2022 has arrived, and you have new resolutions for your distribution business, but do you know how to keep them alive through the year? According to Forbes, 80% of the people give up their resolutions by the last week of January and the first of February.
Why does this happen? The main reasons are that they don’t have the necessary tools, don’t have control of what has to be done to achieve the objective, and over all don’t have the necessary information to see their progress.
To fulfill a goal we have to have a SMART objective, what is this? SMART are the initials for Specific, Measurable, Attainable, Relevant and Time. A good objective has to define all of these points, so, how do we apply this to our distribution business? In this article, we view how to implement each point to your distribution goals.
In a market that is growing increasingly competitive, these attributes must be critical for your distribution business. Therefore, your objectives have to be SMART to achieve them.
These 5 characteristics will make your goals easier to achieve. For example, if you had a personal resolution to lose weight, instead of saying “I want to lose weight” you can put “In the months of January to March I want to lose 15 pounds through diet and exercise 3 times a week”.
Let's start describing them to have a clear goal for your distribution business.
Being specific helps us know what we really want to achieve as a business. Don’t generalize your objectives because they will be harder to accomplish. Instead of saying “I want to manage my sales reps routes” say, “This year I will have control of my sales reps routes by using GPS Tracking.”
It’s necessary to measure what we are doing, you can’t continue making efforts without even knowing if we are succeeding or not. The distribution goals must be explained in detail for a better understanding of what we want to achieve.
For example, if you say “I want to know the total sales of all my customers' ', even though it sounds good, it still is very generalized. A better way to say it is “I need to know the sales of products ‘x’, ‘y’, and ‘z’ to the customers ‘a’, ‘b’, and ‘c’ ” it’s more specific and measurable. Using Listaso’s Business Analytics Module, your distribution business can measure in a more specific way.
It’s good to have great goals for your distribution business, but first you must take small steps to make your final goal achievable. For instance, instead of writing “I’ll be the distributor for all groceries stores in my city” you can actually put, “I’ll be the main supplier for the 10 groceries stores closest to my warehouse”. It looks attainable and realistic, by using Listaso’s DSD Solution you will be able to organize the visits that you’ll do to your customers.
You also need to keep up with today’s trends, so your competition won’t overcome you. Upgrade your inventory process, sales, or any area that needs improvement to be relevant and effective.
Going digital is a must-do action that all distribution businesses should and are doing. To automate and digitalize your process is necessary to be more effective and generate more sales. An example that you can put in your objective can be “Expand my coverage by selling online to customers in a new city”.
You must be specific when it comes to describing your objectives. You can’t just measure them by quality, but also as a time limit. If you don’t measure how much time a task takes, you won’t have the buying and selling trends that your customers and possibly lose profitability.
Instead of making a long term objective like “I want to increase my sales to 20% this year” do an objective that looks more specific and realistic time-bound such as “From January and March 2022 I want to raise my sales by 5%”.
Having little changes in short periods of time will show a big change in long periods of time.
To reach your distribution business goals, you must be focused on what you want to do and have the means to get there. We want to share with you three examples that you can use for your business:
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