If you're interested in borrowing money, it's
important to show your banker a marketing plan. But have you
considered showing a potential lender a profit plan
Think of the extra capital you can borrow by showing your
lender a realistic picture of your long-term profit
Don't rely solely on traditional sales goals
that are based on the previous year's performance. This
encourages your sales force to coast when those benchmarks
are achieved. Instead, compile some good market projections
and set a higher goal.
Don't confine sales to the sales department.
Train all your employees to spot leads around town.
If the referrals result in extra sales, award those
employees with a small piece of the sales commissions.
If you ask 10 employees what your company does
best, you'll probably get a variety of answers. Conduct a
few meetings and narrow it down. You'll end up strengthening
the company's core operations and boosting the bottom
What products or services should you
eliminate? That's a painful question for many businesses.
Most likely, you and your top managers already know the
answer. Get it out in the open so you can start focusing on
more profitable activities.