Posts Tagged ‘cost of sales’

Shortening the sales cycle starts with getting into buyers’ minds

Wednesday, July 23rd, 2008

Last week, we discussed the importance of reducing the cost of sales—which I defined as the time it takes to prospect for new clients and close new business. This week, I’d like to discuss how to get started.

Step one is recognizing that for the most part, we can’t convince anyone to buy something from us that they don’t want. When it comes to shortening the sales cycle—as with other forms of behavior change, the thing to remember is that it’s all about attraction and motivation—rather than persuasion and pursuit.

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Accelerate revenues, reduce the cost of sales, and boost profitability

Tuesday, July 15th, 2008

For many professional service firms, the single largest expense is the cost of sales. That’s because while your firm’s most senior personnel are prospecting for new business—or convincing decision-makers to buy—these highly-compensated professionals are neither available to close other opportunities, or to deliver billable services.

To make matters worse, attracting—and ultimately closing new business–can take anywhere between several months and several years. In fact, sales people, at any organization that sell services, or products, that prospective buyers perceive as a major commitment, find themselves in much the same situation.

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