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26 May

May’s Food4Thought – Sales

As well as great food, Sales was on the menu as our topic for discussion in May. Throughout the evening we shared our current issues or barriers in terms of sales within our business, and pulling on the experience around the table we were able to give advice and offer some possible solutions. Some of those issues raised are common to most business owners, let me ask you: Are you feeling frustrated that you’re working long hours and not growing? Is your conversion ratio poor? Do you spend hours in meetings with businesses that don’t convert? If you’ve answered yes, don’t worry you’re not alone. Many small businesses don’t have trained sales people, so ensuring the sales process is defined and followed is critical to business success – certainly in the first couple of years. There was a wide range of topics discussed throughout the evening including how to distinguish between a suspect and a prospect, increase conversion rates, what should be the balance of input versus output, what does...

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17 Dec

November’s Food4Thought – business growth indicators

The last Food4Thought dinner of this year took place in early December, marking the end of over 80 hours of peer mentoring and around 1,000 courses of delicious food eaten at 31 dinners. (We didn’t keep a tally of the bottles of wine; that would have been churlish!) The year’s dinners have seen discussions on a comprehensive range of business topics covering all facets of smart business strategy, including business planning, purpose and vision, passion, innovation and product development. We also debated the five core elements of sales, marketing, finance, talent and operations. Having ranged over these subjects throughout the year it was time to knit it all together by talking targets. What metrics do you track for your business? And can you do anything about them if you miss them? Is someone keeping you accountable or if you miss the target do you adjust it down a little for next month? Types of targets Fundamentally there are two types of targets – which the groups all discussed at length....

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