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Issuing a report card for your business provides an opportunity to assess your company’s performance in a number of key areas. |
Report card season has arrived so
why not take a clue from the school system and issue an evaluation on
your business? Even if you’re a
market leader, every company can
find ways to improve.
There are no “pass” or “fail” grades
on this report card. Rather, it’s a
way to review key areas of your
company to see if it’s on track with
the “rest of the class.”
Here are some factors to consider when assessing your company’s performance:
- Finances. How does your company’s current bottom line compare to the same time a year ago? If revenues are down, have you implemented any changes to try and improve your fiscal situation? Also, you should know how you compare to your peers. Get a hold of an industry ratio study such as PIA’s created by Harris Margolis.
- Employees. Do you have enough qualified employees to accommodate customers’ requests? Do you have knowledgeable problem solvers on staff?
- Competition. What is your competition doing? Is there any new equipment or capabilities in the marketplace? If so, how do you plan to keep pace?
- Customers. How much long-term repeat business do you have? What types of products/services do customers request most? How safe is your business. If any customer is more than 10% of your business, you will suffer real pain if anything happens to this work.
- Sales Force. Your sales people are on the front lines dealing with customers. Is your sales staff well-trained and knowledgeable about the company’s products and services? Are they winning the jobs they quote? What are your plans for getting the underperformers up to standard?
- Marketing. Are you doing all that you can to bring in more business? Your company could be the very best in its market but if you’re not spreading the word about your capabilities to new prospects, your sales effort will likely fall short.
- Strengths. Take stock of your core strengths and play them up. Look for business differentiators that help you separate yourself from your competition.
- Weaknesses. Analyze your operation from top to bottom. The only way circumstances will improve is by identifying problems and coming up with solutions to overcome those obstacles.
What Can Grow Sales, Inc., Do for You?
At Grow Sales, Inc., we specialize in finding the right marketing mix for each graphic arts client, and making sure it’s executed. Since 1996, we have provided full-service outbound marketing, public relations, web and graphic design and sales support to our clients. With our help, this could be a banner year for your company.
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