What happened to the glory days of selling, where new prospect opportunities were abundant, dot-com companies were spending money in all directions, and sales organizations exceeded their revenue targets by two, and sometimes, three-fold?
Well, guess what? Economic conditions have changed. With the threat of recession looming on the horizon, new prospects have all but disappeared, existing customers have tightened their budgets, and most of the “low hanging fruit” has already been picked.
Where does that leave sales organizations?
The natural tendency is to panic. With the bottom line in jeopardy, many companies are now scrambling to reduce headcount and cut back on expenses. As a result, edicts have gone out stating that there will be no more off-site meetings, salespeople can only travel when absolutely necessary, and some companies have even put a moratorium on logo golf shirts.