I think I speak for many of us sales professionals, when I say that we’re anticipating a recession, already.
The worldwide affect of the coronavirus, is undeniable, and only the future will tell us what it holds.
So we now sit and wait and see what happens… …WHAT??!!! Over my dead body!
That’s exactly the way sales pros get screwed over by a recession, right when it happens. They sit and wait to see what the outcome might be.
Why, so you can be a sitting duck?
Check out this video, as the first of my strategies, that I already started working on, about a month ago.
Increase your Output
You’re going to lose at least 50% of your business, right now.
Treat it like it’s ALREADY HAPPENING TO YOU, because it is.
If it doesn’t, good for you, this strategy will mean you’ll be killing it even more.
So, anyway, for now, lets imagine you’re going to lose around 50% of your business.
No More Sales Pipeline
Before now, you could rely on your previous pipeline to deliver sales to you, and all you needed to do was keep it replenished with new leads.
But no, consider that pipeline, gone.
You’ll lose at least 50% of anything you COULD’VE earned, right now.
Plan for that to happen.
In a way, this is like starting over completely from day 1, with no pipeline, and no business.
So, this is what I do.
Forget About Your Income
I forget about my income completely for a minute. I just imagine it’s all gone, and focus on my output.
This is because, as we all know, sales, no matter what industry you’re in, is ALWAYS a numbers game.
Your output, generates your income.
So, using the 200 x 50 percent strategy, if you’re about to lose at least half of your income, you need to double your output.
Double Your Output
Why? Because 200 x 50% = 100.
200% of the effort, times 50% of the income, equals 100%. Your income, therefore, stays the same.
You double your outbound calls, double your leads, double your quotes, prospecting, appointments, qualifications or whatever you do to open up a prospect.
You’re going to lose 50%, so you need to double your output, to keep your income the same as before.
So, about a month ago, when the coronavirus started to hit us here in the USA, it was becoming clear that this is a global problem. When we were being told we need to work from home, I instantly double my advertising budget.
Double Your Marketing, Increase Your Leads
I increased the amount of incoming leads I received to at least double what I had before.
The reason for that, is the leads coming in now, ALL KNOW about coronavirus.
All the older leads and prospects that we’re going to lose at least 50% of, didn’t.
Therefore, the new leads, prospect and clients, are much less likely to get lost, due to this issue.
Set Higher Targets
In my job, we send out quotes to our prospects for pricing.
I doubled my output on the amount of quotes I was sending out.
I would set daily targets that were a lot higher than before, and I put in the work.
This means that now, while I’m following up on those prospects, not only are there twice the amount of them, but they will replace the old prospects with many more new ones.
So, when the old ones blow out, the new ones are just going to take their place.
So, the first part of the 200 x 50% rule, is to double your output, to keep your income the same.
Next, is how you allot your time.
Whereas before the coronavirus recession, you would spend an equal amount of time on prospecting and qualifying, as you did on following up with people, this will also change, for several reasons.
So, before, it was about 50 / 50, or somewhere around there.
This is NOT what you want to do right now.
Protecting your mindest at all costs is of utmost importance, ESPECIALLY during weird times like these.
So, the LAST thing you want to do, is spend day-after-day spending half your time, talking to blown out prospects. Watching your pipeline and your business implode, is not a good use of your time, and it will DESTROY your mindset.
A week of doing that, and you won’t even believe you’re going to sell anything ever again.
So, we’re not going to spend 50% of our day doing that. We’re going to half the amount of time doing that.
You’re going ot double the time you spend on outgoing, prospecting, generating leads, and building new business.
Double it to 200%.
Then, spend 50% of the time you spent before, following up with people. Set a specific time limit on how much time you spend on this, and keep it small.
So, double your output to 200%, and half your follow ups to 50%. Make the follow ups quick, let everyone go, that wants to go, and spend as much time as possible with anyone staying.
Stay cheerful, work on all the new clients, still in the game, and keep in contact with those that are still alive.
200% x 50%.
Double Your Time
You worked 8 hours a day before this recession hit, right? Let’s be honest, you probably really only worked 5-6 hours, and spent the rest of your day dicking around on whatever you could distract yourself with.
Well, guess what? That’s done now.
It will be a lot harder to close business from now on. Anyone can make money when the economy’s booming. ANYONE.
You can be as lazy as you like, THEN!
Now, as you’re doubling the amount of effort, outgoing calls, prospecting, quoting, opening, lead generation, or whatever the hell it is you do to open up your pipeline… …you’re working longer hours.
You’re working extra days, holidays, weekends, and whatever spare time you had before, you’re working.
Double Your Output to Steady Your Income
You need a 200% effort on the outgoing.
You can continue working as you did before, and lose at least 50% of your business, /You can sit and complain about how you’re not getting as much done, or you can have after it like a blood thirsty animal.
You’re going to work twice as hard, to get half the money, so when you’re done, you’re STILL at 100%.
You get it?
Yes, it’s more work, but it pays off.
Yes, it gets seriously weird sometimes. I’m working about my 16th day ina row without stopping right now.
BUT, I’m busier than I was before the coronavirus outbreak, I have more leads than ever before, and more outgoing quotes to new prospects than ever before.
Who’s going to do better?
Me, or the people sitting, working from home, sweating their income, doing the same amount of work like nothing’s happened, yet still crying like they don’t know what to do about it?
The answer is obvious.
It’s 200 x 50%.
Twice the work for half the income, so you earn the same until the crisis is over.
Oh, and you know what the kicker is?
All of those people that got blown out, or got affects by this crisis, will be working with you.
They will ALL know your name, will ALL have had emails from you, and will ALL remember you when it all comes back.
You’re making for the next 4-5 years to be easier than any others.
Your Future is Brighter Now Than Ever Before
Your future is getting brighter and brighter, the more motivated, and the more of a killer you are today.
So, with the 200 x 50% rule in mind, get out there, and fucking slay the world.
Make sure that ANY business out there is yours, and not anybody else’s.
I have a few more strategies, tools, and things coming up that will help you get through this financial downturn, and if you’re ahead of the game, you’re going to be fine.