converting your revenue targets into cash
TRANSCRIPT
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CONVERTING YOUR REVENUE TARGETS
INTO CASH
Russell Cummings
April 2014
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SIMPLE PLANS AND TARGETS Product Fees $K Customer X Customer Y Prospect Q Industry T TOTAL
Product A $35 1 $35
Product B $15 1 1 1 $45
Service X $5 20 $100
Service Y $60 1 1
1 $180
Package Z $100 1 $100
TOTALS 1 4 8 6 $460
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Product Price per Box
Supermarket Agent Export Direct TOTAL
Premium $35
15,000 5,000 $700,000
Composite $15 3,000 5,000 $120,000
Export Pack $25 10,000 $250,000
Home Delivered $40
1,500 $60,000
TOTALS 15,000 8,000 15,000 1,500 $1,130,000
Big Gaps:
• 8,000 boxes of composite
• 5,000 boxes for Export
• 500 boxes Home Delivered
PRODUCE BUSINESS
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INCOME MATRIX
• Map out the plan
• Work out the gaps in tangible chunks
• Understand the difference between NOW and WHERE
• Work on averages not absolutes
Key elements:
1. Customer/Client Groups
2. Product/Services
3. Av Sales per Unit
4. Units sold
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1. Map your Sales Process
2. Build the pipeline at each
stage
3. Use probabilities to add realism
4. Monitor the pipeline and use it to drive activity – marketing and sales
BUILDING A SALES PIPELINE
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SALES PROCESS
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What are the key steps in your
Sales Pipeline?
EXERCISE: YOUR PIPELINE
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Stage Customer Prob % Revenue Prob Rev $ Pipeline $
Order Client X 100% $100,000 $100,000
Client Z 100% $250,000 $250,000 $350,000
Quote Customer A 50% $100,000 $50,000
Customer C 80% $ 60,000 $48,000 $448,000
Negotiation Client X 20% $100,000 $20,000
Customer A 10% $100,000 $10,000
Customer Q 25% $200,000 $50,000 $528,000
Prospects Customer Y 5% $50,000 $ 2,500
Client D 10% $100,000 $10,000 $540,500
TOTAL 51% $1,060,000 $540,500 $1,130,000
EXAMPLE: SALES PIPELINE
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CONSISTENT MARKETING PROCESS
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Work to targets and sales
pipeline
Build your Sales Skills – SPIN
Selling & Negotiation
Develop a Sales Plan
Rapport, understand issues, provide
solutions, ask for business, negotiate
for objections
Practice, practice, practice
Monitor your Sales performance
EFFECTIVE SALES
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SUMMARY
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Russell Cummings Business Consultant M: +61 414 929 585
W: www.sbdbusiness.com.au E: [email protected]
Thank You