Lisa Thal is an Author, Speaker, and Life Coach. She wrote the book, "Three Word Meetings" for you. A Simple Strategy to Engage, Inspire, and Empower Your Team. Lisa helps provide fun and interesting 3-word topics to get your sales team motivated and inspired. It is guaranteed to save you time and have your team more engaged during the sales meeting. Make an impact on those you lead by using 3 words.
In this episode, we discover whether it's your relationships, health, and wellness or business relationships that focusing on What's working vs Not working is a benefit to you.
Key Takeaways:
The 80-20 rule...
Lisa Thal is an Author, Speaker, and Life Coach. She wrote the book, "Three Word Meetings" for you. A Simple Strategy to Engage, Inspire, and Empower Your Team. Lisa helps provide fun and interesting 3-word topics to get your sales team motivated and inspired. It is guaranteed to save you time and have your team more engaged during the sales meeting. Make an impact on those you lead by using 3 words.
In this episode, we discover whether it's your relationships, health, and wellness or business relationships that focusing on What's working vs Not working is a benefit to you.
Key Takeaways:
The 80-20 rule is simple. In sales, This theory often is used to point out that 80% of your revenue is generated by 20% of your customers. Viewed in this way, then it might be advantageous for you to focus on the 20% of your clients that are responsible for 80% of revenues and focus your time and energy with them—to help retain these clients, and acquire new clients with similar buying patterns and characteristics. Yes, discover What is Working. What do these top revenue-generating clients have in common and find a way to attract more of them.
Review your current account list in detail. Identify the top 20% spending accounts, which we will call your key accounts. How much revenue are these accounts producing for you? For example, you have 100 active accounts, identity how many accounts generate 80% of your revenue. It could be 15-25 accounts. What is the average spend of these accounts? Are you spending the majority of your time with these accounts?
Create a game plan to focus on these accounts. How many touchpoints do you need in a week, month or year to solidify your relationship? We don't want to open any doors to our competition.
Next, look at your next level of spending accounts. These are accounts that make up the rest of your billing and income. Are there common themes with these accounts? What is their average spending on these accounts? Do they have the potential to spend at your key level? You may discover, these accounts may not have the spending ability to work with you. It may be time for you to move on from these accounts.
As you target new prospects you will be able to quickly identify do they have the same characteristics and spending potential as your current 20% accounts have.
Discover you have what it takes to be successful.
Discover what's working. What's working in your relationships, what's working for your health and fitness and whats working for your business.
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