Benchmark Business Group

The Flow of Money

August 21, 2018

In the financial services industry, the focus is often on where the next sale is coming from without taking a step back to look at the big picture.

It's understandable. Sales is a driving force within your organization. It's how you create revenue and how you deliver your promise to protect clients' everyday risks.
Creating Sales should be a priority; yet, the flow of money within your business tells a bigger story if you take time to step back from the next sale to focus on the pattern of sales. By studying the flow of money and the pattern of sales within your business, you can track the risks and maximize the opportunities that await your business.
This can be accomplished by asking questions such as:
  • Where is the money coming from currently?
  • What lines of business are making the most profit?
    • What lines of business would help maximize your contract?
    • Are any lines of business selling, but not adding to your bottom line?
  • What markets are you tapping into?
    • Are there opportunities to grow a profitable market?
    • What risks are there in having too much business tied to one market?
    • Does one or a few clients make up a large percentage of a market?
When you begin to ask these questions, the flow of money in your business isn't just a historical account of what has happened. It's a road map to where your business has risks; such as dependency on a line of business or a client, and where opportunities await; such as the fastest path to maximizing your contract.
The road map is then the stepping stone to creating a marketing and sales strategy that is focused on the big picture. Your focus is still on creating sales, but is laser focused on creating sales that take you closer to reaching your Optimal Outcome.

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