MASTERCLASS/Networking/Revenue Maximisation/Small Business

Is your business growth strategy ‘at’ or ‘with’ your customers?

Posted on
Is your business growth strategy ‘at’ or ‘with’ your customers?

We need more sales, more growth – how can you help?

We have increased our sales targets. We have to grow faster. We know our sales funnels. We have also experimented with more funnels last year. But what else can we do – that is what we have hired you for. We know you can’t sell for us, but what is it that we ought to know?

Is your business growth strategy at or with your customers?

Small and medium businesses that engage us to create programs to engage their customers, they all mostly miss a very important point. In their aggression for more growth, they start marketing ‘at’ their customers. They start doing more to attract the attention of a much larger set of their customers.

How do you design engagement programs that your customers willingly join?

Categorise your customers into micro-tribes that have common interests. Example, if you are a taxation and law firm, your customers are CFO’s in large companies, CEOs and Founders in emerging companies and Founders mostly in startups.

Each one of these customers are at a certain journey in their life professionally and personally.

Ask yourself : what will be of interest to these micro-tribes that they willingly will join and share?

Once you have the interest areas (professional and personal) mapped for these micro-tribes take the following 2 steps:

  1. Figure out how your services / solutions / products can add to their growth?
  2. Invite them to help you build a better service / solution / product.

Now invite them to help you build a better solution

Ask your customers if they would like to be part of the micro-tribe of similar people that are helping to build a better solution. Give them the authority and share with them the rewards.

Engage our advisors to design communities of customers that grow your business.
Investor Relations/MASTERCLASS/Revenue Maximisation

So your customer pays $1 today, when will he pay $5 in your proposed lifecycle?

Posted on
So your customer pays $1 today, when will he pay $5 in your proposed lifecycle?

The smartest entrepreneurs in the world know the answer to the question above. They know it not in theory. They know it not by creating jazzy excel sheets and business models.

The smartest founders know revenue maximisation from their customers because they have gone through several important cycles of ‘knowing the customer’ and ‘what top value is he/ she paying for?’

What does ‘know your customer’ actually mean?

One of the most important elements of knowing your customer meaningfully enough is to understand if he/ she is truly your customer? An important sub-element is to understand how will this customer fit into your revenue maximisation goals as you create more value over the lifecycle?

Revenue maximisation happens with revenue, not on excel sheets

Our investor relations advisors work with entrepreneurs to help them build trusted investor relationships. The one important step in the journey is to prepare fact sheets that do not have random percentages and assumptions. A strong fact sheet gives a deep view of the founders maturity especially in understanding the customer and the proposed revenue hence.

The founder’s depth of understanding the customer lifecycle and the customer will always lead to building a successful business that is trusted by investors, employees and other stakeholders.

Founders Time/Investor Relations/MASTERCLASS/Revenue Maximisation

How can pure services and productised service companies maximise revenue?

Posted on
How can pure services and productised service companies maximise revenue?

Revenue maximisation is important especially for services only companies and productised services companies.

Define revenue maximisation – who is the customer?

  • Is revenue maximisation related to your customers, investors or your employees or all of them?

Design initiatives that involve the customer very meaningfully.

  • Investor relations – before you raise money, aim to gain mutual respect with a great relationship
  • Customer relations – before you ask the customer to pay more, ask how you can be responsible for more of their wins?
  • Employee relations – upgrade people skills and make them ready for deeper and more valuable journeys in your organisation

Customers today demand more without having to spend more, how can services companies address this challenge?

The smartest way to do this is to think and act like a consulting firm.

  • Engage your customer deeply in the customer involvement initiative that you have designed. Let the customer deeply describe what exact value are they seeking and what would they invest to solve this problem?
  • Help the customer deeply define the problem statement and suggest innovative solutions that reduce overall cost of ownership and get your customers closer to the results they want to achieve.

Founders Time/MASTERCLASS/Revenue Maximisation

Steve Jobs explained why operational productivity is the key to business growth

Posted on
Steve Jobs explained why operational productivity is the key to business growth

In a 1992 talk at MIT, Steve Jobs spoke on a variety of topics. One of the most important was why operational productivity matters for business growth than management productivity.

From Apple to NeXT. From management to operational productivity!

Steve shared the fantastic example of the thinking philosophy that the Macintosh team had at Apple. He then related it to the problem that NeXT was solving. He focused more on the value of building software that solves operational challenges and brings more productivity and efficiency.

Operational productivity is what growth stage founders must optimise

For growth stage founders the critical war to win is to increase operational productivity. If the people responsible for delivery and growth are under productive it directly impacts founders time leverage and hence organisational efficiency, costs and success.

How to build operational productivity?

  1. Software / tools
    1. Improve online collaboration and communication
    2. Time tracking for tasks – are people spending more time than they normally should in defined tasks?
    3. Improve customer interaction – tools that automate customer interaction (eg: chat bots) and others that lead to quick answers to queries/ questions
    4. Improve reporting – define the metrics to track and use dash-boarding tools
  2. Training
    1. No technology can create positive change if the people using it are not aligned to the larger goal and inspired to increase operational productivity

Steve Job’s talk at MIT