In this high speed, technology-driven and rapidly changing world if you are not applying Revenue Science™ through CRO (Chief Revenue Officer) Thinking and Deployment you are severely handicapped.
The market, investors, staff and most of all customers want to work with leaders, not sentries protecting all that is old and entrenched.
Those CROs practicing Revenue Science™ have highlighted four lessons they live by that anyone can apply even before Mastering the Science of “Revenue Generation”.
1. The old rules are poison and put you at risk
a) 20th Century Myths (from over a 100 years of Bubbles) Must Die. The 20th Century was a 100-year anomaly based on a series of buyer frenzied bubbles. The century started as farmers trying to make ends meet with no electricity, indoor plumbing, motorized vehicles, telephones, radios or TVs. This farmer society would buy almost exclusively locally produced products. By the end of the century, it was a world of mass production fueled by the low wage farm worker pulling in the wages of unionized manufacturing jobs. Those 20th-century bubbles created novice buyers purchasing things they never owned before with credit cards and home equity money. The world changed from buying from trusted friends to buying from Walmart. The transparency of the web has put the buyer back in charge with google access to learn who is trustworthy and provides value. The buyer is back in charge and the superstores designed to fulfill bubbles are having to become buyer friendly or exit.
b) Today every organization must reflect the return to buyer focused transparent business relations built on trust and value.
c) Abandon the 20th Century myths and apply “Revenue Science.” With Revenue Science™ everything is buyer-focused and the resulting growth in sales and profits become predictable.
2. Strategy is the tool. One of last century’s myths was execution was king. The science tells us that the only execution that matters is the execution that is aligned with and supporting your Revenue Strategy.
a) The execution must support the Revenue Strategy and the Revenue Strategy is from the “Buyers Frame of Reference” vs last century’s Head Quarters out market approach.
b) Take the time to answer the 5 Revenue Strategy questions from the “Buyers Frame of Reference,” deploy in an aligned way, apply behavioral outcome metrics in a culture of continuous improvement and the future will be bright.
3. Diagnostic tools are as available through Revenue Science™ for business health as they are for Doctors and medical health professionals, so use them.
a) Examples of available tools are the BellCurve, The True North, the Revenue RoadMap, Revenue Resources Required, and the “Cost of Chaos”. They are easy to use and help eliminate myths and other things Dumb Things not based on the science.
b) When the Revenue Strategy is in place and the tools are applied managing the future is about aligned deployment, measuring behavioral outcomes and continuous improvement.
4. Financial tools are an extension of having a Revenue Strategy in place, supported by tools and aligned deployment.
a) When you are doing aligned deployment, measuring behavioral outcomes and continuous improvement there are a group of tactical tools like the removal of the “Cost of Chaos” (in B2B companies 20 to 40% of the top line is the “Cost of Chaos”), improving the “Cost per Sales Hour”, and managing the Revenue Resources Required that remove the old myths about things like the ability to measure and hold marketing and sales accountable for achieving strategic outcomes.
b) From a strategic view, business has a 5-level strategy that must be executed in order. There is an end-to-end Revenue RoadMap with financial and behavioral outcome metrics for each of the fundamental functions. The CROs Financial Formula will measure any decision based on the leverage from those resources applied.
c) When the Revenue Science™ financial tools are applied the valuation and value at the exit will be controllable and extreme.
You have only one decision to make. The World is Changing, and the 20th Century Myths are exposed, so exactly What Will You Do? Will you wait and hope or bring Revenue Science™ into your world by being certified, hiring Revenue Science™ professionals or both?
Review the four lessons and whatever happens next will be your decision.
Upcoming Revenue Science Certification Classes
Beginning March 17, 2018 or April 21, 2018