Sales - Best Practices

What are Sales?

Sales refer to the revenue earned when a company sells its goods, services, or other property. This is in accounting terms. In general business terms, sales more generally refer to a transaction and process in which money is exchanged for ownership of a good or a guarantee that a service will be carried out.

In order to have a valid sale:

1.Both the buyer and the seller must be competent enough to enter into a contract
2.Both parties must agree on the conditions of the sale
3.The good or service being sold must be transferrable
4.Money or value in return for the good or service paid or promised to be paid

The Difference between Sales and Marketing

-The sales team makes the effort to actually collect the money.
-The marketing team makes the effort to enable and facilitate the sale taking place.

The Sales Cycle

The sales cycle is the step-by-step process beginning with your first point of contact with a customer to closing the deal.

There are many ways of presenting The Sales Cycle, but we think Fits Small Business.com puts it quite nicely when they present it as so:

1.Initial contact: first email, call, meeting
2.Qualification: when you’ve established that this lead has potential
3.Presentation: when you’ve planned the date and time of your proposal
4.Evaluation: when you evaluate the customer’s concerns
5.Closing: when contract is signed or purchase is made
6.Ask for Referrals: when you ask the customer if it would be possible for them to recommend you to others

Keeping track, measuring contribution, and technique can sometimes prove difficult when it comes to sales. This category has been created to help you solve these problems.

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