It has to be said, I am sorry, but it does have to be said.
Brexit has made a difference and will make further differences to business.
Things are changing and there are more changes to come.
But, I am not one of the doom-mongers as I believe it offers us interesting and useful opportunities. I say ‘offers’ as it is up to us whether we take those opportunities or sit back and just hope.
Whatever happens there will be change, and we need to be prepared as best we can. But prepared for what? I believe there are four indisputable facts:
- Brexit will happen!
- Markets will change
- There will be greater focus on domestic markets
- We will find ourselves competing with more UK companies as larger providers seek to replace off-shore business.
This is what happened to Salient in the last 18 months:
- Five larger prospects, (£1M turnover+), were reasonably secure in my sales pipeline.
- As the Brexit vote loomed, happened, and shocked the markets, these five companies retreated, not wishing to ‘spend money when the market was so unpredictable.’
- My cash-flow forecast dropped considerably!
- I initiated my contingency, my Plan B, and targeted the smaller businesses that tend to ‘get on with it’ no matter what the market is doing.
- I had to replace one large opportunity with ten smaller ones.
- It was successful, and I have now progressed to Plan C where I develop the new smaller company market, while attracting new larger opportunities.
But what of the larger companies? What will they do in this Brexit uncertainty?
I believe they will do very much as I did and look to smaller domestic markets to fill the gap in their turnover.
In other words, those who rely on domestic markets for the majority of their turnover will start to find more competition from larger suppliers.
There is another side to this. Those seeking your products or services are less likely to look off-shore for suppliers as these are likely to become more costly. Therefore, they will actively seek domestic suppliers. It could be you, if you are ready! Another point is that if they previously sourced from larger companies, they are likely to spend more than your present customers.
To summarise, this could mean for your business:
- New domestic markets are likely to open up
- Competition will increase for home-grown opportunities.
- The new opportunities have different expectations and spending levels
Are you ready?
Is your sales team and/or your sales process the best it can be?
Your sales effort needs to be at its best; sharp; focussed; forward-thinking.
Don’t miss the boat.
If you fail to address this, others will get there first and will win the lion’s share of the new opportunities.
If you are successful in this, your business growth could be double what you would anticipate for 2018.
If you would like to discuss your experiences of this, please be in touch; call or email Andy
What does summer mean to your business?
What does THIS summer mean to your business?
Are you expecting a rush of new business to come to you? Perhaps other businesses want to invest in you before the markets change, which will happen inevitably.
Or, are you expecting the normal summer lull to be worse than in previous years as, following ‘Brexit’, your customers are being cautious with their investments?
Perhaps you have the type of business which is not seasonal AND is resilient to change in the markets.
In most cases, businesses are expecting some form of downturn or lull in the coming months. I believe, with careful handling, the pace of change is likely to be slow enough that the markets will not suffer greatly and businesses will become cautiously optimistic over the coming months. I think WE MUST be optimistic of a favourable outcome. If we are not, then we should give up now, and that approach is not for us!
So, the old adage ‘Keep Calm and Carry On’ could never be more appropriate.
In every lull there is a need to fill the ‘spare’ time or effort with profitable activities. What better way to fill the time than by training and coaching yourselves or your team to perform significantly better? When markets start to improve again, for whatever reason, you can then hit the ground running with new knowledge and skills that will help your business to outperform all others.
Reinforcing skills and discovering new ideas and strategies can only make a positive difference to your sales growth and build your business during difficult times.
July and August are the ideal times to improve your skills and your performance. There will then be time to apply your new skills and boost your end-of-year figures.
Is that not worth the investment?
Click HERE for a REAL INCENTIVE to book some training.
Do you really want it?
Lots of money; holidays; cars; clothes; lifestyles…..?
Do you really want it, or do you just want the end result, the reward? Do you want the omelette but are not prepared to break a few eggs and spend time whisking?
Everything of value to you has to be fought for. A struggle is often needed to move forward. This could entail time; working all hours, repetition; over and over again until you get it right; changes to relationships; being with patient people who share your dreams, and so on. Whatever you do requires effort. How much do you want that dream, that wonderful end result that will make you happy? Are you prepared to struggle to achieve it, to work through the process time and again and again until the outcome is secure?
I meet many people who claim to have a dream, a goal, an objective, but have not yet asked themselves these questions. In fact, too many have not even made a plan or mapped out the route they would need to take to get to where they want to go. (Have you?)
Here’s an example (names and figures have been made up to protect the guilty):
John wants to be successful – how successful John?
John’s dream is to achieve a turnover of £100,000 in 5 years – where are you now John?
So, John needs to find and win £85,000 of new business within 5 years – really?!
That is as far as John gets with his dream.
John’s approach is to keep doing what he is doing to make the business grow.* He believes that “opportunities will arise along the way which will boost the business”.
Hands up who is surprised when, in 5 year’s time, John is turning over £32,000, and most of that is from a couple of clients who are personal friends. John’s expansion plans are on hold.
Did John achieve his dream, his goal? No. Why not? Probably because he chose a goal without considering the process, the effort, the struggle that would be needed to set his sights that high.
Every dream has a cost. That cost includes the time and effort, the loss of focus elsewhere, the reduction of short-term-gain in favour of long term benefit. Likely there will be disappointment, fatigue, despondency, even despair in yourself, and possibly those close to you. Is it worth this struggle, or is it likely to damage other things you value more; your family, friends, principles, standards, enjoyment?
If you have considered all this and it is worth it, then go for it! Or, as I read on Facebook last year: ‘Don’t downgrade your dream to match your reality, upgrade your faith to match your destiny’!
However, if the process, the struggle, the ‘pain’ proves too high a cost; lower your sites. You can still win, and enjoy the journey.
* Albert Einstein’s definition of insanity: doing the same thing over and over again and expecting different results”.
There may still be time to add to your sales this year
NOW is the time to put together your plan for next year’s sales
I meet many businesses that, if doing well, make no plans to ‘feed the pipeline’, to seek and win new business on a regular basis. At some stage, the feast will stop and famine will take over. At that stage it may be too late to ask these questions;
- Where will my sales come from?
– have you targeted specific markets and customers?
– have you followed up all previous opportunities?
– and be sure you’re given the chance to quote
– are you talking to the decision maker?
- Am I sufficiently skilled in pitching, negotiating and closing?
– enough to win the business?
– enough to ensure the best deal?
Did you have a sales plan for this year? If you did make a plan; you have now reached the fourth quarter of the year. Are you on plan?
DO YOU KNOW WHERE YOU’RE GOING?
You did make a plan? Good move; not enough businesses do. Too many rely on the ‘Field of Dreams’ principle of ‘If you build it they will come’. Unfortunately, business is never as simple as that. Building a business ready to supply the market is one thing, but;
– making it attractive to those who may buy from you
– developing an interest from those who could use your products and services
– showing how well you can fulfil their need
– securing the business by gaining their commitment, and
– delivering and exceeding their expectations
…are all skills that can be learned, developed and embedded into your selling process.
Selling need not be difficult, stressful or something to avoid! Selling can be ethical, simple, even fun! Being better at selling means winning more sales. But, you do need some useful skills and techniques to help ensure this happens.
So Plan – Action – Review. Review means measuring your progress against plan and making any changes needed to remain on, or exceed your plan. You cannot measure everything, but knowing where you are against your sales plan will help you to ensure positive progress and achievement.
So, you have a plan for next year? How about aligning it with you 5 year and 10 year plans?! Don’t rely on the short term view; turn that wish list into reality by making longer term plans for it to happen. Make sure you know where you’re going!
Salient Sales & Training – taking the pressure out of selling
(If you are not happy with your answers to any of the above questions, why not book on our next seminar? Details are on the website, under ‘Events’.