5 CEO Steps To Shorten Revenue Cycles
Used By CEOs Who Doubled Revenue & Profit
Fact: Long revenue cycles kill businesses and make sales jobs and sales management a nightmare. Ever heard the phrase, “sales is a dog-eat-dog world,” spoken with expletives?
Find out how many of these five steps are truly apart of your leadership. Take two minutes and check out what the few CEO’s who doubled and even quadrupled revenue and profit did to make it happen. Studies with over 42,000 global business leaders from a variety of industries reveal only 7% doubled revenues and profits in less than three years. Their revelations show that a fine line exists between clever and stupid. What you think you know and what you make happen in real life are different worlds apart.
If you want to make your sales people more successful follow the steps of these CEOs who proved their skills to grow substantially on the bottom line. See how you match up against leaders who doubled profit, then decide if some changes are needed in your day-to-day tactics. Here is what the 7% did in an announced and dedicated manner to everyone involved in their growth success:
- Stopped pretending they know their exact target buyers– Come to grips and admit there is not a sufficient measurable operational sales plan at the frontline with direct sales and or channel sales. They also got real about the usefulness of the current contact record management system (CRM); does it contain all the precise buyer contact information that is critical to selling, meaning, the extent you can push a button and see at least 90% of your exact buyers details and contact information. NOT just the target company but the actual people-buyers. Additionally, they realized the few basic mission critical activities for the businesses’ survival and growth were not being identified, measured, reported and rewarded properly. Then they fixed this.
- Reengineered their Operational Sales & Marketing Plan And Tactics– Got in the mud to get all pertinent people involved in building the best plan, named champions to help implement it and got buy-in on the plan from the people. They plotted out exact daily measurable mission critical tasks required to meet sales goals by reverse engineering the mission critical metrics in accordance to the operational capacity, sales budget, sales forecast and sales closing rate V.S. sales goals. Ultimately, they rallied the people behind a unified and accountable plan, which is like riding a bull.
- Utilized Modes-To-Market Measurably And In Multiple- They stopped getting attention deficit disorder when sales and marketing nuts and bolts were discussed and got involved. They faced the facts about branding even when they had no brand or were too small for most to think it mattered and they defined the actual touch points and tactics to “reach out and touch” the actual buyers. They used multiple Modes to contact and win more qualified leads cost effectively. Note the Modes-To-Market commonly used together for the greatest success is: Research/Identifying Buyers, CRM to make the data lucrative, face to face interaction with buyers, phone discussions with buyers, referral systems to foster word of mouth, targeted emails with the buyers, strategic trade shows and events, authoritative collateral to pass muster, social media where buyers are at, Web Presence to maintain stature and make new sales…. To name the top Modes-To-Market used; excluding radio-TV-Bill Boards, which doesn’t meet everyone’s budget.
- Demanded Sales Meetings Be Converted To Qualified, Scheduled-In-Stone Next Steps- Drew a line in the sand for the acceptable and exceptional amount of times a sales person can conclude a first encounter with a buyer and have the next step lined up qualified, solid and on the calendar with buyers. With out sales conversion standards for each encounter with the buyers then you are burning money. The next step with buyers does not always mean the sale is won; it often needs to be a progression to that winning point. They also explored new markets once they developed a, C-R-P, Consistent-Repeatable-Processes for acquiring new business. They recognized and gained the ability to become experts in getting to and making it easy for customers to say yes.
- Evolved This System With Simple But Mission Critical Results Reports- They enforced a simple and fast way for everyone involved with marketing and sales either directly or indirectly to report weekly on their specific designated mission critical activities. This enabled a quality atmosphere where; the A players stay and make more money and B players can be progressed into A players, while C and below players are dismissed immediately. Excellence and professionalism along with fair and equitable pay flourished with the measurement system. Like all things, changes are inevitable, and this group dealt with change better by using the daily reports to stay ahead of troubles and make adjustments along the way. Because of this communication became stronger. They epitomized the goal of leadership, which is to excel in Continuous-Improvement-Processes (CIP).
Sound too simple or like something you already know as a business leader? Be careful then because these findings come from global studies and surveys conducted with a variety of leaders in different industries, over the past several years. Your financial bottom line the past few years is your actual grade on where you score amongst your peers because it cannot lie or exaggerate over time. Make a plan and implement the five steps.
The research strikingly reveals commonality in both strategy and business development execution used by the 7% of leaders out of 42,700 who were able to at least double sales and profits. Many of them quadrupled sales and profits in less than five years. The research reveals a gruesome truth about the majority of business leaders in that approximately, “7 out of 10 business leaders thought they already knew these five steps to double and or were already doing it, however, their actual results proved they were not doing it right or making changes to any of the five steps.” Hence the reason the first step is about denial. Striking how those leaders who doubled their company’s sales and profits all had to go through step one first to get the other steps worked out. Breaking denial empowered them to get their people out of denial too.
These five steps parallel a sales methodology known as, Renaissance; also written as, R+E+NxAISS(A+N+C)E=$. The Renaissance Methodology was developed in 2001 by CEO, David Rose who has brought billions of dollars in growth to other CEOs who are aggressive enough to shake up their company just enough in order to get everyone involved in business development, on the same simple and measurable plan. The plan simply put, is to get more qualified leads and close more business using the people and resources you have already. Some call this, “beating the competition ethically and decisively with great product, service, people and processes.” Renaissance Methodology agrees and builds what David Rose coined as, C-R-P, Consistent-Repeatable-Processes for organic growth and M&A.
Make no mistake about it, revenue cycle management, also known as sales management and sales effectiveness, in addition to many other names, is usually at the top of every leader’s goal list. Luckily, it does not have to be excruciatingly difficult to double and quadruple profits. If you are interested in discussing in greater detail about how to get results like the small percentage of CEOs globally that actually double revenues and profits then contact C-LevelGlobal.com. C-Level Global works with business leaders to shorten revenue cycles by working the CEOs to get more leads and close much more business using proprietary and proven methodology.
Contact C-Level Global’s CEO, David Rose; rather you are needing to break through to your target buyers to get substantially more leads, sell a lot more effectively at the right margins to grow, integrating companies and business development divisions or if you just believe you need to enhance training for your sales and marketing people right now so you get an instant results boost. David works with CEOs and implements growth projects and turn around management situations. He does speaking engagements with corporations based on his schedule’s availability. He can also be requested to speak in Universities.
Topic: Sales, Private Equity, Venture Capital, Sales Training and Sales Management