When an Olympic swimmer is in front of the yellow line they’re in a position to break the world record. The same is true inside of your business, and in my Growth, Leadership, and Management Tip this month I’ll explain simple numbers, big results, and how that relates to you.
Let’s start with a “report card” for your productivity. Divide your total annual sales volume by the number of salespeople inside of your team. You’ll likely get a number around 1.5 transactions per month, per person. That may seem low, but remember that average is affected by new people who aren’t as productive yet.
Now, what if you could boost productivity to 2 transactions per person per month? Again, that may not seem like much, but it can actually represent around a 33% increase in total sales volume. What I’m doing in executive coaching is doing that report card on a rolling 12 months of what each agent is achieving. We look at average sale price, volume, fee, and annual leave days taken. Then have one-on-one conversations with each agent around their report cards and get really intentional with them about success.
For me, the most important thing you can do to drive volume, performance and productivity of your sales team is to track the number of listings each week. Just like that Olympic swimmer, you want to be a quarter of the way to your goal by a quarter of the way through the month – halfway through the month, halfway through the target – three quarters of the way through the month, three quarters of the way through the target. Simple numbers, big results that you can see and work with.
You have to be willing to have the hard conversations. Call people out on poor performance, and reward those who are highly successful. Being that brave and bold leader is the way you’ll increase the productivity of your people.
I hope you’ve enjoyed this month’s Growth, Leadership, and Management Tip, and I look forward to seeing you here again next week.