It’s been all over the headlines … recession? Or not?
No matter how you define it, or whether “they” declare it official, the fact is that the global economy is topsy-turvy, dealing us all kinds of challenges: supply-chain issues, commodity costs, shipping costs, inflation, and more.
Chances are, you’ve wondered how your organization will fare during this time (and if you haven’t, now may be a good time to start thinking about it).
The good news: you can take specific actions to “economy-proof” your team and your organization, whether it’s a startup, a struggling company, or a billion-dollar corporation.
As we enter the third quarter of this year, now is the perfect time to look at how well your organization is prepared for any economic challenge and to put in place systems and structures (and mindsets!) to make 2023 a year of increased profitability and new heights.
That’s why, today, I’m going to share with you seven simple-yet-powerful strategies you can use now to position your team and organization to sail through any economy with flying colors.
Before I do, I’d like to introduce (or re-introduce) myself, so you know how I can help you.
I’m Barbara Spector, Founder and CEO of SmartMoves, where we take the guesswork out of hiring, developing, and retaining your people. And when it comes to sales, we help you demystify the obstacles to growing revenue.
Helping you transform your sales organization is my passion! It’s literally what gets me up in the morning.
And that’s why I’m so excited to share with you the strategies I referred to above.
- Examine where your sales are now.
When it comes to sales, where do you see growth, and where is there room for improvement? Are certain funnels working better than others? Are certain products or services selling well, while others flounder?
- Take a look at your team.
Just as you examine the sales of products and services, it’s a critical to check in on your team members. Analyze their strengths and identify where they might need extra support now.
- Consider making changes to your sales strategies and processes.
I hear you—change is hard! But you’ve seen it: the world is changing all around you. If you don’t adapt your sales plan and strategies, you’ll be left behind.
Consider markets you haven’t explored, new problems your organization could solve, and how you can pivot to become relevant in this crazy world. Keep in mind, too, that for most consumers, money is tight. This means people are taking longer to make decisions and purchases, which means you need to keep those funnels full. Consider how your team can do that.
- Love up your leaders!
I probably don’t have to tell you that your leaders and managers have a major impact on the success of your sales team – and your organization’s profitability. Stay positive, support your leaders and their professional growth, and manage your pipeline to bring in wins.
- Recruit and retain the best of the best.
Today’s economy is really shaking things up! Brilliant, talented, hardworking people in every industry are hungry for new jobs. In your organization, strive to create an atmosphere that attracts and nurtures great employees. Also, provide continuous coaching, so members of your team have what they need to continue to sharpen their skills.
- Sharpen your skill set.
This economy is challenging for salespeople, but that doesn’t mean it’s impossible to increase profitability. Those with sharp skills can and will succeed when they can differentiate your organization from the competition, sell on value, and drive growth.
- Maintain a positive, growth-oriented mindset.
Mindset is everything! Approach every situation from a solution-oriented perspective, considering how you can create success. Consider each challenge an opportunity to learn—lessons are mined in the trenches.
The bottom line:
Both skill set and mindset are critical for achieving the profitability that everybody wants, and even more so during an economy like the one we’re experiencing now.
