Do you know your business growth trajectory? You know where you want to be in five years, but how to you track your progress to get there? What supportive processes can be tweaked or revised? How to you substantiate, or refute, your ‘gut feel’ on your business model?
Put your focus on the numbers. Metrics-based business development can transform your business and reenergize key staff. But relax, you are not alone in the business world if you don’t have a firm grasp on your business metrics.
Many businesses have the same concerns. They focus on daily ‘housekeeping’ operations rather than focusing on the “business” of business. While project leads and employees working on a particular project or program should focus on operations that support their customer, those assigned responsibilities for business development, marketing, or sales should focus on new revenue. Other daily mundane tasks are house-keeping, and not a solid metric for future success; we will help you develop and monitor those metrics integral for the production of new revenue.
Solid metrics include current backlog and future backlog requirement to meet you quarterly, annual, and 5-year goals. Do you know what those goals are?
- How large do your qualified and unqualified pipelines need to be to support your organizations goals? How can we quantify our pipeline?
- Can you tell your team when your backlog ends and how much backlog you need every quarter to meet your growth goals?
- How often do you update your business staff on the win percentage on their bids?
- What is your plan to increase your win percentage and how will you monitor its’ success?
- How do you project / monitor development of business and technical innovations on win percentage and revenue projection?
- How does your pipeline translate into revenue over the next five years and what needs to be added or revised to meet growth targets?
- Is my overhead adversely affecting our company meeting our goals?
- What can we do to reduce and monitor overhead growth? Are we on-boarding the right people efficiently?
- How do we keep great employees at a lower cost?
- How do we change our plan to address the impacts of changing budgets and LPTA competitions?
If you can answer all these questions now, congratulations. You are in a select group of businesses that have developed and integrated their goals with their business plan. If you are like the vast majority of businesses, you fall somewhere on a scale from living on current programs/hoping for follow-ons (busy with what you do day-to-day) to having a partially integrated metrics-driven business plan.
TM&ST can help you plan for, monitor, and adjust your business goals and trajectory for success. We will help you establish benchmarks of where you are and where need to be at critical points to meet your achievable long-term goals. Our analysis tell you whether you do or do not have the pipeline to support your goals. We will look for efficiencies in how you do business and how your personnel management supports your goals efficiently. Our process is based on understanding your capabilities and processes and review of your pipeline. Once you have the metrics and processes you’ll have solid support of that ‘gut feel.’ We’ll address some of those things that ‘keep you up at night.”
Call and ask us how we can help you ‘sleep well at night,’ by-the-numbers!