Financial Acumen Simulation For Sales Professionals
Financial Acumen is a term used to describe “the keenness and quickness in understanding and dealing with a financial situation in a manner that is likely to lead to a positive outcome”. Now wouldn’t it be great if you, as a sales professional, were to be described as having a deep level of financial acumen?
After this 1-2 day financial acumen for sales professionals simulation, you will feel a lot more comfortable talking to your customers about their business finances and how your product or service could improve their financial business performance to achieve their strategic goals.
Financial Acumen sales training comprises of 3 areas namely; Commercial acumen, Financial acumen, and Strategic acumen. Sounds rather boring right? It’s not when you’re learning these concepts while playing a highly competitive, interactive and realistic financial acumen simulation designed for sales professionals.
How financial acumen sales simulation training works:
‘Business Acumen Today’ is a discovery learning experience that is centered around a board-based game. This sales training business acumen simulation allows teams of sales professionals to manage a simulated but realistic trading business, in competition with other teams. Each team and individual discover how the everyday business decisions that they make, shape the performance of their business and how that impacts future business dealings.
As decisions are made and consequences are played out during the simulation, the course facilitator constantly relates learning to the participants’ reality ensuring that participants gain a greater understanding of their own business and how their individual efforts contribute towards the overall success of their organization.
The Business Acumen sales simulation allows various strategic and operational business decisions, such as the scale of operation to manage, which customer segments to target, desired product mix, optimal procurement, how many employees should be hired/trained, and what margin they need to achieve to cover costs.
The simulation runs over 3 to 4 repetitive business cycles. Participants complete simple financial statements between cycles and analyze their results. Their performance is then benchmarked against the other teams, allowing them to learn from their own and others’ mistakes.
Providing an outstanding product coupled with elite facilitators allows us to provide the best business acumen for sales professionals available today
What Sales Professionals gain during the course:
- A gut-level understanding of your organization’s Value Chain and the critical business drivers, which can be leveraged to achieve maximum Stakeholder Value.
- Experiencing and understanding the interdependence of the sales department, production, and procurement.
- Understanding the trade-offs, whilst making decisions around marketing, penetration, pricing, sales mix and calculating the effects on margins.
- Experiencing why managing working capital is crucial to business performance.
- The importance of accurate forecasting as the whole business aligns its plans accordingly.
- Understanding why it is important to focus time and effort on product mix in proportion to gross margin, and not just ease of sale.
- Evaluating customer service and its impact on profitability.
- Analyzing debtors and bad debt, and the necessity of assessing which customers are high risk and what damage they can cause to cash flow and profits.
- Making and implementing decisions by assessing the results, in terms of cross-functional dependencies, allocation of limited resources, competitor activity and business performance, within the broader business context.
- An understanding of Financial Reports, being able to interpret them and knowing how to impact on them.
- Calculating and analyzing gross and net margins – by product, region, customer.
- Understanding how cash flows through the business and how to manage cash flow.
- A working knowledge of different financial ratios to be used to measure various aspects of performance.
Custom Financial Acumen For Sales Professionals
Financial Acumen Sales Simulation Game
Financial acumen sales training should never be boring. This is the training that ties together all of your skills and knowledge to turn you into an unstoppable force that closes sales when others fail. Our financial acumen sales simulation game was designed and assembled by business and sales thought leaders.
This is the best financial acumen sales training simulation game designed to engage, entertain and train the brain to utilize and amass your knowledge in the most efficient and effective way. Your ability to calculate margins on deals, articulate value, assemble team meetings, strategize and perform every other task necessary to close a profitable sale will improve by participating in a 1-2 day interactive course.
Financial Acumen Sales Training Process
- Conduct interviews and gather information.
- Develop core concepts based on our research that fit your business needs.
- Compile course materials and begin financial acumen sales training.