Executive Business Advisers Business Articles

How To Find The Best ROI

By Dennis Sommer (www.dennissommer.com)

The current economic climate dictates that companies must invest in projects that bring the greatest return. We recommend the following steps to realize the quickest and biggest return on your business and IT investments.

Identify
Identify key performance indicators (KPI's) that support your business goals and objectives. KPI's should be indicators that drive behavior to achieve the business goals and objectives. The KPI's must be quantifiable.

Estimate
Estimate return on investment (ROI) according to the identified key performance indicators (KPI's). Use the financial ROI models preferred by your finance department. These models include; return on investment (ROI), net present value (NPV), internal rate of return (IRR), payback period, etc.

Implement in Phases
Implement projects in a phased approach. Use ROI models to measure and support each phase. It is most important to achieve ROI results as quickly as possible.

Prioritize
Prioritize project phases by ROI impact to the business. Allocate resources to the activities that will provide the biggest and quickest benefits to the company.

Measure
Track actual results. Compare the actual results to the estimates developed earlier. Monitor performance with a project performance scorecard.

About The Author - Dennis Sommer

Dennis Sommer is the founder and CEO of Executive Business Advisers, a management consulting firm helping senior executives maximize both sales and profit growth. Dennis specializes in strategic planning, sales, marketing and operations performance improvement.

Dennis is a highly sought after author, keynote and seminar speaker on sales, leadership and business best practices.

Contact Dennis at www.executivebusinessadvisers.com or www.dennissommer.com .

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