5 Critical Sales Management Tools You Need In Your Business


– What are the five
critical management tools you need to focus on in order to drive
success in your business? I’m Dave Lorenzo, we’re talking about the five critical
sales management tools you need to focus on today on this edition of The
Dave Lorenzo Daily. We are here every
day at 5:00 p.m. with a brand new sales
strategy for you. Today, we’re talking about five critical
sales management tools to help you grow your business. And the first tool I
want you to focus on is your profit and
loss statement. What is that? It’s your P&L statement. It’s the statement
that determines whether or not you’re making
money or losing money. Your profit and loss statement, and the profit
and loss statement of each of your
sales professionals, is critical to
determining whether or
not you’re successful. So I want you to look at your
profit and loss statement, otherwise known as
the P&L, every month, to determine whether you’re
making money or losing money. Each one of your
sales team members is either profitable
or they’re not. That’s how you determine
their success overall, so I want you to figure out how you can measure
profit and loss on a monthly basis
per salesperson. Coach the people
who need coaching, recognize and reward the people who should be
recognized and rewarded, and use your P&L
statement as a tool. The second critical sales
management tool you should use to determine success is video. That’s right, video,
what I’m doing right now. Communication is essential for the success of the
people on your team, and you can’t meet with
everyone in person, so you should be doing
educational videos at least once or twice a week,
sharing them with your team, keeping their confidence
up, motivating them. Record a video at
least once a week, share it with your team. This is a critical
sales management tool that will help
you be successful. The third sales management tool that’s critical for your
success is your CRM. It’s your client relationship
management system for taking notes. You need to be
able to take notes on the performance
of your sales team. You need to be
able to take notes on client relationships
that you’re managing and that your team is managing. You need to be able
to set reminders so that you can
track what’s going on in your sales pipeline. So, your CRM is an
incredible tool. Use it to its fullest capacity. Make sure you’re taking notes, make sure you’re storing notes, and make sure you’re
setting reminders so that you can track
and measure the activity and determine what’s successful. The fourth tool that’s critical
for your success in sales, believe it or not, is LinkedIn. LinkedIn is a database that will allow you to do
deep research on people. You should do a LinkedIn
search on everyone with whom you come in
contact on a daily basis. Learn who’s in their network and discover how you
can help them grow. LinkedIn is a great due
diligence tool for you to do research on
people in business. Do not overlook this asset. Go to LinkedIn once a day, look through the
LinkedIn profiles of the people with whom you
will be meeting in the future, and educate yourself
on who they know, see who you know in common, because talking about
people you have in common is a way to build rapport. The final critical
sales management tool that you need to take
advantage of is your calendar. Put every activity you want
to accomplish on your calendar and then adhere to your calendar as strictly as you possibly can. If it doesn’t go on the
calendar, it’s not real. Put everything on the calendar and budget your
time appropriately. Time is more valuable than money and you should be budgeting, and your calendar is where
you track your time budget. So when you wake
up in the morning, if you meditate for 20 minutes,
put that on your calendar. If you read for 30 minutes,
put that on your calendar. When you’re doing your
LinkedIn due diligence, your research, put
that on your calendar. Your time with your
son or your daughter doing their math homework, put that on your
calendar as well. If it’s not on your
calendar, it’s not real. That is a critical
sales management tool. I’m Dave Lorenzo and I’m
here every day at 5:00 p.m. with a brand new sales strategy. Be sure to hit the
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of our community. Thanks for joining us. I am really glad you’re here. I will see you again
tomorrow at 5:00 p.m. with another edition of
The Dave Lorenzo Daily.

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