Regarding Next Year’s Branch Plans
Sit through a day of branch managers’ presentations on: “Next Year’s Plans”. How often do you hear (every year)…
“We are going to (try harder) to: buy a little better, sell a little higher and get more efficient at (various) operational costs and execution of (product-centric) sales promotions.”
Excellent! But, tackle these questions too:
Continue reading 21. Do Your Most Profitable Thing
Global companies have formal enterprise accounts programs. Distributors typically do not. Deploying a team of specialists (to augment the Rep) on the biggest, 1-5%, profit-potential accounts will yield, however, big profit gains, especially in down economies.
A cumulative, customer-profitability ranking report for distributors reveals stats like the top 40% generate about 150% of the financial statement’s profit total. More sensationally, the top 20% customers yield 140%; top 10, 95%; and, – in one case – the #1 account scored 25% of the peak internal profits. Continue reading 20. Untapped Potential Within Enterprise Accounts
The “Digital Haves” (often startups) are eating companies who think “IT” is only about automating past activities to save costs. For more on “Digital Haves”, find free on the net: McKinsey Global Institute’s report: “Digital America: A Tale of the Haves and Have-Mores” (published 12/15).
Continue reading 19. Do you Need/Have a CIO (Chief [Profit] Information Officer)?