As we’ve said time and time again, sales really is a numbers game. It’s critical that you understand how your business metrics break down and where your revenue is coming from so you can figure out the best way to not only get more business from existing clients but also find new clients to help boost your numbers.
Figuring Out Your Numbers
If you haven’t already done so for 2021, you’ll want to go through the following exercise to get a good feel for what new business you need to bring in this year in order to hit your revenue goal.
|Annual Revenue Goal for 2021||$|
|Subtract||Repeat business you can count on from existing clients||$|
|Subtract||% of the existing pipeline that you feel you can close (in $)||$|
|Subtract||Estimate of revenue from upselling/cross selling
|Equals||Revenue needed from new clients||$|
Once you’ve figured out the revenue you need to bring in from new clients, you can then work backwards to determine what activities will get you there.
Want more help understanding your numbers, organizing key information and determining what activities make the most sense for you to perform in order to hit your goals? Check out our BDUtensils library to download free tools and resources that can help you manage and analyze your metrics and determine where your time and effort will be best spent.