To help you achieve this year's business goals you should be doing the following:
Evaluate your goals and determine where you're at right now!
If you do not currently use a "Sales Funnel," this is the time of the year to do one … and then keep it up every month!
Set your Sales Funnel up into three groups.
Group One of your Funnel should be current jobs with Amounts of Cash still to be collected.
Group Two should be Estimates you have given and you feel have a 75% chance of closing within the next 60 days. Next to each name put the job total to give you a window into what amount of NEW Cash you will be bringing in by the end of the year.
Group Three should be Estimates you are working on but have yet to present to a client. Remember, nothing makes this list if it will not be presented to someone. If you are working on 10 Estimates at $ 35,000 each, you have $ 350,000 in POTENTIAL work 60 to 120 days out. The next step is to use your experience and make an educated guess of what amount will actually close. DO NOT be over optimistic with this group or you will find yourself with much less work in January through March than you thought you were going to have. 20 to 25 percent is typically a good planning number. Using 25 percent, you could reasonably FORECAST that you will have approximately $ 87,500 in new business coming in next year.
Now that you have a good picture of your cash flow over the next 4 months, compare it to your sales goals for the coming year and compare it to your sales for last year. Is it on target? Below target? You can only make critical advertising objectives if you have a clear forecast of where you will be. Knowing where you are and will be 4 months from now will allow you to begin putting an effective marketing plan together to increase those revenues in 4 months.
By effectively using a Sales Funnel you are able to plan and run your business instead of letting it run you.
It's much easier to put effective marketing strategies in place in the future if you are planning for them now. Failing to plan your marketing strategies and how to spend your marketing dollars can cause you to spend far more than you may need to with poor results to show for it.
In all of your advertisements ensure that you are giving your potential clients a "reason why" they should be calling you. Remember, all remodelers remodel, plumbers do plumbing, etc … but what is it that makes you different? When you answer that, put it in all or your advertising messages. Try to be different so that you stand out from the competition, a true entrepreneur does not follow but instead leads the field.
Remember, knowing what to do is not enough, you must actually DO it! Take new and better actions today. This is a good time of the year to discard the marketing systems that produced little or no results and implement new systems.
Customer Service (and life) Tip for the Week:
Be kinder than necessary, for everyone you meet is fighting some kind of battle.