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Achieving Sales Quota: The Key to Sales Success

Updated: Aug 13


Business handshake cements the agreement for a closed sale.
A handshake between two business professionals finalizes an important agreement, with documents and devices on the table signifying a successful negotiation.

The Importance of Quota in Sales


For sales professionals, achieving quota is paramount. Building customer relationships is essential, and providing excellent service is wonderful. Being a trusted and knowledgeable resource is impressive. However, without delivering your quota, long-term success in a sales career is unattainable.


According to recent articles in Forbes, Harvard Business Review, and CSO Insights (the research division of Miller Heiman Group), between 46% and 57% of sales professionals underachieve their quota. Websites such as Repview.com provide detailed statistics. By doing a little research, we can see that many organizations have collective quota attainments that are well below even these sobering averages.


The Consequences of Missing Quota


When quota is not achieved, the variable portion of the compensation program is minimized or missed altogether. This costs sales professionals many thousands, and even tens of thousands of dollars every year. The negative impact then carries into the annual review period. Annual review scores are lower, as are the annual raises that follow (if at all). Missing quota also hampers career growth. Eventually, failure to deliver the assigned quota results in a Performance Improvement Plan and then an exit from the organization.


It’s surprising how rarely sales professionals receive training on how to consistently achieve their quota. Knowing how to achieve quota requires:


  • Goal setting

  • An understanding of sales reports, including revenue patterns and trends analysis

  • Business acumen

  • Awareness of internal and external forces that can impact product or service sales

  • Knowing the competitive landscape

  • Leveraging professional skills, strategies, and tactics—in short, knowing how to create and execute a strategic plan.


The Need for Strategic Planning


Sales professionals are rarely taught how to build strategic plans. Unsurprisingly, very few create a strategic plan of their own accord. When surveyed, CEOs, sales leaders, and sales professionals all identified "lack of a plan" as the major reason why sales representatives miss their quota. Shouldn't knowing how to build a strategic plan be prioritized?


Can you imagine a professional sports team going into a game without a game plan? They would be set up for failure. Similarly, sales professionals without a strategic plan want to "win" and work hard to do so. But statistics say only half of all sales professionals will achieve their quota.


Resources for Success


Sales professionals who want to create a new paradigm for their professional performance can do so by creating and executing a strategic sales plan. When the strategic plan is completed, review it with sales leadership and enlist their help and guidance as a true partnership to ensure success.


For those who have not created a strategic sales plan, or would like to improve upon what they have done in the past, I can help! Resources for creating an effective strategic plan are available through Onarecker Consulting, Inc., along with sales coaching, if desired.


Take meaningful steps on a new path to consistent quota attainment. This will lead to greater income, enjoyment, and success as a sales professional.


Do you want to complete a short self-assessment? Use this document:


Building Your Strategic Plan


Creating a strategic plan involves several steps. Here’s how to get started:


  1. Define Your Goals: Clearly outline what you want to achieve. This could be a specific sales target or a broader objective.

  2. Analyze Your Territory's Performance and Revenue Trends: By understanding the trends and patterns in your territory, you can anticipate challenges, plan effectively, and seize opportunities.


  3. Assess Your Skills: Identify your strengths and weaknesses. This self-awareness will guide your development efforts.


  4. Research Your Competition: Knowing who your competitors are and what they offer will help you position your product or service effectively.


  5. Develop Your Strategies and Tactics: Create actionable strategies and daily actions that will enable you to reach your goals.


  6. Monitor Your Progress: Identify your Key Performance Indicators (KPIs) that serve as mileposts on your road to success. Regularly review your plan, KPIs, and YTD results. Make any adjustments as necessary. Flexibility is key to adapting to changing circumstances.


Conclusion


Achieving quota is essential for sales professionals. It affects not only income but also career advancement. By understanding the importance of strategic planning and utilizing available resources, sales professionals can enhance their performance. This proactive approach will lead to consistent quota attainment and ultimately, greater success in their careers.


Remember, the path to achieving your sales goals starts with a solid plan. Embrace the resources available to you, and take charge of your professional journey.


Want to take a short self-assessment? Download and complete this document:


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