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Manage Company Sales Using Visual Mind Mapping

February 8th, 2010
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Successful sales of a company’s product are usually the driving force behind the company’s continued growth. As such, companies routinely find it important to set aggressive sales targets for their sales teams, and monitor individual members’ progress along these goals. There are many tools available to company owners for keeping track of how well individual sales team members are selling. However, few, if any, contain the unique advantages for tracking information found in Visual Mind Mapping. With Visual Mind Maps, company owners can easily view sales numbers for a given time period in one intuitive, colorful, and spatially formatted diagram. This diagram, because of its non-linear layout and visually stimulating components, makes processing and conceptualizing the information contained in the map much simpler. Company owners can, thus, use Visual Mind Mapping to determine strong versus weak sellers, as well as what volume of their product is being sold.

What are Visual Mind Maps and How Are They Created?

A Visual Mind Map is “a means of organizing information that allows individuals to create diagrams, pictures, and other graphic visuals in order to show the relationship between ideas or other types of information”.1 With a Visual Mind Map, the creator makes use of colors and symbols to construct the map and represent his or her ideas in a non-linear format. When creating a Visual Mind Map, the individual usually begins by showing the key concept or main topic of the information as a graphic image, located in the center of the map. Any themes surrounding the main idea are shown on “branches” that are attached to the central topic. Subsequent themes of less importance are then attached to these branches using “child branches”, and so on. The resulting diagram is a “map” of the ideas and information presented that includes the images, visual graphics, and colors the individual associates with each of the themes and ideas.

Using a Visual Mind Map to Track Monthly Company Sales

A company owner wants to track how well his sales team is doing on a monthly basis. He decides to make a list of each team member’s actual versus target sales using a Visual Mind Map. He begins his map by first placing a graphic representing company sales in the center of the map. He then lists the names of each member of the sales team on “branches” that are attached to the central graphic. Next to each member’s name, the owner may list his or her actual vs. target sales for that month. The owner makes sure to use pictures and other graphics throughout the map to clearly designate high performing sellers from low performing sellers, as well as make the map easier to conceptualize. When the owner has completed his map, it closely resembles the attached Mind Map diagram.

Improving Company Sales With the Visual Mind Map

As a result of his Visual Mind Map, the owner now has a way to easily and efficiently track company sales from month to month. In addition, he can also see who among his sales associates is consistently meeting his or her sales targets and who is not. Every sales team member, from highest to lowest performer, as well as their respective sales numbers, is neatly mapped out for the owner in one snapshot diagram. The owner can therefore, better improve company sales through motivating his sales team with incentives for exceeding their current sales. The owner may even want to represent the incentives team members receive on future Visual Mind Maps by listing a star or ribbon next to the team member’s name. By using a Visual Mind Map, the company owner finds he is able to manage his company’s sales, assess sales team members’ performances, and improve sales numbers simply and creatively.

  1. Farrand, Paul; Hussain, Fearzana and Hennessy, Enid (May 2002). “The efficacy of the ‘mind map’ study technique”. Medical Education 36 (5): 426–431.
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Getting Out of Business is a Process

February 10th, 2009
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business strategy
We Buy Your Business asked:


We Buy Your Business

Getting out of business is a process. The length of time required to complete the process is directly related to the complexity of the business, and the circumstances underlying the decision to get out. Planning how you exit your business is just as important as how you started it.

The exit process, timing of events; and tasks associated need to be tailored to the type and complexity of the business. Each case is individual because reasons for dissolution differ, and problems that arise are unique to each circumstance. The following checklist contains key elements that should be evaluated as early in the exit process as possible to eliminate pitfalls later on.

The process for exiting a business should include evaluation of the following points:

1. Engage Professionals & Consultants as Team Members.

2. Prepare a List of Assets & Perform a Physical Inventory.

3. Perform a Valuation of the Business.

4. Prepare Detailed Plan & Assign Responsibilities.

5. Release Announcements & Notices.

6. Conclude or Transfer Contract Obligations.

7. Dispose of & Transfer Assets.

8. Settle Accounts Payable & Debt Obligations.

9. Prepare Final Financial Statements & Tax Returns

10. File Articles of Dissolution.

11. Prepare & Issue Special Filings, Notices, Informational Returns, & Taxes.

12. Receive Tax Clearance Notice.

13. Close Bank Account.

14. Store Business Records

The process for successfully exiting a business requires the same amount if not even more planning as starting the business. While the process may be easier, it is likely to be less enjoyable and more stressful. The best advice for business owners is to incorporate potential exit strategies in the early stages of setting up their business. Vigilance and diligent managerial oversight is needed to ensure that complications and problems which could affect dissolution, and net value, do not develop into roadblocks. When the time comes to divest or sell the business, be sure to engage the relevant expertise needed, and prepare an action plan.

We Buy Your Business enables clients an opportunity to sell businesses and business assets fast for cash. If your exit strategy requires a quick divesture option Contact WBYB for cash offer NOW. Website: www.WeBuyYourBusiness.com



Martha
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