by Dr Greg Chapman, MBAHere we are at the start of a new year full of hope, planning our businesses for 2011. The first step of this process might be a new Sales Forecast. Perhaps you have decided on a 20% increase in sales for this year as you have determined that this would produce the profit growth objective that you are seeking.
So far, so good. Now comes the part where the rubber hits the road. What are you going to change?
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Over to You. What do You Think? Post Your Comments Below.
Dr Greg Chapman is the Director of Empower Business Solutions and The Australian Business Coaching Club and is Australia's Leading Advisor on Emerging Businesses and provides Coaching and Consulting advice to Australian Small Business Owners in Marketing & Business Strategies Planning & Systems. He is also the author of The Five Pillars of Guaranteed Business Success and Price: How You Can Charge More Without Losing Sales.
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1 comment :
Good point to start the year off with a roll. Rather than select one of those 5 options, why not a few? Increase the number of enquiries (a marketing activity) AND the conversion rate (a selling activity). And put criteria on them before they count. After all, it shouldn't be the NUMBER so much as the quality of that number.
I would suggest you only count an enquiry if it also has the probability of increasing your average sale. Otherwise you may end up by improving one KPI at the expense of another, with the effect of moving away from the desired outcome rather than toward it.
Thoughts?
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