“The goal of forecasting is not to predict the future but to tell you what you need to know to take meaningful action in the present.” - Paul Saffo
Market volatility and economic disruption are once again becoming the norm, making it more vital than ever that businesses have a strong grip on their revenue forecasts. Not only does strong revenue predictability provide a solid platform for critical decision-making, but it has also proven to be a winning business practice.
Extraordinary contribution changes not just the recipient, but the giver as well…
The hard part isn't working for free. The hard part is figuring out that this is your chance to do more than you're asked, to resist being unpaid labor for an organization too cheap to pay you properly. Instead, this is a rare moment to leap.”
Those who are still trying to figure out how to show up and be consistent are in the early part of their journey. Without a foundation of skills and expertise, ‘leaping’ does require some good judgment.
When that time comes, they can look at their skills, talents and how they make an impact… and sometimes will have an epiphany: “it matters”. That is when they go beyond marketing – and leap… which leads to bigger rewards for everyone.
Here is a list of my top recommended books every leader who is responsible for growing revenue should have in their library. This list includes books focused on sales, marketing, leadership and personal development.
The things I want to know are in books; my best friend is the man who'll get me a book I ain't read. - Abraham Lincoln
What is my criteria for adding a book as a “favorite”? Such a book keeps me interested and offers a return on investment for the time. The return on the time invested to read the book might be a new idea or something that improves the business in a significant way. These books have influenced not only my business decisions, they have also offered new opportunities for personal development.
Nobody wants to have a ‘networking conversation,’ especially those who are at the highest levels of business. They are hungry for real conversations and real relationships. It has to be authentic, genuine and sincere.” - Rich Stromback
Even with a plethora of information, books, classes and generous experts, rooms are full of people who have yet to develop excellent communication skills (and who you prefer to avoid).
It appears the top 20% of your sales team are closing 80% of the deals. This reality of 80-20 performance, where approximately 20 percent of salespeople produce approximately 80 percent of sales, can be disappointing. (Though it validates Pareto’s Principle).
Pareto’s Principle was named after Vilfredo Pareto (1848-1923), an Italian economist who observed that for certain economic conditions, roughly 80% of the effects come from 20% of the causes.
Instead of accepting Pareto’s Principle as a standard, I would prefer to see your team perform with excellence. Inspiring and leading a team to break away from average can be difficult if they are following the crowd and paying attention to what ‘everyone’ follows. I learned firsthand the importance of a network, excellent habits and a mindset of high standards when I grew a business from $4 million to $16 million over the course of four years.
Today I want to share thoughts, habits, and mindsets that help many to be a top 5% sales professional and potentially break Pareto’s Principle.
The most successful Chief Revenue Officers are not afraid to think outside of the box. To have big, out-of-the-box ideas, a company must have employees who are not intimidated by creativity, innovation, and inventiveness.
How things have changed: The competitive marketplace has been disrupted with key trends over the last several years. The disruptions and new trends require companies to create repeatable and predictable revenue that scales:
Who has their finger on the pulse of revenue growth (for both marketing and sales) across the entire revenue process – from prospects to leads to pipeline to revenue?
The person who can lead the way with a new kind of analysis and execution crucial to the business in today's business world is the Chief Revenue Officer, or CRO.
Last week I attended the “Getting the Deal Done Breakfast Conference” in Bellevue, WA. The topic was: “The Importance of Strategy and Culture in Middle Market Companies and Deal Making.” The conference was outstanding with 100 attendees benefiting from the expert panel, keynote and networking.
