Just read a list of expensive mistakes that businesses make in Forbes magazine, and one error in particular struck a chord – making wildly optimistic sales forecasts.
One of the recurrent head-in-hands moments for me, is when someone hoping to do business with us says something along the lines of…”If just one person in a thousand who reads our ad places an order, we’ll make…”It sounds logical, it sounds viable but it rarely is. It’s usually based on nothing more than guess work…surely one in a thousand will be easy. Most of the time it won’t.
The bottom line is to always make sure your sales forecasts are based on hard facts rather than what ‘common sense’ tells you what should be a viable response from a big target market. It rarely works the way you expect.
Motivational Quote Of The Day
“If everyone is thinking alike, then somebody
isn’t thinking.”
George S Patton
Alternative Quote Of The Day
“The biggest thing in my life right now is my girlfriend. I love this girl. I know I love her because she told me.”
Adam Ferrara
Are You Doing Too Much?
Sometimes, what seems like a retrograde step turns out to be quite the opposite. When Terri Urbash left her job as a court reporter to start a family, she expected her income to go into reverse, but in fact the opposite happened.
You see, the assignments continued to come in, and because she couldn’t now deal with them personally, she started farming them out to other court reporters. Then a large insurance company was looking to hire a deposition service. Urbash assumed it would go to a national competitor, but she applied for the contract anyway, and she got it. Network Deposition Services has soared since landing the client, expanding throughout Pennsylvania and now moving across the country.
What Urbash discovered perhaps by accident, is that you only start to make some real money when you stop DOING the work and start ORGANISING the work. There are only so many hours you can personally work each day or week, but when you start organising the work of others, you can profit from an almost infinite number of hours worked.
Are you guilty of spending too much time doing it, and not enough time organising it?
Today’s National Day
NATIONAL LAZY DAY!
PUBLISHERS NOTICE
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