As a CEO, your time is your most precious commodity. You have a lot to do and it's easy to get caught up in the day-to-day tasks of running a business, as you should. You know sales are the lifeblood of any company, and without them, a business simply cannot thrive. But should you, the CEO, be doing the selling? No and here's why:
- CEOs have too much to do to follow up: As the leader of a company, a CEO's plate is already full with a wide range of responsibilities. Adding the task of selling to that list can be overwhelming, and it's easy to let follow-up activities fall by the wayside. This can be detrimental to the success of the sale, as follow-up is often key to closing a deal.
- CEOs have a tendency to underprice: CEOs are used to thinking big picture and making strategic decisions that will benefit the company in the long run. However, when it comes to pricing, it's easy to fall into the trap of underpricing in order to close a deal. This can be a costly mistake, as it can lead to lower profits and potentially even financial loss.
- CEOs talk too much: As the person in charge, it's natural for a CEO to want to take charge of a sales conversation and explain all the details of a product or service. However, this can be a mistake, as it can come across as overwhelming or even pushy to potential clients. It's important for the CEO to let the salesperson take the lead and only provide necessary information.
- CEOs never enter data in a CRM: Customer Relationship Management (CRM) systems are crucial for keeping track of sales leads and client information. However, it's easy for CEOs to neglect this important task, as they have so many other responsibilities. This can lead to missed opportunities and a lack of organized data.
- CEOs should offer their network, but only to make introductions: As the leader of a company, a CEO likely has a wide network of connections that could be helpful in making sales. However, it's important for the CEO to remember that they should only make introductions and let the salesperson take the lead in the actual sales pitch. The CEO's role should be to open doors, not close deals.
In summary, while it may be tempting for a CEO to take charge of the sales process, it's important to remember that it's not always the best use of their time and resources. It's better to focus on the big picture tasks of running a company and let the sales team handle the actual selling.
If you're a CEO who is selling, we suggest hiring a sales agency like Sales Tempo. A sales agency can help you close deals faster. There are several ways to assess the effectiveness of a sales agency. Some options include:
- Sales data: Are they tracking all their sales outreach? Tracking key metrics such as revenue, number of leads, conversion rate, sales cycle length of time and average transaction value to get a sense of how your sales are performing.
- Customer feedback: Are they tracking all their communications? This information can be used to identify areas for improvement, pricing changes and product additions.
- Sales reports: Are they sending you weekly reports? A good sales agency creates regular reports on their activities, including the number of calls made, meetings held, and deals closed.
- Sales software: Are they building you a sales tech-stack? A sales agency should have many software tools available that can help you track sales progress and analyze data to identify trends and areas for improvement.
- Sales meetings: Are they having regular pipeline meetings to review the funnel and what the customer is saying? Regular sales meetings can be a helpful way to track progress, share updates, and identify any issues or challenges that need to be addressed.