As we head towards a new year, it is as a time as any to take a look at the basics again.
Why?
Actually, it is always a good time to look at the basics.
When we are talking about revenue generation, there are 10 basics areas that I like to start with before I try to do anything else.
I’ve found that the basics are really where most issues can be fixed.
So let’s look at the 10 areas I look at before I look at anything else.
1. Is your focus on the customer?
This seems simple, but a lot of companies are so fixated on themselves and navel gazing at their own “specialness” that they forget all about the customer.
The thing about anything is that you can’t be too far ahead of the market or you aren’t going to find a lot of customers.
Think about how Apple is always slammed for not being bleeding edge, but they do something more important, they stay just ahead of their market with cool technologies that aren’t too far of the curve for the market to accept.
2. Create unique and specific value:
Everything begins with value.
Are you creating enough value that is unique?
Or, are you just offering up something that is basically me too?
3. Your brand should lead the way:
How strong is your brand?
Does your brand tell a story?
Is your brand something you can be proud of?
4. Do you have an actionable strategy?
Too many strategies are dusty, never looked at documents resting on a shelf or hard drive somewhere…never to be acted upon.
An actionable strategy is something better.
It is something simple that revolves around 3 simple concepts:
- value
- customers
- marketing that reaches customers where they are likely to be listening
5. Sales, nothing happens without sales
If you can’t make a sale, your revenue won’t grow.
Are you targeting the right prospects?
Is your pipeline solid?
How’s the closing ratio?
6. Marketing is your muscle
Marketing is all about storytelling.
Marketing takes the strategy that you developed and turns it into a narrative that enables you to have the sales conversations that you need to drive revenue.
7. Are you managing the right things?
Management is a key factor in revenue generation.
Are you setting the right tone?
Are you managing for outcomes over activities?
Are you setting up the proper systems?
8. Growth in everything
I love the idea of the growth mindset.
Are you focusing on growing the business in many ways?
Are you in a constant state of reinvention and growth?
9. Lifetime customer value
Are you maximizing your customers?
It is much easier to keep the customers you have happy than it is to bring in new ones.
Are you upsetting? Educating? Getting referrals?
10. ID-ing high value customers and prospects
Are you taking any business that comes your way?
Are you focused on high value customers?
Do you know what a good customer looks like?