Financial Insights for Sales People
This two-day course covers the financial implications at each stage of the sales process, to ensure delegates fully appreciate the relevance of finance to their sales roles and can immediately implement the concepts at work. It is suitable for all sales people who need an understanding of finance in their roles.
On completion of this course, attendees will be able to:
- Understand the difference between profit and cash flow.
- Learn how your day-to-day decisions and negotiations impact the business.
- Evaluate potential customers, to ensure they are viable before you waste sales effort on a business in financial difficulty.
- Negotiate profitable sales contracts.
- Understand your credit authorisation process to ensure you gather appropriate information early, so sales are not delayed.
- - Assess the viability of a potential customer before you start the sales process in full.
- - Understand what the customer’s financial reports are telling you.
- - Work with your credit control team to ensure the credit authorisation process is smooth and swift.
- - How you can show your sales don’t just add to revenue, but that you also consider cash and working capital impacts.
- - Understand Opportunity Cost.
- - What can your solution do to improve the customer’s working capital, revenues or margins?
- - Sell your solution as an investment rather than a cost.
- - Understand how your solution impacts your company’s profits. Looking at margins and working capital.
- - Confidently negotiate financial terms with customers to drive increased profits.
- - Provide feedback about existing customers to ensure credit control manage the account appropriately.
- - Understand the impact of credit limits on your sales and your customers business.