During these Economic Times, Focus on Singles and Doubles
Yes, another change for our company during these interesting economic times is the shift from power hitting home runs to collecting more singles and doubles – to use a baseball analogy. Let me explain. First, in baseball terms the power hitters will hit a few homers, yet, they usually strike out more than they hit. The players that hit singles and doubles however usually have higher batting averages. Therefore, since they are on base more, they score more runs and are highly valued by their organizations.
The perfect player is one who hits for a high average and has enough power plays for an occasional home run. These are the high performers of baseball and command respect – and usually high salaries due to their production.
In the world of sales today, if you are only hunting for big game, or swinging for the fences at every at bat, then you are probably striking out in today’s economic environment. Play smart and go for the higher batting average – get the smaller sales and the medium sales from customer who will take a risk for smaller commitments (and cash!). The interesting thing is if you get enough of these sales they add up to large sums of sales. Your risk is spread around, so if you lose one account it does not hurt as bad.
Our focus has shifted to the small and mid-size accounts for a strategic reason. The “bigs” are not buying or if they are buying – they are not paying very fast. The impact of slower pay is actually worst than if they do not buy because of the expenses involved in selling a product or service. The small and midsized companies have a tendency to take care of business in a timely manner. We enjoy a steady flow of receivables to worrying about when a “big” one will pay – 46-60-90 days or longer! Ouch!
Build a board base of accounts that are active and appreciate the value you bring to the table. Actively search out the “progressive” customers who understand that cutting expenses will not grow any business in the long term. Now is the time to prepare for the future. Get your activity rates up on sales and marketing efforts. Touch your prospects and customers as often as you can without becoming a “pest.”
These economic times are difficult, so simplify your life by going for more small sales and let them add up over the month. Activity levels must increase to offset the smaller sales, but that is okay. You got to the level you are by making one sale, then another sale, and another. You and I can do it again. I even like the idea of helping my smaller customers grow their business to new levels. They can take me to the next level if I serve their needs the right way.