Most of us find it hard to every day go into business development mode and yet, we know it’s a vital part of our success. No one enjoys rejection and yet, when undertaking business development, there is usually a high degree of “No” for every “Yes”. The key though is to keep at it consistently, making your contact
target every day.
One way that really works is to turn every rejection into something positive! But first you have to know your statistics, such as your average sale and the number of customer calls needed per sale.
Let’s say my average sales is worth $125 of commission directly to me. Let’s also say, on average, if I make 50 sales calls, I will make 5 sales. The calculation then is, if I make 5 sales:
5 x $125 = $625 – so I earn $625 for every 50 makes I make. Now, if I divide $625 by 50 = $12.50.
So, that means every call I make (whether successful or not) is worth $12.50 to me!
Yay! Even when I get a rejection, I will think that it’s great because I earned another $12.50!
Thinking this way really changes the way you now perceive rejection! You actually earn money every time someone says no!
Work out your own performance your figures sample
1. Average earning per sale $ $125
2. Ratio of successful sales to calls made in 5 in 50
3. Now multiply successful sales by earnings. * 5 * $125
4. Total earnings = $625
5. Divide your total earnings by the number of calls made $625/50
This is your average earn for every call made = $12.50
Business Development works a bit like Gary Player the famous golfer who once said:
“….. it’s funny the more I practice, the luckier I get.”