Measuring Profitability

I started working with a client that has been in business for several years.  As with all new clients we reviewed their margins.  What I found wasn’t unusual.  The pricing and quoting process were appropriate.  However, once the sale was complete the margins were often very tight. In this case we educated the sales team to calculate profitability and shifted their incentives to reward profitability. The result was improved gross margin of 6% over a six month period. Sales incentives are a powerful tool for improved profitability. YOUR CHALLENGE:  Take a look at your pricing tools and quoting process.  If it is limited to one person, prone to errors or time consuming, look for options to simplify and build quality into the process.   If you would like further information or you have any questions about this blog, you can email me at pjweiland@actioncoach.com or call 847-739-3079. Please visit www.workingonthebusiness.com to register for our complimentary workshop, 6 Steps to a Great Business, and let’s work together to help your business grow.  

Per-fect Your Hiring

I meet many business owners that dread the hiring process until I introduce them to an alternative way of recruiting team members. I use a recruiting method that compresses the entire interview process into one evening, sells the candidate on the company, while creating an informal environment where the candidate can truly be themselves and allows the hiring team to evaluate the work style of the candidate while accessing cultural fit. Not only is the process efficient, it dramatically reduces hiring mistakes and increases employee retention. YOUR CHALLENGE:  Look at your hiring process as one of the most important things you can do to grow your business, expand your impact and build your culture.   If you would like further information or you have any questions about this blog, you can email me at pjweiland@actioncoach.com or call 847-739-3079. Please visit www.workingonthebusiness.com to register for our complimentary workshop, 6 Steps to a Great Business, and let’s work together to help your business grow.