The Performance Review
Before you can achieve success, you have to define it.
We hear it all the time. “I need more leads.” “I need to find more clients.” “I need to make more money.” “Can you help me?“
Yes! We can help you! But FIRST, we need to learn about your business. What’s working well, what’s not working so well, how much you want to grow over the next year, etcetera.
The Performance Review at the bottom of this page is how we gather all that information.
I know the form looks imposing but just do your best. Only the top two rows are required, but the more time you put into this, the more you’ll get out of it.
If you want to jump into the performance review right away, just click this link and have at it. The rest of the page just explains all the fields.
If this is all a bit overwhelming and you want to talk to a real live human, that’s great! We 
humans. Just hop on over to our Freemium page where you can book time on either Mark’s calendar or Phil’s calendar. Or just contact us at your leisure.
Last Year / Goal / Year to Date
Like we said earlier, we can’t get where we want to go if we don’t know where we come from. Last Year is where we come from. The Goal is where we want to go. Year to Date is how far along the journey we’ve traveled so far. You’ll see we ask for these three measurements over and over again.
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Sales Performance (Accounting View)
This information should be readily available in your accounting software. It is the bare minimum required to submit the Performance Review so please don’t skip this!
Note that the performance review works backwards from how your business actually runs. We ask about revenue first, then sales, then marketing. In the real world, marketing comes before sales and sales comes before signed deals (and revenue).
We do this because most people are familiar with what getting paid looks like. Once we start defining sales and marketing and other KPIs, it gets harder to track things.
- Annual Revenue – Total sales for the year. Only include closed business – completed transactions or signed contracts.
- Annual Sales Volume – Total number of sales transactions completed.
- Average Sale – Annual Revenue divided by Annual Sales Volume.
Some notes: Remember we’re asking about “top line” sales revenue, not profit. Verbal commitments are not closed business. If you sell a recurring service to a client, that counts as one transaction. If you enter Revenue and Sales Volume, the form will compute the Average Sale for you.
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Sales Performance (CRM View)
Consistently successful companies rely on sales processes to produce consistently positive results. Even if you don’t have a defined sales process within your company, we still need to measure the success of your sales efforts. Unless you already have a system in place for tracking sales opportunities, you might not have this data readily available and that’s fine.
Total Opportunities
For the sake of this exercise, an opportunity is just that – an opportunity to sell something. For the sake of this exercise, let’s just use the number of quotes sent as your total opportunity count.
Put the total number of quotes you sent out last year in the Total Opportunities field.
Opportunity Win Rate (%)
To measure this, we need two pieces of information:
- How many opportunities you had (Total Opportunities)
- How many opportunities you won. In other words, how many sales transactions you had!
Once you have these, just divide Won Opportunities by Total Opportunities and multiply by 100 to find out your win rate:
Won Opportunities / Total Opportunities * 100 = Opportunity Win Rate (%)
For example if you had 100 opportunities last year and closed 30 of them, that’s 30/100*100 = a 30% Closed/Won percent, which is pretty good!
30 Won Opps / 100 Total = 30% Win Rate
If you follow along with the Performance Review form below, the form will do this math for you.
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Marketing Performance
The goal of marketing is to produce leads. A lead is a person who’s let you know they’re interested in your products or services, but you haven’t had a chance to find out whether they’re a good match for you (and vice-versa) yet. MANY companies don’t track this information so don’t worry if you can’t complete these items.
Total Leads – This measures the quantity of leads your marketing efforts are generating. Count the people interested in a discussion with your sales team and put that in the form.
Lead Conversion Ratio – This measures the quality of leads your marketing efforts are generating. Count how often leads turn into opportunities. The form does this math for you.
Sales Cycle Time – The average amount of time it takes to complete your sales process from start to finish. This is usually measured in months.
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Performance Review – Final Notes
For the last time, we realize there are a lot of new terms here. Just do your best and if you get stuck, we have a full explanation of all the terms and how to measure/count each one of them above. If you read the info above and still get stuck, just let us know. We’re happy to hop on a Zoom and walk you through it.
