Gut-wrenching conversations about sales (or lack there of)
I have had some gut-wrenching conversations with business owners about revenue, or lack there of. People make operational decisions based on achieving a certain level of sales. When they don’t materialize, tough decisions lay ahead. The first reaction is to cut expenses – not a bad choice if you know you are overspending in some areas or have under-performers on the staff. Unfortunately, companies rarely cut expenses enough to achieve prosperity. Good revenue has covered up a lot of mistakes. The second reaction might be to redirect resources or even spend more. So if you are lucky enough to work for a company that decides to spend more to increase sales, what do you do? Do you: 1. Implement a highly targeted direct marketing program? 2. Increase advertising (or start)? 3. Hire a new sales person? 4. Hire a public relations firm or add a staff PR person? 5. Refresh the company’s Web site? 6. Conduct market research? 7. Invest in product development? 8. Create a podcast series wi...