You can have the latest and most expensive equipment, amazing staff or a unique and world beating product or service however without this asset you do not have a business. This asset is the key driver of cash for every business which also establishes your business as a saleable (and valuable) entity.
Each year for the past 12 years I’ve been blessed to work with over 500 small, medium and large businesses. Over this time I’ve come to realise that over 95% of them don’t understand what their most important business asset is and it’s costing them serious dollars.
So what is this business asset?
It’s your business’ Marketing and Sales Process
It’s one of those fundamental business elements that is often under appreciated probably because it is so fundamental and easy to take for granted.
In large businesses it’s easy to lose site of the process as individuals become small cogs in a large and unwieldy machine that has morphed into some grotesque apparatus that no longer bears any resemblance to the original process that built the business in the first place. You only have to look at the separation of the Marketing and Sales functions and the barriers that are formed between them to see evidence of this.
It’s a different story in small businesses. These are usually formed by entrepreneurs who are skilled in a particular product or service. Naturally their energies gravitate to activities they now and love which usually isn’t in the marketing and sales arena. In their desperate attempts to generate sales they tend to bounce from one bright shinny marketing and sales bauble to another.
All businesses need to invest in developing, refining and maintaining there most important asset, their Marketing and Sales Process rather than reducing cost usually at the expense of future cash flow and business value. Properly treated your Marketing and Sales Process should have end to end measurements encompassing a range of KPI’s which can be easily analysed for ROI. Do this correctly and you will readily invest in aspects of that give you the best return. In no time your Marketing and Sales Process will turn your business into a reliable and scalable cash generating machine.