The sales and marketing area of your business is the part of your business that is responsible for finding clients, making sales, and generating revenue. This is the part of your business that makes it rain cash flow.
Too many entrepreneurs only focus on this area of their business because they have to, not because they want to. They are intimidated by the idea of selling. But understand this: In the early and middle stages of your steadily operating business, it is crucial for you the company founder to focus a great deal of your attention and energy on generating profitable sales. If you don’t, your new business will not survive, let alone thrive. It is only as you grow your business that you can replace yourself from this area of your business. To do that, it becomes critical for you the business owner to create a profitable selling system.
In the earlier times of your business you need to make sure sales are happening. Often this will mean you will meet with clients and close deals to generate sales. Later however, your focus needs to shift to creating repeatable and scalable selling systems that aren’t dependent on key staff.
For example, imagine you have a new software start up. A lot of your early effort as the company founder will be in landing the key joint venture relationships with more established players in your industry to market through their client relationships and split the revenue. As your software company grows, rather than focus on going out to meet with new joint venture partners, you might instead focus on finding and hiring the talent to do that for your company. Later, you’ll focus on making sure your business is creating the systems that consistently find and hire new sales talent for your team.
Or imagine you have a contracting business. Early on you will meet with prospective clients to give them estimates and close sales. But this is only a Level Two solution. To create a Level Three business you need to build the system that generates those sales. This might mean creating the advertising systems to generate leads, hiring and training new estimators to go out on sales calls and generate business, and at some point hiring on a sales and marketing manager(s) to take over leadership of this area of your contracting business.
This focus on selling systems is crucial for you to build a Level Three business. Your selling systems include the following components:
- The marketing and lead generation systems to consistently generate the lead volume your business needs to generate sales.
- The lead conversion systems and team to consistently convert leads into thrilled clients.
- The tracking and reporting systems for you to reliably measure the effectiveness of your marketing and sales efforts so that you can optimize your selling systems over time.
Since many sales systems use live sales agents to close sales your system might also need to include the processes you use to find, hire, and train new sales agents. Not to mention the sales management processes you develop to lead, motivate, and grow your sales team over time.