Review essential strategies for achieving successful business growth and increasing your sales sustainably
CREDIT: This is an edited version of an article that originally appeared on The Sales Ace
In the fast-paced world of small businesses, the pursuit of increased sales is an enduring theme. The equation seems simple: more sales equals more revenue, paving the way for expansion. But while increased sales undoubtedly drive growth, they should be viewed as a catalyst, not the sole solution.
Many businesses have discovered a subtle truth the hard way – ramping up sales alone doesn’t guarantee success. In the quest for expansion, businesses can often focus on recruiting more salespeople, launching promotional campaigns, setting ambitious targets, and pushing their teams to close deals. Initially, it works like a charm – orders flood in. But the honeymoon period is short-lived, and cracks start to appear.
Scaling the sales process
For sustainable growth, your entire sales process must be primed to scale alongside your rising sales figures. To set the stage for this transformation, start by asking some pivotal questions:
Understanding the Customer Journey
Do you truly comprehend your customer journey from initial interest to completion? The sale isn’t just about the moment the customer commits; it’s a complex journey. The entire buying experience needs to be understood before you can fully evaluate what is needed to increase sales in the first place.
Capable sales processes
Are your sales processes equipped to handle the surge in demand? Often, as the sales team excels, you might discover your existing processes can’t efficiently meet the new demand, leading to inefficiencies and fragmentation.
Sales team training
Your existing sales team might be skilled, but are they prepared for the demands of exponential growth? It’s not uncommon for gaps to surface as sales volumes increase. Pre-emptive sales training can be a game-changer in your expansion plans.
Comprehensive growth strategy
While urging your sales team to secure more orders is a start, they rely on your strategy as their guiding framework. A successful strategy spans marketing, post-sale service, order handling, and more. It’s not just about increasing sales; it’s about the entire customer experience.
The double-edged sword of sales growth
A well-trained sales team can indeed boost sales, but the flip side is stark. Without efficient order fulfilment, customer service, a growth-focused strategy, and adaptable sales processes, initial success is fleeting. Orders decline rapidly, and your exceptional sales team may lose faith and seek opportunities elsewhere.
The takeaway is clear: if you plan to expand through increased sales, ensure your entire business can accommodate this growth. Notable companies have faced turbulence when their sales strategies outpaced their operational capacity. Tesla, Nike, H&M, and even McDonald’s grappled with quality control and inventory management issues during rapid expansions.
In this pursuit of growth, you might want to steer clear of the pitfalls that have tripped up even the biggest names. With these insights, you’re better equipped to navigate the nuanced world of sales-driven growth and set your small business on the path to sustained success.
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