How to Increase Your Company’s Revenue or Gross Income – Part 28

Welcome to LeadEtics® Consults Actionable Business Advice Series.

By knowing the proper technology of the parts of the organization is key to creating and having a prosperous business. And abiding by this business injunction is one sure success factor for your business.

Last week we discussed the seventh (7th) of the three (3) of the twenty-nine (29) parts of the organization that require attention for an organization to exist in fact, and thrive.

We have thus far discussed twenty-one (21) of the twenty-nine (29) parts of an organization. These are 1) Organizing Board or Corporate Structure, 2) Personnel Hat, 3) Communication Lines, 4) Communication Center System, 5) The Basket System, 6) Dispatch Forms, 7) Routing Forms, 8) Inspection Actions, 9) Promotion Actions, 10) Central Filing System, 11) Customers and Visitors Handling, 12) Selling and Sales Actions, 13) Treasury Action of Collecting Income, 14) Treasury Action of Disbursement, 15) Managing Inventory or Store, 16) Generating and Reporting Financial Reports, 17) Handling of Raw Materials or Inputs, 18) Training Personnel, 19) Correcting or Improving Staff Competence, 20) Correcting the Form of the Organization, and 21) Inspecting the Business.

This week we are going to address the following:

1. Reviewing & Handling Failed or Poor-quality Products or Services.

To do this, the organization must have quality standards in the first place. How do you produce your product or service? What are the exact steps that lead to the attainment of the quality you promised to, and are expected by, your clients or customers?

If these quality standards are operational in your organization, then the product or service produced from them must be subjected to review to determine if they conform to the standards. And where any product or service item fails to conform, proper handling to subject the failed or poor-quality products or services to the established standard must be performed.s

Of course, in correcting non-standard products or services, inspection must also focus on input materials, personnel competence, and every factor associated with the production process.

By regularly inspecting and identifying products and or services that failed quality standards, and correcting the product or service and ALL factors associated with the process, you will attain consistent standards of the quality of your products, services, the effectiveness and speed of delivery, and personnel competence and capacity.

2. Handling, Contacting, & Converting Prospects into Customers or Clients

Handling, contacting, & converting prospects into customers or clients by the arts of acquiring, maintaining, surveying, and communicating to the lists (prospects, clients, customers, etc.,) interviewing, closing sales, and delivery of products or services purchased, and obtaining of money in exchange for the product or service.

In previous emails we have discussed in detail the needs and processes of increasing revenue generation through 1) consistent promotion to customers or clients, 2) turning prospects into customers or clients, and 3) sourcing prospects from your target markets. These steps form a genuine part of an organization.

3. Establish and Use Customers or Clients and Partners as Field Distributors or Salespeople

To tap into the capacity that your broader market affords your organization to prosper even further, the establishment and utilization of your customers or clients and partners as field distributors or salespeople is vital.

You will achieve this by:

a. surveying your customers or clients and partners for interest;
b. propose a win-win business proposition to them;
c. communicate your business processes and procedures to their understanding.
d. clarify the values and benefits of your organization and products and or services to them;
e. train, establish, motivate, and incentivize those engaged;
f. directly and systematically utilize them to 1) word-of-mouth inform, 2) consciously promote, or 3) sell your products or services to their friends, family, and prospects in their communities.

Conclusion

In conclusion, we should endeavor to organize our business into a full organization that has all parts in harmonious function.

As we desire to enjoy the fruits of a prosperous organization that we are building, one route to success is to understand the necessity of implementing the parts of an organization as enumerated in the last several posts to date.

Let us continue to strive to thrive!

Babatunde Odutola
LeadEtics® Consults