2023 Sales Update
In 2023, the Sales team won substantial new business awards, representing about 10% of our net sales. While this fell short of our robust new business award goal, it still puts us on solid footing for achieving our long-term strategic goal of growing Fastco’s business by 10% year over year. This is the most important goal that the Sales team has and we continue to prioritize winning new work.
Sales Update for 2024
This year, we will be working hard to achieve our secondary goal of diversification. We will be prioritizing getting our outside sales managers, Milo Boyce and Andy Ike, out on the road to meet face-to-face with current customers, particularly in the non-automotive sector. In March, Milo and Nick DePompolo, our sales engineer, will be going to the NASCC Steel Conference in San Antonio. We look forward to meeting new potential customers and connecting with current customers and suppliers there.
More Innovations
Some really cool innovations have come from the Sales team this year, including a New Business Referral Program, which turns every team member into a sales team member. Open-book management with its open dialogue about revenue and profitability has helped bring about ideas like this. It has also helped to get our team thinking of ways to maximize profit while also staying competitive in a tough market. We’ve come up with new strategies for pricing high volume jobs that will run on under-utilized equipment. We are hoping that 2024 brings in even more new business than 2023.