- Two Iconic Companies Build Better Sales Culture on their World-Class Strengths
- The Fundamentals of Sales Culture
- How “sticky” is your sales learning?
- Establishing “Bulls-Eye” Targets – Best Practices
- SELL is not a four letter word
- 3 Steps You Should Take to Design an Influential Presentation (Think Outcome Versus Content)
- Leadership Lessons from Headmaster Wright
- How Clients Choose
Resource Library - Sales Nuggets
Establishing “Bulls-Eye” Targets – Best Practices
A key challenge facing most Sales Leaders is balancing the short-term drive for results, with a long range strategic view of where the business is headed.
Like it or not, as Sales Leader, your Executive Team; your Board; and your Shareholders are all asking you to predict the future.
One way to address the challenges of tomorrow is to create the future, today.
A key step in creating your long range sales strategy, is to establish a clear set of Bull's-Eyes – each with a crystal clear target.
Once you have established your Bulls-Eye Targets, you must identify Business Goals that align to and support each Bulls-Eye. It's the combination of these that will produce the results you are striving to achieve.
Creating Strong Bulls-Eye Targets
Review your Strategic Intents (i.e. Sales & Service Excellence; Solution Dominance, etc).
Brainstorm different ways of articulating the target (incremental, breakthrough, quantum).
Select the target that feels right in your gut.
Articulate the Bulls-Eye Target for each Strategic Intent using the format: What's the Focus? How Much? By When?
Three Type's of Targets
Incremental Target – ask yourself what “playing the game better” looks like relative to your Strategic Intent. For example, increasing your market share for your flagship product by 10%.
Breakthrough Target – ask yourself what “changing the rules of the game” looks like relative to your Strategic Intent. For example, creating a technology extension to an existing product that opens up new Customer opportunities.
Quantum Target – ask yourself what “changing the game” looks like relative to your Strategic Intent. For example, creating a new product that establishes a new category will change the way Customers perceive you in your marketplace.
Select the Bulls-Eye target that seems most worthy of pursuit. By definition, it must either be a “breakthrough”, or “quantum” target. An incremental target just does not cut it in the world of Bulls-Eyes.
Now, you must ask yourself what it is you are trying to achieve. What are you focusing your efforts on? What do you want to change, improve, reduce or add?
- Be #1 or #2 in Every Market We Serve
- Fastest to Market with New Applications
- Be the Most Trusted Brand
The target does not get into the details of “how to” accomplish the goal – it simply states the end point – what are you focusing your efforts on?
Bulls-Eyes – Examples
These examples are likely not important to your organization, but they are meaningful to the organizations that established them.
Keep in mind that the Bulls-Eye represents the ultimate target for each Strategic Intent. If your overall Shared Purpose speaks to “Proudly Building on Our Global Reputation” – then what is the ultimate target you are aiming for? For example:
- By December 31, 2008, we will be recognized as the most respected brand in our industry
Or if your Vision has a strategic intent such as “Solution Dominance” – then your Bulls-Eye Target could read:
- By December 31, 2008, we will generate 50% of our revenue from solutions that do not exist today
In summary, taking the time to establish Bulls-Eye Targets is an important step to creating tomorrow's reality.
As Sales Leader, it's your responsibility to inspire people to a “shared purpose”, so that they can believe and embrace these goals with the commitment and energy required to achieve them.