Is your company the next Starbucks or trending towards Polaroid-like demise? Answer the following questions to find out:
- Are the revenues from any one customer more than 10% of your total revenues?
- Are your gross profits from your top ten customers more than 40% of your total gross profits?
- In the past year, did you find yourself doing less delegating when compared to the previous year?
- Do your salespeople struggle to meet or even exceed sales quotas?
- In comparing the past two years, are you spending more time on tactics versus strategy?
- Besides your sales efforts, does your company rely more on advertising and Internet marketing than on referrals?
- In comparing the past two years, have your gross profits shrunk?
- When your customers demand a rate or fee reduction, do you ever give in?
- Does technology ever interfere with efficiency?
- Do you struggle to retain at least 90% of your staff for at least five year or longer?
Count the number of “no” answers and compare to the scores below.
If you had 10 “no’s”
Your company could teach Starbucks and other great firms a thing or two.
You’re setting a standard that others should follow. Imagine what will happen when you reach a 10, so address that “yes” response immediately.
You’re part of a good company that will only get better if you improve those areas where you answered “yes. ”
While this score is average, the cost of being average is too high and there is lots of untapped potential here. Take each area for improvement and tackle it swiftly and throughly. Profits will increase and employee satisfaction will skyrocket.
There’s lots of room for improvement, so pick the “yes” that appears easiest to address and let the momentum of positive change carry you through the other areas for improvement.