue example of ‘Average New-hire Ramp-to-Quota’. I recently conducted a ‘Sales Performance Improvement Blueprint’ web-cast for this sales organization. The company was hiring 155 sales reps per year. The ultimate objective of any new-hire sales training program is to ramp the new sales rep to Quota. Simply, give them everything they need to effectively reach their monthly sales goal.

    So how was this company doing? They were obtaining this ultimate sales training program objective in 7 months. So how does one determine if that training outcome is a ‘Sales Performance Issue’? Let’s take a look.

    Step 1: ‘Run the Numbers’ for any realistic ROI opportunity

    • Each new-hire rep had an ultimate quota of $3500
    • Sales Cycle was 17 days
    • Average customer term agreement of 36 months
    • Average 'Sub-Quota' revenue per month during ramp of $1300 (This number reflects the average monthly revenue a new-hire achieves before they achieve quota attainment)

    Step 2: ‘Run the Numbers’ hypothetically for a ‘Specific’ improvement

    In this case, I showed the sales management team what return on investment they would get by helping just 1 sales rep achieve full sales quota in 6 months versus 7 months. Based on their numbers my dia

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    uota. Simply, give them everything they need to effectively reach their monthly sales goal.

    So how was this company doing? They were obtaining this ultimate sales training program objective in 7 months. So how does one determine if that training outcome is a ‘Sales Performance Issue’? Let’s take a look.

    Step 1: ‘Run the Numbers’ for any realistic ROI opportunity

    • Each new-hire rep had an ultimate quota of $3500
    • Sales Cycle was 17 days
    • Average customer term agreement of 36 months
    • Average 'Sub-Quota' revenue per month during ramp of $1300 (This number reflects the average monthly revenue a new-hire achieves before they achieve quota attainment)

    Step 2: ‘Run the Numbers’ hypothetically for a ‘Specific’ improvement

    In this case, I showed the sales management team what return on investment they would get by helping just 1 sales rep achieve full sales quota in 6 months versus 7 months. Based on their numbers my dia

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    The Internet has given people the opportunity to communicate with others and share information. It has also started something called electronic commerce making it easy for someone to buy or sell things in cyberspace.The first site that ever came up with the idea of auctioning is Ebay. This company is more than 10 years old and anyone can post an item for buying or selling.If people find buying a wheelchair lift in stores or even in websites expensive, a cheaper one that is slightly used may be found by doing a search in Ebay.All the person has to do is log onto Ebay.com and wait for the web page to appear. When it is there, the user should type “wheelchair lift” as the keyword then click on search. Within a few seconds, these will all appear and the individual will just scan through what is ava
    er term agreement of 36 months
    • Average 'Sub-Quota' revenue per month during ramp of $1300 (This number reflects the average monthly revenue a new-hire achieves before they achieve quota attainment)

    Step 2: ‘Run the Numbers’ hypothetically for a ‘Specific’ improvement

    In this case, I showed the sales management team what return on investment they would get by helping just 1 sales rep achieve full sales quota in 6 months versus 7 months. Based on their numbers my diagnostic X2 Evaluator™ system showed them a ROI of $79,200 just by trimming off 30 days. If they did that for all 155 of their annual new-hires, they could realize $12,276,000. And that got their attention. So, is it now a worthy sales performance issue to attach pin-point sales training to? Not quite yet.

    Step 3: ‘Run the Numbers’ for a ‘Reality Check’

    The most successful businesses — and certainly, sales departments — have identified their Key Performance Indicators (KPI); individual gateways that directly effect the outcome of a particular process. Then they measure the competency ratios in line with them.

    A good KPI example in the sales process might be how many times you advance the first sales appointment to the next phase, whether that’s a demonstration, a site visit, a survey or a proposal. Another KPI is how many times you gain a new customer once the first gateway is passed. And when you do gain a new customer, what’s the average revenue you achieve? And how long does it take to gain a new customer on average; i.e. sales cycle?

    How about how long it takes you to gain 1 new sales appointment, defined by sales prospect ‘conversation’? And as a by-product of all this, how many new appointments are needed each week?

    We ran these numbers in the X2 Evaluator™ system to see ‘if and where’ there were some leaks in the ‘KPI ship’. And here’s what we discovered; not a leak, but a big ‘ole fire hose.

    Two ‘KPI issues’ were apparent. First, why does the ramp-to-quota for a new-hire take 7 months when the average sales cycle is 17 days? Second, they were only setting 3 new appointments per week when they needed to set 6, based on their other KPIs. So their sales appointment ‘activity barometer’ was only running at 50%. And that will dictate a longer ramp-to-quota.

    Dig a bit deeper in the X2 Evaluator™ system and out popped a 6% conversation-to-appointment ratio; they had to conduc

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