Whether you’re looking to break in to a new market or just need to bring up your numbers, deciding how to boost your sales is a calculated decision. Building a sales team is time consuming, and buying seems expensive. What is the best move for your company? A few simple questions can help you find the answer.
How much capital do you have available?
Buying a fully built sales team requires a set, time specific investment, while building means putting in an unknown amount over an unspecified time frame. If your annual sales budget is between $150,000 and $350,000, you have the funds to buy an outsourced team. If you’re lucky enough to have a larger budget, you’re in a good place to start building a team.
Why do you need to grow your sales?
Are you attacking new markets? Going after new consumer groups? Increasing capacity to keep up with current sales? Each of these requires you to move at a different pace. When breaking into a new market or consumer group, you will likely need to move quickly. A fully built sales machine provides the speed required, making buying the right option. If you’re looking to increase your sales capacity to keep up with steady growth, you may have more time to build an internal team.
Do you have the resources to build (and support) a sales team?
Many companies misjudge what is needed to build a functional sales force: an effective CRM system and process, continual sales training and mentorship, a marketing automation tool, and integrated website to name a few. These upfront resources must also be maintained, creating the need for a consistent revenue flow. An outsourced sales vendor can provide these resources in one package, integrating them with your current systems. In the end it’s a matter of time. If you lack the initial resources, make sure you can divert from other areas of your business to build up.
How effective is your pipeline management?
Many companies have a “feast and famine” problem, with too much emphasis put on either lead generation or closing deals. If you’re having this problem, consider whether you have the talent to fill these gaps in your pipeline. Do you have individuals dedicated as hunters, closers, and farmers? How about sales training and mentorship? An outsourced sales company can easily provide you with training and specialization, filling in your sales pipeline gaps with qualified leads.
Do you feel stuck in your lead generation and sales process?
There comes a time when what you’ve been doing is no longer working. This is the ideal time to bring in an outsourced sales team. Such a team brings in a new perspective, along with data-driven methods and systems you can’t find internally.
In summary, your business can build if you have…
- A solid sales process and effective pipeline management
- The resources necessary (CRM system, integrated website, marketing automation)
- A scalable workforce that can handle your current demands
- Consistent, long term funding
Your business should buy if you:
- Want to go to market quickly
- Need specialization and training for your sales pipeline
- Cannot divert resources from your current activities
- Are looking for an innovative, outside perspective
Be honest with yourself in deciding whether to build or buy, as you could waste time and money with a bad fit. If you chose to outsource, it’s important to vet your partner, finding one with proven results who you can trust.
At NuGrowth, we realize each client is unique in their needs and work with them to plug in – enhancing what’s working and revamping what’s not. Our CEO, Greg Tillar, said it best: “Companies that choose to work with NuGrowth do so because they are looking for a strategic sales partner, rather than an appointment setter.” To find out more about how NuGrowth can help you attack your sales process with specialization and experienced reps, contact us at 614-388-5811.
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Author: Adam Rapp
Adam serves as account manager for NuGrowth Solutions providing sales and marketing leadership, consultation, and strategy for NuGrowth Solutions and client engagements. In his time at NuGrowth, he has lead several NuGrowth Solutions client engagements driving rapid and scalable revenue growth and ROI for his clients.
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Adam Rapp is SIS’ Product Marketing Manager providing sales and marketing leadership, consultation, and strategy. Adam’s experience includes sales, marketing, new business development, software, and much more.
He has a history of consistent top-level performance and has lead several NuGrowth Solutions client engagements.
Adam received a bachelor’s degree in Business Administration from The Fisher College of Business at The Ohio State University along with a second bachelor’s degree in Russian.
In his free time, he enjoys spending time with his family, reading, volunteering, and many outdoor activities.