Pipeline & Deal Velocity
1-1s matter - invest properly in them
07/10/24, 00:00
Who is it for?
Founders and revenue leaders at B2B SaaS companies trying to improve pipeline quality and deal momentum.
When to use?
When pipeline exists but movement is slow, deals stall, or the cycle time is creeping up.
In any sales team, and in fact I would argue in almost any team, a regular 1-1 is necessary - but too many sales leaders don't make this a structure priority. In sales, it’s almost certainly weekly, although you might…
In any sales team, and in fact I would argue in almost any team, a regular 1-1 is necessary - but too many sales leaders don't make this a structure priority. In sales, it’s almost certainly weekly, although you might drop back to fortnightly if things don’t change too fast in your business and you have individuals who are strong.
What do you cover in the one-one in sales? One of the tricks is to avoid too much repetition. If you have a pipeline review, then you don’t want to be having all the same discussion. However, it is good practice to ensure that your 1-1s are at a different time of week from your pipeline review, so you can have a couple of touch bases on deals.
You will discuss some deals, the things which are tricky, the actions which are outstanding, areas where you can really support your Seller. This is not just helping them with the deal, but helping them learn more generally from the subject you are discussing - every 1-1 can have some degree of personnel development. Note that development does not presume you are fixing something, often it can be reinforcing a positive trait for that Seller.
Have a simple template for this meeting. Two or three key questions which the Seller answers half a day in advance, and, in the same document, the manager puts in any key things they want to cover. This is meeting primarily operational, ensuring that the manager is removing any roadblocks from the Seller and helping them maximise progress.
On a lesser frequency – perhaps once a month or even a little less – you should have a higher level conversation. Not looking at operational details, but looking at how your team member is getting on, are they progressing towards their personal career goals, are they having any particular challenges in the organisation, what feedback do they have for you as a manager, what risk factors do they identify for the business,…? Again, have a template for this (ask me if you would like a starting point that I often use) and ensure that you both prepare in advance.
Not 1-1s, but I also recommend some explicit training sessions on a regular basis.
* Sales skills: Discovery, presentations, engaging the Economic Buyer, negotiations,… * Product updates: have product/marketing keep your sales team closely involved with updates and how to position them * Call reviews: have the team listen to 2-3 call recordings and then share learnings from them.
This should give you a good cycle of training over a month or quarter. Get it in the calendar and be disciplined about making a happen.