Many companies world-wide want to know how much liquidity is needed to sit out this unpleasant situation and what can be done to reverse sinking profits or rising losses. One of most obvious answers to all of these inquiries is this: Stop careless spending; increase selling!
In times past, sales have been easier to come by; with sufficient revenue income, mediocre sales performance from a few on staff was somehow tolerable. But as sales cycles get longer and purchasing decisions get further delayed, the term ‘mediocre’ gets a whole new meaning in value. Less value. Entire sales floors are taking a deep dive, based on last year’s performance. The fruits of success are hanging much higher in today’s economy, and companies unprepared to meet these new conditions will go on a wild ride in a dangerous and vicious cycle.
Jeff Gitomer is an author/writer, speaker and business trainer.