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Casual Articles - How To Improve Management Wins for Winning Business Teams Part 8: Secure Measurable Results
There is fantastic information circulating about fundraising programs. Giving to charities rose by a helpful 11.6% over last year. The word is out that the outlook for giving is extremely positive and upbeat.Isn’t it fantastic that Warren Buffett plans to give the vast majority of his fortune away to charity? Announcements like these help to set a great atmospher
Amidst everyone's busy life, one may, in one time or the other, stop and think-one person has a steady nine to five job, generating a steady income, may want, or wishes that she can stay at home and be with the kids... but has no choice, one must earn, to make a living. Others, may not want to stay at home, but wishes still, could make a larger income and be their own b
Since organizations are in business to make money through various sources of revenue, one would think that management would have a business strategy in place to ensure results are consistently being managed and achieved. Yet, during the last 5 years, what I have learned is that many businesses from small business owners to mid size firms with revenues exceeding $20 million do not have an executable strategic plan. These businesses operate by the seat of the pants philosophy or what I affectionately call spray and pray. (Spray it on the wall or within the organization and hope it sticks or delivers results.)
Imagine for a moment the cost of airline tickets if pilots could just begin to fly and not plan the best route? And, how many airplane collisions would potentially happen without written and filed flight plans? Some executives in management spen
Anyone who has started a business without a lot of start-up capital has faced a vicious catch 22. You have to market your company in order to increase sales, but until sales have increased (and you've received payment) you can't afford to market your business. Fortunately, you've got more options than you realize, after all, more than a few other businesses have gotten
Since organizations are in business to make money through various sources of revenue, one would think that management would have a business strategy in place to ensure results are consistently being managed and achieved. Yet, during the last 5 years, what I have learned is that many businesses from small business owners to mid size firms with revenues exceeding $20 million do not have an executable strategic plan. These businesses operate by the seat of the pants philosophy or what I affectionately call spray and pray. (Spray it on the wall or within the organization and hope it sticks or delivers results.)
Imagine for a moment the cost of airline tickets if pilots could just begin to fly and not plan the best route? And, how many airplane collisions would potentially happen without written and filed flight plans? Some executives in management spe
Are you selling goods or services to commercial customers or to the government? If so, you are probably used to the idea of having to wait up to 60 days to get your invoices paid. However, waiting to get paid can be challenging, especially if you have business expenses that can’t wait. That is where a factoring company can help you.Factoring companies can provid
Imagine for a moment the cost of airline tickets if pilots could just begin to fly and not plan the best route? And, how many airplane collisions would potentially happen without written and filed flight plans? Some executives in management spe
Many entrepreneurs launch a new business without carefully analyzing their financial prospects in advance. They think all they need to do is sell enough of a wonderful product to create a profitable business, but this is rarely the case.A budget, when done correctly, is a powerful tool that will help you make better decisions, and give you a picture of what you
Imagine for a moment the cost of airline tickets if pilots could just begin to fly and not plan the best route? And, how many airplane collisions would potentially happen without written and filed flight plans? Some executives in management spe
Factoring of receivables is an arrangement whereby a company sells its accounts receivables to another company (banks and other institutions) that specializes in buying them and obtains the necessary financial accommodation. It is the most popular method of short-term financing in the US. Factoring offers the following advantages: relief to manufacturers and sellers fro
Measurable results begin with an executable and written strategic plan outlining and delegating who does what by when. Through written goals that embrace the W.H.Y. S.M.A.R.T. goal criteria, measurement and therefore accountability are integrated throughout the business culture.
Some key areas to measure are:
- Weekly and monthly department goals of sales, units sold, etc.
- Number of new clients
- Average sale’s cost
- Number of referrals leading to new clients
- Cost to acquire a client
- Cost to keep a client
- Sales to close ration
- Employees’ attendance and productivity
Each company should construct their own dashboard of key indicators that need to be watched on a daily, weekly and monthly basis. A business dashboard is very similar t
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