Like any science, “Revenue Generation” has principles that you can embrace and receive the benefits from or you can ignore them and continuously pay the price for fighting the science. Two of those nine principles are:
- Revenue Principle #4 –You are always in transition regardless of the market conditions!
- Revenue Principle #8 – Be proactive, not reactive!
Every business plays The Revenue Game. Some embrace the principles of revenue science and do very well. Others pretend that revenue is a result of something beyond their control, and if they just keep their head down and work hard, somehow everything will work out well for the good guys.
Of course, when you see the second option in writing, it is ridiculous, but most business owners or CEOs never see it in writing so they keep their heads down and tell their teams to work hard for that “good guys” result.
Principle #4 reminds us that no matter how comfortable we are with today, it will be gone in the morning. Likewise, no matter how bad things are today, we can be the winner tomorrow if to proactively embrace and apply the science to our revenue strategy, because everything is in transition.
Principle #4 – transitions show up in so many ways:
- One of our longest term employees is not up to the job requirements of today.
- Two of our best long-term customers just don’t fit our business model.
- Our biggest competitor is gone, and we are challenged by a company from a different industry.
- Our customers only care about price.
- The new young employees have different goals.
- The government creates new regulations every year.
- The international market impacts us.
- Washington keeps making it harder and more expensive.
- The economy has changed again.
- Technology is so different and demanded by our customers and staff.
Those that embrace the science have a deployable revenue strategy in place, and as the world changes the strategy can be deployed in a different way based on the transition, or the strategy can be changed if the transitions are that great.
Those that keep their heads down and just work harder don’t even see the transitions until they have no more work to do, and when they finally look up, they see a new world they don’t know how to react to.
Principle #9 must become part of the culture.
Applying the science of “Revenue Generation” is proactive by nature. Your longest employee, biggest competitor, customers, employees and the rest of the elements of the global community are all moving as single elements and as a group and will never stop. In the US, industries like cars, appliances, computers, telecommunications and transportation all created comfortable bubbles that burst leaving confusion and destruction because the transitions were ignored, and proactive change was viewed as a threat instead of the way to long-term success and prosperity.
So what are the 3 things you must do in order to see the transitions and the 3 proactive things you need to do to lead your company through the transition to get the benefits from the transition vs. getting run over by the transitions and then trying to catch up.
Principle #4 – 3 key things you must do to see the transitions:
- You must have an intentional revenue strategy that you have deployed. This is your “Stake in the ground” to measure the change around you. http://tinyurl.com/7kwjfn8
- Listen to your People http://tinyurl.com/7ll6jy3. The challenge with listening is every member of your team speaks their own language so you need to apply the language from the Science of “Revenue Generation” to get everyone on the same page. Then listen, learn and measure.
- Deploy your Revenue Strategy in a structured way and say NO a lot where the opportunity doesn’t fit your strategy. If you say yes to everything, you have removed your “Stake in the ground” and don’t know where you started or where you are or what has transitioned. http://tinyurl.com/chwlrmd
Principle #8 – 3 key things to be proactive:
- In your Revenue Strategy, declare your value to the market and how you will deploy that value. When the market responds to the value, then you track everything on the BellCurve tool http://tinyurl.com/3jx8zmy and be sure you are following your strategic RoadMap.
- Every revenue strategy has a thought leadership requirement. So proclaim your leadership position and only give it up when you have a better one. http://tinyurl.com/3zahxvg
- Announce your value to the niche or niches you dominate and then play your version of The Revenue Game and “delight your ideal customers” in your niches. http://tinyurl.com/cj8jqr
Throughout life, we watch things change, and we plan for that change (think retirement) so apply that to the revenue process of your business.
Get clear about where you are and how the world is changing around you, while you declare and deploy your value to your ideal buyer in those niches you dominate.
No matter how good it feels today, don’t be comfortable – if you are comfortable, you are about to lose.