In March, we talked about developing a business plan. The next step is to Put your Business Plan into Action. First, meet with your team to implement each component and to emphasize the goals, objectives, and principles of your Company. Consistent team planning will help your team stay focused and on point to reach your long-term goals. Consider the following items while implementing your plan.
- Encourage your top 10 – 20 customers to take a customer satisfaction survey and ask for testimonials. This is a great way for you to interact with the customers and provide new intel if there is an issue.
- Track each type of advertisement you use to make sure it is still effective in reaching your potential market with your products and or services.
- Maximize your online presence. This might be an area to outsource to make sure you are up to date with the latest technology.
- Review your cost of goods regularly to determine if you are competitive and your margins are continuing to keep your bottom line positive and growing.
- Check the competition pricing regularly, making adjustments to your pricing as necessary.
- Track your top 20 customers’ percent of total revenue and gross profit to see if it is the same or better than the last three years. Review the order of these customers – have you added or lost business or customers?
Contact us for a one-hour complimentary consultation to learn more about adding value to your business. Next month, we will discuss your organization and operations.