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Implementing basic business practices

Updated: Feb 17, 2020

Do you have a budget? How about a systematic plan to drive revenue? Are you forecasting to ensure your business is operating efficiently?

Here is a quick review of some areas that 4t Creative can help you with to drive revenue, make sure you are operating efficiently and ensure you are profitable year after year.

Financial Tools and Systems:

Do you have a budget that is more than a static “on the shelf” document? Is there accountability to achieve the budget? Do all department managers have a meaningful portion of their annual pay based on the budget’s achievement?

Are you using cash flow forecasting? Do you know your revenues at least one month in advance? Do you have payroll and other expense allocations for all departments?

Marketing Tools and Systems:

Do you have a written quarterly marketing plan in place to for all revenue sources? Does this plan include seasonal tendencies?

Do you have a dynamic website that has multiple means of gathering data by offering visitors an opportunity to identify themselves as leads for your products and services through downloads, contests, or special offers?

Do you have an active social media program the engages, entertains, and educates?

Sales People, Sales Management, and Sales Training

Do you have a salesperson that is responsible for generating leads and closing sales? Think about the importance of growing revenue. Who specifically is responsible for growing your business?

If you have salespeople, have they been trained? Do they pursue continuous improvement through ongoing education, books, and seminars?

Do you have a sales management tool to capture leads generated externally and from your website and follow those through the sales process to their logical conclusion?

Is there a formal weekly sales meeting being held with all salespeople to review new leads, their sources, their movement through the sales cycle, and objections/roadblocks to gaining the sale?

What is your "Value Proposition”?

Is it quality? or Excellent Service? because its rare to find a business today that doesn't provide at least passable quality and service.

I will have post about this soon and will link to it here.

But the summary of that post is:

You need to look at your value through your customer's eyes. Why would they leave your competition? Not why do you think they should be your customers.

Some examples:

If you are a golf course, great greens is not a difference maker. Everyone has good greens today.

If you are a car manufacturer, safety doesn't separate you from the pack.

If you provide plumbing and heating services, "lowest cost" is not your difference maker.

This is just a start.

These are just some of things you need to consider and have in place if you want to see growth. If you have a handle on all these, that is awesome!

If you don't….

If you aren't doing these things then at least there is some good news.

We can help you!

You won’t need a bunch of expensive new systems. We will work with what you have and by applying sound business practices facilitate improvement.

4t Creative is here to help you develop your strategic marketing plan. Contact us to find out more about our consulting services.


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