Are you a resource-aholic?
Are you a salesperson who never saw a customer or an opportunity that you did not like? How about a manager who always wants to implement your latest brilliant idea? Or maybe you’re a printer that has made investments based on a hope and a prayer instead of current business.
If any of these fit, you may be a “resource-aholic.” We define “resource-aholic” as a belief by management and sales that there are infinite resources that can be deployed for any project they desire. Printers that pursue any lead or job that they come across without stopping to consider whether this new customer is a good fit for the business are hurting themselves in the long run.
So how do you avoid this resource-aholic syndrome? Start by reciting the Qualification Mantra: “Deploy your finite resources to work on the most profitable opportunities.” Then institute a prospect qualification process. Printers that have an effective qualification process are among the most profitable in the industry.
Your process should incorporate the following best practices:
- Create a methodology to segment the type of work into well defined product segments.
- For each product segment, have qualification criteria that is well understood and documented.
- Provide a standard worksheet that a sales rep has to fill out before they can take a meeting or accept a job from a customer.
- Train your workforce relentlessly in understanding the qualification criteria.
Caslon is currently developing Prospect Qualification Tools that will be made available to all PODi members. An “Alpha” version of these tools was presented at our recent S3 User Group meeting and we are moving to a “Beta” stage with select PODi members.
You can participate in this process and help up improve the tools by sending us your own qualification questions. Before pursuing an opportunity what questions do you ask to determine if it is a good fit for your business? What key information do you need to know before bidding on a production type job? If you are looking at a solution, such as a Web-to-Print program or trigger-based direct marketing program, what criteria must be met before you accept the job?
Send us your suggestions by submitting a comment on this blog or emailing chrisd@caslon.net.
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