Resolution: A strong will, determination, the state of being resolute, a statement, a vow.
Resolute: Firm, unyielding, determined.
The new year has arrived and with it, New Year’s resolutions of which many will never be realized. Like chocolate milk without chocolate flavor, they fall short - it’s just plain milk. A resolution is only good if one is resolute about it. The idea of missed resolutions happens in everyday business and especially in the sales discipline.
While financial and operational forecasting (budgeting) and managing is common place, this is not so true of sales. There are three common reasons for this:
Never been done (“That’s not how we do things here” or unsure how to go about it).
The forecast is a random number determined by management and left for the individual sales people to make it happen (no input, no strategy).
Individual sales people submit a number without basis and no tools/reports to measure performance (sales are reported after monthly close, are too late to address and lack details).
Still, sales is critical to EVERY business. Lackluster sales performance can mean a slow death to a business. Period. Any of this sound familiar?
As you begin the new year, think about your sales resolution. In its simplest form, it could be to increase sales by “X” %, expand market share by “Y”, etc. Stating a resolution is not enough though. Consider these suggestions when developing your sales resolution (forecast):
Have each individual sales person provides their respective forecast that supports corporate objectives.
Each plan to have a strategy based on SMART (Specific, Measurable, Attainable, Realistic, Timebound) principles.
Management agrees with each plan.
Active (daily) reporting is provided to management and sales people to measure their performance and make any necessary adjustments early (become proactive instead of reactive).
Steps like these will improve performances in efficiencies, sales and profits.
If you seek more help, Business Betterments has developed a proprietary program, GENREV! ™ that addresses these and other business and sales analytics needs. In the coming weeks, they will announce a completely upgraded version of their program including Epicor ERP 10 integration, API compatibility and customization. You can learn more about this program by clicking here.
Remember: A resolution without resolute is, well…yup, chocolate milk without the chocolate.