Jeb Blount provides tips on getting the most from your scarce resources.
Few people in today’s economy are not feeling the pinch from high fuel costs. This is especially true for outside sales professionals - even if your company is paying a portion of your fuel bill. This week we will explore how to reduce costs and improve your income through time and territory management.
Time and territory management is best defined as “getting the most out of your sales day by planning the most efficient use of scarce resources.” Each year my team at SalesGravy.com is hired by companies and sales organizations to teach Sales Professionals how to better manage their time and territories. The reason that these companies are willing to invest in this training is simple. They realize that the one constant in every salesperson’s life is time. Time for prospecting, time for sales calls, time for demonstrations, time for tours, time for closing, and unfortunately time for administrative tasks and paperwork. Of course, time is the great equalizer. Every Sales Professional has exactly 24 hours each day and there are only a handful of these hours that are available for selling. It is how you use these sales Golden Hours that is often the difference between success and failure.
The benefits of effective time and territory management are many, including: less stress and worry, lower expenses, a healthier pipeline, account growth, more sales, a higher income, and more time to spend with your family. Simply put, when you master time and territory management you are happier, healthier, and you make more money.
There are five keys to effective time and territory management.
Adopt a CEO Mindset which means taking complete ownership and accountability for your territory.
Analyze Prospect and Account Data to understand account distribution, size and profitability.
Create a Territory Map which organizes your territory by day and prospect distribution.
Leverage Tools to Organize Your Time.
Implement a Time and Territory Plan which is a strategic and tactical plan for managing your territory.
In Episode 7 we explored the CEO mindset, which is the most critical component of time and territory management. Unless and until you are willing to accept complete responsibility for managing your territory, nothing else matters.