Forget Profit Threshold,Maximise Your Sales

 

 

 

October 08  2013 l ndbs  
   

Every business owner has an ambition to grow the business and expand sales but very few keep focused on this ambition.  There is a lack of consistency when it comes to monitoring sales growth and implementing new strategies or maintain existing strategies that will see company growing in profit.   Below are five ways that will help maximize sales in your business.

1. Don’t Put threshold on profit

Most businesses tend to slow down the moment they reach the set target for a month that even the employees know that once they reach their target they can go on leave or book themselves off the boss will not mind.  Your business will not experience growth if you adopt that modus operandi.  You may have targets to reach but let that not be a ceiling but a landmark.  Press for more sales everyday.   Be controlled by the ringing of the knock off bell than the bank notification on how much has come in.

2. Think beyond personal budget

Doing business is about making profit but if your profit is based on your ten fingers, whereby you are able to count what to do with what you make, you will get into complacency.  The moment you get one client who will be able to place an order through which you can pay your bills you will relax.  The worse case is where you relax even before the client makes the payment and come month end the client fails to pay and you did not pursue sales as you were eying that one client.  Shift your eyes from customers and your personal expenses being met and focus on your product being sold. 

3. Evaluate and monitor your product or service

If you are selling products it is your duty to always check which one is being sold most and capitalize on that.  Make the fast selling stock visible to clients while having promotions on those product that are not selling fast enough.  Rather sell at a discount than give away because it is about to expire.  If your business is about rendering service especially in consulting field you need to send out questionaire to clients to find out if your service is still relevant for them.

4. Do not over praise your sales team

Every business has its strength attached to the sales team and those are the ones who need to be motivated, however, do not over praise them because you will loose focus that even when they misrepresent your brand you won’t reprimand them as you don’t want to hurt the sales.  Even when clients complain about their behavior or ethics you will end up protecting them and you might loose clients in the process.  Create conducive environment for them without compromising company policies.  Recognise their efforts without making other staff members feeling less important in a company.

5. Ditch the despotic attitude

As the owner of the business do not be stiff necked and autocratic.  Make every employee feel comfortable around you without losing their respect.  Once you become accessible you create a room for employees to brief you of anything they see as hindrance to reaching target and go beyond.  Employees know that their salary increase and incentives are tied to the performance of the business which comes through sales of the product.  Some of your employees may not have obtained management position due to lack of qualification but deep inside they have what it takes to lead and tell wrong from right, give them ear and listen.

 

 



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