The 20th Century Revenue Myth
At the start of the 20th Century, there were no CEOs, CIOs, CTOs or CFOs. There was no Lean or Six Sigma. The first computer was not invented. Most homes didn’t have a telephone, and no one even knew they needed a TV. Cars were measured by the total number in a city or state, and thousands of people had never seen one.
Only the largest corporations used terms like president, chairman and vice president. Most organizations were small, flat, uncomplicated and local in focus. By the end of the century, TVs were in every room, cars in every garage and cell phones in every pocket. In the 21st Century, not only do we have CEOs, CIOs, CTOs and CFOs to support things like global supply chain and distribution, but now we have the ”21st Century Science of “Revenue Generation,” which requires CRO Thinking and deployment skills.
“Revenue Science” adds a new strategic office to the leadership team, the CRO (Chief Revenue Officer) who brings “new rules” and “new tools.” Those of us who want to survive and thrive must learn “Revenue Science” Rules and Tools. Not using the teachings from “Revenue Science” would be like ignoring computers, medical science and the requirement to keep learning.
Welcome to the 21st Century Science of “Revenue Generation” and CRO Thinking. If you have committed to surviving and thriving in the 21st Century, you must stop doing stuff from the 20th Century like:
- Cold Calling
- Measuring activity unrelated to required outcomes
- Pitching vs. having a customer-focused conversation (on the problem)
- Selling on price
- Letting the buyer make you a vendor
To survive and thrive in the 21st Century, you must do 21st Century “Revenue Science” things like:
- Communicating EVERYTHING from the buyer’s frame of reference
- Being clear about the customer’s problem you solve that NO one else solves
- Making sure the value of the customer’s problem and the value you receive for solving that problem are clear and reasonable to both parties
- Saying NO to anything not aligned to your True North Revenue Strategy
- Deciding if you are a partner or a vendor and then always act like it
- Having an organizational worthy intention and never compromising that
- Manage your Revenue Resources Required to execute your Revenue Strategy for the greatest possible leverage
- Intentionally applying “Revenue Science” to every part of your business.
This is a new world for business. Those who apply “Revenue Science” will find and benefit from GREAT opportunity. Those who ignore the demands of this new century will be consumed by it.
You decide what next – Myths or “Revenue Science.”
Tags: Vistage International
Where does Cold Calling 2.0 stand? Aaron Ross has done quite a job of developing this methodology, and took Salesforce.com enterprise business to $100MM. This has created a profiferation of Outbound eMail campaign companies (Carburetor). Would you consider that Cold Calling?
Thanks for your comment, Jim. We recently did a webinar with Aaron Ross. You can view that here: https://www.youtube.com/watch?v=1b69h4D2bLs&feature=youtu.be&noredirect=1 . You may also find more from Rick here on cold calling here: http://blog.vistage.com/sales/myth-sales-focus/