Business Development

Commonly used metrics for the Business Development Scorecard

There will always be a point in every company when things feel a bit stagnant. If it feels that way, there is a good chance that things are even more stagnant than they seem. Are you ready to see things change? There is always hope, no matter how futile or ineffective your efforts to change. The implementation of the business growth scorecard can help.

Never forget the mantra “You cannot manage anything you cannot measure.” Managers in all industries need to remember this mantra. You can’t measure different aspects of your business if there is no way to measure them. No matter the type of change you want to implement, measurement is essential. You might not know how to develop metrics for the changes you are implementing. You don’t have to worry, there are plenty of resources available to help you choose the right metrics. These are examples of client relationship metrics and business development metrics you might consider including in your scorecard. These metrics can be used to help you identify the most important aspects of your business.

Manage client relationships

Keep in mind that management fees are not inclusive of personal bills. These management fees are applicable to all services that help clients retain their business and grow, so long as they don’t exceed the personal fee benefit. Management fees, which go beyond the personal bills and workgroup themselves, are next in line. These fees can be applied to any activity that is not directly related to the workgroup, but which contributes to the management and supervision of client relationships. Finally, there are management fees, which go beyond personal billings. They also cover the practice group and beyond the direct workgroup. This refers to the value of relationship management, which contributes to the total form and also indicates the spread and cost of services.

These metrics about client relationship management can be easily measured. Once you have this down, you can move on to acquiring other businesses.

Development of clients in a new business setting

You must pay attention to the new clients you introduce and those that are sourced. The current year’s fee value, expected fees for the next two years, and the possible fees are all important. The second metric refers to any new work or issues you will need to address now that you have clients. These fees cover business activities not previously obtained from clients. It is important to keep in mind the current fee value as well as the expected, and potential, fees over the next few years.

You must also measure win-backs. These are tasks you can win back from key competitors. You should also mention the new services that are being offered. When establishing new services, you should be aware of the fees for the current year.

These metrics will help you create the business development scorecard you need to drive the necessary changes.

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We are a team of professionals with each having two decades of experience in start-ups, sales, marketing, finance, HR, large scale project and profit centre management and running mature cross functional operations. At Molw.net we are big believers that knowledge transfer is critical to our industry’s evolution. We love to share our experiences and learnings through our online resources.

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