Hello, hello! A week or two ago, I posted the first of what would be a two-part series, Yes, You can Produce High Sales in a Bear Market. In this week’s blog post, we’ll look on the final sales strategy required to succeed in a bear market- FOCUS. We’ll get into why focus is your greatest advantage. Grab your favorite coffee mug, fill it up and let’s get going!
Focus is your greatest advantage to beat a bear market
The world is crazy right now, the stock market is currently facing a bear market and yes, it’s tough to run a business, big or small in most industries. However, we can’t afford to get caught up in the negativity of the current social, financial, and economical challenges. To set the world right again, we’ve got to focus. It all starts with seizing the ball when our competitors drop it because they’re all caught up in the distraction.
While other organizations worry about how to hold out … the winning companies will focus on how to take advantage of the current economy and will implement their own ―economic stimulus package.
To get this done, you and your employees need to focus on developing their skills through coaching, practicing, and sticking to a tried-and-true winning game plan. Think of it as a race, an Olympic runner cannot afford to look off to the sides when racing.Instead, they look ahead, focus and sprint with all their might so they can be the first person to cross that finishing line. The same applies with business.
Sales Leaders must keep their team focused on succeeding
At all times, our teams look to us, their leaders in middle, for coaching, answers, winning, and guidance. Employees want answers on how they can push through these challenging times. Now, I know I don’t need to tell you keep a cool head at all times, you wouldn’t be a great leader if you didn’t. However, I want to remind you that you’ve got to develop and implement the kind of plan that shows your team what they’re going to do to hit those sales targets. Here’s a trade secret,
Many successful leaders will tell you that you can have more success in a down economy than an up economy. This is determined by the focus of the leaders.
If you believe ‘we will’ succeed and target getting it done, your team will fall in line. As I explain in my book, Serve Up, Coach Down, having a ‘we will’ mindset means our staff doesn’t worry about why something is happening. Instead, you redirect their focus on how they will do better by maximizing a success. So, determine your plan for success, explain the why and how, it can and will be done to your team. They’re looking to you for answers, a great plan will keep everyone moving forwards.
Final Thoughts on Focus, Going Back to Basics and Fighting the ‘Power of New’
Ok, so let’s do one final run through. Yes, you can succeed in a bear market, but you will need to follow these three sales strategies:
- Fight the “Power of New”
- Go Back to the Basics
- Focus
Avoid wasting time on new plans that deep down you know are more performative than sustainable. Play the long game and tailor your strategy on what you know will work beyond this bump. Go back to the basics by increasing your practice program with your sales team and coaching them more than ever. To reiterate yes, it can be hard, but you can produce high sales in a bear market. You just need to focus.
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