The Power of Early Investment in Sales coaching & training for a strong start to the Financial Year

As Australian businesses enter the new financial year it’s worth considering what you are doing different to last year to support your sales and revenue growth. During the budgeting phase there’s a strong focus on setting goals, devising strategies, and documenting growth plans. Unfortunately, too many organisations then just expect the same people, with the same tools and training to grow sales and revenue by 15-20%. By proactively equipping your sales team with the necessary skills, knowledge and motivation right from the start, they can hit the ground running, setting a solid foundation for achieving and even surpassing your financial targets rather than waiting for things to go wrong and reacting.

The benefits of investing in sales coaching and training at the beginning of the financial year go beyond monetary gains. It helps create a positive sales culture that cultivates motivated, engaged, and high-performing sales professionals and can help with staff engagement and retention. This investment shows your people you value their professional advancement and are dedicated to providing them with the tools and resources necessary for success.

Here are my “Top Three Tips” for kicking off the new financial year strong:

1. Hold a Sales & Marketing New Financial Year kick off workshop. Use it for team building and to create ownership of the business goals for the year. Get the team to buy into the KPIs and behaviours that are expected for success. Make sure you include the Marketing team to ensure alignment and highlight the impact of sales and revenue on the financial health of your organisation.

2. Identify your key strategies for growth – and wrap a training program around them. For example, if you’re looking to boost sales through cross-selling provide some training, examine case studies where it has worked well, get the team to list their key targets. Critically evaluate the success of these strategies continually and adjust Marketing, activity and training to suit the need.

3. Don’t just manage retrospectively to the numbers. Provide coaching and mentoring to support everyone from the outset. If you wait until people fall behind their confidence drops and assistance feels like performance management not support!

So, don’t leave success to chance. Investing in sales coaching and training at the beginning of a financial year brings substantial benefits to your organisation. It not only sets the stage for improved financial performance by equipping your sales team with the skills they need to succeed but also fosters a positive sales culture that promotes employee satisfaction, collaboration, and growth. The key to success is proactive planning and investing in your most valuable asset: your people.