The world is full of examples of ways of determining if you are just better than someone else or really good. In golf, it is flights, in tennis, it is levels, in bowling it is by handicap. In High Schools it is honor, college prep and vocational, and in college sports it is divisions.
Everywhere we try to get clarity about how good we are it is by comparisons. We know the best player in Pop Warner is not ready for the NFL. In business, we often don’t strive for those levels of distinction when we are making money. Most companies spend a lot of time comparing themselves to competitors and justifying how “good” they are by comparison. When companies are making money, they don’t often care if they are good only if they are better, making money and selling stuff. (The customer is not in this equation yet they set the true definition for “good”).
“Revenue Science™” says “good” is from determined from the buyer’s frame of reference and can be measured by behavioral outcomes. This “Revenue Science™” metric review is not only about what we are doing today but are we a healthy company that will last past the bubble or the arrival of a great competitive option.
Businesses are organisms that will or will not survive and thrive for a long period. A business that appears to thrive when there is little, poor or NO competition is making money but not necessarily a good business.
A business that is in the middle of a buyer frenzy bubble thrives if the bubble is not burst, but is often not a good business. This type of business thrives if they can fulfill a buyer demand that forgives high prices, low value and poor quality.
Often an organization can be “better” and profitable for a short time based on one cool product, a preferred location or monopoly, but when those temporary advantages change the thriving stops and surviving is a challenge.
These “short time” “better” companies remind us of friends in high school and college who with their personalities, youth and athletic trim flew though school without much effort. They ate, drank and lived a life of excess with no apparent damage or regrets. These friends like the “better” business seemed to have some almost magic advantage that soon changed. Without solid disciplined foundations of health, education, work habits and commitments to something bigger than themselves the thriving stopped and even surviving became a challenge.
Businesses need the solid disciplined foundation build on “Revenue Science™”. Businesses committed to being “good” require a disciplined foundation built on “Revenue Science™.” “Revenue Science™” is the only thing that virtually assures a business will survive and thrive based on the ability to continually produce more profitable revenue.
“Revenue Science™” comes with tools, metrics and a methodology to assure the business is not just better than bad competition or just taking advantage of a bubble, but build in a way to assure long-term health and success.
Don’t be OK with being the high school hero who burns out before the 10-year reunion. Build a strong science based foundation that can be measured and continuously improved no matter what is going on in the market.
Commit your company to not just out running the other guy in the race, but to be a good company by intentionally applying “Revenue Science™.”