Flipping the script on the way you view your business can be extremely useful. This strategy only involves digging in deep once – ultimately, the “flip” – before settling into fine-tuning from that stage on. The bottom-up approach to sales involves cutting expenses, tightening the purse strings and saving all you can to ensure you maximize your profits.
It can work, yes. And you should take the necessary steps to maximize your profits by trimming unnecessary fat through automation and the elimination of any costs that don’t add value to your end game. You do this big overhaul once, with a few tweaks, say, every quarter, and you’re done, however. You can’t continue to reduce an expense once it’s already been eliminated. That’s a one-time savings.
Instead, I propose you choose a top-down perspective. Think about it. The best way to really enhance the bottom line is to make the top line even larger. We know where most of our efforts lie: in closing. This is important, but at this late stage in the game all we can really do is continually ask for a “yes” in every way we know how. Still important, but not the full equation.
The “easy guys” get overlooked all too often because we see all the work that lies ahead. But the true opportunities are in prospects. Early stage opportunities allow you to control more of the narrative, adding more value and building a rock-solid, long-term relationship with that person that can lead to future business. The critical differentiator here is that they need to be meaningful prospects.
This is where your team comes in. Make sure you’re utilizing them in a meaningful way, and they’ll produce meaningful leads. For example, are their cold calling hours spent dialing every number from a certain street, or are they honing in on data that involves, say, employees at a company that is relocating two towns over? Does your staff excel at asking questions, listening and then quickly determining how your products and services can make this prospect’s life easier, or have they memorized some pitch you practice in team meetings?
The devil is in the details; and so are the sales. There’s an old adage I came across recently that says, “If you want to make a small fortune on the bottom line, start with a large fortune on the top line.” That’s good advice.