Your Revenue Resiliency Toolkit

“The ability to withstand unpredictable threat or change and then to emerge stronger.”

This is how the team at McKinsey & Company defines resilience in their recently published an article on what they call The Resilience Imperative. They elaborate further that resilience is going to be more important in the coming decade than ever before when they explain, “Catastrophic events will grow more frequent but less predictable. They will unfold faster but in more varied ways. Disruption is becoming more frequent and more severe.”

Resilience can be financial, operational, technological, organizational, or reputational in nature but the greatest resiliency comes when an organization can anticipate and respond to threats across all categories to dynamically adapt as needed. Obviously, this kind of resiliency does not just fall into place – it is the result of careful planning to develop a revenue resiliency toolkit.

Topics: Revenue Growth Profitability Profit Sales Leadership B2B Sales Assessment Strategy Strategic Revenue Growth Action Plan B2B SMART Revenue CRO Chief Revenue Officer Revenue Generation Planning Revenue Development Action Plan Change Management

Understanding Revenue Operations

The term “Revenue Operations” is soaring in popularity these days. In fact, Chief Revenue Officer, VP of Revenue Operations, and Director of Revenue Operations are among the fastest growing job titles right now on LinkedIn.

But what is Revenue Operations?

Does your business need it?

And, if you do, how do you establish a Revenue Operations framework?

Revenue Operations (or RevOps for short) is an approach that aims to align sales, marketing, and customer service teams to give them the tools and resources needed to drive predictable revenue. As Bhaskar Roy explains in an article on the rise of Revenue Operations, “RevOps treats revenue not as a fortunate outcome of a quality product, but like a mirror of the supply chain — a pipeline that needs to be powered by optimized business processes.”

Topics: Revenue Growth Profitability Profit Sales Leadership B2B Sales Strategy Strategic Revenue Growth Chief Revenue Officer Revenue Generation KPI Business Development Planning Revenue Development Action Plan

The Revenue Implications of Women Leaving Your Company

The pandemic hit many industries and demographics hard, but some shouldered the burden more than others. Women, especially working mothers, were overwhelmingly negatively affected.

In fact, the 2020 Women in the Workplace report revealed that 25% of working women and over 30% of mothers with young children were “contemplating downshifting their careers or leaving the workforce” with mothers citing increased domestic and child-care responsibilities as their primary motivation for doing so. The study summarized,

“Women in particular have been negatively impacted. Women—especially women of color—are more likely to have been laid off or furloughed during the COVID-19 crisis, stalling their careers and jeopardizing their financial security. The pandemic has intensified challenges that women already faced. Working mothers have always worked a ‘double shift’—a full day of work, followed by hours spent caring for children and doing household labor. Now the supports that made this possible—including school and childcare—have been upended. Meanwhile, Black women already faced more barriers to advancement than most other employees. Today they’re also coping with the disproportionate impact of COVID-19 on the Black community.”

While these challenges impact women individually, the cumulative effect of women leaving the workforce significantly affects the companies they work for as well.

So, how can B2B companies keep women among their ranks and on their leadership teams?

Topics: Revenue Growth Profit Leadership Strategic Revenue Growth B2B SMART Revenue Revenue Generation Sales Training Excellence Business Culture Business Development Brand Integrity Revenue Development Action Plan Change Management

How to Transition from Remote Work to In-Person Sales

In 2020, B2B sales abruptly transitioned from a face-to-face game of relationship-building to a digital game that aimed to do the same. Sales representatives traded long drives and flights for their home offices as companies nationwide closed themselves off to non-essential personnel. Video conferencing and email became the new standard as processes and systems shifted. However, the need to develop and build relationships never faltered.

Now, as companies look toward the future, they need to make difficult decisions about when to move employees back into the office, while considering the needs of both their employees and their clients. The other big issue facing employers is the variety of protocols that will need to continue and be enhanced to bring people back in safely while accounting for the fact that not everyone is planning on getting the vaccine. Ultimately, control of COVID-19 and the rate of vaccination is going to affect the speed with which we return to the workplace.

The timeframe on this decision will be heavily influenced by industry segment. Companies that have an internal focus and can work in a bubble likely have not stopped going into the office, at least to some degree. For example, manufacturers never stopped going into the plant, instead they implemented strict protocols to keep their workforce safe and on the job. However, externally focused companies, like professional services firms, started going back into the office since the first of the year, but are not interacting with clients yet. Meeting with clients and partners is still being done virtually in these settings. Most other companies will likely be back by this fall, all things equal, but not in the same way as before.

Topics: Revenue Growth Profitability Profit Sales Leadership Networking Strategic Revenue Growth Action Plan B2B SMART Revenue CRO Chief Revenue Officer Revenue Generation Commissions Referrals Business Culture Professional Development Revenue Development Action Plan Change Management

Leveraging Top Revenue Drivers in a Post-Pandemic World

In a Harvard Business Review article on how the global economy is recovering in the wake of COVID-19 economists explain,

“In times of crisis it’s tempting to be pessimistic and fearful, in particular if the drivers are unfamiliar or the risks pose credible systemic threats. However, this inclination to pessimism and retreat also carries risks itself and we should remind ourselves that 14% of firms across all sectors typically grow both revenues and margins during downturns. This is not just idiosyncratic luck — i.e. being in the right sector and seeing a demand boost because of the nature of the crisis — it’s driven by a firm’s ability to see beyond the acute phase of a crisis and exploit its idiosyncrasies to drive differential growth in new areas. While monitoring the overall macro landscape remains important, leaders should not underestimate the importance of measuring, interpreting, and exploiting the dynamics of their own sectors and markets in order to be able to invest and flourish during the recovery and the post-crisis period.”

While organizations have already pivoted to withstand this year-long disruption, there is still work to be done. The goal now is to ride the growth curve as the economy swings upward up to avoid being left behind.

Topics: Revenue Growth Profit Strategic Revenue Growth Revenue Generation Business Development Revenue Development Action Plan

Shifting Buyer Priorities: Understanding the B2B Landscape    in 2021

2020 saw the biggest shift in B2B buying, selling, and marketing in recent history. What was originally speculated to be a temporary pivot ended up being a cataclysmic shift in how revenue is generated in B2B organizations. The trends and strategies that emerged have permanently altered the future of B2B buying.

The biggest change to the B2B landscape over the last year has been the move to digital selling strategies. Digital is now the preferred contact and buying method for B2B buyers to do research, order products, and schedule service. And like many of the changes we have seen arise in 2020, the digital trend does not appear to be going anywhere any time soon. In fact, 80% of B2B buyers want to stick with digital interactions (remote interactions and digital self-serve) in 2021 and beyond.

Topics: Revenue Growth Profit Sales B2B Sales Strategy Strategic Revenue Growth B2B Technology Customer Relationship Management Business Culture Business Development Change Management

How to Make a Profitable Revenue Generation Plan

Executive leaders know there is always a push to generate more profitable revenue. However, the end of a fiscal year creates added pressure as companies strategize and plan for the coming year.

Your company’s success next year depends on the planning you are doing now.

So, what does your strategic revenue plan look like for next year? Ask yourself:

  • Where will revenue come from?
  • How will you prune your client base and modify offerings to increase profitability?
  • Can you trust your forecasts and existing sales processes, or do they need to be updated?
  • How will you encourage cross-functional efficiencies between sales and marketing?
  • Who will provide unbiased advice to leadership when big decisions must be made?

An effective revenue plan answers these questions and more.

Topics: Revenue Growth Profitability Profit Strategy Strategic Revenue Growth Revenue Generation Planning Revenue Development Action Plan

Is Your Revenue Strategy Antifragile?

Turning Market Disruptions into Strategic Growth

The pandemic has led us to ask many questions.

“Are we really more productive working from home?”

“If this is the future of work, how do we keep making sales and growing revenue?”

And mostly, “How are some businesses thriving right now when so many are struggling and failing? How are they turning barriers and disruptions into revenue growth, and how can we too?”

The answer is antifragility.

The conversation happening at most organizations right now is centered around pivoting strategy to make up for lost revenue in 2020. When this is the topic, the focus is on simply getting back to neutral – filling in the hole that the pandemic caused when it upset the market this year and hoping that next year will provide an easier opportunity for growth.

But what if these sweeping disruptions could be a catalyst for growth right now instead? What if the conversation were about how much your business could grow instead of whether it would survive?

Topics: Profitability Profit Leadership Strategic Revenue Growth Action Plan Revenue Generation Business Development Planning Revenue Development Action Plan Change Management