In today’ issue…
Last week, we introduced what we’ve seen to be the best strategy for consistently achieving $2M in annual sales: align yourself with 10 or more trade partners who can get you introduced to projects early on. These include custom home builders, of course, but architects and designers can be equally effective, oftentimes even more so.
10+ “early access” trade partners should be able to bring you 35-50 new projects/year. At an average project size of $40K-$70K (you’ll need a few $250K+ in the mix), $2M in annual new project sales will be in your sights.
With these targets in hand, you must be organized and ahead of the game at all times. Your trade partner’s funnel of deals is your pipeline to success. You should be as in-the-know with it as they are. You can be a great service to the partner in keeping this dialogue active, throughout the year.
Your main mission is to figure out the appropriate scope for each new client and deliver a solution that fits their budget and turns their home into a great technology experience. Getting them a quick framing of the project, connecting engineering resources to detail the project once agreed, and handing it off to a capable production group is your best role in the company.
Here is what we have seen work for the top-level sales producers in our client group.
To consistently produce $2M:
I. You will need $300K to $400K in proposals each month.
II. You will need to close 40% to 50% of your proposals over time.
III. You will likely have an active inventory of un-dispositioned proposals of $1.2M or more depending on the length of your typical project.
STOP. You will need to keep a log of this activity in front of you at all times.
IV. You will need to ensure that your builder (trade partner) gets the highest level of response and attention. They need you to make sure
their hassle level is extremely low.
V. You need to protect your selling time: become proficient at moving clients to the finish line. That does not mean trying to close the deal in a hurry. It does mean making every client conversation count as they consider your value proposition.
VI. Keep a professional sense of urgency with their interests at heart.
Make sure they buy security monitoring and a service plan from you (this can be $2500+ a year in revenue; at 40 clients that is $100K/yr and in 10 years that’s $1M for your company).
Hone your skills: observe what other successful people in this business do. Learn every day from your selling experiences. And, don’t forget to embrace the team around you; you cannot do it alone. They need you and you need them.
Face it; you will become an extension of your trade partners’ business. They will gladly hand you clients because they know you will treat them better than their own employees do.
Dream Big. Your clients do, and they expect the same from you.