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Running Your Business

Updated: July 7th, 2009 11:14 AM EDT

Time Management with the Sales Funnel

Ron Roberts
The Contractor's Business Coach

One of the biggest challenges of running a business is learning how to leverage limited resources. Of all the resources needed for running a successful business, there is only one that can't be bought, borrowed, negotiated or recruited: TIME.

Time never stops. It never takes a holiday. It never goes on vacation. It just marches on.

If you could somehow slow down, or freeze time, you could perform all the work. You could close all the sales. You wouldn't need employees. You wouldn't miss out on good projects.

Obviously, stopping time is not possible so you can't afford to misuse it.

Do you know where time is most often misused?

Chasing work. Specifically, chasing the wrong work.

Most business owners waste tons of selling time. They waste it by failing to give sufficient thought to several questions:

  • Which prospects should we invest our efforts with?
  • Which estimates should we pull together and submit?
  • How much time should be devoted to tracking down new customers?
  • How much time should we spend catering to existing customers?
  • How much time should we spend in the field ensuring our work is meeting our customer's expectations (or, dare we say, wowing them)?
  • How should we monitor the use of our selling time?

Luckily for us, thousands of sales professionals have already discovered that one tool covers these questions. That tool successfully guides the use of selling time. That tool is called the Sales Funnel.

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