The idea of brainstorming has been around for sometime, but are their hidden benefits for business planning being missed?
Brainstorming, sales analysis, sales projection... they are all terms we learn in business 101, and yet when you have a small business they are not always a priority. Usually people think that analyzing data and projecting the future is characteristic of a large company, a corporation, or at least a company with a dozen VIPs.
On the contrary, EVERY business should strategize, brainstorm, and analyze their progress. Furthermore, they should do so on a regular basis. Not only does this keep management informed of the market, but it also helps in motivation, since achieving specific goals in business helps the entire team to continue working hard and enthusiastically. Of course, this is an easy aspect of business to forget, if you're constantly performing a number of manual tasks (i.e. handling cash, stocking, warehouse work), which entrepreneurs are often forced to do.
You cannot underestimate brainstorming and analytics time. Most big name companies provide sales analysis reporting every day, every week, every month, every three months, and every year. These reports total up important business data such as net sales revenues, sales goals or quotas, total profits, and sale by product type.
After you review these reports, it's time to brainstorm and then plan the next milestone. That's the way successful business works. Analysis reports give you the opportunity to measure performance and to respond to trends with new sales strategies. Seeing sales reports can help you understand the past, and even forecast the future.
Whether you want to include your whole team or just the "senior" members is up to you. In general, brainstorming is a group activity, ideal because it offers multiple perspectives besides your own instincts and preconceived notions. Brainstorming is the "practice run" and based upon agreement and debate, you select the strongest ideas for progress.
One asset that is so helpful is Inventory Control software, including the revolutionary system iMagic Inventory software. This scalable system is ideal for businesses at any stage, whether you're a large publicly traded company, or a small entrepreneur just starting out in the game. The many different reports iMagic can generate makes it one of the most competitive inventory systems on the market. You can create built-in reports, select graphs for easy comparison, compare sales items, organize reports by category, and create reports by customer, or by cost and profit.
Managers can generate commission reports, always helpful when evaluating and rewarding sales personnel. You can debut your own HR program and auto-generate reports that list compensation. Highly useful to companies such as car dealerships, auto stores, retail stores, real estate, and other businesses that maintain a sales teams.
The iMagic Inventory system also offers customer-owing reports, reorder reports, item and user tracking reports, and vendor reports, so that you can keep track of how your business is functioning, and whether or not business trends require review.
The system integrates with other Windows-compatible programs, such as MS Access, Microsoft Office, and Crystal Reports. You can also print reports on paper or save them in a variety of formats for easy cloud sharing.
Lastly, remember that it is extremely important that all data be protected and that the software is from a trusted source. Low quality programs not only open your information up to malware and spying, but could also return to you inaccurate sales reports.
No kidding... of course, we're not saying that some computers are better at doing math than others! However, sales reports can be inaccurate if the reports are based only on certain patches of sales information, as opposed to a system that centralizes all information as you enter it, and generates reports on everything.
The iMagic Inventory program is used all over the world, by a variety of diverse organizations, such as IBM, BancTec, and the American Red Cross. All software is secure and highly protected, suitable for multinational, million dollar companies that work in health care, pharmaceuticals, technology and other many other business categories.
This is not a system that you work around - it is a system that you can customize to coincide with your own business goals. The iMagic Inventory system makes it easy. Spend more time forecasting, managing, and brainstorming and less time dealing with paperwork!