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When the economy started heading south, most companies fell into
one of two categories characterized by their reactions to and
strategies for dealing with the developing economic conditions.
Business executives in the first group felt there was little
they could do to influence prevailing conditions. Whether by
design or default, they abandoned their "climb to the summit" -
their quest for sales. They set up "base camp" in an attempt to
weather the economic storm and hang on to the business they had.
To maintain some degree of profitability, they trimmed expenses
wherever they could: advertising, marketing, and personnel for
instance.
Business executives in the other
group took a more aggressive stance. They decided to continue
the climb; to forge ahead and do whatever they needed to do to
not only maintain their market position, but to grow it; to
reach the summit regardless of prevailing conditions. They
revamped selling processes to increase efficiency and
restructured selling strategies to increase effectiveness. They
looked for things they could do that would grow revenue and
profit in the near-term while keeping an eye toward the future.
Now that the economy is showing
signs of recovering, the campers must turn their attention to
increasing revenue (since they've already cut expenses to the
bone). They must look for ways to not only capture their share
of the re-emerging market, but they must figure out how to
recapture any ground lost to the climbers. The climbers, of
course, wish to not only maintain their lead, but to increase
it.
Campers and climbers alike are apt
to be operating with fewer resources than they had a year or so
ago. The resulting challenge to growing revenues and profits is
threefold:
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Devise more effective ways to
identify and qualify business opportunities
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Implement more efficient ways to
develop opportunities and bring them to closure
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Strengthen customer relationships
Opportunities abound in the
recovering economy. Do you want your share? If so, ask yourself,
"What am I doing to improve my selling strategies and enhance my
selling skills?" The more detailed your answer, the more likely
it is that you'll get your share ... and perhaps a bit more.
© Sandler
Systems, Inc. All rights reserved.
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