Wow!

We are delighted to be shortlisted for the British Accountancy Awards РIndependent Firm of the Year, Greater London! 

In the run-up to the awards, we are publishing a series of tip-sheets to help you measure and improve your financial performance. This is the first in the series and focuses on sales.

The importance of systems
To ensure that you are focused in your approach, it’s good practice to set up systems to help you generate additional sales and also monitor and measure how well you are doing in this area. Do you have these systems in place in your business?

– a system for generating more sales leads;
– a system to convert more of those sales leads into clients;
– a system to encourage your clients to buy your additional services;
– a system to encourage your clients to buy more often from you;
– a referral system so that your clients recommend others to you

The importance of measuring and improving your results
You need to measure your results to see what is working in your business. You can use the results to set performance targets for your business. Some measurements to help you monitor your sales performance may include the following:

Performance of sales leads converted to new clients:
Number of new clients / Number of sales leads x 100

Sales growth:
(Current period sales – previous period sales) / Previous period sales x 100

Safety margin:
(Current period sales – breakeven sales) / Current period sales x 100

Referrals:
How many referrals do you receive each month? If most of your clients are referred to you, how can you maximise this and make sure it continues?

If you need some help to measure and improve your financial performance, email us at info@danielsaccountancy.com or call us on 020 3178 8394. We will be delighted to help.

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