|January 30, 2016||Comments Closed|
It’s often said that great athletes don’t always make the best coaches and managers. They know what to do, but they cannot communicate how to do it.
I often see this in small- to mid-sized financial services firms. The owners, partners or directors, who are effective sales professionals in their own right, are having difficulty transferring their knowledge and experience to producers within their business. They become increasingly frustrated with lack of growth and the sales capabilities of their people.
Top-performing firms understand that achieving superior growth requires sales leadership: someone with the responsibility for building a sales culture that will drive growth across all areas of the business.
In large firms this responsibility will often fall to a senior executive; however, in small- to mid-sized firms, the owners, partners and directors also need to wear the hat of sales leader as well as manage their own client portfolio and run a business.
Sales leadership is not the same as sales management, where the focus is often on trying to develop under performers who may be lacking in skill or motivation. Instead, sales leadership is about building a sales culture and holding people accountable.
Fortunately, just like selling, sales leadership can be learned. Here are nine performance problems that you need to watch:
Top-producing firms know how important it is to understand how their business operations are doing and to regularly monitor and compare their results with other top-performing firms. They achieve this by conducting a performance check at least annually to evaluate and measure four key results areas:
Regardless of the the type of financial services you operate, if you regularly monitor your key results areas, seek help or advice on correcting subpar performance. Not only will you produce consistent growth, you’ll also be known as a great producer who is able to lead.