The end of the year is right around the corner. Your ability to make a difference for 2012 is quickly coming to an end. The business advice you need should focus on where is your profitability and what actions should you take to increase that profit. Here are some areas to review:
• Average dollar sale – Is there a way to increase the average amount a customer spends with you? Bundling, increased prices, marketing?
• Awareness – Statistics have proven that over 50% of your customers buy products/services you sell because they don’t know you offer them. How do you talk to your customers? Are they really aware of your full product line? I will be you they don’t – so start changing that today.
• Communication – It seems to be one area that all businesses and teams struggle. Do your customers remember you? Don’t laugh and don’t get defensive. Over 67% of customers go elsewhere because they think you don’t care. As I coach business owners and executives I see a total lack of consistent communication to customers. If you don’t communicate with your customers they will communicate with someone else.
• Team – The joke is sales people need to be retrained daily. Reality is – it isn’t a joke – ask anyone who has been in sales. We must all go back to basics on a regular basis to understand what, how, where and why we sell. What is your training program for yourself and for your team? Who are the sales people in your organization? Yes, there should be someone who is compensated on selling, however every person in your organization is a sales person. Do they know it? How well do they represent you?
This article on business advice from a business coach – started with a plan for profitability for 2012. Now the question is – how well are you planning for 2013? If you haven’t started you should set aside a day for planning. If you want join me for my planning workshop with my clients on December 14th. Check my website for the details www.actioncochadvantage.com
I have already spent probably 2 days reviewing 2012 and planning for 2013. I pay myself, am profitable, take the advice of my own business mentor. I also realize I can do better and that even a 1% increase in profitability helps me achieve my personal goals. How are you doing?