Businesses need to make money. To make good profits, you need to get good sales.
One of the hardest lessons an entrepreneur can learn is that a business that’s losing money will have to close one day. Not only would it hurt to see something you’ve invested so much into fail, but a business that closes due to funds is also one that has no value to you on exit.
This article explores one of the best chances of ensuring that your business maintains a profitable position as well as ways in which a Part-time Sales Director can help with business challenges that you may face when it comes to sales.
The difference that a Sales Director can make
There are two primary ways that money comes into a business: customers and investors. Investors need to have confidence that they’ll get a good return. A strong sales strategy shows them you’re more than capable of making money.
If sales isn’t your specialty, it’s important to have someone on your board that knows what they’re doing. With years of experience, a Sales Director can bring their knowledge of markets, strategy, and leadership.
Their guidance can help you achieve the business growth you’re looking for.
Here are just a few challenges they could help you face:
1. Reviewing your sales process
When a Sales Director comes in, they can assess what you already have in place. They’ll know how to get the best out of your market, having experience in your sector allowing them to maximise your conversion rate.
The ways you have attracted customers while your business was in its younger years may work fine, but as you grow, it could lead to inefficiencies in your sales process. This could waste your team’s time or even start to hurt your business profit-wise.
Your market might prefer talking on the phone or email, or maybe a proposal could be better served with face-to-face meetings. Using the experience of Sales Directors, they can help tailor your sales process with what the current demands of the market are.
2. Restrategising your sales for growth
Scaling your business up means you want a lot of growth quickly. You may have the funding to kick start your scaling up, but to maintain it, you need a great business growth strategy. If you’ve not strategised specifically for sales growth before, it may help to have some expert guidance.
Restrategise to keep up with the changing market
Markets evolve; the prevailing opinions of your customers won’t remain static, and it’s possible that you may be faced with major changes you have not seen before.
It’s important to have strategies that are resilient whilst also knowing when to adapt. Experience of previous market changes can help plan a strategy that’s ready for anything.
It’s tempting for a lot of business owners to think they need to out compete the existing businesses’ prices when new to a market, but this isn’t always viable. It could lead to becoming non-profitable or to having lack of foresight on better options.
An experienced Sales Director can help find the right balance between securing profit and staying competitive with your pricing model. When planning to grow, you need to know why customers should choose you. After all, if you don’t know what makes you special, the customer won’t buy into your marketing.
You may already have a value proposition, but having experience on hand can help tighten it up and keep it true as you develop.
3. Building Your Sales Team
As you grow, you can no longer rely on one or two people to handle sales. Even if you already have a team, there’s always room for improvement. A Sales Director knows what works and can help you develop your perfect team.
If you don’t have a dedicated sales team, then you’ll need to get one. But, do you know what makes the best sales candidates? Without the right experience, getting your hires right isn’t guaranteed, nor is getting the most out the people you already have
- Previous sales and a good CV aren’t everything – a Sales Director already has years of successfully managed teams under their belt so they know who to hire. They can also help make sure your new hires are the right fit for your market and your business.
- A Sales Director can support your existing team through continued development. By providing mentorship to inexperienced managers and advice to improve ineffective teams, bringing your sales process a step closer to running by itself. They also know where you can access the best training for your team along with what they need most.
- Because of how important getting sales right is, it’s not uncommon for sales teams to get incentives to motivate them to sell more of the most profitable products or services. A Sales Director can introduce an incentive scheme, or review the one you already have, to make the most out of your team without compromising your improved income.
Why a Part-time Sales Director could be right for you
Just like the rest of the sales team, a Sales Director needs their incentive. And when you’re hiring a Full-time Executive Director, it’ll be a significant financial commitment. However, when you’re just starting to develop a sales team, a full-time director may be too much, but just having a manager in charge (without the team) may not be enough.
With a Part-time Sales Director, you get the best of both worlds. The review of your existing sales doesn’t need a long term relationship, while other challenges can be faced by coming in to provide support as and when it’s needed. You don’t need your Sales Director in the office every day of the week.
By using a part-time director, you can find the relationship that works best for your business’ needs and budget. Flexible contracts allow you to find a balance that you can change as needed. If you want them there more at the start and then less frequently with rarer reviews or if you want them there every week, the options are available.