Closing More Sales by Letting “D” Class Prospects Go

John had been doing very well in sales.  But he knew he could do better.  So he called and asked for some help.

He was making a very good living, but felt that he wasn’t focused.  He wasn’t spending his time, effort, and energy in the right places.  John was running on two cylinders…which weren’t running very smoothly…and was still making over £100,000.

For years he’d said to himself: “Imagine what I could do if only I could get focused and manage my time better.  Then I could make some ‘real’ money.”

When asked what his closing ratios were, John pondered the question for a few moments, and then said that he didn’t have the slightest idea.  He had never kept any kind of statistical records.

We then asked more sales-related questions:

  • What is the size of your average sale?
  • How many sales did you make last year?
  • What was your biggest sale last year?
  • How much money did you earn on it?
  • What was your smallest sale last year?
  • How much money did you earn on it?
  • What is the profile for your ‘ideal’ client?
  • How many sales do you close on the first meeting/call?
  • The second? The third?  The fourth, fifth, sixth, or tenth?
  • What is your best source for leads?
  • What are your sales, profit, and income goals for this coming year?

John thought about these questions for a few moments, and with a puzzled-look on his face, he said in a soft, quiet voice, “I don’t know the answers to most of your questions, but if you’ll wait a moment I can dig up the answers to the others, I just don’t have that information at my fingertips.

He continued, “I was never much of a record keeper.  For the most part, I’ve just been flying by the seat of my pants.”

If you want to be successful, you must run your business, like a business.  You need to know:

  • Who are your best (most profitable) customers
  • Where they came from
  • How much they spent with you
  • What are your most profitable products
  • The average value of your sales
  • Your closing ratios.

You should have the answers to these questions at your fingertips, for without them, you’re like a sailor who is in the middle of the ocean without a compass, sextant, radio, radar, or GPS .

You’ve no idea what direction you’re going.