Recession Revenue Rescue Mission Now in Progress
“You haven’t given up already, have you?” I asked.
A recurring—and disturbing—theme has become clear as I talked with sales leaders over the last several weeks. It's important enough that I decided to delay the second part of my Sales Productivity series which I started in my March e-letter until the May e-letter. Instead, I'm taking this opportunity to help you head off this disturbing theme in your work by mounting the recession revenue rescue mission.
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One senior sales executive told me that 25% of his annual bonus is based on meeting his revenue target for the year. When he told me that based on the end of March YTD results he had given up even coming close, I almost fell off my chair. There’s 75% of the year left! He had given up.
A sales manager who’s behind plan at 75% of his YTD revenue target, was quick to blame the economy. But what’s worse, he had no concern, no sense of urgency. Consequently, he had no contingency plan to get him back on target. He had given up.
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It is not time to concede when times are difficult…it is a time for creativity, innovation, and resolve. I’m reminded of the lessons Jim Collin’s shared in Good to Great about the importance of balancing reality and hope.
In tracking great companies, Collins found that they all faced and overcame significant adversity on their way to greatness. In every case, management teams responded with a psychological duality. They stoically accepted the brutal facts of reality. But they maintained unwavering faith in the endgame and a commitment to prevail as a great company despite the brutal facts.
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The authors coined this duality the Stockdale Paradox, named after Admiral Jim Stockdale, the highest-ranking officer in the “Hanoi Hilton” prisoner-of-war camp during the height of the Viet Nam War. During his eight-year imprisonment, he had no prisoner rights and no release date. Make no mistake, he wasn’t a cockeyed optimist who kept hanging on the hope that he would be released any day. He acknowledges that he accepted the fact that he didn’t know when and he kept telling himself to deal with it, but he never lost faith that he would be released.
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Now that’s a story of survival-one that great companies understand. I hope you’re inspired to become one of the companies to thrive despite the economic conditions rather than suffer. I’m here to help you do that. Just don’t give up! Call me at 612-267-3320 to determine whether or not we’re the right resource to help get your team back on track.
For additional insights, here’s what one of my colleagues writes about how
companies and their sales forces react differently to recession:
http://www.eyesonsales.com/archives/blog_post/companies_and_their_sales_forces_react_differently_to_recession
Discipline. Creativity. Results.
Danita
P.S. Next month, watch for part 2 of March's e-letter: Sales Workstyle Management Boosts Sales Productivity!
