Death to The 20th Century Revenue Myths

At the start of the 20^th Century, there were no CEOs, CIOs, CTOs, or CFOs. There was no Lean or Six Sigma.  The first digital computer was not invented. Most homes didn’t have a telephone, and no one even knew they needed a TV.   Cars were measured by the total number in a city or state, and millions of people had never seen one.

Only the largest corporations used terms like president, chairman and vice president.  Most organizations were small, flat, uncomplicated, and local in focus.  By the end of the century, TVs were in every room, cars in every garage and cell phones in every pocket.  In the 21^st Century, not only do we have CEOs, CIOs, CTOs, and CFOs to support things like global supply chain and distribution, but now we have the ”21^st Century Science of “Revenue Generation,” which requires CRO Thinking and deployment skills.

“Revenue Science” adds a new strategic office to the leadership team, the CRO (Chief Revenue Officer) who brings “new rules” and “new tools.”  Those of us who want to survive and thrive must learn “Revenue Science” Rules and Tools.  Not using the teachings from “Revenue Science” would be like ignoring computers, medical science, and the requirement to keep learning.

Welcome to the 21^st Century Science of “Revenue Generation” and CRO Thinking.  If you have committed to surviving and thriving in the 21^st Century, you must stop doing stuff from the 20^th Century like:

1. Cold Calling
2. Measuring activity unrelated to required buyer behaviors and outcomes
3. Pitching vs. having a customer-focused conversation (about the problem)
4. Selling on price
5. Letting the buyer make you a vendor

To survive and thrive in the 21^st Century, you must do 21st Century “Revenue Science” things like:

1. Communicating EVERYTHING from the buyer’s frame of reference
2. Being clear about the customer’s problem you solve that NO one else solves
3. Making sure the value of the customer’s problem and the value you receive for solving that problem are clear and reasonable to both parties and you get paid based on the value delivered
4. Saying NO to anything not aligned to your True North Revenue Strategy
5. Deciding if you are a partner or a vendor and then always acting like it
6. Having an organizational worthy intention (a BIG Purpose) and never compromising that
7. Manage your Revenue Resources Required to execute your Revenue Strategy for the greatest possible leverage
8. Intentionally applying “Revenue Science” to every part of your business
9. Knowing if you are an infinite or finite business and acting like it
10. “Living a Revenue Culture” where you Maximize Profits after you Optimize a People First Culture

This is a new world for business.  Those who apply “Revenue Science” will find and benefit from the GREAT long-term opportunity.  Those who ignore the demands of this new century will be consumed by it.

You decide what next – Last century’s Myths or “Revenue Science,” Finite or Infinite, Random Culture or “Revenue Culture” – remember you earn what you get.