Your quarterly sales reviews (QSR) are essential in helping you as a business owner examine your business’ performance and identify its many successes and misses. The process is useful in giving you the information necessary to aid your business in reprioritizing the challenges and opportunities it faces and helps you to create a plan to take action effectively.
However, knowing how to create a quarterly sales review properly can be a daunting task. Below, we have come up with a few questions to ask that will help you identify what you need to do while you are creating your QSR.
Is my business meeting its projections?
One of the first questions you should ask when creating your QSR should be “Is my business meeting its sales projections in regards to revenue and margins?” Whether you are rising above or falling below your projections will be a great teller of how your business is performing. Examining your business in this area is going to inform you whether you should continue or halt your current sales approaches.
How will my business meet its projections?
If while conducting your QSR you find that your business has fallen behind its forecasts, a question you will want to ask and continue to revisit is “How will my company meet its goals?” Identifying your company’s weaknesses and strengths in the pursuit of its objectives is going to aid you in finding new ways for your business to rise above its challenges and continue to succeed.
Are we properly managing our fixed costs?
Another important question to ask while creating your QSR is “How is my business operating its fixed costs, and is it doing it properly?” An example of what to examine is the individuals you have working in your sales department. If you are employing people who are not meeting their goals, you must exam the cost you are spending to keep them employed and examine if it is wise to continue to do so.
How can my business improve?
After examining all the various factors that are involved your business’ QSR, an important question to ask next is “In what way can my business grow?” Or perhaps the question should be phrased as “How can my sales people develop?” Identifying successes and failures are important, and it is also important to identify areas where improvement may take place and then move forward to implement the change.
Knowing the correct questions to ask about your business’ sales performance will help you properly conduct and build your business’ quarterly sales review. The right questions are going to help identify whether your firm received more sales than the previous quarters, its strengths and weaknesses, and tools you can use to increase your business’ sales.
Lastly, if you know of any quality questions that will help other individuals create a more successful QSR, please share them, whether they are complex or simple. Your contribution will assist in creating better businesses for all. If you need any guidance regarding this matter, feel free to contact us.