What to measure to be phenomenally successful in business
What to measure to be phenomenally successful in business
Have you got a KPI List?
You should set up measurement and monitoring of the at least some of, but not limited to the following KPIs. These need to in turn be discussed and reviewed at all of the management meetings. It is vital that you put steps in place immediately to ensure that you as the owner of your business have a business that you are proud of.
* Number and value of leads for the month
* Sales made for the month
* Value and number of new sales
* Value and number of outstanding opportunities
* Referrals gained
* Testimonials given
* No of sales calls per rep
* Number of telesales calls made
* Marketing expenditure for the month
* Customer complaints
* Standard Cash flow reports such a cash, debtors, creditors etc
Are there any standard symptoms, that one can spot, that lead to a lack of business success?
Many nearly successful companies, who have great goals and ambitions like you, however encounter many problems. Some of the key issues that they may be facing are as follows;
* The sales team is converting less than 10% of opportunities into sales.
* There is no process for lead qualification and many leads are falling through the cracks.
* The sales team is not following defined sales processes.
* There is a lack of adequate sales management.
* There is no consistent process for communication between telesales and sales.
* There is no measurement of Key Performance Indicators.
* There is no consistent format for pricing proposals being used.
* There is no process to gauge customer satisfaction levels.
* There is no process to gather customer testimonials
* There is no process to obtain customer referrals
* It is not clear what leads are generated by the marketing spend
Do any of these seem familiar? It is vital that you put steps in place immediately to ensure that you as the owner of your business have a business that you are proud of.
What to measure to be phenomenally successful in business - To learn more about this author, visit Peter Lawless's Website.
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However, there is much more than just finance we need to measure. This article provides list of Key Performance Indicators (KPIs) that every small business should monitor.
Have you got a KPI List?
You should set up measurement and monitoring of the at least some of, but not limited to the following KPIs. These need to in turn be discussed and reviewed at all of the management meetings. It is vital that you put steps in place immediately to ensure that you as the owner of your business have a business that you are proud of.
* Number and value of leads for the month
* Sales made for the month
* Value and number of new sales
* Value and number of outstanding opportunities
* Referrals gained
* Testimonials given
* No of sales calls per rep
* Number of telesales calls made
* Marketing expenditure for the month
* Customer complaints
* Standard Cash flow reports such a cash, debtors, creditors etc
Are there any standard symptoms, that one can spot, that lead to a lack of business success?
Many nearly successful companies, who have great goals and ambitions like you, however encounter many problems. Some of the key issues that they may be facing are as follows;
* The sales team is converting less than 10% of opportunities into sales.
* There is no process for lead qualification and many leads are falling through the cracks.
* The sales team is not following defined sales processes.
* There is a lack of adequate sales management.
* There is no consistent process for communication between telesales and sales.
* There is no measurement of Key Performance Indicators.
* There is no consistent format for pricing proposals being used.
* There is no process to gauge customer satisfaction levels.
* There is no process to gather customer testimonials
* There is no process to obtain customer referrals
* It is not clear what leads are generated by the marketing spend
Do any of these seem familiar? It is vital that you put steps in place immediately to ensure that you as the owner of your business have a business that you are proud of.
What to measure to be phenomenally successful in business - To learn more about this author, visit Peter Lawless's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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