About 100 miles to our first destination I saw a paper fly off my husband’s bike in front of me. When I ran it over, I realized it was our map! “Well”, I thought, ” I guess we will have to wing it from here!”
We got to our location easily, and when I complimented Chris for his navigation skills (and teased him about losing the map) he said: “No problem, I have a back-up map in my pocket!” Considering that we were traveling on roads we had not ridden before, and that map books while riding are not an option, I thought that Chris’ backup plan was a smart one!
Smart sales professionals always have a back-up plan. Do you?
You should have a back-up plan for every sales situation. In fact, I encourage you think of your sales funnel as one large back-up plan. The larger and more qualified your sales funnel is, the more back up you have. Think of it like the insurance to want to help you hit your targets.
Why is this important? Remember that most sales people close about 1:3 qualified leads in their pipeline. Once you close 1 lead in your pipeline, you must have a back up prospect to close another sale! Realistically, you need to have 3. Three new prospects to get one more client. Who are you going to call? Who have you met lately that is in your target market? Who has called in recently? How are you going further qualify the suspects in your pipeline? Do you have anyone new to call?
Consider these facts when creating your sales pipeline or back up plan:
1. Most sales people close 1:3 qualified prospects
2. Most sales people need to make 25 attempts to find 1 qualified lead
3. It takes 75 attempts to make 1 sale on average
So…..If you need to make 10 sales a year to hit your target….You will need to qualify 30 prospects which will take 750 attempts (calls, emails, or letters). You can see how this works in more detail by checking out the goal settling section in our article library .
In the overwhelming majority of cases, sales people fail to achieve their goals because they do not have a detailed back-up plan. Without a back-up plan you don’t know where your next sale is going to come from. This sounds like grey hair and a heart attack from my perspective! Have a back -up plan, fill up your sales funnel – its the most profitable plan you can have in business.
If you missed the first lesson from the road check out the August 27th posting on my blog: Be Prepared!