Essay Example on Building Sales Team

Introduction

Every organization should consider having a hardworking sales team and ensure that it is working for the interest of the business and its growth. For an organization that is based in Singapore that is in the business line of dealing with buses, various procedures exist that it can undertake to set up its sales team. The first step includes evaluating the sales situation, like the determination of whether the required resources are available. The next step is deciding the workforce that the firm needs and their responsibilities. To have a winning sales team, the company need to define what is winning so that the workers can track their progress and success rate. The hiring process should be a solid rock for the vetting process should ensure that the right staffs are selected and the recruits should be tested on the way that they are faring at the workplace. The hiring activity is time-consuming, and all the processes should be followed as a measure of ensuring that the company has a skilled and disciplined workforce. Another issue that the firm should consider ensuring that it has an active and winning sales team is to keep money flowing. The pay should not be the main reason that should be driving the sales team, but it is a motivating factor. The new hires should be informed about the goals, responsibilities, and measures that they need to achieve for them to meet the organization's objectives (Campbell, 2017). Additional training should also be an issue that the manager should consider ensuring that the workers have tailored skills and expertise.

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Expanding Market Share

Expanding the market share is an issue that the management of the firm should work towards realizing for this will be the move that will give it the platform to sell more of its goods, and it can adopt various measures to attract the current customer base. Production of high-quality commodities that are solving the problems prevailing in the market is one of the ways that the firm can rely on to achieve its objectives. Investing in adverts is another move that the company can adopt for this presents the company with the opportunity to reach a wide range of potential clients based in the media used. The expansion of the firm needs to be taken with care, considering that the firm is still small. The earnings made should be invested wisely to provide the company with the opportunity to grow. When a branch manages to support its operations financially and meet the various occurring expenses, then the management may think of opening other entities in Singapore and around the world. However, precaution should be taken, ensuring that the company does not end up opening many subsidiaries that it cannot manage to support financially. There is a need ensuring that the available subsidiaries are being utilized optimally, and they are exhausting the resources available to them. However, if there is a case of underutilization, the firm should avoid making an expansion for this will lead to losses.

Setting Sales Targets

When setting the sales targets, the firm needs to consider various issues, such as the amount of revenue that is required for the business to remain relevant and successful presently and in the future. The process will provide the management with details on the sales and products that they will have to produce and sell to realize the set goals. Having realistic timelines and the lead times that they relied upon by the sale team is an important aspect. The selling department needs to be given adequate time to learn about the commodities they are selling and how they can positively present them to the clients in the market. Once the targets have been set, the firm should have regular meetings with the sales team with the desire to determine if they have realized their goals. The analysis may be used to make adjustments on the matters that had been set but have not been realized. The sale team should always be monitored and measures taken to determine if they have realized the goals that were set at the beginning of the fiscal period. The setting of profit margins for the small entities involves determining the industry objectives and adjusting them in line with the organization's capability. It is crucial to make projections of the expenses that the firm can incur, and the firm should set the prices for their commodities based on the direct operating expenses, in addition to the percentage margins that are specific to the buses industry. The next step should involve deciding the products that the company is working towards making and selling based on demand the production capacity. The profit margin should be determined by doing the projected profits against the gross revenue amounts. The management should evaluate the profits margins with time with the desire to determine if the projections made are realistic.

Follow-up on Projects

When an organization manages to get a project, all the right procedures should be followed ensuring a healthy relationship is built with the client. This will ensure that it will be easier to make a follow-up and raise the chances of getting another project in the future. The follow-up process should include determining if the right procedures are followed in the right way and whether the timelines have been observed. Projects are usually assigned a given timeline, which involves making a definition of the time that is needed for a given project to be completed. Failure to work within the given deadline may result in fines and a bad reputation on the part of the company. The follow-up is also used to ensure that the team is making adequate sales in addition to determining whether they are achieving the set targets. In some cases, the contract may expire before the project is complete, and this means that the renewal process may be necessary. In this case, the management will need to follow-up with the client to facilitate the renewal of the contract for it to be legally binding. The communication channels between the client and the firm should remain open all the time to make sure that there is an effective flow of information and details. This can be made possible through the making of follow-ups on contracts that have been won by the business. If the bus company may follow the above-highlighted measures, there is a high probability that it will continue to grow. Its ability to have a sale team that is effective in the market, manage the profits and margins in an efficient manner and maintain a cordial working relationship with the customers are some of the procedures that need to be observed for the company to achieve its set targets.

Reference

Campbell, S. (2017). 9 Tips Guaranteed to Build a Winning Team. Entrepreneur. Retrieved from https://www.entrepreneur.com/article/292425