The holiday ham has been put away. The Christmas gifts have all been shoved back in the closet. The kids have returned to school. The holiday fun is over. While our non-revenue generating friends were busy unwrapping their boxes and bags, our tribe was unwrapping a gift of another type, “The Annual Quota.” Just like the other kids, we had been focused on, and anticipating, what was inside the box. We knew it was some variation of another year-over-year increase. We just didn’t know how big. And now we know. The wrapping paper of uncertainty has been removed. The contents out in the open. For some, it may have brought a sigh of relief, but for many, it set the stage for a challenging year ahead.
The legendary Vince Lombardi once said, “The price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand.” Vince was a heck of a football coach but I wouldn’t recommend you using that quote when it comes time to talk to your boss about the upcoming 2015 Newly Revised – Ever Increasing – More Impossible Than Last Year – Quota. “Hey boss. About that quota thing; the way I see it is that if I work hard, dedicate myself and am really, really determined but don’t make the number, well, that’s ok.” Anybody want to try that one? I didn’t think so.
Before we get into specifics on how to prepare to hit your new numbers, let’s look at the positive side of quotas. First, there are some nice economics tied to the destination. Sell more, earn more. Enough said. Yes, your variable may have changed slightly and yes, you may have to sell a little more in the new year just to earn the same amount as the previous year, but it’s pretty likely that when you deliver your full bucket of sales, you will bring home more bacon. Second, you know exactly what your job requirement is for the year. No overly subjective performance reviews. No questions about, “Am I doing a good job or not.” Post the number. Keep it ethical. Provide incredible service to your customers (one of the main factors in making the number). And work hard, probably harder than anyone else.
The Quota Number is going to be coming your way. It is inevitable. I recall some years ago, back in another life, just how much time was spent talking about the number…. Worrying about the number… Coming up with reasons that the number was impossible… In other words, wasting a lot of time. And worse, spending time focused on why something couldn’t be done vs. figuring out a way to get it done. When you are stuck in the mud of negativity, you can only look down. Change your view to gaze at what’s possible, then you quit staring at your stuck feet and start moving forward again.
To help look forward, I spend a couple of days during the holiday season developing my action plan for the following year. The more I have in the pipeline, the less time I need to spend planning, I just need to get working. If you aren’t used to doing an Annual Success Plan, here are some things you may want to consider:
Here are the top 5 things you can do to make your new 2015 quota:
- Review your pipeline. Come on now, this isn’t your “Wish List” of deals that would be nice for Santa to deliver to you, this needs to be based in reality. Here is a great tip for scrubbing your pipeline: Ask yourself, “Would you stake your future on what you say is in your pipeline?” Oh, wait, you have. Maybe some scrubbing needs to be done. Now for the Pipeline Equation (PE): Total dollars in the pipeline times the likelihood of close times 60%. Why 60%? Because either your likelihood of close–or–the anticipated dollars are off. And if they aren’t, then you just hit quota earlier in the year and that’s ok too.
- Review current sales and customers. How much is at risk? Put real numbers to this. Look at your 20% of the accounts that do 80% of the revenue and put some probability of loss in there. Sure, the number is a guess and it will be wrong but you have to develop a mindset that recognizes some business will be lost or reduced, that’s just the way it is. And again, if it turns out better than you project, well, that’s a nice upside.
- Determine the variance between your quota and the combination of pipeline plus net existing business. I know, it’s scary but it will be ok. Just breathe.
- Determine how many new opportunities you need to add during the year. Remember, every day, week, month, the number goes up due to time being used up.
- Get off your butt and go to work.
Remember, attaining quota, being successful; these are not “events” but adventures in a journey. Success doesn’t happen in an instant and it won’t happen without planning and effort. Some days are tougher than others. Keep in mind the words of Albert Einstein, the great bagel guy, “Success is not final, failure is not fatal: it is the courage to continue that counts.” Be courageous and laugh at that quota. Then go out and blow it away.
