Results are the measure of success and should meet the original project specification – they can be categorised in a number of ways but for a business they should represent a “Yes” to the question “Have I made money or saved money”
However there is another currency – time. This may just be used to spend on more business development and greater revenues or to improve the work life balance.
Either way it has to be measured and a successful Requisite-IBD project must first pay for itself, then add additional value and/or capacity to the client business. Example project results include:
- Channel building project with launch campaign and outsourced call handling generated 40 new leads a month with a conversion rate of 25% this resulted in 10 deals with an average order value of £5k on a net margin of 50% which equates to £25k profit and more importantly, an engine in place and proven marketing techniques to continue generating 40 new leads a month
- Sale force restructuring, training and new incentive schemes resulted in 10% margin reduction on new sales but an increase of 25% in revenues at 42.5% margin. Which equates to a 6% increase in profits, over the 250K revenue = £6k and a loyal, re-motivated sales force.
- Implementing new management hierarchy, training and creating new process, procedures and management reporting, resulted in freeing up a working day per week of the owners capacity, to be used for face to face client contact and improved staff responsibility and P&L accountability, for each division. At the owners day rate of £550 this equates to £23k / year, with other benefits still to be quantified in cost savings and efficiency figures.