Follow-Up
January 28, 2021
The last newsletter focused on planning. Now let’s look at the follow-up required to support the KPI’s and your business plan. Following-up is a key component of the sales process and many sales people struggle with it to the extent that some hardly do it. Is it because they do not think it is worth doing? Is it because it takes time to do taking time away from other things they believe are more important? Regardless of why, it is critical to their success that they make following-up a habit. They have done all the work to get in front of ...
Planning
The last newsletter focused on your "KPI's and Dashboards". Now let's look at the planning to support the KPI's. With the start of the new year just a few weeks away it is a perfect time to update or create your Strategic Plan for 2021. You have a Vision for your business and this Vision forms the basis for your Strategic Plan. Write down three or four main strategic initiatives for the overall business and two or three strategic initiatives for each main department that need to be worked on next year to support your Vision. Take these strategic initiatives and ...
KPI’s and Dashboards
The last newsletter focused on "defining your most important measurables, Key Performance Indicators (KPI's)". Now let's look at using Dashboards to manage your KPI's. Dashboards are utilized to summarize details that are important and keep them in a place that is easy to access. For most people today, that is your computer and cell phone. Dashboards should be easy to understand and simple to follow. Great Dashboards provide current status within seconds of seeing them and can be used across the organization. This is the key to success with your Dashboards. Dashboards are created with supporting data that can be investigated ...
KPI’s
The last newsletter focused on "getting ready" for the sales and business that is coming your way as you attack the market and win market share. Now let's look at defining the most important measurables, Key Performance Indicators (KPI's), for your organization so you know current status and can change to take advantage of situations. The definition of KPI is "a quantifiable measure used to evaluate the success of an organization, employee, etc. in meeting objectives for performance". The basis for success with KPI's lies with three concepts in this definition: Quantifiable Meeting objectives Performance For a KPI to be a ...
Get Ready
The last newsletter focused on getting the sales to increase market share. Now let's look at what to do with the new sales and the importance of your people to "Get Ready". Because now is the time to attack and market share is up for grabs you must be able to capitalize on the business when you get it. Your competition is struggling and worried about the future and many companies are reducing head count and making cuts. What a terrible position to be in but not you. Now is the time for attack mode and increasing not cutting. Now is ...
Get the Sales
The last newsletter focused on cash management and the importance of getting cash so you can use it to maintain operations. Now let's look at getting back to business and the importance of your people "Getting the Sales". Now is the time to attack because market share is up for grabs and those that work to take it will get it. Your competition is asleep because they are worried. You need to be in attack mode and go get the sales. Your competition is not making sales calls because they do not think people are talking. But this is more mental ...
Get the Cash
This is a perfect time to look at the impact CASH has on your business. The three most important rules of finance are 1) Get the Cash, 2) Get the Cash and 3) Get the Cash. Knowing where the cash will come from and how you are going to manage the cash should be a top priority that you address every day. There are five sources of cash: Your cash ("hopefully" you have a lot of it) Your Bank/Investors (Lines of Credit and Loans) Your Customers Your Vendors Your Inventory How do you manage your cash to get it when you need it so you can put ...
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