In being a business owner, you know how important it is to meet company goals on a consistent basis.
So, are you pretty confident that you in fact are meeting all your company goals?
Falling short of the key ones can be a precursor to seeing your company go out of business if not careful.
Where Should Your Focus Be?
In doing all you can to meet your goals to keep the business healthy and going forward, here are some areas to look at:
- Sales – How have sales been as of late? In the event they could be better, do all you can to see them improve. While slow sales for a while may not be the end of the world, prolonged struggles can be dangerous to your company. If sales have been struggling, try your best to get to the bottom of the matter. It may be your message may not be getting out to the public. You might also have the wrong messengers trying to deliver that message. Having the right employees in the right positions goes a long way. That is in determining how successful a company is going to be. Last, make sure you have the best in products and services to offer consumers to begin with. That goes a long way in separating you from competitors.
- Employees – Speaking of your employees, are you doing all you can to keep them happy and satisfied on the job? If not, this can in fact be detrimental to your company. For example, if you have a sales team in place, be sure they are treated well for their efforts. One of the ways to do that is by offering commissions. As part of offering commissions, be sure you are compliant with any and all rules tied to commissions. That is why it is good to be up to speed on ASC 606 and any other rules related to tracking and reporting commissions. The last thing you want is to not be up to speed or in fact following the rules. Also make it a point to offer growth for employees both in salary and responsibilities. You tend to get and hang on to a better crop of employees when they feel you respect and treat them well.
- Marketing – If you are not doing all you can with marketing, it can be a difficult time of it. This would be when it comes to selling your brand to the public. That said you want to do all you can to get the word out about what it is you have to offer. This means you use all the possible marketing tools at your disposal. From your company’s website to a business app if you have one and more, spread the word. Happy customers can also be useful to help you here. When you do a good job with customer service, odds are a fair number of customers will help spread the word for you.
If you have not been meeting all your business goals, is now the time to change that?