Some management thoughts

by admin

Successful businesses are managed.  The larger a business becomes, the more closely it should be managed.

What does it mean to manage?  Is it a call for increased control?
Actually, effective management is less about control as it is about identifying an outcome, deciding on a plan and agreeing on the information that will measure our progress against that outcome.
The most important aspects of exceptional management are great people and relevant information.
For a business to execute successfully, the leadership should have a clear perspective as to what kind of people they want in the business.  What values do they want every employee in the company to share.
Then, the leadership should have a clear idea of what information they value and how they want to get it.
All business leaders get reports: monthly financial reports, profit and loss statements, etc.  And most managers use those reports to manage the activity of people.
But is that information that will make us successful and that will let the people who the business recruits be successful?
Relevant information lets a leader understand whether the things that are happening in his business will add up the the outcomes that have been set out.
In a sales organization, information becomes incredibly important.  Too often, people use the absence of sophisticated information systems to explain why important information is not available.
Every member of a sales organization should be able to share the following information:
Who are their prospects?
Where do they advertise?
Which of them currently advertise with your company?
Which of them used to advertise?
How many companies are they currently doing business with?
How many, or what percentage, are on a contract and do not need to be sold each period?
What percent have renewed their business?
Who has paid and who hasn’t?
As a result, each business leader should know:
Their market share
Their market penetration
Their current book of business
Their renewal rate.
At any moment.