Most economic indicators suggest growth is just around the corner as many businesses and consumers are increasing spending and gaining confidence. Does your company have a plan in place to take advantage of the growing economy? If you don’t, your competitors will. I encourage you to get aggressive and take the necessary steps to building your business. Continue reading Stretch Your Business for Growth in 2013
It’s middle of the year and it’s time to look back at performance in the first half of the year. There are many facets of the business you can review, but I would highly recommend you focus your energies on the following five areas:
1. Assess Yourself – I like to always start with the top (myself) and then work my way through the rest of the organization chart. When I assess myself I look at some key areas, such as:
- Am I focusing on the right priorities and what activities do I let distract my focus?
- Am I properly engaged with my team and reviewing their daily activity to ensure they are focused in the right places – use tools like sales plans, call monitoring, ride alongs with sales reps, providing timely feedback, are my sales meetings on track and helpful?
- Am I creating the culture of success in the business?
2. Assess Your Team – Do I have the right people on the bus? Are there top performers that can use to help bring others along? Are there people that need an improvement plan? I like to quickly rate each team member and identify their strengths and weakness and whether or not they are on track to meet their targets. These high-level ratings will be helpful to assist in providing mid-year feedback as well as help me identify where I need to start putting in place contingency plans or new hiring plans.
3. Assess Your Results – Are we tracking to budget on sales and expenses? How about on the activities that leads to sales? Has anything changed in our close rates for sales or conversion rates or marketing activity that indicates our plan assumptions are correct?
4. Assess the Process – I encourage you to walk through step by step of your sales or marketing process and ask the question – is this step adding value to our customers or our results? If not, eliminate it. If it is, ask the team if there are some things we can do to improve. The goal is to regularly revisit what you do and why you do it to make sure you are laser focused on your goals and your customers.
5. Assess Your Support Teams – In most cases, we all have to rely on other teams or departments to help us be successful. So, once you have focused on your “Circle of Influence” (as Stephen Covey likes to say) and addressed the items in 1-4 that are directly in your control, then take a look at the support you get from other departments. Are there tools or support that you are missing that could be added to improve results? Are there product changes that would help position yourself better in the market? How can you leverage other teams or individuals in your marketing and sales activities to help increase sales?
There are still 6 months to go in the year. Look at all facets of performance in the first half and take an objective look at how to adjust to your efforts to ensure a successful second half!