- Posted by Sue
- On 8th December 2022
Some time ago we wrote an EBook ’10 Steps to Taking Control of Your Business’…
The purpose of the book was to help business owners just like you to ‘Take Control’ of the many functions within their business…
To ‘Take Control’ of their thinking which is the real game changer…
Growing a business can be hard work and along the way, you will meet many challenges…
Some minor, some major…
Step #1… Have the right mindset with you (here’s the link if you missed it https://www.mpcforprofit.com/set-1-of-our-10-steps-to-take-control-of-your-business/)
Step #2 … Set Targets https://www.mpcforprofit.com/tip-2-of-our-10-steps-to-take-control-of-your-business/
Step#3… Build a Meaningful Budget https://www.mpcforprofit.com/tip-3-of-our-10-steps-to-take-control-of-your-business/
Step#4… Forecast Your Cashflow https://www.mpcforprofit.com/tip-4-of-our10-steps-to-taking-control-of-your-business/
Step#5… Tune Up Your Sales
Think of your sales like a production line for a moment.
Raw materials in one end, completed items out the other.
In your case, the raw materials are leads, quotes, meetings, and the completed items are accepted jobs, paid invoices, and ultimately cash!
If you want to create more outputs, you need more inputs in the form of leads, meetings and so on.
Marketing aside (we’ll address that separately) you need to make sure there’s less ‘wastage’ at each step of the sales process I’m going to presume you have a documented sales process.
If not it’s time to create one!
You may have heard the term Sales Pipeline, the challenge I have with the term is that if I pour a pint of water into the top of a pipeline, a pint drops out of the bottom.
The same cannot be said for a Sales Pipeline.
Prospects are poured into the top and percentage of those will drop out of the bottom as customers.
This is more in line with a colander.
A leaking bucket.
By mapping all the steps in the process, you can identify leaks in your colander or your loss of leads, quotes and final conversions to customers.
You will also be able to measure, develop and refine what you do at each step to maximise the return at each step.
Think scripts, quote templates, objection handling, responses, email copy, follow up.
These all become valuable (and repeatable) tools you can use to keep as many enquiries as possible advancing along your sales production line and ultimately, creating more revenue, profit and cash for your business and your own bank account!
If you need some help fixing your leaky bucket give me a call I’m here to help…