The old saying that time is money is actually wrong. Time is actually far more important than money. Time is your most valuable possession. It’s also finite. You only have so many days in a month or quarter. That’s why I am not a big fan of making salespeople fill out laborious sales call reports, activity reports, and other long-winded forms.
However, there is one form that I consider sacred, the forecast. Your forecast is the measuring stick of your credibility. It is the visible amalgamation of all your years of experience, sales intuition, intensity towards your job, and attention to detail. In my mind, a complete, accurate forecast is more than a chore that comes with being in sales, it’s proof you belong in sales. It is also a direct reflection of your character, integrity, and work ethic.
Through the years I have found three basic types of forecasters; exaggerators, sandbaggers, and Heavy Hitters. Exaggerators are happy ear forecasters who take customers’ words at face value. When asked why they have committed a particular deal they will say, “The customer told us they like our solution.” They seem to have forgotten the old adage that “all buyers are liars.”
Other exaggerators are rose colored forecasters who interpret every piece of information in their favor. For example, a customer might say, “We understand your product so there’s no reason for you to demonstrate it.” They’ll interpret this as a positive sign even though all the other vendors are demonstrating their products.
Exaggerators continually paint the future as being so incredibly bright that management is hesitant to fire them. While this quarter might not look so good, the next one is always going to be fantastic. They are so convincing that it takes management several quarters to catch on to the ruse.
Sandbaggers are secretive forecasters who try to get by giving as little information as possible on the forecast. They figure the less information they give, the less exposure they have to management’s questions.
Heavy Hitters forecast per their conscience. Irregardless as to whether they will have a good or bad quarter, they tell it like it is. They ignore the braggadocios, hyped-up forecasts of their teammates and consider it a personal obligation to be honest to themselves, their managers, and the company.
So now it’s time to conduct a quick exercise. Open up your forecast and take a look at all your deals. What type of forecaster are you?
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