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Streamline your sales - Syed Asad Hussain

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Syed Asad Hussain
Syed Asad Hussain

Streamline your inbound sales efforts to maximize growth and scalability in your sales team. With the help of sales velocity you can increase your sales by over 140%.

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Streamline your sales Syed Asad Hussain syed@hustlex.io
Evolution > Revolution - There is no one size fits all solution - And there is no magic bullet to solve all your pain points - Listen to advice but tweak it according to your situation
Why is Sales Velocity so important? In a nutshell, sales velocity shows how quickly leads are moving through your pipeline and inadvertently how fast youre making money. The less time it will take prospects to go through your pipeline, the faster you will close deals.
There are only four factors that impact how much you sell 1. The number of sales opportunities you work on 2. The average deal value 3. Your win rate 4. And the length of the sales cycle And thats the Sales Velocity Equation!
Sales Velocity Equation A B C D
In laymans terms: you want to increase A, B and C and reduce D To give you an example: If you manage to increase A, B and C by 10% and reduce D by 10%, then you increase your sales velocity by 48%
Have a look at this
Lets take a look at some real (made up) numbers Say your business has: - 100 opportunities - An average win rate of 25% - Average deal size is $5000 - And the sales cycle lasts around 90 days Lets calculate the sales velocity of your business
Streamline your sales - Syed Asad Hussain
Conclusion So $1388 is your sales velocity. Which means youre roughly bringing in that much revenue every day. With this information at hand, you can either increase the numerator(which in this case is $125,000) or decrease the denominator (90 days) or both if possible.
Why the equation matters? 1. Its a powerful way to gauge the health of your sales team 2. There is no BS involved, its all a numbers game 3. You can pick any one of those functions, try and improve, the results will show up instantaneously 4. Easy to benchmark against other teams 5. Helps you forecast your sales more accurately and optimize for the future
How to increase your sales velocity? There are numbers of ways you can increase your sales velocity and they primarily fall in these categories: - Improve your conversion rate - Optimize the deal size - Shorten your sales cycle
How to Improve your conversion rate?
Always qualify your leads Pro tip: never get too excited but try and learn more about their pain points. Try and stay away from the BANT qualification process and be more human.
Unclog your pipeline Remove clutter from your pipeline, only create opportunities from leads you know are fully qualified and there is a mutual fit.
Analyze your pipeline for leaks that need patching Where are the conversions dropping? Where are prospects going silent? Going silent is the worst, you spend time and energy building that relationship and if you dont learn anything from it, is just devastating and time lost.
Be honest with yourself about where you stand The first step of solving a problem is realizing there is one, be honest when you evaluate your performance and keep track of the KPIs and look for trends Pro tip: a simple spreadsheet with OKRs and KPIs will suffice
How to optimize the deal size?
Improve understanding of your prospects business Always try and understand the prospects need and their business challenges, so you dont leave additional money on the table
Cross Selling Sure, they came to your website because they were interested in one aspect of your toolset but that does not mean that wont get any benefit from other aspects of your tool.
Offer strategic discounts Where applicable, offer a strategic discount. Pro tip: Be careful while offering discounts, offer them if you firmly believe that 10%(or whatever number) discount will be the difference between yes or no.
How to shorten your sales cycle?
Try and breakdown the sales process Look for bottlenecks in your sales process, that means breaking it down and reviewing where is the drop off or where the prospects are stalling or going silent?
Automate (where you can)! If you can automate a follow-up and avoid delays, why not? Pro tip: Do not automate in the case of enterprise deals and never send an automated email with adding clear value to the prospect and having a well defined Call to action.
Keep qualifying the prospects Always keep qualifying. Qualification should be done all the way down to the point when a prospect becomes a customer. Pro tip: Always stay on top of the deals/opps, keep in touch with them and get regular updates about the progress or in case of trials closely monitor their activity.
Bottom Line If you ignore sales velocity and blindly focus on keeping your pipeline full, youll have tons of leads but not enough resources to move them through the pipeline and convert and that will hurt you bottom of the funnel However, once you start measuring sales velocity, youll have the data and insights necessary to optimize your sales process from start to finish.
Change wont happen overnight Dont go guns blazing, create a plan and then execute it one step at a time. If something doesnt work, go back to the drawing board, tweak it and go at it again. Do not give up!
Closing points Outbound sales works. It works only if done correctly and with a process in places. DONT create email campaigns and use the spray and pray technique. Have a system, very seldom do we lose a prospect because we are not using a particular tool, Its all about the process you have in place and execution.
Dont masturbate to ideas in the head Dont read books/attend conferences for the sake of it. Don't know something, first figure out what your pain point is, then research and find resources that can help you get educated on that particular subject. Lastly, Execute. Re-iterate and get at it again. Fail forward. Go out and do it, it will make for one heck of a story either way!
Thank you!

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Streamline your sales - Syed Asad Hussain

  • 1. Streamline your sales Syed Asad Hussain syed@hustlex.io
  • 2. Evolution > Revolution - There is no one size fits all solution - And there is no magic bullet to solve all your pain points - Listen to advice but tweak it according to your situation
  • 3. Why is Sales Velocity so important? In a nutshell, sales velocity shows how quickly leads are moving through your pipeline and inadvertently how fast youre making money. The less time it will take prospects to go through your pipeline, the faster you will close deals.
  • 4. There are only four factors that impact how much you sell 1. The number of sales opportunities you work on 2. The average deal value 3. Your win rate 4. And the length of the sales cycle And thats the Sales Velocity Equation!
  • 6. In laymans terms: you want to increase A, B and C and reduce D To give you an example: If you manage to increase A, B and C by 10% and reduce D by 10%, then you increase your sales velocity by 48%
  • 7. Have a look at this
  • 8. Lets take a look at some real (made up) numbers Say your business has: - 100 opportunities - An average win rate of 25% - Average deal size is $5000 - And the sales cycle lasts around 90 days Lets calculate the sales velocity of your business
  • 10. Conclusion So $1388 is your sales velocity. Which means youre roughly bringing in that much revenue every day. With this information at hand, you can either increase the numerator(which in this case is $125,000) or decrease the denominator (90 days) or both if possible.
  • 11. Why the equation matters? 1. Its a powerful way to gauge the health of your sales team 2. There is no BS involved, its all a numbers game 3. You can pick any one of those functions, try and improve, the results will show up instantaneously 4. Easy to benchmark against other teams 5. Helps you forecast your sales more accurately and optimize for the future
  • 12. How to increase your sales velocity? There are numbers of ways you can increase your sales velocity and they primarily fall in these categories: - Improve your conversion rate - Optimize the deal size - Shorten your sales cycle
  • 13. How to Improve your conversion rate?
  • 14. Always qualify your leads Pro tip: never get too excited but try and learn more about their pain points. Try and stay away from the BANT qualification process and be more human.
  • 15. Unclog your pipeline Remove clutter from your pipeline, only create opportunities from leads you know are fully qualified and there is a mutual fit.
  • 16. Analyze your pipeline for leaks that need patching Where are the conversions dropping? Where are prospects going silent? Going silent is the worst, you spend time and energy building that relationship and if you dont learn anything from it, is just devastating and time lost.
  • 17. Be honest with yourself about where you stand The first step of solving a problem is realizing there is one, be honest when you evaluate your performance and keep track of the KPIs and look for trends Pro tip: a simple spreadsheet with OKRs and KPIs will suffice
  • 18. How to optimize the deal size?
  • 19. Improve understanding of your prospects business Always try and understand the prospects need and their business challenges, so you dont leave additional money on the table
  • 20. Cross Selling Sure, they came to your website because they were interested in one aspect of your toolset but that does not mean that wont get any benefit from other aspects of your tool.
  • 21. Offer strategic discounts Where applicable, offer a strategic discount. Pro tip: Be careful while offering discounts, offer them if you firmly believe that 10%(or whatever number) discount will be the difference between yes or no.
  • 22. How to shorten your sales cycle?
  • 23. Try and breakdown the sales process Look for bottlenecks in your sales process, that means breaking it down and reviewing where is the drop off or where the prospects are stalling or going silent?
  • 24. Automate (where you can)! If you can automate a follow-up and avoid delays, why not? Pro tip: Do not automate in the case of enterprise deals and never send an automated email with adding clear value to the prospect and having a well defined Call to action.
  • 25. Keep qualifying the prospects Always keep qualifying. Qualification should be done all the way down to the point when a prospect becomes a customer. Pro tip: Always stay on top of the deals/opps, keep in touch with them and get regular updates about the progress or in case of trials closely monitor their activity.
  • 26. Bottom Line If you ignore sales velocity and blindly focus on keeping your pipeline full, youll have tons of leads but not enough resources to move them through the pipeline and convert and that will hurt you bottom of the funnel However, once you start measuring sales velocity, youll have the data and insights necessary to optimize your sales process from start to finish.
  • 27. Change wont happen overnight Dont go guns blazing, create a plan and then execute it one step at a time. If something doesnt work, go back to the drawing board, tweak it and go at it again. Do not give up!
  • 28. Closing points Outbound sales works. It works only if done correctly and with a process in places. DONT create email campaigns and use the spray and pray technique. Have a system, very seldom do we lose a prospect because we are not using a particular tool, Its all about the process you have in place and execution.
  • 29. Dont masturbate to ideas in the head Dont read books/attend conferences for the sake of it. Don't know something, first figure out what your pain point is, then research and find resources that can help you get educated on that particular subject. Lastly, Execute. Re-iterate and get at it again. Fail forward. Go out and do it, it will make for one heck of a story either way!

Editor's Notes

  • #8: A salesperson should try and Increase the factors above the line and decrease the factors below the line.
  • #29: So many companies promoting they are pioneers and they care about their, well their sales ethics should reflect the company values so brazenly being promoted.