Why Companies Aren’t making Profit?

• A lot of companies are bewildered as to why there organisations are not profiting as before.I wonder why? Is it that they are doing something wrong.In this blog let’s find out why…..

1)YOU MUST BUILD EMPLOYEE RELATIONSHIPS.

• Firstly,are you taking the time to meet with your employees individually, to obtain their opinions on how the job is going ? One attribute business owners or executives should adapt is to at least once each month or lets’s say each quarter,vastly depending on how fast pace the business is,to simply discuss with their sub-ordinate staff, issues or recommendations,gaining their feedback as to their ideas of how the organization should be going forward as a company.In-addition if they are comfortable with the capacity that they are in,etc.By implementing this strategy making it mandatory, you can gain valuable insights that you will never have known,resulting in a boast to grow the business.

Essentially take into consideration the role of a manager,which is to perform duties like planning and organizing.Planning is required for setting goals and establishing strategies for coordinating activities.It is not a easy task as it is just one individual performing the function.

Do you really think that a manager can really lead a team, if they are not aware what is bothering a employee? For example, having a employee bringing in sales surpassing each quarter targets,on the other hand having a sales manger not even meeting their targets.Unfortunately if communication is not fluent,results will not be seen.One party is not being transparent as to how they manage results over someone else.It is a competition, competing with your co-worker, when you are suppose to be competing with the competitor.Team goals is what a company should be prospering for.Not individual goals.

Furthermore,a business should be like a family,where if someone is lagging behind in terms of developing oneself,you can pull that person up.Haplessly, we are experiencing a dilemma, where employees feels threaten by another worker, for instance one employee may be incapable of selling better than their counterpart,or one employee maybe highly favoured by their superior.Unfortunately executives and business owners will not be aware of this,as they are set to be devoting their time to negotiate contracts or agreements for the business.They rely heavily on the manager to make sure everything is running smoothly,however that don’t always necessarily be happening.

2)LACK OF CUSTOMER CARE can make your business not profit as before.Good customer care, brings return customers and return customers bring referral customers.If you treat your customers bad,they will go to your competitors.Bad customer care has killed a lot of businesses.My solution to you, if you have employ a suitable sales manager to sell your products or services,inaddition to provide regular servicing of the customers,implement a K.P.I incentive for that candidate,in that way you help your employee make some extra cash,building a motivating mindset for your sales manager.In return you shall accomplish timely and speedy delivery of visits to suppliers and prospective clients and build a bonding relationship with suppliers and your sales personnel.

3)A lot of brands COPY OTHERS.

Why is that? this shows that the company does not have creativity.Their marketers or service staff do not have the relevant experience within the field.Do not get me wrong,experience brings knowledge and with the information, creativity presents itself.That should be by then transformed to a ‘think out of the box strategy’ to assist in pushinh company growth.For reference, what may work for one company may not work for another,essentially content creation should be distributed on a regular basis for the potential and existing customers.

4)The LACK OF UNACCOUNTABILITY.

• Managers are being given a budget for the year and during the year money is being spent in the organization,however the sales in each quarter is not looking insignificantly different as to the previous year.WHY IS THAT?
• For instance let’s say a manager hires a new staff, reason being it maybe a friend of a friend and due to the economy downturn you want that person to be employed,nice gesture! However at the end of the year you surpass the budget quota, as a result you did not envision months into the year,the hire you made in February,was not a wise decision from a company, perspective.Sadly,you can not provide appropriate accountability as to what the money was spent on,that you falsely create a story to your superiors knowingly that they will not be too pleased and this can negatively affect you,which may even result in a warning or suspension of your duties.Unfortunately,at the end,the auditors caught up with you and gathered that the sales manager made unwisely spending of the company funds.Company trust is lost in the manager,leading to problems in the organisation.

5)NOT DEVELOPING YOURSELF

By managers not educating themselves,they leave room for penetration of highly qualified and experience staff.Unknowingly to them,supposing that is,courses serves a essential purpose to comprehend and develop sales tactics to assit in the upliftment of sales.Take note,though you view yourself as a sales manager,take into consideration the market is competitive and evolving oneself is necessary for long term success.Heed to the saying that, ‘You are your own brand and your brand is you.’

For example,if you leave your company to venture to another market sector and for some reason,your present employers ask your past employers,which they regularly do ‘What type of individual are you?’ You know to yourself you were a troublemaker,unfortunately you leave room for your present employers to closely monitor you.

When organizations do not invest in their employees and expect them to produce profits,then that is a detrimental set up for your business to not to go forward.Organizations have to take in consideration, the major question,’What are you doing different to generate sales?’

LET ME GET YOUR FEEDBACK ON THIS BLOG……

Thank you!