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| Managing your own destiny... | September 2010 |
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Greetings!
So, who's in control?
There are any number of challenges around right now, where those apparently in control are trying to wrest the initiative from those deemed out of control.
At home, Vince Cable is trying to control the banks; abroad, the Indian government is trying to instil order into the Commonwealth Games debacle. Sports-wise, Hicks and Gillett look set to battle it out between themselves and RBS. No further comments about American owners, though...
Closer to home - are you managing your challenges? Are you really in control? With economists forecasting anything from a 'double-dip' recession to anaemic growth, do you actively manage revenues and costs to improve your profitability? How effectively do you manage processes? Do they fit with your business plan. You do have a business plan...?
This month, we explore doing the right things in the right way, for the right reasons. Your first action is to read this newsletter, and see if anything strikes a chord...
As ever, please share your views on these and other opinions on our 'blog, and read our latest utterances on twitter. |
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Falling Sales; failing operations...
A client story this month, to bring some clarity to what we can do for you. No names, no pack drill, though - they've allowed me to write this up as a Case Study, providing no-one knows who they are...
We were called into help put some order into their Sales operations, with the MD concerned that his pipeline is not being proactively managed, that sales are static, and the Sales and Business Development teams appear to generate more heat than light into improving solid prospects and increasing conversion rates.
So we've introduced a process through which, amongst other things, includes more defined categories along the journey from 'suspect' (someone who fits your 'ideal customer' defi nition, but doesn't yet know about you); through 'prospects' (those who have a need for your products or services, and with whom you have a relationship at decision-maker level) and 'pipeline' (those with meetings booked or proposals completed); to clients, which need no definition other than they've bought and paid for things from you. Oftentimes, though these categories will benefit from further divisions, depending on your type of business, and their relationship with you.
A lack of progress from one stage to another is one way of measuring Business Development activity...and in this case, a way of separating 'busy' from 'effective'.
In each instance, we've reviewed those whp move along the process, and identified the issues that are more likely to reduce the drop-out rates through the development journey. We also ensure that the right materials, contacts, and messages are delivered and undertaken, and appropriate next steps identified. One of which is managing the Terms of Trade alone is a tricky issue, with a recent Court decisions overturning decades of sales practice. Are you covered? Would you like to know? Here's some thoughts for you provided by Keith Lewington of Dunham Law, whom you can contact on 01908 311300 or via email here for further details.
For more details on how to manage change , please email
or call 08448 484853. |
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Process Improvement = more business success!
Are you satisfied? With your operations, or processes, or the time you have to spend continually putting things right? It surprises us how often people profess not to have the time to do things right the first time, but without fail find the time to put things right afterwards!
Recent research shows that those few SMEs who diligently introduce Quality Management Systems and cultures see early payback and fast business improvements.
Although the research shows SMEs to be generally reluctant to spend time on business improvement initiatives, those that do see significant business benefits.
Those who have benefitted from this approach generally followed this route:
- Implemented ISO9001, described by one MD as "the way of retaining and winning business...a means of putting structure in...better organised...these standards are great enablers"
- Brought in LEAN - a set of tools to identify and eliminate waste, useful in manufacturing industry, where it originated, through to service industries, where it is equally helpful in improving what is produced, albeit in different ways;
- Used Six Sigma - a strategy aimed at reducing errors, supplementing the standardisation of appropriate processes and subsequent elimination of waste. One MD is quoted as saying "if it (Six Sigma) is good enough for world-class companies, why would it not be good enough for me."
Whether you choose these formal approaches, or a slimmed down version relying on the same fundamental improvement philosophy, is up to you. But with a YouGov survey revealing an estimated £8.8Bn of wasted time and costs in UK businesses, it may be time to think hard about how you would make that happen.
For a deeper discussion on how a Quality process approach can pay dividends, often in cash terms and more quickly than you might think, contact us here, or call us on 08448 484853. |
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Planning for your future...or reacting to problems?
 Almost half of the UKs SMEs do not plan for their future success - do you?
Recent research from insurance provider Simply Business shows that many business owners are putting their livelihood at risk through ignoring basic business principles, such as keeping tabs on financial matters; unstructured decision-making; and paying lip-service to issues such as HR.
The survey goes on to highlight that 54% have no written business plan - see here for some outline thoughts - and more worryingly, no scenario plans for managing unforeseen change. It's probable that these go hand-in-hand...
The begged question is whether you simply rely on gut instinct to make big decisions affecting your business, and all its stakeholders including your family and staff - or adopt a more reasoned approach, based on measured business planning and thoughtful consideration. Easy for us to say, and harder for you to do, especially when you're responsible for running your business, too.
So, let us help you. Plan for your future. Know where you're going...and take advantage of opportunities passing other less well organised business by. Call us on 08448 484853 or email us here. |
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