Posts tagged with: processes

Why You MUST Track & Measure in YOUR Business

It may seem that I’m beating a dead horse here. The reason I’m putting so much emphasis on tracking and measuring is that so many business owners ‘never get around to it’ and wonder why they are floundering and don’t know what’s working and what’s not working in their business. Without data, you can’t make the best decisions.

The more you refine your systems, processes and procedures to improve results, tracking and measuring help you to:

  • Take away stress
  • Sleep at night
  • Reduce mistakes
  • Make better decisions easier
  • Outsource/delegate any task in your business faster & cheaper when you set up systems to track and measure
  • Increase efficiencies
  • Get more done
  • Move more off your plate
  • Get more time to plan and lead

 

Value of Your CRM in Exit Planning

What is CRM?

Your CRM system is about how you/your company do business with someone else/some other company. It’s about nurturing the relationship between you and the customer/prospect. It gives you a 360 view to better retain every customer. CRM is a tool to cultivate relationships between people.

Effective use of your CRM system as well as the data reports you can generate from it – both add value to your business that a buyer will pay for. Keeping your CRM system up to date and using it for all sales, marketing and support communications provides substantive, client-specific data to back up the forecasts you use in negotiating a price for your business.

  1. Choose the CRM tool that is right for your business – customize it so that it fits your company’s needs/objectives. There are many tools out there like ACT!, SageCRM, Saleslogix, MS CRM
  2. You have to use it to get the ROI from this tool like any other.
  3. Make sure that the data in the CRM software is as up to date as possible – garbage in is garbage out
  4. The relationships are key!  -Really get to know your customer so that you have a 360 degree view of their needs, likes and dislikes

Why use a CRM system and why study the tracking and measuring reports a CRM system can generate for you?

It helps automate and streamline:

  • Building your list
  • Building relationships with prospects
  • Keeping relationships with clients
  • Integrating marketing strategies, such as
    • Email campaigns
    • A-B testing
    • Newsletters/offers/incentives
    • Telephone outreach

Tracking and measuring data can be exported from a CRM system and be used in many systems to build a strong foundation for massive growth.

You Need:

  • Systems
  • Strategy
  • Processes
  • Structure

Do you want to stay a little business, Without a strong, deep foundation?

Do you want to grow a much larger, robust business, With a strong, deep foundation.

Your Business Foundation MUST Have all four:

  • Systems
  • Strategies
  • Structure
  • Processes

in order to grow into. You want to buy, train, install, and apply systems and tools that your company will not outgrow in the next 5 years.

 

Why You Must Institute Systems And Processes

Entrepreneurs by nature resist systemization. As an incentive to implement systems throughout your business, let’s look at the benefits of using systems and processes.

What if you did implement systems to automate and outsource? What outcomes could you expect in your business?

  1. You will stay very organized – that takes away the stress, lets you sleep at night, you’d make fewer mistakes, and then you don’t have to keep it all in your head. How do I know? Because I too know what it’s like to double book clients, to pay a credit card bill late or to have so many things to remember to do, that insomnia would plague me or my blood pressure would spike. All of that subsides and eventually disappears, the more you put systems in place to stay very organized.
  2. You will streamline your activities – when you want to outsource a project, the consultant, expert or advisor can do a better job, faster and cheaper if you are clear from the outset of what you want done.
  3. You will increase efficiencies – It turns out, when you institute systems and processes and stick to them, you increase your efficiency across the board. When you measure these efficiencies, you’ll see time savings and opportunities to get more done. When you apply systems, the third or triple bottom line is that you’ll also save money.
  4. To get more done.
  5. To move things off your plate – When you started your business, it wasn’t because you wanted to go out and take a risk, or to be the next Richard Branson. Like most entrepreneurs you wanted to build a business that would produce the wealth that would support your dream lifestyle of fun, freedom and family. When you institute systems and processes, you and your family will see the 5th benefit. Which is that you’ll be moving more things off your plate – things that you don’t have to do anymore. In spite of our resistance to outsourcing, can’t you feel a big weight coming off your shoulders when you take work off your plate and give it to someone else. That in itself can be a vacation, a taste of your reinvention.
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