Sharpen That Saw
Sales trends, stats, and tips to help you refocus and sharpen your saw for success in the new year
Hello friends,
In my first year of college, I landed a sweet part-time, inside sales gig selling Franklin Covey Day Planners. I loved that job and it opened my eyes to what a career in sales could look like.
But besides the free moleskin binders and heavily discounted mechanical pens, I also learned the valuable concept of Sharpening the Saw.
Found in his Best Selling book, The 7 Habits of Highly Effective People, Stephen R Covey, talks about taking time to sharpen our lives in 4 key areas: Physical, Mental, Social, Spiritual to allow us to excel in the 6 other habits successfully.
We must never become too busy sawing to take time to sharpen the saw. - Stephen R. Covey
I’m still a work in progress, but I’ve kept this mindset ever since. And although I’ve tweaked my own template as I start off the year, the premise of taking time to sharpen your saw stays. *Future post on this soon, but if interested, ask me about my B.U.I.L.D Framework and I’ll send you some thoughts
While Covey’s reference to sharpening the saw is mostly related to a renewal of self through a balance in all 4 areas, I think it pertains to us in Sales especially at the beginning of the year.
Renewal is the principle—and the process—that empowers us to move on an upward spiral of growth and change, of continuous improvement. -Covey
At the start of each year, I like to slow down and take inventory of processes, tools, strategies to really see where I can get better. Identify where I need to focus my attention or resources.
So considering the theme, this week’s edition of Stretch Weekly includes:
Sales Hacker presents The 15 Best Sales Statistics to Know in 2021
Will Barron and Victor Antonio discuss Why You MUST Challenge Your 2021 Sales Target
The Secrets to Turbocharging Sales in 2021 from SaaStr
Plus another batch of snippets to spark some thoughts or shine a light on key areas of improvement as you sharpen the saw preparing for the new year.
THANKS for reading!!
-Grant
And also, if you find this newsletter valuable- consider sharing it with someone who might as well 👊.
STRETCH SHARES
The 15 Best Sales Statistics to Know in 2021
Sales Hacker put together a statistics round-up showcasing how things changed this year and where they’re likely headed in the future. Check out the 15 most important sales statistics and actionable takeaways to get better.
A few stats that stood out to me:
40% of businesses did not meet revenue targets in 2020
61% of sales high-performers report using a CRM to automate parts of their sales process…compared to 46% of underperforming sales leaders who reported not using a CRM for their sales automation.
35% of people decide whether or not to open an email based on the subject line alone.
92% of interested buyers reply to sales reps during the 14-day window of opportunity
68% of B2B customers are lost because of indifference or perceived apathy, not because of mistakes
Why You MUST Challenge Your 2021 Sales Target
I enjoyed this episode from “This Week In Sales” podcast packed full of stats and numbers and rants by Will Barron and Victor Antonio as they discuss challenging 2021, new sales trends, and more.
Few solid discussion points:
Why you should challenge your sales target if it looks ugly for 2021. The worst thing Sales Leaders can do is sign on for unrealistic numbers. [Forrester study here]
80% of sales transactions are now happening in digital channels. How do Salespeople adapt and excel here?
A study shows that 66% of Sellers Would Rather Clean their Bathroom Than Update Their CRM System. WTF?
47% of sellers use their CRM regularly. Yikes. Why? (see above article with stats on successful sellers using 67% of the time.)
What is the "Missing Sales Metric" by C-Level Execs or Sales Leaders?
The Secrets to Turbocharging Sales in 2021
2020 has been a wild ride, but sales teams are still expected to deliver.
Hear from 3 companies (Keyfactor, Checkout.com, and Contentstack with InsightPartners) on how they delivered in a year riddled with challenges, and what those battle scars have taught them as they plan to turbocharge their sales in 2021. Walk away from this episode with the tactics and tips you and your Sales team need for the upcoming year.
Highlights:
Target the right verticals where growth is coming from
Focus on prospects with compelling events
Make sure the customer buying process is EASY!
Leverage and/or strengthen Channel partner relationships
Leverage Tech Stack (tech stack should be revamped AFTER a change in the sales process)
STRETCH SNIPPETS
🎓 Looking for something to help your team sharpen their sales chops? Check out this B2B Sales Masterclass on People-Focused Selling from Kevin "KD" Dorsey. *no affiliation - I purchased it and recommend you do too.
👉 Jeff and Jen Gitomer talk about the importance of reflection to create your 2021 plan. [podcast]
🙊 Sharpen that vocabulary! LOVED this article from Jeff Haden @ Inc.com on 11 Common Words and Phrases People Use but Rarely Ever Mean.
📣 Super nice of Sam Nelson - SDR Leader at Outreach - to compile a directory of his 2020 Live Recordings for our use and training. Bookmark this one folks.
⛏ Sahil Mansuri talks about sharpening your own axe to set yourself up for future success.
🎧 Jeremey Donovan gives us the Best B2B Sales Podcasts for 2021 - ranked with data.
📈 Sales Hacker presents Beyond Quota - a virtual SKO on Jan 26th to help hone your selling skills, prepare sales leaders towards greatness and pump you up with a winning mindset.
💔 Breaking up is hard to do. Thankfully, Steli Efti - CEO of Close walks us through how to write an effective breakup email.
🧠 Mindset
George Kittle on working with a sport psychologist and the mental reset he's developed to focus and channel his energy on the field. [courtesy of Zach Brandon]
Thanks for reading!
My hope is if you find this valuable, consider sharing it with friends (or signing up if you haven’t already).
— Grant 👋
About stretch vp: confessions, learnings, and insights from sales leaders in SaaS
Compiled and aggregated from a network of sales leaders in SaaS, Stretch VP showcases learnings, insights, and experiences as well as best practices to overcome common hurdles, obstacles, and setbacks in your quest for excellence as a sales leader in SaaS.
Are you a VP, Director, thought leader, or content producer in the SaaS space? We’d love to have you contribute. Contact Me HERE.
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