Posts Tagged ‘metrics’
How To Fix A BOTW Business Model
Posted by Rick McPartlin on November 3rd, 2009
It’s strategic planning and budgeting season. The end of a difficult 2009 and possibly a new beginning for your business. What are you thinking about doing differently next year? Are you setting more ambitious revenue goals, or are you trying to slash costs as much as humanly possible? Are you launching a new product or service, or are you contracting your offerings? Will you fix small nagging problems, or will you reinvent your business model?
In this post, I’ll address your business model and how you can change it this next year to evolve from Best of the Worst (“BOTW”) to Best of the Best (“BOTB”).
Are You a “Best of the Worst” Company?
Posted by Rick McPartlin on September 1st, 2009
Lately I’ve been talking with a lot of CEOs about a concept I call “Best of the Worst” (BOTW). The term is harsh, but many executives quickly realize that yes, their organizations have a lot in common with BOTW companies like, say, GM.
In boom times, BOTW companies are enormously confident in and proud of their performance. They’re meeting Wall Street’s projections and their internal short-term metrics. They think they’re invaluable to their customers and are immune to the whims of the market. In other words, they think they’re doing everything right.
But then the environment changes. The market sours, the economy tanks, new competitors show up, legislation kicks in, or some other external variable shifts. Sales and profits plummet.
What do BOTW companies do? They blame these uncontrollable external variables for their woes. Then they just try to survive until the boom times return.
“We have plenty of leads but can’t seem to convert!”
Posted by Jane Adamson on August 4th, 2009
Recognize this sales funnel? I call it “the desperate pipeline” because it’s wide enough to catch any breathing soul who meanders by! You know what it’s like to be caught in one, receiving endless calls and emails because sometime, somewhere, you accidentally crossed a seller’s path.
Don’t be one of those desperate companies. A fat sales funnel has dramatic hidden costs and creates a barrier for consistent, profitable revenue growth. Marketing programs that focus on attracting as many leads as possible are no different from aggressive salespeople who pitch every breathing soul at every trade show, networking meeting and playground.
The solution? Shrink your pipeline!
“I’m lying awake worrying about sales!”
Posted by Jane Adamson on June 2nd, 2009
As you’re well aware, a CEO is constantly juggling a myriad of challenges. But when it comes to sleep deprivation, the top culprit is typically revenue-related … burning questions such as
Is my sales manager doing a good job?
Is my star salesperson going to quit?
Why does one salesperson excel while others struggle?
This stress frequently stems from two beliefs:
That consistent revenue generation depends on the talents of a few select individuals
That those individuals operate in a world lacking both structure and predictability.
Good news: You can eliminate this chaos! Revenue generation is a science similar to other disciplines inside your organization. And there are three keys to your success.
