Behind the Budget
Six actions to make the yearly dream come true
We all have targets to reach from budgets – that is life. Our colleagues, the bank, shareholders etc. expect us to perform according to the numbers agreed.
But what is behind the budget? A wish to do better, last year’s budget, or research about the customers, and how we can create more value?
Reaching targets based on thin air, wishes or history is tough.
Future sales are created through the customers of today and tomorrow – not the past. We can learn from history, and we can have personal dreams, that motivate ourselves, but we need to know why and how we can make business, to take action.
Dreams don’t come true by wishing. Sales people meet strong expectations of making dreams come true. People within sales are very giving and loving, but even sales people need to have more than wishes to work with. They need to know what the dreams are based on, and they need strategies and concrete action plans to succeed.
Strategies and customer needs are not static but dynamic. We learn along the way and conditions might change. If we don’t pay attention to this, we risk running in the wrong direction, and miss the opportunities.
To seize opportunities we need to be motivated. People are motivated by making a positive difference for others. Commission might also be a motivation factor, but only if the targets make sense. Research, strategy and action plans make it easy to understand the point of doing the work, that needs to be done, to make the positive difference for the customers, that will give us the profit in return. It might be a long journey - therefore we need to keep everyone motivated.
So how do we motivate the whole organization to share our dreams, and work hard and smart to make them come true? I believe we have to remember six actions:
- Make the research behind the budget.
- Share the research together with the budget.
- Make the strategy and action plan to succeed.
- Evaluate the strategy and action along the way and adjust when necessary.
- Work in learning circles (see my post about the topic)
- Celebrate the actions taken and the positive reactions received – not just the profit gained.
Research comes before budget and targets – when we set targets for other people, we are obligated to make sure, the targets make sense, and that everyone is motivated to seize them.
Enjoy the upcoming budgeting!
About the blog and me
I love my colorful business life, and the people I share it with. This blog is about my life – I share experiences, thoughts, theories and stories. Why? Because I am a sales enthusiast! Let me know what you think, so we can grow together. I will be happy to see you share my posts :)
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