3 strategies to remain focused on our sales forces and leave the stock sales to the experts…
Most of us can admit to clicking into our favorite investment site from time to time over the past couple of weeks, especially our retirement and college savings accounts; some have been more distracted than others. Whether you are buying or selling, and clearly more people have been selling, the turmoil in the market has been hard to tune out. However, there are plenty of reasons not to get distracted right now.
We all need revenue and income and that means we need to improve our sales forecasts and inspire those within our control and leadership to focus on the basics of prospecting and closing. What's hot, what's real, what can we close this month/quarter, how can we exit this quarter with sufficient momentum, etc. What's happening on Wall Street is not within our control and will not result in a deposit into the company's coffer or our own paychecks. It just won't… For my fellow control freaks this is a tough reality to accept but accept it we must. This is not to say that we shouldn't "participate" in the management of our investments, but there is a proper and achievable balance.
Here are three of the strategies discussed within our community of Sales leaders and professionals:
1) Figure out the best way to let go. For some people, this is achieved by selecting expert financial advisers whom we really trust and respect, and then letting them focus and worry about the selling on a daily basis. This is not the right choice for everyone.
2) Complete an honest assessment of your risk tolerances. Everyone is different. If you are overly focused and worried about the recent decline in value, you might want to make some changes with which you can be more comfortable for the long term; once you do this you will probably find that you naturally refocus closer to home of the numbers you can actually control.
3) Be smart with your time (just as we tell our sales forces)… find some quiet time in the evening or over the weekend to do some research and to reach conclusions about your buy/sell price triggers, then update your online accounts and then let technology work for you. If the market and/or individual prices reach your predetermined points, great, your orders will be executed without hijacking your focus. In the meantime, you can find the inner consonance required to remain focused where you need to be – comfortable knowing that you have applied research and reason to your decision making.
We make money leveraging our strengths and following our passions. For most of us, this path does not lead through Wall Street. Sales leaders are, however, taking steps now to add sales professionals to their rosters for the Fall recognizing that the market for sales talent is quickly getting warmer. Strengthening the forecast now, and building the team for a strong close to 2011 and faster start to 2012, is a worthy pursuit that warrants our attention and talent.
As a final note, stock market distractions could require self reflection beyond the aspect of risk tolerance. Just as our sales people are susceptible to mistaking activity for productivity, we could also fall into this trap. The question is why. What is the reason for this? Is the stock market a welcomed distraction? Is it time to make a change, or do you just need to shake off the dog days of Summer?
Please share your tips and techniques for recognizing distraction and regaining focus.