Companies with a Formal Sales Process Generate More Revenue
Companies with a Formal Sales Process Generate More Revenue. This article is singing my song!! I bang on to all my clients – and prospective clients – about the need to have a formal Sales Process and it seems the world renowned Harvard Business Review agrees. So, there must be something in it!
This article is a must read for any Small-Medium Business owner who wants to grow her or his business and wants to ensure the market cap. is at the higher end of the spectrum for their industry – and having formal processes that rely less on the owner to function will help do that. The article focuses on the need to improve the establishment and definition of a pipeline, which is great, but I would go further than that and start the process with a formal qualification process followed by a rigorous bid process and information capture process (usually via a Customer Relationship Management tool, some of which are free cloud-based solutions). This is where I add a lot of value to my clients, helping them build a repository of valuable and ‘mine-able’ information to help them learn things about their approach and build up their IPR in a system rather than in the heads of a few individuals!
Ok, it’s an American article but it’s worth a quick read. You can see it by clicking here.