Fin-tail management – 3

Means and targets

Means and targets are as depending on each other as they were in the old song “love and marriage are as horse and carriage, where one can’t do without the other”.

Setting targets without a total control of your means is as bad as the opposite!

Any fish is fully aware of this and opens its mouth according to the size of the attempted catch and to the speed and direction, that the fin-tail has decided. A complete balance between means and targets!

How can we implement the same way of working in our companies?  Start by asking yourself!

– Does my company have a growth rate in the market, that is higher than the market growth itself? If so, you can relax for a while, but not for long.

– Does my company have a growth equal to the market growth or perhaps lower? If so, you have good reasons to ask yourself a few questions such as:

  • Do you know your customers?
  • And those who could be your customers?
  • Do you attack that part of the market, where the best results can be expected?
  • Or do the salesmen decide for themselves?
  • Do you have the right organization and right sales channels?
  • Is the sales force properly dimensioned?
  • And sufficiently competent?
  • Maybe you have too many salesmen?
  • Or too few?
  • Do the salesmen visit familiar major customers and forget about the smaller ones?
  • Do you advertise big and expensive – when a targeted effort would give better results?
  • Do you manage to keep your customers?
  • Do you process lost customers?
  • Or do you leave them to the competitors?
  • Is the customer turnover high?
  • Is it perhaps more profitable to seek new medium-sized customers than to give additional treatment and discounts to your big key accounts?
  • Or do you chase them all?

How many correct answers did you have? Really?
The most common and dangerous misstake is that one feels one knows and allows oneself to act on that uncertainty. Very dangerous and very common!

There are more companies that cannot answer these questions correctly than there are companies that can. In other words, it is an essential area to consider. We will never learn to swim like fishes, but we can learn other things from them.

Comments, reactions and questions are more than welcome, as they might serve yourself as well as others.

And that is what Agera Business Lounge is all about!