Sales Momentum and the Law of Expectation

If your teams fail at the week, they’re going to fail at the month.

If they fail at too many months, they fail at the quarter and eventually fail at the year.

This is especially true of sales teams.

At The Wealthy Consultant, we’ve learned to teach our leaders and team players how to navigate through the normal challenges and difficulties in business, so that results come consistently.

There’s a dangerous and unhealthy identity culture that we’ve seen creep into teams time and time again, which only proves to shatter effectiveness.

You can tell that people have it because they’re really happy when the business has a good month, and really unhappy when it has a bad month.

This is like a disease. It’s super dangerous. Do not tolerate this. Not in yourself, or others on your team.

We have to disconnect from this. This is called the law of expectation.

In a healthy business, leaders must learn to expect that there will be challenges and difficulties.

If we expect that next month is going to be a battle, then we’re not going to be disappointed when we’re in the middle of the battle.

To demonstrate this, I want you to think of a game of chess as representing a yearly goal.

Your weeks are your pawns. Your months are your knights. Your quarters are your queens. And your years are your kings.

Let’s say your goal is to earn 3 million dollars per year.

To determine your weekly goal (or pawn), take 3 million and divide it by 52. (You get roughly $58,000.)

So a week for you needs to generate $58,000. (And it needs to generate 29 sales calls to reach that revenue target in closed deals, based on your close rate.)

So, a pawn for you is 29 calls.

Now, let’s say you convert conversations into calls at a 10% rate of conversion. (10 conversations generate 1 call.)

You need 290 conversations per week to generate 29 calls. That means your setters, or SDRs (sales development representatives), collectively need 58 conversations per weekday to generate 29 calls.

Let’s say that a trained SDR can effectively generate 15 conversations per day. (Assuming they make 150 outbound calls per day with a 10% connect rate, which is about average.)

Now, how many SDRs do you need to hit 58 conversations per weekday? Divide 58 by 15 = 3.86. Round up to 4. (Then, add 1 more to give yourself a hedge.)

So, 5 SDRs = 58 conversations per weekday = 29 calls per week = $58,000 generated for the week.

You’ve got to learn to think, teach, behave, and set strategy by taking the macro and turning it into the micro.

You can ask yourself, “Where do I want to be three years from now?”

You can get there by dividing three years into one year.

Then, divide that one year into 52 weeks, so that we can work out all the way back down.

You might ask yourself, “What’s the point of doing a bunch of numbers if you’re going to break?”

Answer: You’re going to break every time.

If you ever prevent breaking anything, it means you decided to be a monk and move somewhere where there’s no internet.

You’re breaking something, no matter what. The question is, “How quickly can I fix it?”

Our leadership team has seen and known every single step, and every single choke point within business up to about $35 million per year, and we’re still breaking stuff.

There is no way around breaking stuff. But, the best way to avoid breaking things is to understand the different pitfalls you’re going to come up against, how to sell well, and how to manage a team of salespeople.

Fortunately for you, we’re hosting an upcoming live workshop on this subject: the art of ethical salesmanship, from one of the pioneers of online sales techniques, Taylor Welch.

During this hour, we’ll cover:

• How to prevent your prospect’s objections before they ever have a chance to come up
• “Mimetic Influence” and how you can leverage a basic psychological pattern to generate action
• Time maximization for salespeople

It’s coming up on August 9, 2023, at 9:00 A.M. CST.

You can register now to join us!