The Value of a Sales Process When Acquiring Another Firm
Whether you are currently acquiring another firm or want to prepare for a future acquisition, a proven & repeatable sales process will help ease the transition and allow you and your organization to get the most out of the expansion. Having a defined process in place provides value to your organization in several ways beyond just increasing your revenue. Most importantly, it will allow you to meet your clients’ needs and adapt as their needs or objectives change.
At Sebastian Lane Consulting, we believe a proven & repeatable sales process is a necessary component in empowering your employees, business, and ultimately, your clients. We assist our clients by creating and implementing a process tailored to their business and designed to accomplish their objectives. Our experienced and accomplished team is ready to help you prepare for a potential acquisition by developing a sales process that meets your needs and helps you continue to best serve your clients.
The Benefits of a Sales Process
The creation and use of a sales process will benefit any organization, regardless of an acquisition, but it is particularly helpful if you are looking to grow your company. A thorough sales process will serve as a roadmap for the entire journey, from prospecting through closing, and provide guidance on how to reach key milestones along the way.
By instituting a structured sales process, you enable your sales organization to:
Easily train your new employees.
Establish performance metrics.
Drive continuous growth.
Get Your New Employees up to Speed
One of the biggest challenges associated with an acquisition is onboarding your new employees, but you can eliminate many of the common obstacles by relying on your structured sales process. Your new service professionals can onboard faster as there is already a clear and guided learning plan in place designed to help them learn your company-specific methodology and processes.
Over time, your existing employees will develop best practices that can be incorporated into your sales process, resulting in a tailored and refined methodology. Additionally, because your entire organization follows the same roadmap, new employees can lean on your tenured employees’ experience and knowledge as they train.
Manage Employee Performance
When you acquire a new firm, you also acquire a new group of employees that are used to the way things were. This transition, especially when it comes to areas such as performance management, can be challenging. The easiest way to alleviate this challenge is to implement performance metrics that are tied to your sales process. By doing so, you can quickly get buy-in from your newer service professionals and ensure a fair and level playing field for all.
As an added benefit, you’re easily able to track companywide performance, which in turn allows you to adjust your process and services going forward. Continuously learning will enable your organization to evolve with your clients and continue to best serve their needs.
Encourage Continuous Growth
Whether you are acquiring a new firm to expand your product offering, increase your geographic footprint, grow your headcount, or any number of reasons, the addition is aimed at driving growth. As your organization expands, so do your responsibilities, leaving you with less time to oversee your service professionals. If you have an established sales process, you can easily implement it and keep pace as you acquire another firm.
Additionally, you can continue to track your overall company performance and compare it to performance before an acquisition. Without a consistent sales process, it is much more difficult to track both individual and organizational performance.
If You Are Selling Your Company…
While we have largely focused on the benefits of a proven & repeatable sales process for organizations looking to acquire another firm, it can also add value if you are looking to sell your company. A prospective buyer will likely be more interested in your company if it comes with a sales process with a history of demonstrated success. As discussed above, your sales process will help onboard employees faster, provide performance metrics, and allow for sustained growth, all of which are attractive to a potential buyer.
Whether you are interested in acquiring a firm, selling yours, or just want to learn more about the benefits of a proven & repeatable sales process, our experienced team is here to help. To schedule your free initial consultation, call Sebastian Lane Consulting at 443-534-6783 or email us at jesse@sebastianlaneconsulting.com.