3 steps to revenue generation in your business
The world is full of so-called experts who are more than happy to tell you what to do.
For example, you could be minding your own business on a plane when someone sitting nearby decides to give you advice on how to solve a problem. Similarly, there’s an endless supply of how-to books, websites and videos that promise to give you the right method for accomplishing your goals, whatever they may be.
With so many learned individuals pointing you in the right direction, you can’t possibly go wrong — right? Think again.
Consider, for example, the advice you may have received from someone about how to generate revenue in your company. The closer you get to applying that person’s approach to your company, the more likely you’ll discover that their approach is wrong for your situation, industry or client.
Here’s the thing: Wrong is more about the context than the content. In all fairness, that advisor’s approach very likely has worked. For them. In the unique context of their business. The last time they used it, at least.
The same could be said of family dynamics. As a parent, there’s nothing more important than how you communicate with your children. Parents of toddlers will proudly give you a show-and-tell of all the wonderful communication tips that work for them. Those raising teenagers may be happy to share approaches that proved successful — and, doubtless, just as many that didn’t. But what happens when you apply their well-meaning wisdom with your kids? If only two sets of kids (or parents, for that matter) were identical. That’s true of businesses as well.
So why do we think that there’s only one size, process, cold-calling script or set of keywords that always leads to revenue generation?
Revenue generation requires context. It also takes a set of tools — a methodology, language, metrics and proven discipline — to figure out what leads to high-value outcomes. You need tools to confirm your strategy and suggest adjustments that ensure the best possible outcomes.
What’s the difference between winning consistently and intentionally — or only occasionally? These three powerful steps:
1. Think first. Diagnose the context and concepts of revenue generation.
2. Say to yourself and others what you believe is the best way forward. Get agreement from internal and external teams on how to best achieve the strategic outcomes.
3. Do what you think is best. Follow through on what you’ve thought and shared. However, if the actual “doing” modifies your thinking, start the process over. Align the execution to clarify the context and the concept so that you can start over within the right context.
The bigger the organization, the more important it is to have these three steps encased in a repeatable discipline. All too often, large firms have measured activities and spoken intentions that have little or no reference to the context or concepts that drive outcomes. In this scenario, when things go wrong, the appropriate course correction is to direct your team to do more of the same activities and do them right. Show them how it works.