Taking the decision to scale your sales team means your business has proven itself and now it's time to grow. This is an exciting milestone but is one that has to be carefully thought through. Always bearing in mind that scaling your business reinforces any processes that have been set up and put in place during the initial start-up. So when it comes to scaling you need to ensure that you are as prepared as possible so that you can grow consistently, efficiently and in a sustainable way. This is vital when you consider that businesses that are cleverly geared for scaling, can grow up to 20 times faster than those who try to scale too quickly and without enough thought.
Begin with the sales structure
The most crucial place to start when scaling your business is with your sales process and ensuring that your sales cycle is secure. This foundation will provide a good place to grow from. Here you need to understand how many additional sales staff you will need in order to reach your targets. If you don't already have a strong sales structure in place, then this is a good time to start designing one and tailoring it to your team’s specific goals, cycles and processes. Ensure that you are paying close attention to some key factors including how your system can be replicable and repeatable. it should be straightforward and simple, it should be easy to maintain and it also should be measurable with clear KPIs in place.
Best practices to keep in mind when scaling your business
1. Ensure your sales staff are team players
When it comes to sales staff specifically, you don’t want people who are just there to scour for leads and make a quick commission. Rather, a good sales person (as with any staff member actually) really cares about the bigger picture and wants to improve where there are inefficiencies or gaps in the business. This begins with the hiring process and requires tapping into the values of the person and understanding if they are truly passionate about your service or if they are just in it for the salary. The former will land up being a lot more loyal and accountable in the long run.
2. Ensure your scaling strategy and timing is intentional
Scaling your business hinges around upping your revenue faster than incurring the operational costs. In this way, scaling is a sustainable growth strategy that will enhance key performance. The best way to achieve this is through implementing informed repeatable processes. This means that you need to crystalize your intention in order to have a solid vision for the business moving forward.
3. Constant coaching and mentoring
This is an incredibly important area to consider in your sales team. In fact their success, productivity and future growth depends on it! This begins with having people on your team who want to be mentored and shown how to grow. Then you have to deliver on this promise consistently and passionately. This entails setting up your sales process around your people and then building functions and structures around them.
What are the mistakes you need to avoid when scaling your sales team?
- Don't hire in desperation
Before you embark on the hiring process, ensure you have a solid outline of what you are looking for in a sales rep. Then don't offer the position to someone who isn’t completely in line with this. Being short staffed isn't a good enough reason to hire. Remember your sales reps are customer facing and hold a huge amount of power when portraying your brand to the market. Be very protective of who you give that responsibility to.
- Make sure you offer enough training
Even if a candidate is a natural salesperson, there will always be training required that is unique to your business and structure. Never assume people know what to do and right from the start create a culture of learning and collaborating with clear expectations of what they need to achieve in their role.
- Don’t allocate an unnecessary amount of time to forecasting
While forecasting is essential, it should never be to the detriment of your team. So try and spend a logical amount of time on your forecasting but then also make sure you leave enough time and energy to coaching and working closely with your sales team in real time.
The bottom line
Scaling your business successfully starts with your sales team. This is an exciting time of development but also one that requires a lot of thought and strategy. This begins with careful planning and crystalizing your mindset. Once there, you have a strong foundation for future growth.
To fund your next sales team growth strategy, contact Merchant Capital and fund your business in the next 48 hours.