Management Information |
Know the Source of Business
One of the first questions we ask a prospect or new client is, "How did you get the business you have so far?" Some can answer exactly. Others aren't as certain. When we begin our first discussions with a new client, our preferred modus operandi is to set up a program that allows us to talk to their customers who will give us a comprehensive view of our client's business. If we can't talk to customers right away and find out why they selected our client and what the experience has been, we must rely on the information our client provides us. Business executives who are responsible for business planning should know the source of all their business. Knowing the incoming traffic patterns for new business is critical to knowing how to increase those traffic lanes. A senior partner at one very large and prominent law firm was bemoaning the fact that revenues were slipping, business development was slipping, and partner polish was? well, not very polished anymore. When we asked where they got most of their business he said he didn't know. As a starting point, knowing all sources of business would be of great value to him as he makes business planning decisions for a new year. If you know how and why you got most of your business, you'll have solid clues about how to get more. Another Davis, Kingsley & Company client had been spending considerable amounts of money and energy courting bankers. We assumed those relationships were of benefit to them so we commented to their president, "Bankers must be a reliable source of new business for your firm." His reply was, "The greatest percentage of our business comes from referrals from lawyers." His reply showed me they were not directing their time toward a market that offered the value they need. They were more comfortable building relationships with bankers than with lawyers but it was costing them money and time. Those are misdirected energies. It seemed obvious to us - from our perspective as outside advisors - but it was a blind spot for them. Many companies know exactly where they get their business and who brings it in. And they know that this information may change over time. They have programs and processes to help them focus on those sources to continually audit their business development trails. If you have responsibilities for the growth of the company, do you know specifically where, how and through whom your company derives every bit of its business? Darcie Davis, President of Davis, Kingsley & Company is a management consultant, speaker, author and trainer. She works with companies to secure genuine feedback from their clients before advising them on strategic decisions about sales, marketing, and operations. Her advice will keep your clients out of the jaws of the competition. Learn more about Customer Satisfaction and Feedback Programs offered by Darcie and her firm at http://www.DavisKingsley.com.
MORE RESOURCES: Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting |
RELATED ARTICLES
Truth or Consequences: How to Give Employee Feedback In the bestseller, Good to Great, Jim Collins discovered that, "the good-to-great companies continually refined the path to greatness with the brutal facts of reality."And, in his recent autobiography, Jack Welch reports that he spent about half of his time on people: recruiting new talent, picking the right people for particular positions, grooming young stars, developing managers, dealing with under performers, and reviewing the entire talent pool. Tales From the Corporate Frontlines:The Importance of a Competitive Wage and Benefit Package This article relates to the Compensation and Benefits competency, commonly evaluated in employee satisfaction surveys. It tells the story of a company that needed to attract new employees and discovered how a competitive wage and benefits package was integral to this process. ISO 9001 Registration - 8 Steps for Success You've made the plans, built the quality system and conducted the audit. So how do you register your company as ISO 9001 conformant? And how can you be sure you're getting the most value for your investment? Here's how the process works. It's Not All About Cheese: The Missing Component in Employee Development (Part 2) In part one of this article I told you about how perceptions are changing in the workplace. In part two, I want to tell you more about the "Merge Point Method" and how it helps you create training programs that lead to stronger collaboration between individuals and teams. Building Shareholder Value Through Your People Increasing shareholder value is the most important driver for organisations in the modern business world. Shareholder value is built through growing profit and building confidence in the organisation, which moves share prices upwards. Management - Mary Poppins Style! Mary Poppins describes a style of management which has for too long been hidden in many businesses and organisations.Think about it. Align The Enterprise & Make Beautiful Music Together Q: Why is a great business like a great marching band?A: The players in both organizations are in alignment.Alignment? Yes, Alignment. What You Should Know if People Dont Buy From You and People Dont Visit Your Web Site It is essential to understand what work and what do not work when you run business, especially through Internet. 1. Middle Managers Behaving Badly - How To Stop This Damaging Your Results More and more I hear and read about a looming crisis of leadership at the middle management level and the inevitable resulting increase in, poor performance, accidents and production mistakes and hence declining profits.I'm afraid to say these observations are not just rumours. Marketing Miracle: Outsource Your Creative Services The current economy is causing most companies to tighten their belts. With limited staffing and a restricted budget, how do you continue to promote your business? The simple solution is the occasional or ongoing use of outside resources such as graphic designers, writers, webmasters, and other creative talent. Motivating For Higher Performance Employee motivation is probably the most important single manageable factor for success and profitability of all the facets of specialty store retailing. It is too vital to be handled on a hit or miss basis, depending on the whim or spirit that stirs the store owner or manager from time to time. Quality Standards with ISO 9001 Standardizing Quality SystemsThe ISO, or International Organization for Standardization, was established in 1947 to develop international standards for everything from electronics to management systems. Having over 13,000 standards currently in place, ISO has created the auditing and certification process known as ISO 9001. Reflections in the Glass Ceiling The recent news about one of America's most powerful woman ceo's being removed from office has raised the discussion about gender bias, again. It disappoints me that in 2005, I still hear women clients talking about "the old boys' network". The Devil We Know "I'm in an abusive relationship," sighed Andrew. "My bookkeeper annoys the hell out of me but I just can't let him go. The Most Important Thing Youll Ever Do The wellspring of confidence is belief. When you believe in something, you accept and have conviction about the truth, actuality, or validity of that thing. Creativity Management - The Value of Being Prolific When asked his secret to success, the author Graham Green said that it was down to his always writing 500 words a day. There are real reasons why this philosophy rings true:a) The single best creative product tends to appear at that point in the career when the creator is being most prolific - quality of output is closely related to quantity. How To Decrease Profits Without Really Trying Hurting your sales efforts can be accomplished easily with the proper guidance. The following effective yet simple ideas are designed to generate results when implemented into your sales strategy. How to Say No Rejection hurts. No one likes to give it or to receive it. Making Your Workers Your Partners There is an inherent conflict between owners and managers of companies. The former want, for instance, to minimize costs - the latter to draw huge salaries as long as they are in power (who knows what will transpire tomorrow). How To Use Outsourcing To Beat Your Competition Outsourcing is when you hire outside professionals orservices to take on part of your business workload. Youmay want to outsource part of your work because youdon't have the room, you need an expert, you have periodicbusy periods, or you need more production to get ordersout on time etc. |
home | site map | contact us |