success - Turbo Coach, achieve breakthroughs - Brian Tracy

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TurboCoach
7. Reduce your selling costs. We have already mentioned
that an important consideration in gauging the financial
health and the future prospects for any business is the cost of
customer acquisition. Do you know yours?
Examine your sales processes. Do you sell directly or
through independent distributors? If you pay commissions,
are your commission rates optimal—that is, are they high
enough to attract good salespeople and low enough to be
practical? Do you support your sales force or your independent
distributors with excellent marketing collaterals, such
as brochures, catalogs, and the like?
What about your marketing costs? Do you maximize the
return on your advertising and promotion expenditures?
Do you have systems in place to accurately track your
selling costs? If not, you may be enjoying strong growth in
your gross sales revenues but not optimizing the profitability
of each sale.
Continually seek ways to increase your revenues, both
gross and net. Remember, in the highly competitive environment
in which you operate today, there is no such thing as
standing still or maintaining the status quo. You are always
moving. The only question is: Are you moving forward or
backward? The prime determinant of your direction will be
your ability to grow revenues and profits.
Application Exercise
1. What improvements could you make in your products
to make them more attractive and salable?
2. In what ways could you alter or improve your sales
and marketing strategies and processes to make more
sales?