CEOs and sales people keep saying “we know how to make a lot of money.” Don’t bother us with strategy, brand, culture, process, business plans or any of those soft things you learn at university or consultants want to bring you.
These CEOs and sales people want simple. Just give them a good product and a team willing to dial the phone and turn out lots of proposals. Then step back for the big financial return.
That big financial return does happen. Those CEOs who have a product and a sales team willing to dial the phone and crank out proposals, do make a lot of money. At least some of them do and some of them make money for an extended period of time – some of them.
This must be proof that creating a product and training a team of aggressive sales people on the product is the formula for early retirement and private schools for the kids – RIGHT?
Well —– Even a blind squirrel finds a nut once in a while. Let’s consider an example from the history of the 1800s in the United States.
The 49ers weren’t a football team then but the leaders of the migration into the western United States. These people came from all over the world with a primary WHAT goal to find GOLD and as much as possible.
These people wanted to be gold miners and strike it rich (like the CEO with the product). For 50 years they explored the western US from Mexico to Alaska and the Dakotas to California in search of gold to become rich.
They worked hard, invested everything they had and every once in a while, a blind squirrel finds gold. Even less regularly a blind squirrel finds enough gold to make it all worthwhile and still fewer got stinking rich, just like a few CEOs with cool products (like Blockbuster, pet rocks, etc.).
Those tens of thousands of miners helped another small group get predictably and repeatedly rich. That small group were the ones who brought science to the West. They used a science based approach that started with a strategy based on geology (WHY) and geologists who applied that science to the west to recognize pockets of valuable minerals.
Few other than those science trained individuals realized the relationship between types of rocks, soil, gold, quartz, cooper, silver, etc. Understanding geology often showed a path from what a prospector found worthless to the bonanza.
The second part of the strategy based approach to wealth was the mining engineer. The miner with a mule had a pick and dynamite – the mining engineer had many other tools but more important they had the knowledge of where to use the tools and how to take what miners thought was waste rock and recover a fortune of other minerals in that waste rock.
The third element of the strategy was the miner. But the miner on the team with a strategy knew where the value was, had the right tools to recover the value and everything necessary to process the mines output to produce the most possible wealth from, for the least possible effort.
The Geologist with a science based strategy represented a WHY for the mining business. This was a science based model and was about a lot more than just being lucky enough to find a pan full of gold or able to set off dynamite to blow up a hillside.
The Mining Engineer was science based and delivered HOW to make the earth’s abundance yield a profit both through the process of an engineered mine but also the processing of the mines output.
The Miner’s on this team were deploying and executing exactly WHAT needed to be done to make the dream real.
The success of a business or a mine can be the result of someone being in the right place, at the right time to make a lot of money or they can build a more predictable science based approach. The predictable approach based on WHY/HOW/WHAT is operationally flexible. To use the mining example when the gold runs out (the mission was not to dig gold, but to get rich from minerals) the geologist and mining engineer modify the process and produce copper for decades.
For a business that is in the product (WHAT) business when the product doesn’t sell they start all over. Had they been a “Revenue Science™” business, they would have known (even helped the customer see this issue early) the customer by then had new high value problems and the science based business would be ready to solve the customer’s new problem.
So, if you want to get rich you need a Geologist, Mining Engineer and a Miner or a lot of luck. Practice “Revenue Science™” to find and deliver all the value over the long-term.
Upcoming Revenue Science Certification Classes:
Coming in the Fall of 2017