It's tempting to approach your businesses with the same wide-eyed enthusiasm we feel when scanning a menu at a gourmet restaurant. However, there's a difference between what we desire and what is feasible, especially when it comes to sales targets. It's common for company leadership to set ambitious sales goals. While having high aspirations isn't inherently wrong, the critical question is: are they achievable?
I've been part of teams that met incredibly aggressive sales targets. Initially, I had my reservations, but our success was due to the leadership's clear planning and execution strategy. The key is to take a holistic view of your business and set sales goals based on this comprehensive perspective. It's unwise and unfair to base targets on mere assumptions, expecting departments like operations and marketing to "step up their game." If your business can't meet these demanding objectives, the entire organization suffers the repercussions.
To set realistic goals, analyze past performance. Consider any seasonal trends that may influence sales. For instance, in the car washing sector, fall and winter are peak periods. By recognizing these patterns, you can allocate sales targets accordingly, relieving undue pressure during off-peak seasons. It's detrimental to set lofty goals without a clear strategy. I've witnessed the strain it places on sales teams, diverting their focus from optimal performance to the looming fear of unattainable targets.
If you lack historical data to guide your sales objectives, research industry benchmarks for businesses similar to yours. A simple online search can provide insights into typical expenses and sales figures, helping you set more informed goals.
Finally, when determining sales targets, involve all relevant stakeholders. Organize a meeting to share your sales vision, solicit feedback, and most importantly, secure team buy-in. The last thing you want is to conclude a challenging year with your team saying, "We knew those targets were unreachable."
Remember, setting sales goals is as much about strategy and planning as it is about ambition. Achieving a balance between the two ensures both growth and sustainability for your business.