‘The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails’
All companies at some stage of their life cycle will need to re-evaluate their systems, processes and staff. These changes can be small individually or they can be seismic if done together, but those companies that identify and implement at the right time will use it as a tool to continue their growth. Those that don't, often struggle and ... sink.
The best leaders recognise when change is needed and pro actively take steps to manage the change throughout the company.
Here are some signs that highlight the need for change.
- Decline or stall in profit growth – Without review, the cost of sale often grows rapidly, eroding growth margins.
- High Turnover - in both employees and clients
- Old Processes - As the company grows processes must develop too. If not, Inefficiencies can set in and make some people overworked and others underutilised.
- Industry shifts - Many businesses are doing business the same way they were many years ago. New technology is allowing industries to evolve quicker.
- Low Morale– Low morale can spread through teams and effect performance and the bottom line.
- Frequent errors – Mistakes are being made is a result of misalignment, poor communication, and lack of management.
What to do?
One of the highest costs in any business is the overall cost of sale. Scrutinising this function and continually looking for ways to make it leaner and more efficient, will improve output with the same or less resources.
Improvements in sales can have a knock on effect across the business and acts as a catalyst to implement change in other departments.
Breaking down the sales process to smaller steps and reviewing each stage will allow:
- > The lower value add functions to be taken away allowing more focus on revenue generation.
- > Your staff to be better aligned not only based on the roles required but also on their skill set and personality.
- > Technology to be used to automate and drive the sales processes allowing for better metrics and accountability.
For more information on HMC Global’s Sales Optimisation Service contact Senior Associate, Michael Kerr, firstname.lastname@example.org