So you got into sales to make money. After all, that’s why we ALL get into sales. To make money!
As far as I know, no small child stands up in class and says “when I grow up, I wanna be a salesman” Usually they say “I wanna be a doctor, a police officer, a teacher, etc” Sales is something that becomes an option later on in life. Children want to model their life after the heroes they see in movies, on TV and read books about. The movies and TV coverage you usually see about salespeople are very negative. Think of Wolf of Wall St, Boiler Room, or Wall Street. These are all movies that make salespeople out to look bad, like thieves.
When we grow up though, we realize sales is one of the only industries you can get a job in that doesn’t require a college degree (can you say debt?) or a high score on your SAT. All it takes to make BIG money in sales, is finesse, a little know-how, and hard work. I truly believe anyone can become great at sales, as long as they work hard.
That being said, it’s no secret that many people who work in sales, don’t make the big money they dream of. They end up settling for small money, long hours, and a shit-ton of frustration. If that’s you, don’t give up on your career in sales just yet, keep reading, and I’ll tell you how to finally break through the 6 figure glass ceiling.
The first thing you need to know about making money in anything, not just sales, is to know your numbers. What gets measured gets improved, and if you don’t measure your numbers, or even know your numbers, you can’t improve them.
Now I know many of the famous sales trainers will tell you to 10X your goals. I’m going to tell you to do the opposite. If you want to make $100k in sales, and you set your goal 10X that at $1M, you’re only going to be 10X disappointed when you don’t hit the original number because you over-shot it.
That being said, the easiest numbers to know, are the numbers you need to hit every day. Set your goal for the year at $100k and then let’s break that down to what you need to make daily, so you can focus on the bite-sized number that you are comfortable with hitting. Make sense?
Your First $100,000 Year Working In Sales
To make $100,000 in sales in 12 months you need to earn just $274 per day. Most of us have had $274 in our wallet at some point, so it’s a small enough number to be able to understand, touch, and believe in.
Once you know your number, $274 in this case, you need to find out how many sales you need to close per day to hit that number. Let’s say you sell a product that pays you $500 per sale. That means you need to make 1.25 sales per day on average, 365 days per year, in order to hit your goal. BUT, if you only work Monday through Friday you need to take 104 days out of your math equation making the total you need to hit a daily income of $383.
In order to hit your numbers, you need to know the REAL number. After all, if you only work 5 days a week and you focus on making $274 each day, you’ll fall short of your goal and be disappointed yet again.
Now you know you need to hit $383 per day and you make $500 per sale, that’s roughly 1.125 sales per day.
The next number you need to know is how many contacts you need to make daily in order to close a sale. Let’s say you have a 10% closing ratio. That means you need to make 10 contacts a day to close 1 sale per day.
Now the next step after that is figuring out how and where those 10 contacts aka leads, are going to come from.
Will they come from cold calls?
Will they come from social media?
Will they come from email blasts?
Will they come from walk-ins?
You Must Know The Source Of Your Leads, So You Can Get Your Numbers Right.
Let’s say you need 10 deals a day. One of those deals can come from social media. This could be a post you make, a group you are a part of, or even sliding into someone’s DMs. Now you need to find out where the other nine are going to come from. Can you hit up past clients for referrals?
That may lead to another contact per day. Maybe you do cold calling or door knocking. In this case, you’d need to cold call or door knock 8 people per day to maintain your numbers and get them right.
If you’re not getting leads and you don’t know how to get leads, you’re in trouble. The easiest way to get leads that I know of is from social media posts using a sales funnel. A sales funnel is a series of websites designed to capture the prospect’s information. The easiest way to get a sales funnel set up is with PhoneSite https://phonesites.com/closer you can click that link and get a 14-day free trial.
Now, Back To Your Numbers And Hitting Your Goal
What happens when you don’t get your 10 people per day? Well, as long as you made a sale, you’re good. If you didn’t make a sale, you shouldn’t stop working for the day until you do. Stay focused, know your numbers, and fall in love with the process, not the result.
When you stay married to the process, the results eventually show up. In most cases, people who focus on daily numbers and stick to hitting them, end up surpassing their $100,000 per year goal and really get into big money. Which after all, is the reason you got into sales.
Now that you see how easy it is to hit your numbers and the work required to do so is done, there’s nothing to it, but to do it. So get to work. It’s now time for you to get your own numbers lined out and make them a reality.