I posted a while back on Michael E. Porter's idea that either you can compete on cost or differentiation but not both. How should you make that decision? How will you know if your choice will be profitable? First of all my advice is to NEVER compete on cost as a small company. As Porter … Continue reading Porter’s Five Forces Analysis
Category: Sales & Marketing
All business want to increase sales, profit and cash, but sometimes increasing sales doesn't seem to lead to more profit or cash. This may have something to do with the time it takes convert leads into cash. This is commonly referred to as the Cash Conversion Cycle (CCC). It is formally defined as resources into … Continue reading Simplified Cash Conversion Cycle (CCC)
As a small business owner or a sales manager for a small business you should be able to answer these questions: How big is our sales pipeline both in terms of opportunities and dollars? Given the size of our pipeline what are the chances we are going to hit our monthly sales target? How long … Continue reading Critical Sales Metrics for Small Business