Planning for 2015: here's the best way you can grow your business in the coming year
It’s that time of the year when you review your progress, identify how you performed till now, what market position you established and accordingly decide where to take your business next. You update your business plan with your new strategy in mind and introduce the changes.
Fair enough….every company does the same but very few manage to get any fruit out of it.
Gerry Moran comments -
‘’The endeavor of all the companies are same but how they strategize for the coming time is what differentiates them and sets one section of companies apart from others.’’
Confused? Read further…
As a business owner, you’re always looking to increase profits. And one of the easiest ways to boost profits is by cutting expenses. Even if you’re having a quarter full of no customer purchases, reduced expenditure automatically increases the profits by a meager percentage. So 5 out of 10 businesses perform this exercise at the start of every year (and probably you are one of them).
But isn’t this a regressive step? Is it not that you’re taking your business one step back by controlling the expenses on those fronts where it’s actually required.
Understand: decreasing costs cannot be the solution for your business - Until and unless you see your cash flowing in lump sums in wrong areas.
We suggest: Keep close track of your expenses and cut them whenever seems obligatory. But don’t use it as an easy leeway to up your profits. Your competitors might do exercise these tactics, but you don’t
Rather improve your sales.
Don’t worry it’s not as difficult as reaching the moon (although it seems like). Especially now when you have the best in-class sales management and monitoring tools in the market. And with the introduction of the new-age modern CRMs – you really do not need to look somewhere else. These cloud CRM solutions are integrated with Sales Force Automation (SFA) module that drives sales force performance and profitability. It automates the sales process and frees your sales reps to concentrate on other crucial tasks like creating leads and closing deals.
Cloud CRMs provide one common interface to store and manage complete information details relative to sales opportunities. As a result, it becomes easy for the sales reps to do a quick assessment of the sales opportunities. With insights from the CRM, they get in a better position to improve future deals.
Here’s what Rachel Miller, has stated about her experience of using the CRM -
‘’Using the CRM has put our sales on the accelerator mode. With features like reports and dashboards and fields like sales stage, deal closure probability and expected revenue – sales reps get an exact view of the status and value of the sales opportunities currently in the pipeline. From the respective insights, the sales teams prioritize the leads and modify their approach towards every sale.
Overall, CRM automates and enhances the most crucial process of sales by acquiring, managing and tracking leads through their entire life-cycle
And most importantly – sales team do not work in siloed processes but actually collaborate and share information (via the CRM), eliminating redundancy and aligning goals.’’
So what are you waiting for? This time – make the difference and opt for a progressive step.
Choose to increase your sales instead of cutting down your costs. Remember increased sales will keep your cash registers rolling where you’ll never feel the need to reduce your expenditure.
Patricia is a full time CRM consultant at ConvergeHub and part-time blogger. She has earned herself quite a fame as a specialist and market expert in CRM software. In the last five year she has worked with various companies as CRM consultant to help them move their businesses to cloud. Her expertise lies in offering cloud CRM consultation, CRM customization and integration solutions to small enterprises. For last one she is engaged in building ConvergeHub, cloud-based CRM solution for SMBs, as a consultant.Follow her at Twitter: @convergehub