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Key Takeaways
- When your sales and revenue plan does not add up to next year's revenue target, run a "20 ways to..." exercise during annual planning to generate ideas that fill the gap.
- The exercise has seven steps: define the objective, list the facts, brainstorm ideas, argue against them, let people sell ideas they believe in, organize and vote, then commit and agree on an action plan.
- During brainstorming, allow ideas only and save all concerns for later; a great idea often comes on the back of a weak one, and a "no" or "but" breaks the momentum. Do not stop until at least 20 ideas are on the board, each with a revenue number.
- Voting works best when ideas are numbered, each member gets five or fewer votes, and everyone writes their votes down before any are revealed.
- Never assign an idea to a team member who is not committed to it or does not believe in its value; end the session with a prioritized list and an action plan.
What should you do if you cannot seem to come up with enough sales opportunities to hit the revenue target for next year? This scenario sometimes comes up during an annual planning session. You've built a sales and revenue plan based on assumptions and this year's historical performance, and it does not add up to achieving the revenue target you have set for the next year. And now you are staring at a gap. How do we fill this gap? I suggest you do a "20 ways to..." exercise to come up with ideas to fill this gap using this 7 step guide.
Step 1: Objective?
What do we need to achieve? What are we generating ideas for?
Step 2: Facts?
What do we already know? Just the facts please!
Step 3: Brainstorm Ideas
First, ideas only, save all concerns for later. It is important not to break the flow of ideas. Often, a great idea comes on the back of a weak idea, and if you stop the flow with a "no" or a "but," momentum is broken, and the great idea will not be birthed.
Start with some independent work. Give everyone in the room 5 minutes to come up with 2-3 ideas individually.
Begin putting the ideas on the board. Write down the idea and the revenue opportunity the person believes it has. Do not argue or discuss the numbers, just get a number down. We can discuss in the next part of this process.
Keep going, encourage the team, keep the energy level high.
Don't stop until you have at least 20 ideas on the board.
Step 4: Argue Against
Now's the time for the team to push back and argue against any ideas that are not worthy.
Too hard to do?
Too expensive?
Not enough revenue for the effort? Push back on the revenue value on the board?
Step 5: Sell It to the Team
Are there any ideas that anyone feels particularly strongly about? Your intuition tells you that it is a great idea? Allow people to pitch any idea that they feel passionate about.
Will this help us achieve our long-term goals?
Explain how it ties to your 3-5 year strategic plans.
Step 6: Organize and Vote
Number the ideas on the board.
Give each member 5 or fewer votes to vote for the best ideas.
Have them write down their votes on paper, and wait to hear the votes until everyone has written down their vote.
Tally up the votes.
Step 7: Commit and Agree
Discuss the ideas with the highest votes.
Often times these are the best ideas to implement. But, not always.
Allow a final discussion on the top ideas, and prioritize which ones are going to get done.
Ask the person who will be implementing these ideas for the final thoughts. Be careful not to assign the idea to a team member who is not committed or does not believe in the value that this idea will bring.
Come up with an action plan.
Our coaches have led clients through this ideation process hundreds of times. It is amazing how there always seems to be more than enough ideas on the wall or board to fill or surpass the gap. The ideas and revenues are sitting in the brains of your team. Facilitate it out of their heads, and have a great next year.
Frequently Asked Questions
What do you do when your sales plan does not reach your revenue target?
This scenario sometimes comes up in annual planning: the plan you built from assumptions and this year's performance leaves a gap against next year's target. Run a "20 ways to..." ideation exercise with your team to generate ideas that fill the gap. The ideas and revenue are sitting in the brains of your team; the exercise facilitates them out.
What are the steps of the "20 ways to" exercise?
Seven steps. Define the objective (what are we generating ideas for?), state the facts (what do we already know?), brainstorm at least 20 ideas, argue against ideas that are not worthy, let people sell ideas they feel strongly about, organize and vote, then commit and agree on an action plan.
Why should you hold back criticism during brainstorming?
Because breaking the flow of ideas kills momentum. A great idea often comes on the back of a weak idea, and if you stop the flow with a "no" or a "but," the great idea never gets birthed. Start with 5 minutes of independent work so everyone brings 2 to 3 ideas, write each idea on the board with the revenue opportunity its owner believes it has, and keep going until you have at least 20.
How do you vote on which ideas to pursue?
Number the ideas on the board and give each member five or fewer votes. Have everyone write down their votes on paper and wait to reveal them until all votes are written, then tally. Discuss the ideas with the highest votes; they are often, but not always, the best ones to implement, so allow a final discussion before prioritizing.
Who should own the winning ideas?
Ask the person who will implement each idea for their final thoughts before committing. Be careful not to assign an idea to a team member who is not committed to it or does not believe in the value it will bring. Then come up with an action plan.
Patrick Thean
Patrick is an award-winning serial entrepreneur, a WSJ and USA Today bestselling author, CEO Coach, and Co-founder of Rhythm Systems.
Connect with me on LinkedIn.