Double Your Profits In The Next 12 Months
with these Small Business Success Club Tools
1. Profitability Analyser
Most small business owners have a weak understanding of their profitability. Consequently they make poor decisions about their business. This analyser enables you to do a full cost allocation of your Cost of Goods Sold (COGS) and the value of your Assets (through depreciation) as well as ensuring you incorporate your wage into your pricing, so you aren’t always the last to be paid.
This Analyser then becomes a planning tool for your business. Which prices can you raise? What are the cost reduction opportunities? What would be the impact on your bottom line if you increase prices on just certain products and increase the sales on others? This becomes your business model and an instant business plan.
2. Financial Control Tool
The Financial Control Tool enables you to create a Budget to forecast your cash flow, and to measure your progress against it every month. It also provides Key Performance Indicators from the budget so performance can measured in greater depth ultimately putting you in control of your finances. With this tool, you can see instantaneously what’s working and what’s not.
3. Profit Driver Tool
The Profit Driver Tool allows you to see the impact of your marketing on your Gross Profit, and what the opportunities are to increase it. It enables you to see which parts of your marketing are working well, and where the weak links are. The output from this tool is a quantified plan for you to improve your marketing, and enables you to see your progress to achieving your forecast results. This is your marketing dashboard.
4. Sales Pipeline Tool
The Sales Pipeline Tool allows you to see where the bottlenecks are in your Sales Pipeline. It enables you to identify the weakest links, and to fix them and so increase your sales conversion rate. It’s a performance tool for your business’ sales. The output is an easy to read and interpret and an overview of your total business sales performance which also allows at the same time, in depth analysis of this critical part of your business.
5. My Business Systems Tool
Typically as a business grows, systems such as Procedures, Templates, Checklists and Scripts are developed, but in an ad hoc way, and are poorly maintained, and they are often hard to find when you want them. The MyBusinessSystems Tool has been designed to house the systems for your business in a logical, and easily navigable form so you and your staff can quickly find the latest version of the system for which you are looking. It’s also a great training tool for new staff.
6. Marketing and Sales Cost Performance Tool
It’s not enough to know the number of leads you get from each marketing campaign and the conversion rate per sale, you also need to know the actual cost performance of your marketing and the cost of each sale. The Marketing and Sales Cost performance tool enables you to calculate the true cost of each lead and each sale whilst making sure that you include the full costs that go into generating each lead and sale, including those that most businesses forget to include. Objective decisions can then be made on the value of each campaign and whether the sales that are being generated provide a good Return on Investment.
7. Services Segmentation Cost Analysis Tool
Typically a business provides a range of products/services designed for different segments of their market. For example, a Basic, Standard and Premium version of their service. There are likely to be common building blocks for the different Service versions, as well as some elements unique to each version. By analysing the building blocks of each version, not only can proper costing of each can be made, but a clearer view of the value be given to buyers. This will make sales easier, and also enable businesses to better justify price increases, both to buyers, and themselves!
8. Staff Performance Management Tool
It’s important for any business to have regular staff reviews which are structured to support both staff and the business. There are typically two types of performance issues to be addressed, housekeeping issues such as timeliness and appearance, and performance issues that directly impact profitability, such as sales targets and errors in service delivery. The Staff Performance Management Tool provides a structured review process that addresses both types of issues and then links them to an incentive scheme that aligns staff performance with your business results.
9. Action Prioritisation Tool
One of the biggest difficulties faced by business owners and their staff is to prioritise their tasks. With so many things to do and so many distractions, it’s so easy to find that time has slipped away with little to show for it. We end up in Groundhog Day. The Action Prioritisation Tool allows you to determine which tasks are most valuable as well as a way of resolving the conflict between urgency and value. Each day, the priorities will become obvious to you with this tool, and you will be able to set your own agenda by what matters most to you, reducing distractions and massively boosting your productivity.
10. Investment Decision Maker Tool
Do you want to expand your business? Perhaps you want to invest in productivity, or alternatively in a market expansion. How do you decide if an investment in your business will produce the return you need to stay profitable? What if you have a choice of options? How do you measure the options against each other to come up with the right choice? For important investments in your business, it’s critical that you have an objective way of making the right decision. Too often the decision becomes an emotional one, resulting in poor outcomes. The Investment Decision Maker Tool gives you a way of making decisions objectively, making sure that any decision adds value to your business with the right rate of return.
11. Time Analyser Tool
To properly manage a business, it’s important to understand how long the key tasks that comprise your workflow processes take, and therefore cost. If you have a number of staff in similar roles, it’s also important to know how they compare in undertaking similar work. In the case of new staff, you would also like to know how quickly they are becoming as efficient as your longer term employees, and also the impact any training has on your staff. The Time Analyser Tool enables you and your staff, over a period of time where they may be engaged in multiple activities, to track their time in a way that it is automatically analysed for you and presented in a form that is easy to compare between staff and also to make comparisons for the same person over time. This way you will know the cost of your labour that you should be using in your profitability analysis, and to see what training may be needed to lift productivity.
12. Plan Driver Tool
You have developed strategies for your sales, your costs, as well as every other aspect of your operation. You know what your targets are in each part of your business, but how do you manage that? There needs to be some kind of accountability. This Plan Driver Tool starts with your annual KPI’s, and lets you turn them into quarterly, and monthly goals, and then put in place actions for each week that directly drives you to achieve the results you want. It’s an accountability tool that you can share with others, that allows you to see, instantaneously, your progress towards your goals, and which ones need attention. You can use it for your whole business, with an accountability partner, your management team or with individual staff. This tool provides a clear connection between your weekly tasks and your annual goals, helping you drive your business according to your plan right throughout the year.