Get the Cash
May 11, 2020
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 ...
How Am I Going To Change?
By Bill Phillips, Strategen, Inc. What a time to be a business owner! Your world has changed and no matter what business you are in, things are different today than you forecasted and planned for just a few months ago at the start of the year. As we move forward, your world is going to continue to change and nobody can tell you exactly what it will look like or be like for your business, your employees and your customers. What a challenge. But you are not in business because it is easy or safe. You are in business to make money ...
Setting SMART Goals
With the new year just around the corner, many are working on developing goals and objectives for next year making this a great time to review this process. When developing your goals, is it best to have company goals and department goals that align with the direction you need to head as a company. At the core should be your company Vision and Strategic Plan with Key Performance Indicators (KPI's) that define the direction you want to head. With these in hand, you can develop supporting goals with objectives to drive the direction ...
Managing your Opportunities
The last newsletter discussed the third component of managing the Opportunity Log, knowing the probability that you will get the order when it is placed for each opportunity so you can manage your opportunities and close enough sales to meet your quota. Now that you have an up-to-date Opportunity Log with estimated close dates, status, and probability defined, you and your sales team can plan and execute to maximize results. The key is to be in the right place at the right time and you can use the Opportunity Log to plan where you need to be and who you need to call ...
Do Your Sales People Have Enough Opportunities?
The last newsletter discussed how having and making the sales quota is critical to the success of the organization and individual sales person. The "Individual Sales Plan" we discussed will define the quota that the sales person needs to meet and the way to meet this quota is to close opportunities. The sales persons opportunities will be listed in their Opportunity Log that we discussed last month with a realistic estimated close date, the status of the opportunity within the customer's system and the probability that you will get the order when ...
Do Your Sales People Make Their Quotas?
The last newsletter discussed how critical to success having an "Individual Sales Plan" is for the sales person and can help separate those that sell from those that do not. A key component of this plan is the sales quota. A sales quota is the minimum assigned individual sales target for a specified period expressed in dollars or number of products or services sold. Typically, a sales organization is assigned a yearly sales target, a quota, that they are expected to sell to meet the goals of the Strategic Plan and provide the revenue to fund the balance ...
Key Components to an Individual Sales Plan
The last newsletter reviewed the "conviction to do what is right" and mentioned that "Top Performers" "believe in what they are selling" and are comfortable talking about the features and benefits of their products or service and connecting these to solutions. The concept of "Believe in What You're Selling" is critical to success in sales and can separate those that sell from those that do not. Think about this for a minute, with the right kind and amount of training, sales people can learn the features and benefits of products and services so they are armed with the basic information they ...
W5895 Pheasant Lane 
920-889-6956
