Goal Setting Part Two!

posted: Friday, May 21, 2010

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We started talking about goals, how important they are and how to go about setting them. Today we will pick up where we left off, and continue to examine the keys to effective goal setting, both for individuals and for your team as a whole.

Goals must be written and posted: There is something magical about something being on paper. A goal that is not written down is just a good idea; but once it is written down, it becomes real. By writing it down, you are holding people accountable to working towards and achieving their goals. Having goals for each individual salesperson posted accomplishes two things in particular. One, it acts as a silent assistant to the sales manager by letting everyone know what the goals are for everyone on the sales team. Secondly, and in concert with the first reason, they motivate each member of your team to both accomplish their goals and compete with their fellow salespeople.

Individual's goals are set based on history: The goals for each individual salesperson must reflect the capabilities of the individuals. If we have four people working for us - one is a five year veteran, one a two year veteran, one has 6 months experience and the fourth is brand new. It would be unfair to expect a new employee to sell as much as the salesperson who has five years experience. Base the individual goals upon historical data for the people. For example, the person with five years experience normally produces 31.2% of sales, the person with two years experience produces 26.8%, the one with six months 22.0% and the new person should produce 20.0% of the different goal levels.

You must set three levels of goals for each of your salespeople - Minimum Goal, Goal, and Stretch Goal:

The first of those is called the minimum goal, this is simply the level a salesperson must produce to maintain his/her position.

The next level is called the goal - This is the level that the sales manager believes the salesperson is capable of producing.

The third level is called the stretch goal - This is the level where, if attained, a reward would be provided. Everyone wants to know where they stand and what levels they need to attain to gain more money, bonuses, or awards. These levels allow the salespeople and their manager to always know where everyone stands.

More on goals next time.

FINAO - Brad Huisken

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