Leak #20: Overlooking Professional Standards – Leaking Profits: Article 23

In simplest terms, a standard is a mutually agreed way of doing something. Do you set standards in your business? Have you communicated your high standards for behavior and performance to your team?

Be creating these standards for your business, you stem the flow of leaking profits.

Always perform monthly written reviews. Reviews are what the term implies. You review and evaluate the activities and results of the previous month, or quarterly goals based upon activities. It’s a time to inspect the salesperson’s pledge to their business plan. At the end of the review, the salesperson should sign off to indicate they have read, understand, and agree to the review.

Do you monitor their results and hold them accountable? Not doing this will cost you in several areas:

Sales – Are they hitting their goals? By adhering to a predetermined sales process you have benchmarks to make sure they are hitting their goals.

Customer Satisfaction – Are they hitting their goals, but at the cost of happy customers?

Attitude – Are they encouragers and energizers, or just hanging in there?

BOTTOM LINE: If you expect your team to adhere to professional standards, you need to establish, communicate, and monitor them.

By plugging holes we’ve discussed such as setting up proper CRM systems, having online sales counselors, doing proper training and hiring, examining your marketing targets, looking at your sales process, striving to surpass industry standards, and taking into account a whole slew of other leaking profits, you will set your team up for success and give them the tools to hit their goals.

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