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 submitted by Hermi Neisz

One of the questions I hear most frequently is: "How do I earn more commissions?"

The answer is simple. You just have to do one of three things:

1. Increase the number of prospects in your sales funnel.

2. Increase your average commission per sale.

3. Shorten your selling cycle.

Most salespeople pick choice No. 3, but few have a clue what a selling "cycle" is, let alone how to shorten it.

I would say No. 1 is probably the easiest route to take, but few have a system to getting prospects in the first place.

And even if they do have a system, they lack the discipline to stick to it.

No. 2 wins the award for most simple, yet it is definitely the toughest to do.

Here is some insight into all three options.

Sales cycle concept isn't complicated

Let's start with the most popular: shortening your sales cycle. Now sit down, because this concept may upset you.

Your selling cycle mirrors how you buy things in your own life.

Analyze your buying cycle when making a major purchase.

· Do you shop around?

· Do you buy on price?

· Do you research major purchases?

· Do you take time to think purchases over?

· Do you consult others before buying?

If you answered "yes" to any of the above, you are, most likely, vulnerable to prospects who beat you up on rate, shop your proposal, pick your brain for ideas, delay decisions and give you stalls, sob stories and put-offs.

So, how do we fix this?

Change your buying cycle. Learn to be decisive. Make yes or no decisions when buying from other salespeople.

Set ground rules with your prospect at the beginning of your appointment to ensure that a decision will be made at the end of your meeting.

Spend time on right prospects

Now, let's touch on how to increase your average commissions per sale.

You have two choices: raise your commission percentage rate or increase the size of your average sale.

When you establish your goals for the next 12 months, split your prospects and accounts into three categories: elephants, deer and rabbits.

"Rabbits" are small accounts that take some time to close and service, yet yield the smallest commissions. Rabbits are easiest to "kill," but it takes a lot of them to get full.

"Deer" accounts aren't as abundant and are harder to close, but you eat well each time you bring one home.

"Elephants" are the big accounts. They're good in that one elephant will keep you full for months but bad in that they're hard and costly to hunt.

And if you shoot and miss, you could starve in the meantime.

Analyze your sales from last year. What's the ratio of rabbits to deer to elephants? If you wanted to double your income, how must your ratio change?

Most people quickly decide to forgo hunting rabbits and search for more deer, and maybe an elephant or two.

After consistently analyzing the size of the account you're hunting, most "sales black belts" evolve exclusively into elephant hunters.

Prospects are out there

Finally, let's look at how to put more prospects in the funnel. You can work harder or smarter - but not both.

Harder means you'll have to do more prospecting.

Smarter means you'll have to do better prospecting.

Better prospecting involves working with customers who can introduce you to better prospects, establishing measurable daily prospecting goals, and focusing on your behaviors not on results. (For tips on better prospecting, see related item above.)

If you set your goals based on your activities, it will translate into revenue every time.