Week of August 14, 2006

Friday 8/18, 2006

In planning your 2007 budget, it's important to be reasonable, logical, and rational. Making your GM bonus for hitting cash flow numbers requires setting reasonable expectations to corporate, then doing the goal. Tip, most big company bosses already know if you are:

a. A low baller. You always kill the numbers because they are easy to hit. (Also known as a sandbagger.)
b. The "PIS" GM (pie in sky) You submit numbers you can't make in 100 years. Corporate loves it. But you set yourself up to fail. You will never get a bonus here.
c. Ms/Mr. Dependable. You hit the goal within 5 to 8% of projection. This is the way you get raises & bonus. No surprises, no BS.

Next week we'll examine the role of your department heads. Want to make bonus money for yourself and them? I'll tell you how next week. And THEY won't like it!

See you then!

Thursday 8/17, 2006

Ok, yesterday we spoke about 2007 planning. Assuming you set your revenue goals for the remainder of 06, you can now set 07. Have your sales manager furnish the following:

- The revenue available in the market for 2006.
- The projected radio market revenue for 2007. (Be honest. Don't "low-ball" or "pie in the sky". Neither will work.)
- Your share, based on your performance this year, ratings, and number of spots for sale at the average unit rate.

Tip - Assume you sell 80% of your 6am to 7pm spots in 2007. Anything less will not be acceptable, more is too optimistic. Want to make a bonus?

More tomorrow.

Wednesday 8/16, 2006

This week we're starting to plan for 2007. As we discussed yesterday, the first thing you need to do is evaluate what happened this year. Everything starts with your size of audience. . The spring book is now out. How (honestly) did you do? Are the ratings good enough to make Q3&4 of this year? You can't project 2007 if you don't make 2006. Project your year. Tomorrow we'll discuss going from there.

Tuesday 8/15, 2006

Mid-August means two things to GM's. Pre-planning for the 2007 budget, and final fall book planning. Now is the time to gather data from your department heads for the purpose of making decisions for both. Get input on what is working, and what isn't this year. Strategy, cost, time & effort all play a part. We'll examine Fall & 2007 planning over the next few weeks.

Monday 8/14, 2006

How's your sales staff's morale in the light of those spring numbers? Maybe they could use a pep talk from you and your PD. How about an after work get together? Nothing brings back the energy to make a sale like getting everyone on the same page from Management, to Sales, to Programming.