Sun Tzu says, “the general who wins the battle makes many calculations in his temple before the battle is fought. The general who loses makes but few calculations beforehand.”
Fund Szu says, “the Funding Pro who consistently wins and funds deals, tracks and measures performance consistently. The rep who consistently loses deals does not bother with these calculations.”
Well, why is this important?
Continually measuring performance is the surefire way to continually improve performance.
How do you measure the performance of a Funding Pro, anyways?
Just look at sales closed/deals funded, right?
Yeah, yeah, it’s all about revenue generated.
Not so fast!
This are partly right, but not the whole story. Revenue and sales closed/deals funded are outputs that are a result of what a Funding Pro is doing every day to generate sales. So, revenue is what comes out one end of the machine. Now we want to know why it comes out.
To understand the why, we must look at the sales activities (the doing) that generate the sales/revenue. These are the inputs that go into one end of the machine (and when done effectively, revenue comes out the other end).
We have little control over the outputs, but have almost complete control over the inputs we are willing to drive.
So, where do we start?
There are a lot of things that can be measured, but keeping it simple to start is best. And the best place to start is to look at the general sales activity.
According to Salesforce’s most recent study, 92% of all B2B customer interactions are still being done over the phone. Even with technology continuing to evolve at a blistering clip, the phone is the number one tool for reaching customers.
Where we start to measure is outbound attempts.
Dials is the very first place we track on a daily basis to start compiling a sample size of the inputs (what we control) we are putting in the machine to get the outputs we want (sales/funded deals/revenue).
It may seem rudimentary, but what if you tracked and recorded how many dials you made today?
For the entire month?
Some interesting patterns would start to show up.
What if you made it your objective to make 1% more dials every day than you did the day before? Even 1 more dial every day?
After 90 days, even if the quality of the contact did not improve, the deliberate increase of quantity in activity would drive more outputs.
How has tracking dials improved your game?