An effective sales strategy is an essential part of building a growing business. A well-thought out strategy lets you make the best use of your resources and ensure a co-ordinated approach across the business.
Your business plan outlines your business strategy and what you need to do to achieve your goals. It helps you think through your options, identifying the best opportunities and how to make the most of them. You can also use your business plan to help convince banks, investors and other key contacts to support you.
Building your business may represent a lifetime of hard work. To get the full rewards, you need the right exit - both financially and as a manager.
Business planning is particularly important for businesses targeting growth. You need to be able to respond quickly to developments in what are often young and fast-moving sectors.
Your sales strategy identifies which customers your business is targeting, how you will reach them, and how you will convince them to buy from you. It sets out your sales forecasts, allowing you to measure performance and see opportunities to improve.
Successful marketing ensures that you have identified your customers’ needs, and worked out the best way to satisfy them profitably.
Poor time management causes stress, longer work days and can stop you meeting customer expectations. This checklist will help you get on top of your schedule.
Benchmarking compares the performance of your business to that of similar firms. At its simplest, it helps you to compare figures and control costs. More sophisticated benchmarking looks at process design and business strategy.
A SWOT analysis means looking at your business’ Strengths, Weaknesses, Opportunities and Threats, so that you can capitalise on what you do well and understand where you might be at a disadvantage.
From describing your market and researching customers to preparing sales forecasts and budgets, learn how to create a marketing plan.
A website lets you put your business in front of a global audience. It will help you find new clients, boost revenue, cut costs and build better relationships with both customers and suppliers.
You need to decide what you want your website to achieve, and plan how to make it successful.