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Showing posts with the label Sales targets

Setting sales targets

 Setting realistic sales targets is a key factor in improving performance and maximising profits. Realistic sales targets can help improve cash flow, increase motivation of sales staff and meet your overall business goals. Sales targets can be used for products and services, regions or even for particular types of customers. For a business to continually grow, business owners must set sales targets in areas that will boost growth and development. When setting sales targets, here are three things to keep in mind: Tailor for your business Every business is different and sales goals will vary depending on the stage of the business cycle it is in, i.e start-up or an established business. Sales targets will vary according to seasonal factors, marketing, production and supply costs.   A good way to work out a sales target for your business is to calculate the minimum sales requirement. This is the point at which both your fixed costs and your profit goal are covered by your gross profit (the