Our previous discussion led us to formulate Minimum Goals, Actual Goals, and Stretch Goals. Consider that those are Annual Goals. It is a temptation to take those Annual Goals and divide them by 13 (counting the holiday season as two months) to set monthly goals. That is a simplistic handling of them. However, that method does not consider the actual ebbs and flows of the industry. Valentine’s Day and the holidays of Christmas or Hanukkah represent the potential for increased sales volume. Additionally, occasions such as engagements, weddings, birthdays create opportunities for greater monthly sales volume. Other months tend to create greater challenges to keep sales on an even keel or to surge ahead of projections.
Carefully constructing monthly goals aligned with the historical realities of the industry and the particular company, increase the likelihood of success in meeting and exceeding projections. Taking these more realistic figures, and breaking them down into realistic assessments of weekly percentages further refines the projections.
In a previous example, we noted that business volume was greater in weeks one and three. (Generally because bi-weekly pay periods fall near these times.) Simplistic formulas would indicate that dividing the monthly goal into four or five weeks would suffice. Again, considering the historical volumes of particular months serves as a guide to setting percentages of the monthly goal for each week.
Following the scenario of setting goals according to the natural (historical) flows of business allows for setting daily projections in the same manner; which refines the process further. Ultimately, setting the monthly goals for each salesperson and the weekly breakdown of sales projections for each person allows each salesperson to be aware of their expected production levels and to set their personal goals to meet or exceed each of the minimum, actual and stretch goals.
To some people, these levels of specificity seem excessive. Really? If I KNOW what it takes to be successful at my career on a daily, weekly, monthly or yearly level, I am far more likely to remain focused and productively creating actions which will take me to the next steps of success! How detailed are you willing to be to create your own success?!
Handling the projections for your store, your staff and especially yourself serves as your beacon for the year. As your staff negotiates the waters of monthly sales, your pre-set markers, plus the successful riding of the waves hitting your sales ship will allow you to adjust your course to reach the shores of success with no one getting seasick!
Additionally, as a TEAM within the store or company, setting very specific and measurable goals allows for and creates opportunities for support among team members. The competition that I create in a store is individuals competing with themselves. However, by posting goals and statistics it might inspire them to create a little friendly competition between ech other. The sharing of skills and techniques can be Team Building. Individual successes can be motivating for both experienced salespersons and newer hires to push for excellence! When lesser-experienced salespersons achieve awesome sales, it serves as a nudge for “Old Hands” to step up their game! Creating friendly competition within the staff can be both supportive and motivating - either way, the bottom line is the beneficiary! You gotta love that!