Q4 Quota Strategies

It’s the last day of the 3^rd quarter for those on a calendar fiscal year and like the end of every quarter, a good time to evaluate where we stand and whether we need to modify our strategy for the last 3 months of the year.

You can only be in one of three places from a quota perspective: your numbers are made for the whole year, you’re within striking distance, or you’re running way behind your quota goal.

Consider these strategies based on which category you find yourself:

Numbers in the Bag

If you’ve made your numbers for the whole year: Congratulations! It always feels good to be in this position. You have a lot of flexibility in what you do for the remainder of the year.

If there are big incentives (higher commission percentages, bonuses, recognition) that are meaningful to you, closing every strong opportunity may be a good strategy for you.

But, if that’s not the case, my recommendation is to just make sure you don’t waste the rest of the year. If you need a vacation, be sure to take it.

And, once you’re rejuvenated, get a jump on next year’s business.

You can do this in several ways: gathering client testimonials, developing additional coaches, creating more LinkedIn connections, getting up to speed on new products you think will play a big role in next year’s business, studying your number one competitor, reading more about what’s going on in your niche, and sharpening your skills.

This is probably the absolute best time to raise your game.  

Close to Making Your Numbers 

If you’re within striking distance of reaching quota: Because time is running short, and your close rate probably has to be higher than normal, the most important thing you have to do right away is re-qualify every opportunity you’re working on. You cannot afford to spend much time (if any at all) on low-probability deals.

If you’re too close to them to be truly objective (which we tend to be as salespeople), get a trusted opinion on how solid those opportunities really are. Rank them and focus on closing those where you are best positioned. That might mean delaying, handing off or dropping less-qualified opportunities.

With the time saved by not working lower probability deals you can invest more time on competitive strategy, finding more needs and wants, reaching out to and involving more stakeholders, and more fully utilizing your coaches for the deals you're focused on.

Note: Make sure you get enough rest because you’ll be going full-throttle during the workday.

Pretty Far Behind Goal

If you’re way behind quota: Obviously, this is a tough spot. The key here is not to give up but also not to do something stupid. You can’t sulk or whine. You’ve got to try and salvage what’s left of the year.

But, at the same time, although tempting, you can’t afford to chase bad business. That short-term relief will almost assuredly be replaced by longer-term pain. Those deals tend to be low-margin, tough to support (meaning they gobble up precious resources) and even then because the fit isn’t great, tend not to be referenceable.

What should you do instead? Create a plan on how you’re going to turn this situation around. Get approval from your boss on that plan & execute the heck out of it.

Your two top priorities should be to close well-qualified business and to develop your skills and pipeline for next year. You too need to go full throttle to show your boss and the rest of your organization how much you care. And, if you do it right, that momentum can carry you into next year so you won’t have to be in this position ever again.

Hope this helps.

Until next time…

Bob

P.S. Hurricane Ian hit my area (Sarasota, FL) pretty hard this week. My first one and it was a doozy. Thankfully, we’re all fine and the house, built like an above ground bunker, held firm. Lots of cleanup and lanai screen repair to be done, but nothing compared to others south of us. Feeling very grateful.