by: Bill Ringle
Uneven cash flow can cripple or kill your business.
I tell new members of the Franklin 100 Program all the time that to move from the survival to growth mode, they’ve got to give up the wild sales ride.
Somewhere along the way from a six to seven figure revenue, a business leader breaks the feast or famine swings so that cash flow becomes more predictable.
Here are five benchmarks to help you recognize when you’re entering into this phase.
- Everyone in the company knows that they’re responsible to help market, sell, and service. This cultural component is most evident when you can put your hands on a binder of procedures or call up a web page with the same content.
- Sales people follow a shared process. Knowing the process that works for the products or services you sell is crucial. With a shared process comes a shared language the pipeline stages and the subtleties of navigating each stage.
- Sales quotas are discussed and achieved regularly. Quotas are just sales goals, and in a growth organization, they are discussed to be supportive, not punitive.
- The company begins to be aware of its visibility in the community and its industry. You have both the resources and interest in advertising and sponsoring to both enhance your reputation as well as contribute to the well being of the community in which you live and work.
- The company has invested in both tracking systems and training/coaching. The coaching assists with people moving outside their comfort zones and taking on new responsibilities. The system brings accountability to an organization. It’s a sign of company growth and maturity of the owner.
Making sales more predictable is not rocket science, but it does require discipline and a behavior change from almost everyone involved. That change comes easier to a company when its leader models it.
About the Author:
Entrepreneurs can find more resources to build their business at: www.mybusinessgym.com
Bill Ringle works with business leaders from high tech and professional service entrepreneurs in the Greater Philadelphia region and shares the strategies and tools for accelerating growth through my Business Gym with business leaders from across the United States and in 15 different countries.