Add an Extra Month to Your Q4 by Preplanning

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When writing the August newsletter, I'm always tempted to veer toward a subject on the lighter side. Everyone's on vacation anyway, right, or busy with back to school shopping or taking kids to college?

More than the end of summer, August is a gateway month. We need it to get ready for what I've always referred to as "extended Q4" - September - October - November - December - a critical period for most sales organizations. Plan for extended Q4 now, so you enter September in a state of readiness.

Falling Short

Any salesperson behind in quota needs to know this to the dollar so they enter the fall with no illusions. After reviewing the numbers, your first question to them should be, "How are you planning on making up the short fall and achieving your goal?"

For example, a rep with a goal of $1,020,000 for the year ($85,000 per month) should be at $680,000 at the end of August to be at 100% of quota. If they've reached only $600,000 in revenue (88% of quota), their new four month goal stands at $105,000 per month or $420,000 for the year.

Together, take a detailed look at each rep's pipeline and sales forecast. Given the status of each, have them draft a plan for the next four months. Meet with them regularly. Show your support. Hold them accountable.

Ahead of Plan

Most of us consider reps ahead of quota going into "extended Q4" a high-class problem. There are two potential pitfalls: the rep coasting for the rest of the year or getting complacent and potentially missing goal.

Tell the over-achieving rep exactly where they stand versus quota. Surprisingly, even superstars sometimes don't know their precise percentage over goal. Let's say their eight month total stands at $730,000 (107% of goal) versus their goal of $680,000.

Say, "I've been reviewing your sales forecast and pipeline. I think you could reach 115% for the year. What are your thoughts on that? What would motivate you to reach that number?" Remind them of any accelerators that will pay out for any sales they make over quota. Work together on a plan.

Don't Stop There

For each rep on staff, regardless of their performance to date, consider the following:

  • Review the comp plan, pointing out earning potential at 100%, 105%, and beyond. Focus on upside earnings for reaching each of those targets. Three quarters of the way through the year, reps sometimes forget the details of the comp plan.

  • Create an individually designed extended Q4 sales contest for each rep. Target specific strengths, accounts, and motivators. Enlist their participation in designing it. No contest should be exactly like another.

  • Sponsor a morning, afternoon, or day of training. If the budget allows, bring someone in from the outside. Concentrate on a particular skill. Reps should role play and share best practices. ALL salespeople need booster training and a chance to revisit the basics. This shows the company commitment to the group and boosts morale.

Set Yourself up For Success

Allocate your coaching, as well as deal and sales forecast review time, so that the majority of it gets spent with reps capable of exceeding quota by a solid margin.

Share with your direct supervisor and / or upper management what you want to achieve. Be specific. Show up with charts, graphs and plans. Let them know you need to dedicate as much time as possible to meeting with reps, coaching, accompanying them on or monitoring calls. Any unnecessary activities detract from your goal of helping the group exceed quota.

That's your job, right?