We Are Doing Everything We Know to Ramp Revenue. That is Your Problem.
We brought the CEOs, CFOs, and Sales and Marketing Management of three companies in whom we had invested. All three companies suffered from the same malady – falling far short of their plans to grow their companies. The VC company brought me into the room to present my findings from a whirlwind analysis of the companies. After I presented my findings, the room erupted. “You do not understand our businesses. Each of us is unique. We are working are butts off. No one can care more about our businesses than we do.” Seated, I looked around the room and quietly said, “This is why you are failing. You care, but do not care enough to enact the changes your businesses require.” The room fell into an eerie silence.
Over the next 45 minutes, I outlined what we needed to do to ramp revenue at all three organizations. Within twelve months, revenue doubled; within another twelve months revenue increase an additional 70%.
What was our plan?
We took a month and visited a variety of customers and several prospects and listened. We repeated this task every six months, changing formats, but never veered from our mission – listen and learn.
We profiled our ideal customer moving forward.
We compiled a new list of prospects and contacts in a process that never ended.
We developed and implemented target marketing strategies.
We implemented an insight selling methodology and portfolio management,
We designed and implemented an employee growth plan and rooted out poor performing employees and employees who devalued the work of other employees. And, we hired and trained personnel with the objective of improving our roster.
We implemented an equal focus on customer, employee, and partner satisfaction
We made it easier to do business with our companies.
No one’s company, products, and/or services are so unique that these 8 components to ramp company revenues do not apply. The rules of good business apply to everyone. Of course, the devil is in the detail.
