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Preparing Your Business For Sales Growth

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Why your sales is not growing?

There are numerous reasons that prevent your sales from growing. Here is a quick checklist to evaluate your business on parameters critical to sales growth.

  1. Market Acceptance : The product or service sold by you must satisfy the need of your target market. This simple rule forms the basis for the acceptance or non acceptance of your product by the market.
  2. Dedicated Sales Team: There must be a dedicated set of people, your sales team, responsible for producing results. In the absence of a dedicated sales team, there will be a void in fulfilling your sales numbers thereby leading to poor growth in sales
  3. Branding & Promotion: Your product or service is only seen in the larger context of your brand. Not having good enough branding is the sure shot way of missing out on the attention of your customers. Eye catching promotions highlighting attractive value proposition complement your market presence and help with engaging customers in first time product trial, good word of mouth and subsequent repeat purchase.
  4. Business Planning: Keeping a tight control on your revenue streams, operational overheads and expenses seems to be a simple exercise in accounting and budgeting, but if not done consistently can have catastrophic effect. By not doing business planning for laying down clearly defined budgets and resource allocation goals can spell serious trouble , eventually leading to decline in sales performance
  5. Research & Development: Not keeping tabs on the changing tastes and preferences of your customers as well as the competitive offers to the market can result in serious strategic marketing gaps adversely impacting your sales growth
  6. Performance Management System: Not being able to measure your performance is a guarantee for poor management controls. Building a robust performance management system and implementing best practices are decisive and potent factors in growing your sales. These must be implemented right from the initial introduction stage to the growth and maturity stages of your business. Not following the right management system would contribute towards lack of clarity on key performance matrices resulting in under-utilization of limited organizational resources. Ineffective performance management would ultimately translate into poor sales performance and growth
  7. Organization Development: Not focusing on building the right organization can lead to big and unsurmountable challenges in growing your sales. The major impact is experienced in the form of poor coordination among different business units, teams and departments leading to continuous fire fighting. This translates into inefficient procurement & production or service delivery schedules as well as missed orders due to poorly coordinated logistics leading to dissatisfied customers and decline in sales volumes.
  8. Technology Upgradation: Having the right focus on adapting to the latest technological advancements can boost efficiency and performance of your business. Missing out on this vital dimension can lead to poor sales growth by pushing your business  into downward spiral of employee and customer disengagement
  9. Learning & Development: A sharp focus on skilling, upskilling and reskilling at all levels of your organization ensures enhanced capability and competence of your team. Competitive advantage of your business arises from the skills of your team in navigating through the dynamic and ever evolving business landscape. Unskilled employees cost many times more, than the actual cost of skilling them, in terms of lost business, dissatisfied customers and compromised brand image.
Author of this post is a business coach & consultant and can be reached for any support needed in growing your sales, by clicking here or filling up our contact form..

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