Investor Relations/MASTERCLASS/Revenue Maximisation

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

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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?

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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

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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

Founders Time/MASTERCLASS/Revenue Maximisation

Why optimising Uber’s wait time matter to one of the youngest billionaire entrepreneur?

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Why optimising Uber’s wait time matter to one of the youngest billionaire entrepreneur?

Bhavin Turakhia is One of the world’s youngest and amongst the fewest self made billionaire entrepreneurs. For the most he wouldn’t need an introduction. For the one’s who do, please Google / Linkedin.

Read this post from his Linkedin profile:

Exiting from Heathrow airport, he has optimising his Uber’s wait time on his mind!

This is a clear indication of two foundations of entrepreneurial success.

  1. SPEED
  2. PRODUCTIVITY / EFFICIENCY

We are excited about Bhavin’s update because we recently blogged about SPEED and PRODUCTIVITY being the most important elements for business success.

SPEED and PRODUCTIVITY transformed our customers in 2018

The growth stage companies that we worked with in 2018 are seeing transformational change since they started focusing on people training, speed in execution, setting entrepreneurial productivity and sharp focus on mapping goals to people input.

Founders Time/MASTERCLASS/Revenue Maximisation

The biggest battle that Indian growth stage businesses need to win right now

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The biggest battle that Indian growth stage businesses need to win right now

The world is looking upon India as the next big economic growth opportunity. India, China and other parts of Asia are well positioned to grow. But they all face a major challenge – skills training and productivity.

The greatest war for Indian growth stage businesses

For Indian growth stage businesses, the greatest battle to win is of people productivity. Most founders of growth stage companies, especially the one’s that are growing with their own money, they expect more productivity from their people.

Productivity breakdown

  1. Increase in speed of execution (from strategy to actual action)
  2. Increase in overall efficiency (people to be more aware of their time and goals)
  3. Increase in adoption of technology (people to use more tools)

Indian growth stage companies choosing productive consultants than full-timers?

A rising trend across new age growth stage companies is to design special projects with defined timelines and clear goals to achieve. India Inc. is increasingly hiring ultra productive and experienced advisors / consultants to get on the fast track. Such a structure creates a win-win for everyone involved.

The strategy for Indian growth stage founders to grow with sustainability and speed?

  1. Deeply define growth projects with clear processes set to measure execution and goals achievement
  2. Hire experienced advisors / consultants for the first 6-12 months of the project to ensure a clear direction for the project backed with execution
  3. If you already have a team, align the advisor the goal to increase the overall productivity of the team ; if not, let the advisors own the process and the goal, fail fast and build the system for you that will scale as you hire people
  4. Beyond this period build an execution team that follows the set processes and delivers to the responsibilities

 

Founders Time/MASTERCLASS/Revenue Maximisation

Growth stage founders – this is the biggest fight you have to win in 2019

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Growth stage founders – this is the biggest fight you have to win in 2019

2019 is going to be the year of SPEED.

We are calling it the year of speed because technology has already transformed the work we do and the way we do our work. SPEED is going to be the key element that will create unfair advantages especially for growth stage companies.

Speed will matter especially across key growth functions – pre-sales, marketing, support

Our experience working with founders and CXO’s of growth stage companies has revealed an important insight. As the founders invest time in creating structured processes to increase speed across key growth functions, the overall organisational growth increases. It also elevates the overall organisational culture.

The 10 steps to create a culture of speed: 

  1. Kill the comfort zones – Implement technology to track actual execution by your team (GRC)
  2. Re-inforce speed as a culture with a 2 hour training every month
  3. Schedule structured time in your calendar to spot trends
  4. Weed out the bureaucracy + get other fast people on your side
  5. Get to market faster (prepare to learn fast and execute)
  6. Stay under the radar  – you don’t have to PR announce / launch everything
  7. Outsource customer support (we recommend DialDesk)
  8. Be ruthless with resources – a lot more can be done with less
  9. Put the “3” key metrics on the dashboard – nothing else for 6 months
  10. Stay very very close to the customer – involve them as often as possible

Investor Relations/MASTERCLASS/Revenue Maximisation

Instead of chasing investors with Bplans, build meaningful relationships with them

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Instead of chasing investors with Bplans, build meaningful relationships with them

As a firm we have been engaged by a US based social media-app company with headquarters in India and Nepal. For a little over 1.2 years we have been managing relations with the 4000+ investors that have placed their trust and money in the company. 

So, what is required for successful fund raising?

  • Build meaningful and deep relationships with your potential / to-be investors

Do not chase investors with random business plans. They get them in truck loads and most of them either drop out or find the eye of an associate who has this truck loads to sort.

  • Invest at least 4 months to build this relationship: share important signals with the investors/ their fund associates (with your investor relations 3 pager)

If you are a founder with successful past exits, please do not invest your time on this post. But if you are a founder raising money for the first time OR someone raising pre-series A or series A, be prepared that it will take at least 3-6 months. Relationships, especially of money do not get established in a jiffy. At least the successful one’s.

  • Gain the respect of the investor, more than the money

The day you gain the invest of the investor. Even if he/ she is not directly going to write you a cheque, you will get trusted recommendations that will get you closer to your goal.

There is a clear method to all this madness of fund-raising. We invite you to engage our investor relations advisors to go through this journey together.

About the author:
Time and Growth Advisors helps companies maximise revenue with training people, introducing technology and initiate customer involving initiatives.

Investor Relations/MASTERCLASS/Revenue Maximisation

Vision, Trust, Clarity, Metrics are the foundations of successful investor relations

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Vision, Trust, Clarity, Metrics are the foundations of successful investor relations

Whether you are an entrepreneur that has raised venture capital or a creator that has raised money via crowd-funding or a public company, investor relations are important.

Following are the 4 foundations of successful investor relations:

  1. Vision
  2. Trust
  3. Clarity
  4. Metrics

An investor is somebody who is trusting the founder(s) to spend his/ her money a lot better and create much bigger value. The value will translate into wealth creation if the investor – investee relation creates positive breakthroughs.

Investor relations begin a lot before you get the money in the bank

For founders it is important to understand that investor relations begin much before you get the money in the bank. It is a ‘relation’ that is akin to getting married. There are times when you get frustrated, when you do not like each other’s views and you fight, but you have to let the principles / foundation drive you.

Design your investor relations communication with the above principles. You will create more powerful and valuable relationships.

MASTERCLASS/Revenue Maximisation

Who is your customer?

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Who is your customer?

The day you answer this question really really well, you will be on your path to becoming a successful entrepreneur / business.

The best way to answer this question is to analyse who are the customers that you created most value for and do they also feel the same?

Let me start with my own example. The customers that my firm values the most are:

  1. Founders that are doing $1 million to $ 10 million in annual revenue.
  2. They are either single founders or two co-founders.
  3. All of them have an aggressive ambition to grow and have gone through the grind of building a successful business.
  4. Most of them have been unable to breakthrough of the ‘founders habit’ of being a problem solver. Because that makes all problems, their personal problems and they lock their time and value.
  5. Most of them yet do not have a governance system to measure if their people are truly time-efficient OR is the company still crippled with the employee-mindset?
  6. All of them are aggressively keen to understand how they can maximise revenue without a very large investment in people – processes – technology.
  7. All of them have an ‘X’ amount that they will be ready to invest every month for at least 12 months as our fee.

NOTE: the “fee” is always our last consideration because not every customer that can afford us is our customer.

Define your customer extremely according to the qualification criterion above. You will grow by creating meaningful impact.

About the author:
Time and Growth Advisors helps companies maximise revenue with training people, introducing technology and initiate customer involving initiatives.

MASTERCLASS/Revenue Maximisation/Small Business/SME

How can you create a system of revenue maximisation in your company?

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How can you create a system of revenue maximisation in your company?

Revenue maximisation is amongst the top priorities for any founder / CXO / business leader.

Revenue maximisation can occur largely in two ways:

  1. Either you invest in acquiring new customers
  2. You invest in innovation / creating more value for your customers from your existing services

The second part is tough

This is when you challenge your existing services, ideas, solutions. You challenge your teams and you push and inspire your customers to get more feedback on how to be more valuable for them. Sometimes this feedback could be tough to feed in.

How can you create a system of revenue maximisation in your company?

Revenue maximisation is not a one time trick. It has to be a system that is set in place consistently. The steps that most successful organisations take are:

  1. Figure out your most valuable services, products, solutions
  2. Figure out your most valuable customers
  3. See what value have you created with your existing services and customers

Step #4 is the most important in the chain. This is when you host the revenue maximisation workshops with your customers. This is a highly curated workshop that you host to understand how could you be more valuable for your exact customers. (who is your customer in your customers business)?

The day you get this system in place, your business will be a lot more valuable for your customers and their customers further.

About the author:
Time and Growth Advisors helps companies maximise revenue with training people, introducing technology and initiate customer involving initiatives.