Chapter 3 Assignments
Assignment 1: Create a Weekly Plan
Using the guidelines from this chapter, create a weekly plan for yourself based around your current student schedule.
(I work a flexible schedule at a grocery store, time varies but its 4-8 hrs 5 times a week, and I have 5 classes this semester)
Plan every hour from 8am to 6pm and block off time for all activities such as class, homework, meals, exercise, etc.
Use a color coding method of your choice. Create a key for the color coding so that you and your instructor can easily identify patterns in your schedule.
Assignment 2: Setting S.M.A.R.T. Goals
Set at least one smart goal in each of the following three categories:
(My career goals is to get a job in marketing)
5-year career goals. What do you want your career to look like five years after graduation? (i.e., salary, type of work, career advancement, etc.)
Personal goals. What are some personal goals that you would like to accomplish within the next 1-5 years? (i.e. relationships, health, exercise, family, hobbies, etc. (want to get married, and you can come up with the others)
Education goals. What goals do you hope to achieve by the time you graduate (e.g., graduate top your class, earn certain awards, achieve a certain GPA)? Do you have any graduate school goals? (pass all of my last years classes and still have a GPA over 3.4)
Requirements: enough to answer the questions
(3) Edify App by Stukent X + V f-➔ C ~ c!J * • ~ □ C, ( Update : : ‘—————————————————-i edifyapp.stukent.com/EFY-PROSALES/CC-B5F35D 1 . The Critical Role of Planning Working without a plan is like running a race without knowing where the finish line is. Many ~~!-~_l!; professionals struggle with planning and maximizing activities to increase sales. Many focus on administrative tasks and short-term to-dos such as creating reports, handling a client’s technical issues, and responding to endless internal emails. Organizational challenges can also inhibit sellers. For example, sellers at a smaller company may naturally be expected to fill multiple roles. Because small firms often lack resources, salespeople may be expected to source their own leads, handle client issues. handle legal contracts. and take service calls in addition to the activities more commonly associated with professional selling. According to Xactly, an employee performance software company, only 39% of a sales prolessional’s time is spent actually selling, and firms miss up to 10% of sales opportunities because of poor planning. Poor planning often results from simply not making lime for the most effective tasks. Because their job is to make money for the organization by selling to customers, salespeople need to focus on activities that drive sales. such as calling prospects. meeting with prospects, offering demonstrations, and closing deals. Selling activities generally fall into three categories: 1. Salea-related activities: Active selling tasks that help drive revenue growth. These tasks are the most critical and should take lop priority when planning. 0 (10 w I
E) Edify App by Stukent X + ~ ➔ C C:, c!J * • .±, □ 0 ( Update –===——-====-===———–=====-=-=-==–=====—=——–===-==–==—i edifyapp.stukent.com/EFY-PROSALES/CC-B5F35D 1. The Critical Role of Planning 2. Essential administrative tasks: Administrative tasks need to support sales activities. Making reports, creating proposals, and sending emails to current customers are essential activities. However, when possible, the salesperson should outsource these tasks to a secretary or assistant, or do them during non-peak prospecting times such as when clients are not at work. 3. Non-essential administrative tasks: Tasks that are not essential to sales efforts should not take top priority. Creating inlernal reports and dealing with technical product Issues are important tasks, but they should not occupy all of your day. like most administrative tasks, these activities can be completed by a secretary or assistant. Think Like an Entrepreneur How do sales professionals achieve success if their organization Is small or doesn ‘I have the most effective processes? What If the salesperson has to do all the activities themselves? Great salespeople take ownership and think like an entrepreneur. They see their territory as their ·own business· and recognize that success Is contingent on their ability to manage lime eflecllvely. When a startup Is llrst beginning, entrepreneurs have to wear many hats. They quickly learn both lhe essential and non-essential tasks. Furlher, when sales professionals think like an entrepreneur, they look lor creative solutions that save time and solve time management Issues. They don’t wail to be told what time-saving software to use. They do their own research and Invest in 0 c.1o m I
e ~ Edify App by Stukent X + ➔ C i edifyapp.stukent.com/EFY-PROSALES/CC-85F35D C;!; c!:J * • .±. 1. The Critical Role of Planning AA ;❖. software that enables them to be purposeful with their selling time. They don’t wait for formal company training to tell them how to plan their day. They get to work earlier, and dedicate time outside of prime selling hours to get administrative tasks done. No matter the circumstances, salespeople who think like entrepreneurs look for and discover ways to get things done. Weekly and Dally Planning Top-performing sellers maximize their planning efforts during weekly and dally planning. Here are some proven strategies for effective planning. WEEKLY PLANNING Most successful sellers review any upcoming tasks lhat need to be completed by the end of the week during a weekly planning session. This weekly planning session should take place during non-peak selling time (e.g., early morning), and should last about an hour. Begin your planning session by identifying any upcoming meetings with customers. They then set a goal for each meeting and ensure that you have the right resources to accompllsh that goal. If you have a meeting with a new prospect, you should address the following questions during your weekly planning meeting: • Do I have all the detalls I need need aboul a particular prospect, such as the customer’s desired solutions? 0 ‘1o V □ 0 ( Update 🙂 ,/’ m I
Q:9 Edify App by Slukent X f-➔ C i edifyapp.stukent.com/EFY-PROSALES/CC-85F35D C;!:. c!:J * • .±. □ 0 ( Update 🙂 ,/” 1. The Critical Role of Planning AA -·~-/· m Do I have all the details I need need about a particular prospect, such as the customer’s desired solutions? Does the meeting have an agenda? Do I have have the information that the prospect is expecting? I Is there anyone else on my team that needs to be invited to the meeting? Do I have strategies prepared to overcome any objections that might come up during the meeting? Next, plan for other non-customer appointments and activities, such as company meetings, planning sessions, and other important tasks. Identify openings on your calendar to schedule follow-up appointments. Effective salespeople also ensure that prospecting activities are scheduled. Prospecting is an essential activity and should be blocked out on your calendar just like a meeting. The figure below offers an example of what a seller’s calendar may look alter weekly planning. We will discuss color blocking a bit later. DAILY PLANNING At the end of each day, successful sellers make plans for the next day. II you have an effective weekly planning session, then daily planning should only take 15 to 20 minutes. Similar to weekly planning, dally planning Involves making goals for each meeting and setting careful plans lo reach those goals. 0 (10
(3J Edify App by Stukent X + f-➔ C i edifyapp.stukent.com/EFY-PROSALES/CC-B5F35D C:, c!J * • .±. □ 2. Time Management AA -‘:Ii /· Telrt Preferenc~ S_ECTION: 2 Time Management Time management is a critical comp~nent of a successful sales career. Time management entails both planning (as discussed above) and knowing the right things to plan. Many sales professionals do not reach their goals simply because they are not planning activities necessary to achieve those goals. Focus on Key Performance Indicators (KPls) Successful sellers manage their time effectively by planning activities that impact key performance Indicators (KPls). KPls measure the effectiveness of key business objectives (a later chapter on Selling Analytics will discuss the most important KPls). A salesperson uses KPls to focus selling efforts and measure performance. For example. assume that for every 30 prospecting phone calls, you generate an average of 1-2 appointments. As a result, you may set a KPI for 30 prospecting phone calls every day. In planning to reach that KPI, you could plan for two hours of uninterrupted time and block that time on your calendar. Intentional Use of Time Salespeople need to be lnlentlonal with their time. They need to manage time, rather than allow their time to be managed by outside Influences that can distract from essential selling activities. Otherwise, sellers often end up doing only the tasks 0 c’o ” 0 ( Update I( m
(3J Edify App by Stukent X + f-➔ C i edifyapp.stukent.com/EFY-PROSALES/CC-B5F350 -.±, □ 0 ( Update 2. Time Management Immediately in front of them. Take for example the salesperson who spends two hours resolving a client’s complaint about a problem with software rather than allowing technical support to deal with the issue. The salesperson worked on the technical issue instead of using the time to do the prospecting that was scheduled. In this example, the salesperson is being reactive rather than active. While salespeople need to make sure their customers are happy, salespeople should delegate some customer tasks to others within the company. Use a Planner or Calendar Effective time managers use a planner or calendar, such as Google calendar, Apple calendar, or Outlook calendar. F i g u r e 3 . 2 . 1 d I s p I a y s a s a I e s p r o f e s s I o n a I ‘ s w e e k u s I n g G o o g I e c a I e n d a r . I n t h I s e x a m p I e , t h e s a I e s p e r s o n h a s c ~o r • coordinated the calendar, which helps to quickly Identify the highest priorities for the day. For example. ii a pro~pect calls you and asks to meet tomorrow, you can quickly identify which time slots are the lowest priority in order to schedule the prospect. Color coding can also help identify where time Is being spenl. The example below uses the following color coding: Orange: office time for administrative tasks Red: Internal meetings 0 ~o m
lCJ tally App oy :.tu•em X “‘t” ————–========–==———-=-======——::-:—-:–~ I:;!:. c!J * f-➔ C i edifyapp.stukent.com/EFY-PROSALES/CC-B5F35D • .±, □ 0 ( Update 2. Time Management Yellow: meetings with potential clients or client meetings Green: prospecting activities Blue: lunch or personal time_ Purple: time for replying to emails REPEAT ACTIVITIES ON YOUR CALENDAR Sales professionals repeat many activities throughout the week. For instance, in Figure 3.2.1 you will notice that prospecting is a daily task. You will also need to schedule important meetings throughout the week, such as monthly meetings with clients, daily planning sessions, and weekly planning sessions. Put these activities on your calendar using t h e • re p e a t • o p t i o n t h a t m o s t c a I e n d a r I n g I o o I s o ff e r t o e n s u re I h a I I h o s e 11 m e s d o n ‘ t g e t o v e rt a k e n b y I e s s e r p r i 1r i t i e s . Of course, you may need to occasionally adjust the schedule. For example, if a potential client is only able to meet with you during your prospecting lime, then you should consider adjusting your prospecting time for the day to accommodate the call. In Figure 3.2.1, prospecting time usually begins at 10:00 am. However, the only time Amber (a prospective customer) could meet on Monday was at 10:00 am, so lhe time for phone prospecting was slightly adjusted. But in general, you should prioritize your prospecting time so that you don’t fall behind on your KPl’s. TIME BLOCKING 0 (1() m
My App by Stukent X + ➔ C C:, c!J * :fl, .±, □ 0 ( Update ::::–::==—-===:-===–==::———–=========::—–=========-i edifyapp.stukent.com/EFY-PROSALES/CC-B5F350 2. Time Management TIME BLOCKING The principle of time blocking as seen in Figure 3.2.1 is a powerful planning strategy. Time blocking means planning and devoting large blocks of time around one particular activity. Rather than going back and forth between tasks, it is better to perform single tasks in larger blocks. Research shows that time blocking is a much more effective way to work than multitasking. One study found that only 2.5% o f p e o p I e c a n m u I t i t a s k e fl e ct i v e I y_. According to neuropsychologist Cynthia Kubu, ·we’re really wired to be monotaskers, meaning that our brains can only focus on one task at a time. When we think we’re multitasking, most often we aren’t really doing two things at once, but inslead, we’re doing individual actions in rapid succession, or task-switching.” I PLANNING FOR NON-PEAK HOURS Both non-essential tasks and administrative tasks can easily overrun your day. You obviously wouldn’t want to spend time responding to emails or writing reports during prime prospecting times when clients may be available. These tasks should be scheduled on your calendar during non-peak limes such as lunch, early mornings, or towards the end of your day. When the urge comes to do one ot these administrative tasks, you need to consciously tell yourself you will do It during the time speclllcally allocated for that task. w
I;:. t!J * • .:!:. □ 2. Time Management AA _,❖: PLANNING FOR NON-PEAK HOURS tasks Can easily overrun your day. You obviously wouldn’t want to spend time Both non-essential tasks and administrative responding to emails or writing reports during prime · · prospecting times when clients may be available. These tasks should be scheduled on your calendar during non-peak times such as lunch, early mornings, or towards the end of your day. When the urge comes to do one of these administrative tasks, you need to consciously tell yourself you will do it during the time specifically allocated for that task. Use Toofs to Be Efficient Scheduling meetings Is an Important administrative task, but It can be time consuming. Instead of continually emailing back and forth with people 10 find a meeting time that works, use a calendaring tool. Calendaring toots such as Calendly ~ lnlegrate with your personal calendar, Identify times that you aro free, and allow clients to choose when they can meet with you. Other lools. like PandaOoc or Docus/gn, can help with importanl repeating acllvlties such as creating proposals. These lools have built-In templates that help you avoid creating new proposals from scratch each time you need one. They also offer digital proposals with approproale bulll-ln workflows (e.g., order of signing), and they allow your clients to sign documents electronically These simple tools will save you many hours lhat might otherwise be spent on endless administrative tasks. V 0 ( Update 🙂 ,/’ m
Edily App by Stukent X + f-➔ C i edifyapp.stukent.com/EFY-PROSALES/CC-85F35D .. .:!:, □ 0 ( Updale : ) ./’ 3. Fundamentals of Goal Setting S_EC_TION: 3 Fundamentals of Goal Setting Having the right focus on planning ~nd goal setting is critical for your success as a sales professional. Goals give you direction and help you focus on the right activities. As a sales professional, you will generally encounter two types of goals: goals that are given to you from your sales leaders, and goals that you set for your personal success. Regardless of the type of goals you set, it is critical to write them down. New Tech Northwest reports that people are three times more likely to reach a goal if they write it down than if they simply have It in their mind. Examples of company goals might Include goals like: Each sales rep should close $300,000 In new business by the end of the quarter.) Each business development rep should set two new appointments each day. Each learn member should ask for one referral each day. Examples of personal sales goals might Include goals like: Achieve 150% off yearly quota by December 31. Complete a weekly planning session every Friday afternoon. 0 (1() m
Edify App by Stukent X + V i edifyapp.stukent.com/EFY-PROSALES/CC-B5F35D C;!:. c!J * • .:!:. □ 0 ( Update :: ✓ 3. Fundamentals of Goal Setting AA /,¢,· m Earn S200.000 this year in salary and commission. SMART Goals The clearer and more specific your goal, the better your chance of reaching it. Many sales people use the popular SMART method of goal setting, a concept often attributed to Peter Drucker. SMART stands for: Specific Measurable Achievable Relevant Time-bound According to the SMART method, the followlng goal Is Ineffective: -·1 wan I ro make more money.• Let’s say you set a go a I to ·make more money.• Accord Ing to I he SMART method, this Is not an effect 1l e go a I -it is more of a wish or dream. It Is not measurable. and there Is no time constrain! around it Using the SMART method. you could change the goal to: • ·1 will earn $50,000 In sales commission by December 31. • 0 c:1o
6) Edify App by Stukent X + E-➔ C C:. c!J * • .±. □ 0 ( Update —-===———————————————————–i edifyapp.stukent.com/EFY-PROSALES/CC-B5F35D 3. Fundamentals of Goal Setting This goal is specific, measurable, achievable, relevant, and time based. Let’s take a closer look at how this goal meets each of the criteria for a SMART goal. SPECIFIC In his book “Become a Better You,-lsraelmore Ayivor said, “I have discovered that you will achieve nothing if you pursue everything. Be specific and stay focused.” When it comes to goal setting, be very specific. Rather than saying “I want to make more money,· this goal specifies how much money you want to make (S50,000) and from what source (sales commission). MEASURABLE Goals should always be measurable. In the example goal, the seller Is planning to reach $50,000 in sales commission by the end of a specific time period. $50,000 Is a measurable amount. ACHIEVABLE I A salesperson should evaluate past experiences to determine whether certain goals are realistic. Goals should stretch lhe individual, but they should also be achievable. Getting $10M In commission would be lantasllc, but It Is likely unachievable for most salespeople. RELEVANT [DJ It!
0) Edify App by Stukent X + ~ ➔ C i edityapp.stukent.com/EFY-PROSALES/CC-B5F35D (!. c!J * -.±. —3. Fundamentals of Goal Setting AA RELEVANT Salespeople need to ensure that their goals are relevant to their position. In the example goal, earning $50,000 in sales commission is relevant to the salesperson’s job and is something lhat can be controlled. A less relevant goal would be improving the accounts payable process for the company; this goal is outside the salesperson’s capabilities and scope of control. TIME-BOUND Having a specific time in which the goal should be achieved will increase focus and eliminate distractions. A time-bound goal is also more measurable. For example, with a goal of $50,000 In sales commission by December 31, the salesperson knows when this goal should be reached. Further, the salesperson can break up the goal Into smaller monthly goals. Accountablllty □ /~·. As you create SMART goals, you should also solldlfy a method of accountability. According to observer.com, a study by The I American Society of Training and Development (ASTD) found that people who commit their goals to another person have a 65% chance of completing their goals. This same study also suggests that holding accountabllity appointments with a person you trust to hold raises the probability of reaching your goal to an astounding 95%1 The following table summarizes three popular methods to help you stay accountable. 0 (10 V 0 ( Update 🙂 ./ m