Product Usage Tips: Annual Check-Up - Knowing Your Vital Signs

Do you know your vital signs?

 

No, not your blood pressure or heart rate.

 

Doyou know the vital signs of your business?

 

Through years of perfecting the SAM System, we have done the hard work of calculating which categories are most key to determine the health of your business.

 

In the SAM System, these signs include your Closing Interviews, Closing Percentage and Average Size Case. And for your benefit, the eScoreBoard standard report includes these key business metrics for your on-going business assessment. As you grow your practice, these vital signs should become an integral part of your performance review and improvement action plan.

 

“Performance Formula”

 

So how does it work? The formula is a multiplication of these factors is as follows:

 

Closing Interview   X   Closing %   X   Average Size Case  =  Revenue

 

The closing interviews typically represent the number of people that you ask to buy.  The PREMISE for this formula is that a modest improvement in any one of these three factors may significantly impact your production.   In our example, the vital signs formula and sales results would be as follows: 

 

3   X   67%   X  $808   =   $1,624

 

Our example is from a weekly eScoreBoard Report.

If our agent in the example added one more closing interview to the next week, the sales results would be:

 

4 X 67% X $808 = $2,165

 

If the agent were to increase the average size case to $1,000, the projected impact would change to:

 

4 X 67% X $1,000 = $2,680

 

The agent’s potential increase in revenue from one week to next was over $1,000 because of an increase in average size case of less than $200 and asking one more person to buy. Try our Vital Signs Formula with your current and potential numbers and see how it works out for improving your business results!

 

My Current Vital Signs and Results:

 

Closing Interviews_______ X Closing %_______X Average Size Case______ = Production_________

 

My Potential Vital Signs and New Results:

 

Closing Interviews_______ X Closing %_______X Average Size Case______= Production__________