As the saying goes, “the best offense is a good defense.” Last week, we looked at the first 4 of 7 common mistakes that Chief Revenue Officers make and how to avoid and overcome them. This week, we look at the remaining 3 – because if you can recognize mistakes before they happen, it will set you up for success in the long run.
5. Implementing CRM at all costs without mapping or fully understanding how prospects and buyers buy.
As a mentor of mine used to say, if you implement a CRM tool without having designed and tested your engagement roadmap in alignment with how your buyers are evaluating and buying, your offering is only achieving chaos faster. It is a train wreck in the making- on steroids. Not having such process design before automation will only get you to fail faster and harder. Not a good recipe.
6. Believing that some territory presence by an under-performing or misbehaving sales executive is better than no presence at all.
FEAR, False Evaluation Appearing Real, is what drives some organizations and their CROs and CEOs to make this mistake. Unfortunately in most cases, the cost of loss opportunity, the negative impact on prospect and clients, the loss of company credibility and the spoilage of territories significantly outweigh a temporary loss of market coverage. Hire slow, fire fast is the right motto in this case.
7. Thinking that hiring A+ players without investing and continuous performance-based training of all A and B players is the key to a strong revenue generation success over time.
A+ players tend to be intuitive sales individuals. While intuitiveness is a positive attribute, it often means that they do not know (or do not know how to verbalize) why they are successful, why they asked a certain question of a prospect at a specific time, or how to empower others to success by anything else than “look what I do and do the same”. They are also very insecure in their abilities to perform to such high level month after month, and quarter after quarter. Often they succeed in one organization for 12 to 18 months and then leave “because their ‘magic’ is gone”. This type of individual is rarely successfully replicated. They are also very individualistic with strong resistance to oversight, control or supervision. I would suggest to always prefer an organization without A+ players. It is better to see your organization document and define an engagement roadmap that mirrors how your prospects buy from salespeople, and teach them and the other sales professionals on how to follow this process that is supported by selling tools. That is what makes a sales organization successful over the long term.
By keeping an eye out for these areas of weakness as a CRO, you can focus your resources and time on moving forward for success, and not just on putting out fires as they happen. Have you seen any common mistakes that didn’t make our list? Let us know in the comments!