Never Miss A Heartbeat


July 25, 2017 Facebook Twitter LinkedIn Google+ Working Habits



A business can be described as a living opportunity with a heartbeat for those who have invested their time and money. If the company begins to show signs of irregular patterns in sales and ability to perform for the customer base then something needs to be adjusted in the business practice. Fixes are available when you need a jump start on the business heartbeat. Performing an operation and adjusting your heart valves your body can be brought back from the brink of death. Your business has its heart valves too, cash flow, sales, payroll, debt, and the business plan. All can be adjusted to get your business back on track and performing as you had stated in your business plan.

Cash flow – Was there a price change or a change in the cost of goods that the company did not anticipate. Business cash flow forecasting should be put in place to keep ahead of variations in product cost and sales with deviations built in for customer retention cost when pricing needs to be adjusted.

Sales – Your clues of why you are having irregular patterns can become obvious by back tracking the impact you are seeing now and stepping back day by day to see what the cause was. Did someone change an ad or did the customer have a sour experience with the sales department? Implementing sale testing of ads, or reviewing sales team scripts can be a clean way of weeding out issues before they occur. Test ads with focus groups before launching an ad. Ask your sales team what their script is for communication with the customer and how to improve its effectiveness ending in more sales (And a happy customer too).

Payroll – Are you overpaying or underpaying your employee’s fair market price for their work load. Money is a great motivator for employee’s and lack of it could lead to a work slowdown and produce a dead business quickly. Compare the market salaries to your employee wages and decide carefully on changing wages to motivate employee’s.

Debt – Has your company been working under a debt load out of control and now its crushing your daily operation cost? Take your business debt load and own it with your funding source. Now is a good time to sit down and restructure your debt load to make it part of your business plan and not a choking artery of your business. You may have to change your business funding company to restructure better terms but to keep alive it could be the best choice.

Business plan – This should always be your top business priority on how your company runs day to day and how you’re going to make progress in the sales and essential point profit. Always refer to your business plan on what is next, adjust your plan as needed and always try to add enhancements to your processes to improve your business plan.

 

These quick notes are a nice reference to keep your business heartbeat running smooth but as with a real body keep performing a health checkup of your business to avoid irregular patterns in sales and provide the best level of customer service possible.

Look over these book titles on business planning success then purchase them with our friends at Library User Group

Successful Business Plan : Secrets & Strategies

Succession Planning for Financial Advisors : Building an Enduring Business

The Innovator’s Solution : Creating and Sustaining Successful Growth

Robert Armstrong

American Production Group

Perfect Network Plans



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