There are simple ways to ensure profitable business.
One way is Leading With Revenue, which was summarized in my last blog.
From the last blog we know Leading With Revenueis not easy. While it is simple [straightforward] to describe, it is not easy – it requires work and disci
pline. It requires some thinking followed by set action steps. The most important part of the work is – Listening to Clients [starting as early as possible in the process].
In the summary, at the last blog, the Leading With Revenue process started with a product or service Idea, backed by Specialized Knowledge. That happens when an inventor comes up with a new mousetrap. Leading With Revenue should definitely happen then. It also should happen when one of our sales people comes to work tomorrow morning and wonders – What shall I do today?
Leading With Revenue will add tremendous Value in both situations. That Value includes:
- Higher profit
- Lower stress
- Higher work satisfaction
- Lower staff turnover
Here are a couple of real-life examples I have experienced during the last year. I have changed the names of people and companies and been vague about products to ensure confidentiality.
Example 1:
Joe invented a tool. He spent hundreds of thousands of dollars and years of time de-bugging the product, creating top-notch packaging, creating a good sales presentation, and manufacturing samples. He visited numerous prospective buyers, distributors who could serve as future buyers. These folks said, ‘the product looks great’. Joe gave hundreds of samples away so the distributors could display them and promote them to consumers. The result was - very few sales and very little feedback about ‘why so few sales?’.
Example 2:
Jane had a well-established, profitable business with hundreds of clients. Jane felt changes were required to improve sales. A new CRM system seemed to be the right answer so steps were taken to select a new CRM and a company to install, de-bug, and get it operational. After many months and tens of thousands of dollars, the CRM is almost operational. The results – zero increase in sales.
Obviously, those were not the Leading With Revenue success stories.
Leading With Revenue success stories will be presented in the next blog…