Hey SMBs! It Is Not Too Late for 2021 Planning!
Updated: Dec 20, 2020
Maybe your sales team forgot to plan for 2021 or maybe they don't know how to get started. Regardless of the reason, it's not too late. To make it a bit easier, I put together a highly simplified eight-step process. And guess what? This is ain't rocket science, so you can't use that as an excuse. Just set aside a couple of hours to work on your business as 2020 comes to an end, as opposed to working in your business. If you have any questions, please let me know. Otherwise, I hope this is helpful, that you have a wonderful holiday season, and that you find success in your journey to Achieve Greatness.
Step 1: Set Your Revenues Benchmark
Pull all invoices for services/products delivered in 2020
Add them up to arrive at your revenues benchmark
Step 2: Set Available Production Capacity
Add the actual production hours used for the year
Subtract that number from total production hours in a year
Step 3: Identify Services/Products Distribution Gap (SDG)
List the core services/products your firm offers
Select the services/products that were underutilized
Step 4: Existing Client Growth Opportunities
Identify the existing ideal clients to market the SDG to
Conservatively estimate achievable SDG revenues from that audience
Step 5: New Client Growth Opportunities
Identify the ideal client leads to market your core services to
Conservatively estimate achievable new revenues from that audience
Step 6: Do Some Math to Calculate your Revenue Goals (yes, two goals)
Add the two revenues estimates together for your Achievable Revenues Goal
Multiply your Achievable Revenues Goal by 25% for your Aspirational Revenues Goal
Compare your Achievable Revenues Goal to your Available Production Capacity
Step 8: Craft a Plan to Hit the Aspirational Revenues Goal (yes, shameless plug)
Need some guidance on this?