To grow your business successfully year over year without just relying on a one-time purchase anomaly from a large key account or hoping your largest client just increases their orders, you need to build a business operating model designed for growth.
Through our best practices research at the Value Forward Group, we have identified an 8 step methodology to build a replicable and scalable revenue capture process to increase success.
These eight steps when implemented together maximize your business process of revenue capture. When each step is addressed in a silo approach, your corporate growth success diminishes.
How many steps have you thought through?
We’ve put together some questions to help you get on track with your strategy. When you try to answer these questions, are you guessing? Are you tied emotionally or financially to your observations?
Step 1: Market and Value Gap Identification
Do you know what your market gap opportunities are and what your current business value identification is? Often corporate divisions, new product/service lines, and private companies are launched based on the gut feeling of the management team and/or the founder?
What is your value? Do know why people buy and don't buy?
Step 2: Operations Model Review and Best Practices Adjustment
Have you analyzed your operations or delivery capabilities for growth? Is your operations or services department holding back your sales and marketing success? Is your operations department an asset or a competitor?
Step 3: Strategy Model Review and Best Practices Adjustment
Have you analyzed your current strategy model for growth potential and best practices? Are you selling red shoes (because you overspent on R&D or inventory) to a blue shoes market? To learn more about the 8 Step Business Growth System, visit this link for more information http://www.thecxogroup.com/intro-business-growth.htm.
Step 4: Financial Management Review and Best Practices Adjustment
Are you managing your company by business and financial metrics? Is your management team knowledgeable about your industry or are they just ambivalent? Growth can be attained for those who manage metrically -- those who don’t will get the same results that they got last year . . . and may not be around next year.
Step 5: Marketing Model Review and Best Practices Adjustment
What is your marketing model? Does your website create website traffic and generate enough sales leads? Do you just keep going to tradeshow after tradeshow spending money and hoping for qualified leads? Do you know how to track marketing return on investment? Is your marketing a planned process or a reactive process?
Step 6: Sales Management Model Review and Best Practices Adjustment
Does your sales management approach operate on metrics and key business drivers? Do you make up your sales quotas and targets in the backroom? Is your sales process replicable and based on best practices?
Step 7: Sales Process Review and Best Practices Adjustment
Does your sales team feel they are a silo or part of a team process? Does your sales team hunt for new business? Do they cold call? Does your sales team lead or feed? Do you provide sales training updates for your team?
Step 8: Business Department Alignment, Gaps Closed and Integrated Together Into One Outbound Revenue Capture Program
Can you access the business growth gaps between your departments? In your company, is revenue capture a company responsibility . . . or the sales team's responsibility?
Each of these eight steps is critical in building a business growth infrastructure and strategic process focused on profitable growth.
The CxO Group’s Value Forward Business Growth System is where you can learn to apply the latest strategies to grow your business using our planned 8 step process. You can learn more about the Value Forward Business Growth System at http://www.thecxogroup.com/intro-business-growth.htm. You may also call us at (972) 727-6880 or email us at info@thecxogroup.com .
The new quarter is upon us . . . are you thinking . . .or are you planning?
"Without continual growth and progress, such words as improvement, achievement, and success have no meaning." Ben Franklin
