In this issue, we talk about the 5 steps to grow your business. I look forward to your comments. 

 

 

 Rick Erling
(972) 727-6880
 
  

Jim Collins, author of the book "Good To Great" in his new book "Great By Choice" talks about how sustainable growth in any economic market requires a dedicated plan to succeed. He also stated that the companies who consistently grow top line revenues are never the companies who try to hit home runs every day but instead are the premeditated firms who stick to their core competencies, understand their strategy and execute their success model.
 
Planned business growth starts with defining your targeted prospect's needs and understanding how they perceive your business value. To successfully grow your business year over year without 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 Value Forward, we have identified a 5-step methodology to build a replicable and scalable revenue capture process to increase revenue capture success. These 5 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?
 
When you try to answer these questions, are you guessing? Are you emotionally or financially tied 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 you know why people buy and don't buy?
 
Step 2: Strategy and Marketing 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? Learn more about the 7 Step Business Growth System and how we walk our clients through each sequential step to drive performance.
 
Step 3: Business Financial Model Control System
Best practice financial management programs and control systems needed to be implemented to maximize department profitability, new prospect profitability and client lifetime value improvement that should be used in this crazy economy that we are in.
 
Step 4: Sales Management Model Development
Once step three is completed, we then focus on sales management programs, success metrics, forecasting approaches and sales team strategies to induce a revenue capture process that drives company performance.
 
Step 5: Sales Process Model Development - Growth System Integration
Once step one through four are implemented, we then concentrate on sales method techniques and strategy best practices that work in today's economy - and what action steps your sales team members can implement immediately to help them sell more products or services . . . right now!
 
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 five steps is critical in building a business growth infrastructure and strategic process focused on profitable growth and driving business valuation.

The New Year fast approaching. Are you thinking . . . or are you planning?

P.S. Click to download our Sales, Marketing and Strategy Seminars brochure now.
 

 I welcome your comments.

 To your success,

Rick Erling