Movin’ the Needle – How Fast to Step on the Gas?

Posted by Jack Derby, Head Coach on Thu, Jun 17, 2010

Last week I was able to combine visiting one of my most engaging customers, Lake Sunapee Bank in the picture-perfect town of Newport, NH, with talking to my favorite economists, Brenda.

LSB is a jewel of a bank and dominates the region from NH into Vermont, and right across the street from their corporate office down below street level is the Main Street Bakery, where Brenda is the CEO, VP of Marketing, CFO, Chef and sole employee. With some of the finest bakery items I’ve tasted and with a variety of coffees and free Internet, I look forward to camping out there before starting my meetings at LSB. Plus I get to talk with Brenda about her answers to my ever-present question of “How’s business?”, and with Brenda, I get real life answers as seen through the eyes of a hard-working and capable entrepreneur who is competing with Dunkin Donuts about a mile away.

If I measure the economy by CNN commentary, I’m retreating to Vermont and digging a well-armed bunker. If I measure it through the words of the Brendas of the world, the micro and the small business owner, it’s beginning to turn around. Still not much access to capital, but in Brenda’s world, walk ins are up, take outs are up, and her big Move-The-Needle strategy of catering parties is taking off with three June events. My suggestions to her in January of advertising free Internet access on her sidewalk sign is bringing in new customers, and she’s building her newly formed database by asking everyone for their email address so that she can populate a Face Book page. Degree by degree, blocking and tackling her way through cups of coffee and maybe now moving the needle through her about-to-be launched online recipe newsletter and higher risk tactic of shutting down at Friday noontime to take part in the local Farmer’s Market, Brenda is part of the recovery that’s taking place in the real world.

Far removed from the bumbling procrastinators in Washington, small business managers are inching through a cautious recovery and are now attempting to balance their time and resources between the blocking and tackling of organic growth and the leverage of move-the-needle growth while trying to figure out just how much they should step on the accelerator.

It’s actually a good thought process to think about for the next six months. Step back in early July with your managers and figure out as a team just how much you want to actually move the needle. In the case of Brenda, the process is tough because it’s just Brenda wearing six different hats, but across the street at the bank, Steve T. and Steve E., the respective President and CEO, have the luxury of an excellent management team and being able to carefully think through the same issues that any growth business should be considering at this time of year. Do we stick to the knitting of our 2010 plan? Do we carve out now for the second half one or two new strategies that could accelerate us into even faster growth in 2011 and 2012? Do we have the bandwidth to do both? What’s the risk profile of our resources? Are there new services or products that our customers are looking for the could extend our reach? Do we believe that as a result of new shifts in technologies in healthcare, mobile, social networking and energy, we could launch a new growth vehicle for the next few years?
Bottom line, should we continue to cautiously drive our two year old Jeep, or should we think about taking that new BMW out for a spin?

No right or wrong answers here, but what would be wrong is to not ask and answer the questions succinctly, plus you’re at the perfect time of year to do exactly this.

As long as you’re going to think about addressing these opportunities with the team, take them offsite to a mind-expanding inexpensive location like the Stratton Mountain Club in Vermont or the ever-classic MIT Endicott House in Dedham or take a walk on the beach at the Wentworth in Portsmouth. Just an added touch to get everyone’s head in the game and gain a bit more perspective plus an opportunity to thank them for bringing in the first half of the year.

Good selling as you crunch the last days of Q2 !

Jack

Tags: sales productivity, Sales Optimization, sales, sales effectiveness, selling, selling skills