Often, when we talk about sales techniques, we explore concepts like “closing techniques” or “overcoming objections.” And while these are incredibly important for sales success, there’s a foundational skill that has an even greater impact on your ability to thrive in sales: time management.
As a salesperson or sales manager, you know that your time is your most precious resource – but you likely also have experienced that feeling that there simply aren’t enough hours in the day to get it all done. By learning how to effectively manage your time and start making the most of every minute, you ultimately learn how to maximize your earning ability (and continually make more money!).
What’s the 80/20 Rule?
The 80/20 Rule says that 20% of your activities will account for 80% of your results. Stop and think about that for a moment. This means it’s incredibly likely that more than three-quarters of your time is spent on tasks that deliver minimal results. Now, imagine if you could break free and spend more of your time on the things that really matter.
Here are some examples of how the 80/20 Rule applies to sales:
- 20% of your prospects will account for 80% of your customers.
- 20% of your customers will account for 80% of your sales.
- 20% of your products and services will account for 80% your sales volume, etc.
Brian Tracy often says, “the inability to focus on the top 20% is the primary reason for failure, frustration and underachievement in the sales profession.” So, imagine the impact you could have if you identified the 20% and focused your energy on those things that would really make a difference.
Implementation: Sales techniques are only effective when put into action. So – to implement the 80/20 Rule, start by making a list every morning (before you dive into your work). Organize that by the 80/20 Rule concept, prioritizing the most lucrative and important tasks. Stick with the top 20% until they’re complete.
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At FocalPoint Canada, we guide our clients in overcoming challenges and leveraging opportunities with proven processes and methodologies that have been used by thousands of successful businesses over the past two decades. Our FocalPoint business coaches use their expertise to teach our time-tested methods through individual coaching, group sessions, or trainings and workshops.
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