Tag Archives: revenue

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training priorities

Move Up, Move Down, Training Priorities

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A fundamental goal of nearly every business is to make money. Even non-profit organizations need revenue streams and outcomes associated with delivery. Do you have time for training? What are your training priorities?

The excuse that is hard to argue is the one that positions against the fundamental goal. Yet, there is a difference between never, and when the time is right.

Starbucks closed its doors yesterday (May 29, 2018) for employee training. In a move that many may criticize as having the wrong priorities, Starbucks appears insistent on change.

Move Up or Down

We filter our to-do lists every day. Some items move up, some move down, and some never seem to get any action. Is this the training plan for your business? Are the best businesses always shipping product or fulfilling services with no time for training?

It may be very tempting to believe that everyone just shows up, rolls up their sleeves, and starts shipping. After all, the business model is well known and the Company doesn’t survive without revenue. Certainly, revenue and fulfillment for today is important.

I would also venture a guess that growth is on the CEO’s mind. Scaling up, more people, more technology, and more costs, which means more revenue is required.

Most organizations don’t get better when they only believe in shipping. Their scale becomes balancing the status quo. Great people don’t join, good people don’t stay, and those who are left without options just continue to ship.

Training Priorities

It seems logical that not shipping wastes time and money. What is the cost of not training? What are your training priorities?

Is training worth closing the doors for a few hours, is it worth rotating some work or training in shifts? What will the outcome be?

Employees typically rise to the competence of the most skilled in their environment. They communicate, get along, and engage at the level of group acceptance.

Quality, service, and caring about the outcomes improves with training. Reducing harmful conflict, having a customer centric focus, and leading the way to future growth happens with advancement, not the status quo.

Most people have a fundamental goal connected with work too, they want to make money.

It seems ironic when the intrinsic goals are similar, that planning to improve employee performance slides so far down the list.

-DEG

Dennis E. Gilbert is a business consultant, speaker (CSPTM), and culture expert. He is a five-time author and the founder of Appreciative Strategies, LLC. His business focuses on positive human performance improvement solutions through Appreciative Strategies®. Reach him through his website at Dennis-Gilbert.com or by calling +1 646.546.5553.


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ranking customers

Ranking Customers: 5 KPI’s Worth Measuring

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Who is your number one customer? What criterion determines top performing clients? Ranking customers may be important if you want to understand more about your marketing and brand effectiveness.

Many business metrics are measured by examining KPI’s (Key Performance Indicators) and sorting top performers by those indexes. Measuring and examining customer performance can consist of many variables and can become quite complex.

Five KPI’s

Let’s consider five basic indicators:

  • Sales Revenue: This one is likely the easiest on the list and one that nearly everyone quickly considers. Sales revenue matters but it likely should never stand-alone. Depending on your business, sales revenue may be quite different from profit.
  • Profit: Measuring by profit may make more sense as compared with sales revenue. When we think about profit, we also have to think about gross profit or net profit. What expenses are applied to your profit calculation? Cost of sales may be another indicator to consider.
  • Lifetime Value: Often represented as LTV or CLTV (Customer Life Time Value) this metric is often overlooked. Many businesses today become focused on the short term at the expense of missing opportunities that may help you weather the storm. Lifetime value can be calculated in many ways. It can also be historic or come from a predictive model.
  • Demographics Score: Typically, there is a sweet spot for every business. In B2B, it may be the number of employees, annual revenue, geographic location, and more. In B2C, it may be things like gender, age, number of children, or household income. The more you know and understand about your demographics the more targeted (and profitable) your efforts can become.
  • Social Presence: Yes, in our modern society social presence may be a performance indicator. While this typically requires some investigative work it may be important to recognize. Some businesses will investigate social presence and assign an estimated value. Depending on your business some customers may be helping (or hurting) your brand.

Highly customized performance indicators may matter for your business. Things like buying cycle or patterns, frequency, and how much you spend to market or advertise. What is your ROI (return on investment)?

Ranking Customers

Typically, the more you know or understand about your customers the better, but there is also a cost associated with ranking customers. Most experts would likely agree that some metrics and measurements are better than not having any.

One final note, remember that customers may also be ranking their vendors, which means you.

– DEG

Dennis E. Gilbert is a business consultant, speaker (CSPTM), and corporate trainer that specializes in helping businesses and individuals accelerate their leadership, their team, and their success. He is a five-time author and some of his work includes, #CustServ The Customer Service Culture, and Forgotten Respect, Navigating A Multigenerational Workforce. Reach him through his website at Dennis-Gilbert.com or by calling +1 646.546.5553.

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