Business Growth Plan Matrix
The business growth plan matrix is a great 'what if' tool to develop a number of scenarios for your business.
The matrix looks at making changes from your current business data by % increasing and % decreasing the critical success areas of your business operation and viewing the results in a profit and loss format.
See How to Use the Business Growth Plan Matrix
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The Business Growth Plan Matrix Works Like This
1. We begin with the amount of prospects, leads or opportunities that currently exist that can possibly be converted using our existing sales processes. This is a manual data entry process.
2. Next we select our current level of sales conversions, based on our historical data, this conversion rate is expressed as a percentage. This is selected from a value from a drop down box.
3. The next area is the number of currently 'active' customers that we can now sell to. This is a calculation that is automatically done for you. These customers should be on our database or email list, so all we should need to do is to continue the relationship and sell more products/services to them as we have already converted them to a customer previously.
4. Next we input the current average number of transactions that each customer would make in a year. This would be calculated again from your historical data. The average number of transactions is calculated from the total number of transactions (year to date) divided by the number of active customers that you have on your database (that made up the total of transactions). This is selected from a value from a drop down box.
5. Next we input our current average sell price to these customers. This would be calculated again from your historical data. The average sell price is calculated from the total sales (year to date) divided by the number customers (year to date) that gave us those sales. So for example if our total sales (year to date) are $125,000 and the number of customers that made up those sales were 1,250, then the average sell price would be: $125,000 divided by 1,250 which equals $100.00. This is a manual data entry process.
5. The next area is the projected sales turnover for the year. This is a calculation that is automatically done for you. This is calculated as follows: number of customers x number of transactions (per year) x average sell price.
6. The next area is cost of sales (sometimes called cost of goods sold or contribution margin). Here you would need to select your % to sales that this cost represents, the value then is automatically inserted for you. This is selected from a value from a drop down box. Note: If you are a service based business (business consultant, accountant, bookkeeper etc), then you would not normally have any cost of sales, this being the case then you would set your cost of sales to zero (0).
7. The next area is the gross margin expectation for the year. This is a calculation that is automatically done for you. This is calculated as follows: Sales less cost of sales = Gross margin.
8. The next area is overheads (sometimes called operating expenses) this is an area where we input the level of overheads that currently exist for the business. This is a manual data entry process.
9. The final area is the net profit (sometimes called operating profit, or bottom line) expectation for the year. This is a calculation that is automatically done for you. This is calculated as follows: Gross margin less overheads = Net profit.
Changing from the Current to the Change Situation
Here is where the business growth plan matrix really works!
In the % + or - minus column you simply make your required adjustments to view a number of scenarios for your business, for example:
1. What would happen if I increased my conversions by 5%?
2. What would happen if I increased my average sell price by 6%?
3. What would happen if my cost of sales reduced by 5%?
4. What would happen if my overheads reduced by 10%?
All of these questions and more can be answered using the business growth plan matrix. This great tool can provide you answers to most of the questions that you have in relation to the growth of your business and how you will achieve your financial goals!
Each file has sample data included for you to become familiar with the use of the business growth plan matrix. Get your copy of this great business growth tool for $14.75 USD: Buy Now