What is Sales ?

Contract involving transfer of the possession and ownership (title) of a good or property, or the entitlement to a service, in exchange for money or value. Essential elements that must be present in a valid sale are (1) competence of both the buyer and seller to enter into a contract, (2) mutual agreement on the terms of exchange, (3) a thing capable of being transferred, and (4) a consideration in money (or itsequivalent) paid or promised. See also sales.

Comparison blogs. Comparison blog entries readily translate into sales ...

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Roles and Responsibilities of a Sales Manager

A sales manager plays a key role in the success and failure of an organization. He is the one who plays a pivotal role in achieving the sales targets and eventually generates revenue for the organization.

A sales manager must be very clear about his role in the organization. He should know what he is supposed to do at the workplace.

 

Let us understand the roles and responsibilities of a sales manager:

  • A sales manager is responsible for meeting the sales targets of the organization through effective planning and budgeting.
  • A sales manager can’t work alone. He needs the support of his sales team where each one contributes in his best possible way and works towards the goals and objectives of the organization. He is the one who sets the targets for the sales executives and other sales representatives. A sales manager must ensure the targets are realistic and achievable.
  • The duties must not be imposed on anyone, instead should be delegated as per interests and specializations of the individuals. A sales manager must understand who can perform a particular task in the most effective way. It is his role to extract the best out of each employee.
  • A sales manager devises strategies and techniques necessary for achieving the sales targets. He is the one who decides the future course of action for his team members.
  • It is the sales manager’s duty to map potential customers and generate leads for the organization. He should look forward to generating new opportunities for the organization.
  • A sales manager is also responsible for brand promotion. He must make the product popular amongst the consumers. A banner at a wrong place is of no use. Canopies must be placed at strategic locations; hoardings should be installed at important places for the best results.
  • Motivating team members is one of the most important duties of a sales manager. He needs to make his team work as a single unit working towards a common objective. He must ensure team members don’t fight amongst themselves and share cordial relationship with each other. Develop lucrative incentive schemes and introduce monetary benefits to encourage them to deliver their level best. Appreciate whenever they do good work.
  • It is the sales manager’s duty to ensure his team is delivering desired results. Supervision is essential. Track their performances. Make sure each one is living up to the expectations of the organization. Ask them to submit a report of what all they have done through out the week or month. The performers must be encouraged while the non performers must be dealt with utmost patience and care.
  • He is the one who takes major decisions for his team. He should act as a pillar of support for them and stand by their side at the hours of crisis.
  • A sales manager should set an example for his team members. He should be a source of inspiration for his team members.
  • A sales manager is responsible for not only selling but also maintaining and improving relationships with the client. Client relationship management is also his KRA.
  • As a sales manager, one should maintain necessary data and records for future reference.

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Management Strategies

The art of meeting the sales targets effectively through meticulous planning and budgeting refers to sales management. Sales Management helps to extract the best out of employees and achieve the sales goals of the organization in the most effective ways.

Let us go through some sales management strategies:

  • Identify goals and objectives of the sales team. Be clear on your sales targets. Make sure the targets are realistic and achievable. Also assign a fixed timeline to achieve the targets.
  • Know your product well. Understand what benefits end-users would get from your brand. The marketers must interact with customers to find out more about their expectations from the product as well as the organization. One would not be able to convince the customers unless and until he himself is clear with the benefits of the products.
  • Identify your target market. Selling techniques and strategies can’t be same for all individuals. Each audience has different needs, interests and requirements.
  • Hire the right individual for the sales team. Remember the sales professionals have a major role in the success and failure of organizations. Recruit individuals who are aggressive, out of the box thinkers and nurture the dream of making it big in the corporate world. Make the sales representatives very clear about their roles and responsibilities in the team. Develop a lucrative incentive plan for them. Incentives and monetary benefits go a long way in motivating the sales team.
  • Don’t lie to your customers. It is important to maintain transparency. Communicate what all your product actually offers. It is unethical to make false promises. Only commit to what you actually can deliver to customers.
  • Know what your competitors are offering. It is essential to do a SWOT analysis of your organization to know its strengths, weaknesses, threats and opportunities. A marketer must know how his product is better than his competitors.
  • Sales representatives must do their homework before going for a sales call. One should never go unprepared. Remember the customer can ask you anything and you have to be ready with your answers. The management must promote training sessions at the workplace to upgrade the skills of the sales professionals and expect them to deliver their level best.
  • Devise strategies as per the target audience. Know your market well. The individuals must be able to relate to your products. The strategies must be formulated in the presence of all. Each one should have a say in the same. Let everyone come out with his suggestions. Be ready with alternate plans if one plan fails.
  • The management must conduct frequent meetings with the sales team to review their performances. Keep a track on their daily activities. The sales team must prepare Daily Sales Reports (DSR) for the superiors to know what they are up to.
  • One must assess his own performance. Recall your interactions with the clients and analyze where you went wrong and where things could have been a little better.
  • Treat your customers well for higher customer satisfaction and retention. Don’t oversell. Once you are through with your sales presentation, don’t be after your client’s life. Give him time to think and decide.
  • The sales pitch must be impressive for the desired impact.

 

Managing the Sales Cycle

What is a Sales Cycle ?

Sales cycle refers to the various processes which help the products reach the end users. Customers go through a sequence of activities before the product finally reaches them. Such activities are a part of the sales cycle.

A sales cycle has the following steps:

1.    Identifying Prospects

  • The first step in the sales cycle is to make a list of potential customers.
  • Try to gather as much data as you can. Ask your team members to visit markets, shopping malls, restaurants to map potential customers and collect information about them
  • Placing canopies at strategic locations also invite potential customers.
  • A sales professional should ideally spend his maximum time outside office meeting people. Interact with as many individuals as you can.
  • Distribute questionnaires amongst the potential customers to know them better.

2.    Setting Appointments

  • The next step is to make the people aware of your product and its offerings.
  • Try to get in touch with the people. Call them and seek an appointment.
  • Don’t arrange meetings at your convenience.
  • Take his address and courier relevant information brochures beforehand for him to know more about your product and its benefits.
  • Marketers also depend on cold calls to inform the customers about their products and services. Don’t be after the individual’s life to fix an appointment.
  • Do take care of your pitch while speaking over the phone. Make your speech interesting. Don’t drag conversations.

3.    Know Your Customer Well

  • It really helps if you know something about your client before meeting him.
  • Try to gain some information about him from social networking sites like facebook, orkut, linked in, twitter and so on. These networking sites do give some information about the client which definitely helps in preparing the sales pitch.
  • Understand the customer’s needs and expectations from the product. Check whether the customer has the potential to purchase a particular product or not. There is no point selling an air-conditioner to someone whose monthly income is Rs 10000/-. Find out more about the background of the customer.

4.    Determine Client’s Solution

  • Suggest the right option for the customers. A sales representative must never lie to the customers. Say what your product actually offers.
  • It is unprofessional to make false commitments. Sit with the customer and help him with the best solutions. Don’t always think about your own targets and incentives. Think from the customer’s perspective as well. Don’t prompt him to buy something which you yourself feel is not right for him.

5.    Written Proposal/Document

  • Once the customer decides on the product, present a proposal to him with the proposed rates and other necessary terms and conditions.

6.    Negotiation Round

  • There should always be room for negotiation in deals. Don’t be too rigid. Negotiate with an open mind.
  • The customers should be aware of even the minutest details. For higher customer satisfaction, give him the best deal.
  • A sales professional should always aim to close the deal as soon as both the parties accept the terms and conditions.

7.    After Sales Service

  • Make sure customers are satisfied with your service.
  • Find out whether all his demands are fulfilled or not.
  • Be in touch with him even after the deal is over.

 

 

Motivating the Sales Team

Sales Professionals play a pivotal role in generating revenues for the organization. They are the ones who are responsible for product promotion and making a particular brand popular amongst the end users. In simpler words, sales representatives are the true face of an organization.

The individuals representing the sales and marketing vertical must be satisfied with their organization. A sense of belonging at the workplace is important.

Superiors must motivate the sales team from time to time to extract the best out of them.

Let us go through various ways to motivate the sales team:

1.    Regular Interaction

  • The management must interact with the sales team more often to understand their needs and expectations from the organization.
  • The sales representatives must have an easy access to the boss’s cabin at the times of queries. Transparency is essential at all levels.
  • The sales manager must sit with his team once in a week to address their grievances. No issue should be left unattended.
  • Healthy communication between the management and sales team is a good way to motivate the individuals. The sales executives must be aware of the latest developments at the workplace.
  • Take them out once in a while for picnics, outings or dinners. Such activities bind the team members together and motivate them to work as a single unit.

2.    Roles and responsibilities

  • Roles and responsibilities must not be imposed on any of the members. Let them accept responsibilities on their own. It is for the superiors to understand which employee can perform which function in the best possible way. Job mismatch leads to demotivated employees.
  • They should be aware of their KRAs from the very beginning. The management should make it very clear that a sales representative is expected to go out and meet clients. No individual should have unrealistic demands. It leads to problems and confusions later on.
  • A sales professional must be aggressive, smart and a little diplomatic. They must be excellent in follow ups. Impatient individuals find it difficult to do well in sales.

3.    Realistic Targets

  • Targets for the sales team must be realistic and achievable. Don’t ask for anything which you yourself know is not possible.
  • Don’t expect miracles overnight.

4.    Incentives and Monetary benefits

  • Handsome incentive plans go a long way in motivating the sales professionals. Nothing works better than money. Attractive incentive schemes prompt the employees to work hard and make the maximum use of their ability.
  • Performers must be rewarded with attractive gifts, coupons, cash prizes or certificates for them to feel motivated and deliver the same performance every time.
  • Acknowledge the hard work of employees.

5.    Appreciation

  • Appreciation plays an important role in motivating the employees. Praise the ones who perform exceptionally well. A pat on their back can actually do wonders. Let them feel special and indispensable for the team as well as the organization. Give them their due credit.
  • Display their names on the notice boards for everyone to get a glimpse. Give them badges to flaunt.

6.    Involvement

  • Involve the team members in the company’s strategies. Let them participate in important discussions. Don’t criticize their ideas or views.

 

 

Qualities of a Sales Professional

Sales Professionals are the face of an organization. They have the responsibility of making the brand popular and promoting the products amongst the end users.

They help in the successful running of organization by generating revenues and earning profits.

Let us go through some qualities which a sales professional must have:

 

1.    Patience

  • A sales manager needs to be extremely patient. You just can’t afford to be rude to your customers.
  • Clients do need time to believe in you and trust your products. Don’t get hyper and make the client’s life hell. Give him time to think and decide.

2.    People Oriented

  • It is essential for a sales manager to be customer centric. Understand customer’s needs and expectations. Don’t simply impose things on him.
  • Individuals representing the sales vertical need to be caring and kind towards customers.
  • Don’t only think about your own targets and selfish interest’s. One should never misguide the customers. Be honest with them. Avoid telling lies and creating fake stories.

3.    Aggressive

  • A sales professional needs to be aggressive and energetic. Lazy individuals don’t make great sales professionals.

4.    Go-Getter Attitude

  • It pays to be optimistic in sales. Sales professionals need to have a go-getter attitude for the best results.
  • It is really not necessary that all customers would like or need your product. Don’t expect results every time. Remember failures are the stepping stones to success. One must learn from his previous mistakes and move on. Don’t take failures to heart.

5.    Value Time

  • People in sales must value time. Being late for meetings create a wrong impression in the minds of customers.
  • It is a sin to make customers waiting unless and until there is an emergency. Start a little early and make sure you reach meetings on time.

6.    Sense of Commitment

  • A sales representative who is committed towards his work manages to do well and make his mark as compared to others. Commitment in fact is essential in all areas of work.
  • If you have promised someone to meet at 5pm, make sure you are there at the desired venue at 4.45 pm sharp. Don’t make silly excuses. Trust is lost when commitments are taken back. There should be no turning back.

7.    Reliable

  • The customers must be able to depend on the sales professionals. A sense of trust is important.

8.    Flexible

  • A sales professional must know how to change his sales pitch as per the client. Don’t just stick to one plan or one idea.
  • Learn to take quick decisions as per the situation. Be adaptable to changes. People in sales should not be too rigid and demanding.

9.    Be Transparent

  • Don’t hide things from the customers. Transparency is essential to avoid problems later on.
  • Convey only what your product offers.

10.  Diligent

  • Mere sitting at office does not help in sales. One needs to go out, meet people and make prospective clients. Don’t complain if it is too hot or cold outside.
  • A sales professional ideally should spend his maximum time in field to achieve targets in the best possible way.

11.  Good Communicator

  • A sales professional must be a good communicator for the desired impact.
  • Take care of your pitch and tone.

 

 

Different Types of Sales Professionals

A sales professional in a workplace is responsible for meeting the sales targets of the organization and maintaining relationship with the existing and potential clients.

He plays a central role in generating revenues for the organization.

Following are the types of sales people in organizations:

1.    The Diplomat

  • As the name suggests, a diplomat is one who always tries to play a safe game. He hates taking risks in life and accepts things as they come.
  • These people tend to have a casual approach towards work.
  • A diplomat never believes in putting pressure on the customers. If he fails to convince the client in the first attempt, he would never try to do it again. He would simply ignore and try with the next client.
  • Such sale professionals are calm, have an easy going attitude and are never under pressure.

2.    The Rejection Dreader

  • Such sales professionals fear rejections and failures at work. They find it very difficult to accept failures at the workplace.
  • They depend more on cribbing and complaining rather than working and getting results.
  • Such kinds of people fail to motivate themselves and tend to develop a laidback and negative attitude after a single failure.

3.    The Militant Closer

  • As the name suggests such sales professionals are extremely aggressive and can go to any extent to get results.
  • They are only concerned about their targets and results and hardly think about the needs and expectations of the clients. For them the only thing which matters is closing the deal. They hardly bother whether a customer requires a particular product or not
  • In most cases they make the client’s life hell just to sell their products and earn revenues.

4.    The Sales Scholar

  • Such sales professionals believe in lots of research and planning before going for a sales call.
  • They spend their maximum time browsing internet, reading books and newspapers, checking various articles on sales rather than going out in the field and meeting people.
  • Sales scholars put more emphasis on theoretical knowledge as compared to practical exposure.
  • They have an eye on even the minutest details.

5.    The Phony

  • There are certain sales representatives who simply pretend to be client’s best friend. Such people fall in this category.
  • They always speak good and appear to be sugar coated.

6.    The Overcooked Casualty

  • This category involves people who do sales just to earn their bread and butter, not as a passion.
  • Such people chose sales as a profession because they feel it is an easy way to earn money as there are huge incentives involved.
  • Their main motive is to close deals and earn incentives. They do not care much for the customers.

7.    The Professional

  • As the name suggests the professionals are the ones who look forward towards providing the right solution to the clients.
  • They enjoy interacting with people and suggest only what is right and best for them.
  • Professionals ensure clients are satisfied with their service. For them client relationship is of utmost importance.
  • They never get impatient or hyper while attending customers instead suggest them the best available options.

 

 

Role of Communication in Sales Management

Sales Management refers to the art of achieving the sales targets within the stipulated time frame through effective budgeting and meticulous planning. Sales management enables the sales representatives to close sales deals in favour of the organization and eventually earn revenues for the same.

 

Communication plays an important role in sales management. Sales professionals need to be good communicators for the desired impact. In simpler words, communication is the backbone of sales management. It is absolutely not possible to close a sales deal without effective communication.

There must be healthy communication between the sales professionals and the customers as well as amongst the sales representatives.

Communication between sales professionals and external clients

Keep your sales pitch simple and precise. Complicated sales terminologies and jargons confuse the customers. It is important for the customers to understand your products for them to believe in them and eventually purchase the same. The sales professionals must be well aware of the benefits of the products.

Sales professionals must be very careful about their tone of voice. Never be too loud or too soft. Be polite. Make sure you are audible to the customers. Don’t ever be rude to them.

While addressing a group of customers make sure even the individuals sitting on the last bench can hear you properly. Don’t just speak for the front benchers.

One should never interfere when the second party is speaking. Wait for your turn to speak.

Don’t play with words. Convey exactly what your product offers. Fake promises and wrong commitments lead to problems and confusions later on. Transparency is essential for a long term relationship with the customers. Avoid telling lies to them.

Make sure your sales presentation is interesting.

While speaking to the customers over the phone, make sure you are not chewing or eating something. Don’t put the customers on long holds. Never avoid customer’s calls unless and until there is an emergency.

Understand the needs and expectations of the customers and suggest them the best solution.

The customer can ask you any question under the sun and it is your duty to clarify his doubts. Make sure you are well prepared. One should never lose his temper while interacting with the customers.

Include warm greetings in your conversation for a personal touch.

 

Communication amongst the sales team

The sales manager must communicate with his sales team on an open platform for everyone to participate and give their valuable inputs and suggestions.

Transparency must be maintained at all levels for healthy relationship amongst the sales professionals. The sales representatives should be aware of their targets and incentives from the very beginning to avoid confusions later on. Make sure the targets are realistic and achievable.

All important information should be circulated through emails. The related members should be kept in loop for everyone to get the same information. Do not communicate with individuals separately in closed cabins. It gives a wrong message

Each one should have the liberty to express his/her views and participate in decision making process of the organization

The roles and responsibilities of sales representatives must be communicated to them well in advance. They must know what is expected out of them.

Effective communication is instrumental in closing sales deals and maintaining healthy relationship with the existing as well as potential clients.

 

Tips for Successful Sales Professionals

Sales professionals play an essential role in the success or failure of an organization. Their key responsibility areas include promoting a product and making a brand popular amongst the end-users.

Sales representatives earn profits and generate revenues for the organization.

Let us go through some tips for successful sales professional:

  • Understand your product well. Customers would find it difficult to believe you unless and until you yourself are convinced with the product. Know the benefits of your product or service. Sales professionals must be very clear with the USPs of the products for the customers to believe them.
  • Take pride in your profession. An individual should not choose sales as a profession just because it is a quick source of earning money in the form of incentives. Individuals should have a passion for sales. Enjoy your work to the fullest for the best results. Never treat your job as a burden.
  • Sales representatives can’t afford to be impatient. Customers would definitely take some time to believe in you and your product but that’s absolutely okay. It is a sin to shout or ill treat customers. They must be dealt with utmost patience and care. Be kind to the customers.
  • Interact with the customers more often and try to find out their needs and expectations. Be honest with people. Suggest them only what is right for them.
  • Create a target market for your products. Don’t try to sell a flat screen television or air conditioner to someone whose monthly income is rupees ten thousand only. It would be a sheer wastage of time, energy and talent. Understand the purchasing power of the customers.
  • Don’t oversell. One should never irritate the customers. Don’t make their lives hell. Being pushy never leads to closure of deals; rather it leaves the customers’ irritated. Give them time to think and decide. It is good to be aggressive but never cross that fine line.
  • A sales representative must never show his desperation in front of the customers. Don’t show him how badly you need to sell the products to achieve your targets. He has nothing to do with it. If he really needs the product, he would definitely buy it.
  • Be a self motivator. Set a goal for yourself and try to achieve the same in the best possible way. Give your heart and soul in each deal.
  • Avoid adopting a casual attitude. Don’t go casually dressed for sales meetings. Clients will never take you seriously.
  • Be a good communicator. Take care of your pitch while speaking to the customers. Avoid being too loud or too soft. Make sure you are audible and the customers understand you.
  • Convey what your product actually offers. Lies and fake stories cost later.
  • Don’t be afraid of the targets. Accept them only when they are realistic and achievable.
  • Sitting in the office doesn’t help in sales. Sales representatives must go out and meet people. Make a list of prospective customers. Exchange contact details and visiting cards to reach a wider audience.
  • Don’t feel bad if you are unable to close a deal. Understand where you went wrong and how things could have been a little better. Be your own critic.
  • Be a good listener. Listen to what the second party has to say.

 

 

Role of Attitude and Personality in Sales Management

The art of achieving the sales targets within the desired time frame through effective planning and budgeting refers to sales management.

Effective sales management ensures timely generation of revenue and profitability of the organization.

Sales professionals in simpler words are the face of any organization and have the responsibility of making a particular brand popular amongst the end-users. They are the ones who directly interact with the customers, understand their needs and expectations and try to provide them the best solution.

Attitude and personality play an important role in sales management.

  • Don’t go for meetings with a negative mind. Remember a negative mind leads to wrong thoughts and negativity all around. A cheerful individual spreads happiness all around and leads to a positive ambience at the workplace. It always pays to be optimistic in sales. If one puts his heart and soul in work, the outcome will definitely be in his favour.
  • Don’t go for meetings with a negative mind. Remember a negative mind leads to wrong thoughts and negativity all around. A cheerful individual spreads happiness all around and leads to a positive ambience at the workplace. It always pays to be optimistic in sales. If one puts his heart and soul in work, the outcome will definitely be in his favour.
  • One should always look at the brighter sides of life. Negativity is all in the minds of individuals. Avoid complaining or cribbing over petty issues. The customer might not think along the same lines as you, but that does not mean you can be rude to him. It is important to be polite and kind to them. Understand what they expect from you and your organization and give them the right suggestion. Make them feel comfortable.
  • One can’t achieve results everytime. It is absolutely okay if one customer does not agree to your presentation and prefers your competitor’s offerings. Don’t take failures to heart. Remember failure is just the opposite of success. Never lose hope; instead find out the causes of failure and move on. There is no point crying over spilt milk. Be your own critic, analyze the things and find out what went wrong. Incorporate the necessary changes in your sales pitch for better results next time. Go out, meet people and increase your list of potential customers. Develop a strong network. It helps in sales.
  • Sales professionals should never be shabbily dressed as they directly interact with the clients. Avoid wearing casuals as customers would never take you seriously. Follow the professional dress code but make sure you don’t feel uncomfortable. Don’t wear loud clothes to work or for meetings. Ensure you smell good. Foul smell irritates the customer. Do shave before you go for sales deals. Make sure your nails are short and clean. It is essential for sales professionals to look good and clean for the desired impact.
  • Sales representatives ought to be aggressive and have a pleasing personality Individuals with a laidback attitude should not take sales and marketing as profession.

People in sales should have a charismatic personality to attract and influence the customers.

  • Individuals willing to make a career in sales should be extroverts. They should love interacting with people. It is important for the sales representatives to break the ice and gel with the customers.
  • Sales representatives should look confident and sound intelligent. Never show your desperation to the customers. Don’t tell them how badly you need to sell the product to meet your targets.

 

Time Management and Planning in Sales Management

Sales management helps in the achievement of sales targets within defined deadlines through effective planning and budgeting.

Through effective sales management, individuals generate revenues and earn profits for the organization.

It is essential for the sales professionals to understand the value of time. One must fulfill commitments and there should be no turn backs in the same.

Time management and Planning play an important role in Sales Management:

  • Managing time well increases productivity of an individual and also avoids forgetting important things.
  • Time management ensures the completion of tasks at a much faster rate and more effectively.
  • Plan your day well in advance. List out things that are important and need to be done on a priority basis.
  • Prepare a task plan or a TO DO list. Jot down important things against the time assigned for each activity. Try to finish the work within the stipulated time frame. Tick the activities already done and concentrate on the remaining.
  • Develop the habit of using a planner, organizer or desk calendar to avoid forgetting important tasks.
  • One of the best ways to manage time is to be organized. The more you are organized, the more quickly you finish off tasks.
  • Avoid keeping stacks of files and heaps of paper at your workstation. Keep your desk clean and organized. Throw away what you don’t need.
  • A cluttered desk leads to negativity all around and one tends to waste his maximum time in searching documents and files. Put a label on top of each file. Keep the important documents handy.
  • One must not do any work halfheartedly. Make sure you put your heart and soul in work to avoid delays.
  • Human beings are not machines who can work at a stretch. Everyone needs time to rejuvenate. Do take a break for half an hour anytime during the day. Surf internet, logon to facebook, chat with your friends or do anything you like. Don’t think about work during this time. This would help you to concentrate better on work and eventually complete assignments on time. Avoid distractions while working. Don’t interfere in your colleague’s work or roam around at the workplace.
  • Review your own performance regularly. Evaluate whether you have finished your work on time or not?
  • Sales professionals should never be late to meetings. Don’t make the customers waiting. It is always better to start a little early to reach the venue on or before time. Make sure you are there at the venue before the customer reaches.
  • Prepare an action plan as to how a particular task can be accomplished. Adopt a step by step approach. It is important to first finish one task before starting the next.
  • Sales professionals must discuss various options and ideas amongst themselves and devise strategies and techniques to accomplish tasks in the best possible way. Do keep in mind the budgets allocated to each task.
  • Analyze the results and outcomes of previous year’s activities and prepare a business plan. Make sure the business plan is concrete and reflects every individual’s future course of action.
  • Sales representatives can focus more and concentrate better as a result of effective planning. Planning in most cases makes the future secure.

 

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