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As I record this podcast we’ve got about 3 months left to the end of the year. It’s a good time for reflection and to think about how you may or may not be performing in the 4 key functions of your business. If that intrigues you then this podcast is for you so let’s get into it!
Hi there listener! This is Denise from Super Fast Recruitment and as always you can find a transcription of this podcast over at the website and on the blog and you can download it as well. Today’s subject is about review. It’s about looking at where you may be currently with just a few months of the year remaining on the 4 key functions within your own business.
This was something that was shared with us a number of years ago by one of our mentors and it was about how there are just basically just 4 key functions of a business that you need to be looking at and how you are going to perform in each of those.
They are:
1. Lead generation – How are you bringing leads into your business whether that may be candidates our clients?
2. Lead conversion – How are you converting these leads? Sales or billing? If that’s how you want to talk about it.
3. Service delivery – How are you delivering your services? What services are you delivering? How is that working?
4. Payment – How are you getting paid? What’s your fee structure? What’s your placement structure? How does it all work for you?
I think it’s a really important thing to do at different times of the year. Often we will have a 90-day review. We work in 90-day plans. It’s something that we encourage our clients to do as well. You look at your marketing in that timeframe. As we start to move towards the end of the year, it is good to look at how are we doing against these parameters?
For instance with lead generation – What process or what system are you using currently to bring in additional leads into your business whether that’s candidates or clients? Are there things that you could be doing better? Have you identified a lead source that’s really working for you? Have you actually sat down and looked at what’s working? If you’ve got something that’s working then I suggest you do more if it.
Often what I think happens for us busy business owners is that we get so much into the doing of it that sometimes we don’t take the time to sit back and reflect. What do our numbers say? Let’s look at the hard data here. What is working?
There’s lead conversion – So we are bringing those leads into the business but then what happens to them? How many sales conversations are we having? How often are we out looking proactively for new candidates that we can then sell to our clients? How are we working that? What’s working for us when it comes to that? Is there some upscaling that needs to happen for people? Lead conversion is really important. How is that working for you and how has it been working for you this year? Are there different things that you could be doing?
There’s service delivery – What are the services that you are delivering? How is that working? Are you delivering them in an exceptional way so more people want to work with you? So again, review it. Have a look at it. Is there something different that you could be doing? Are you performing on your own KPI’s when it comes to that?
Of course, there’s getting paid – Are you getting paid on a regular basis? Are there any issues around payments that you have? What’s the fee structure? Are you charging clients 10% or are you charging them 35%? Which particular companies are you working with? Are you leveraging how you are working with them? Are you looking at how you can improve your fee structure?
There are all these key parameters. It’s a really good time to start looking at that because as we move towards the end of the year, you may think “Next year in 2015 (depending on when you’re listening to this podcast), I might want something to do something differently.”
This is Denise just summarizing the 4 functions of a business – lead generation, lead conversion, service delivery and obviously, getting paid. How are you faring in each of those four areas? Do a critical appraisal because that will give you information to help you move forward. This is Denise from Super Fast Recruitment saying bye for now!
This podcast was hosted by Denise Oyston. Follow us on Google+
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