You likely learned a ton about how to run your business by attending the School of Hard Knocks. You are likely [and justifiably] proud of making it through not only intact but looking pretty good! When it comes to the sales function however, skip school this time. If sales aren’t your passion, your results aren’t great, or you already have 1000 other things to focus on, bring on someone to steer the sales function for you and you’ll be ecstatic with the results. Here’s why…
You are Human – not a machine. Running a business is tough enough without piling on another departmental leadership function on top of that.
Revenue is the Life Blood of Your Company – If you are bootstrapping, Cash is King. If you are funded, revenue lengthens your runway. If your sales results aren’t great, that should be addressed.
Sales is Way Harder Than It Looks – Look at those guys and gals over their blabbing on the phone closing deals. What could be easier? Trying to optimize and implement a sales process requires a lot of bandwidth.
The Sales Cliff Sucks – If the sales wheel isn’t continually turned, funnels dry up quickly, and revenue falls off fast.
Your first and most obvious option is to hire a Sales Manager, or the like. This works if you a) have the money and b) are at a growth point at which this makes sense.
If you are at 2-3 sales people and revenues are trending up, then hiring this person is an investment that will likely have a great ROI. Also, hiring this person lets you work more “on” your business rather than “in” it. If, however, revenue is light at the moment it may not make financial sense to spend the dough on an FTE. The time to payback may be longer than you are willing or comfortable to wait. In this case there is another option.
That other option is to hire a consultant – just as you would for any other business function. There are sales consultancies of all stripes. Some are awesome at pumping up your team with motivational speeches. Others are great at teaching your team how to conduct highly productive sales conversations with buyers. Some work with you to optimize the steps of your sales process to increase sales velocity and deal size. On the upside whatever your need it’s likely you can get it addressed by a credible expert for far less than the cost of an FTE. On the downside if your team needs hourly/daily leading, then a consultant by design can’t fulfill this.
If Sales is a passion for you and you have the bandwidth to tend to the team and run your business as well, by all means, keep managing the sales team. Otherwise, take action now and hand the reins to an individual who can focus squarely on the task at hand and drive your revenue results.