Sail your business over the shore in 5 minutes

(Part 1/2)

Simplit Team

Learn how to sail your business safely over the shore in 5 minutes

Managing your company reports efficiently and close your financial year. Take a deep breath and dive in to operational reports.

Catch up the complete guide to end your financial year perfectly from here: part 02

There are two kinds of people at the end of the financial year, those who usually anxiously wait for the financial reports to determine how’s their business doing and those others who are already know how they are doing and just waiting for the financial reports to enthrone their efforts. Which one are you? in the next couple of minutes we’ll demonstrate ways to manage businesses day to day in order to be always in the right track.

(1) A long-term and flexible company vision always gives you a head start

You don’t have to be aware of every single detail happens to the departments you have in your company, but you have to anticipate and be aware of the outcome of each one of company’s departments. You have to have a good knowledge for what it takes to measure your business performance, what’s the key indicators for the business overall and for each department separately. Weekly reports gathered in a quarterly layout are good factor that enable you to have the bird-eye look at your business.

If you collected the right reports by the end of the year, you’ll easily close your statements and open up new one also you would have the time to plan the next year based on the early reports you already have. It’s like managing splitting the effort of December at the 360 days of the year.

Daily Time Sheets

 

Weekly
Reports

Monthly
Status
Reports

 

Quarterly
Vision

Semester Eval.

Annual
Stat.

(2) Time management and employee capability are two faces for one coin

Time management:

Let’s start with most valuable asset in your company (Time). Tasks maintained in the right time also, meeting the deadlines always is a good indicator of efficiency and to achieve this dilemma it depends on three things (work environment, quality of the employee and company’s vision).

Employees quality:

The quality of the people you are hiring is one of the reasons that make your workflow moves perfectly, and in the way you planned. Business owner usually strive for people who can work within the payroll budget, without taking into consideration the qualification of that employee. Choosing your idealist candidate isn’t easy but it’s helpful and profitable in the long run.

(3) Sales numbers always feel good to hear. 

Tracking your prospects and closing deals always feels relief to achieve. As we mention in in the steps above you have to acquire your sales reports by the end of every day. Demonstrating these numbers – especially when it's good numbers - on weekly meetings to the whole team, leaves a good impression on employee’s souls and helps to cheer them up.

What should sales report contain?

Whether you are selling a product or a service you should began your report with the big bulk (Total sales number) and ask yourself, does this number meets your target or not. Whether your answer is (yes/no) you should break this big bulk down to demonstrate how this number came up or calculated. Ask who make this difference specific sales team, individuals or globally planed.

Before you begin your analysis, take in mind your selling strategy and the product type. Which type of products do you have? (cash cow products/ strategic products). Your sales unite always speak more than values. Calculate your sales unites internally and demonstrate values externally.

Basically, you should find the following in your sales report:

  • Total sales and total target by values and by unites-

  • Selling methods

  • Sales team / sales persons

  • Annual growth for the same period last year and for the past 5 years if possible

  • Best achiever (Team/person)

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