In sales, this is how we motivate and inspire our underlings to sell more!
First, we track ask them to track their sales performance.
For eg, how many customers they approached per day, how many of them turned into sales that day.
We will then get their closing ratio.
A sales person may score 1:10 - meaning for every 10 customers he applied his snake oil sales pitch on; 1 turned into kaching $$$!
Work harder
Want to double your income? Prospect and approach 20 potential customers per day!
Work smarter
What? You want work/life balance? You didn't join sales so you can work 15 hours a day?
But you still love the money... How?
Ah! This is where craftsmanship comes in!
Improve your prospecting and sales closing skills so you improve your closing ratio to 1:5. Wink.
This salesperson I must keep an eye on
Without prompting from me, if a salesperson does both - instead of debating whether working harder or smarter is better - this one got potential!!!
Will survive in this line.
But also must "guard" against as if he's too good, he could be a future competitor to my job...
Now why would anyone train someone who could be a future competitor?
Overriding commissions.
If I don't benefit from each and every sales my underlings make, you think I so free or so altruistic meh?
Can apply to Trading?
If you want to double your trading profits, how would you proceed?
Or maybe I make it easier for those of you never worked in sales but have been trading for some time.
Can you spot which trading techniques/styles belong to the "Work harder" and "Work smarter" categories?
Have fun!
Singapore Man of Leisure (welcome to my blog; just google it!)
