Business Process

Identify the Key Drivers that Contribute to Success

Identify the Key Drivers that Contribute to Success

  Identify the key drivers that contribute to success.  Here’s an example.   ACME Company usually observes the following monthly sales performance: 45 total leads  x 20% close ratio  x $11,667 avg. per sale  = $105,000 ACME would like to double their monthly sales volume so they hire a consultant to drill down and develop a strategic approach to improvement.  The consultant found ACME’s composite performance is as follows: 30 “self-generated leads”  x 10% close ratio  x $10,000 per sale  = $30,000 15 “referred leads”  x 40% close ratio  x $12,500 per sale  = $75,000 The Sales Department consists of a salesman named Joe (who does “cold-calling” and runs 100% of the leads in the field) and a support team that does “cold-calling” only.  Joe and the support team...

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Momentum – Get Some

Momentum – Get Some

When I was in grade school, we used to ride around the neighborhood on our bikes; they were single speed bikes.  When we got to Jr. High school, most of us “graduated” to 10-speed bikes.  What a concept.  Starting from a dead stop with a single speed bike was a big chore.  With the 10-speed bike, it was somewhat easier. You would start out in 1st gear – then systematically move up through each gear as you gained more and more momentum.  When you got to 10th gear – you were able to move a great distance and at great speed with just a single pedal stroke.  The key was to gain momentum – and keep it as long as possible. The same holds true in business.  It’s hard starting out, but with time and experience and a focus on the right business processes and practices,...

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