In our recent Road To Inbound chat, I had the pleasure of speaking with Lori Richardson, the dynamic president of Women's Sales Pros and Score More Sales and the award-winning author of "She Sells." We shared our proven strategies, such as effective revenue planning and data-driven hiring, for sales leaders, business owners, and entrepreneurs.
If you're ready to make next year your most successful year yet, this is the insight you've been waiting for. With our shared strategies, you can skyrocket your revenue, close out this year with a bang, and kickstart the upcoming year with unstoppable momentum.
Avoiding these Common missteps
As sales leaders prepare for the upcoming year, developing a robust revenue strategy is a critical aspect of their role. However, even seasoned professionals can fall into common traps that hinder their progress. In a recent conversation with Lori Richardson, we delved into the biggest mistakes sales leaders make and how they can avoid them.
The Dangers of Unrealistic Quotas
One of the most significant issues Lori highlighted is the tendency for sales leaders to set quotas that must be grounded in reality. Often, these targets are driven by pressure from shareholders or top executives, leading to numbers that sound impressive but are far from achievable. This not only sets teams up for failure but also damages morale, as salespeople feel like they've been set up to lose.
The Cost of a Bad Hire
Hiring mistakes can be costly financially and in terms of team morale. Lori pointed out that many sales leaders continue to rely on gut feelings or outdated personality assessments to make hiring decisions. This approach often results in a poor fit, leading to turnover and the associated costs. In fact, the cost of a bad sales hire can reach into the millions, especially in industries with long sales cycles and high average order values.
Predictability in Hiring
To combat these issues, Lori emphasized the importance of a predictable hiring process. This process involves using data-driven methods and tools to ensure they bring in the right people for the right roles, reducing the need to hire a 'buffer' of extra staff, which was common in the past when turnover was expected.
Addressing Unconscious Bias
Another critical point Lori brought up is the role of unconscious bias in hiring.
Unconscious bias is when we have a bias towards people, either on how they look or how they sound, and that our bias is more inclined to be 'are they like me?' And so we're looking for people that we like, people that are like us. - Lori Richardson
This bias can lead many leaders to unknowingly favor candidates who look or sound like them, which can limit diversity and, ultimately, innovation. Lori noted that this bias can be particularly detrimental in sales, where different perspectives are invaluable. Companies that fail to address unconscious bias in their hiring process miss out on the opportunity to build a truly innovative and effective sales team.
Watch the replay!
The Role of Women in Sales
The conversation also touched on the underrepresentation of women in sales, particularly in leadership roles. Lori argued that more women in sales leadership would not only bring about greater gender diversity but also contribute to changing the perception of sales as a profession. This is crucial for attracting a broader range of talent and ultimately improving sales performance.
If we're just as good as men in sales, why aren't half of our sales teams female? Why aren't half of our sales leaders women? ... We need to change to normalize the fact that women are in sales and it's not a big deal -Lori Richardson
Crafting Effective Job Postings
Finally, we discussed the importance of crafting job postings that attract the right candidates. Lori advised against using overly long lists of qualifications, which can discourage potential applicants, particularly women, who may feel they don't meet every criterion. Instead, job postings should be concise, focus on the strengths required for the role, and clearly state the pay scale to avoid wasting candidates' time.
As sales leaders look ahead to the upcoming year, avoiding these common missteps will be crucial. They can build stronger, more effective teams and drive better results by setting realistic quotas, making data-driven hiring decisions, addressing unconscious bias, and creating more inclusive job postings.
Which pitfalls do you want to address right away? Share your thoughts and experience in the comments below!
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