I get a lot of people asking me “how do I double our revenue?” And the answer is, there isn’t a quick-fix solution.
However, recognizing and focusing on these three core elements will help improve and increase organizational revenue. If we strip out some of the complex ways we can grow revenue, such as new product development, entering new markets, engaging new channels or forming partnerships, there are really only three things we can do:
1.More leads – is about generating opportunities. Are you using all the prospecting tools you could, social selling, content marketing, etc?
2. More clients – is about managing opportunities, converting more of those opportunities into orders. What are the ratios like in your business? How many of your proposals are accepted? How many clients go on to repeat business?
3. More sales – is then about managing relationships and improving the business you do with any given customer, up-selling and cross selling, for example
All of this contributes to revenue growth!
Now you might be asking, what is my next step?
I recommend arranging a team meeting (or equivalent) to discuss ideas around these three key themes, generating activity ideas for what they can put in place to do. Collaboratively identifying what you can do as a team this week or next month to get more leads, more clients and more sales will help provide a direction; a shared vision.
If you would like help with putting an effective development plan in place and achieving business growth, please do contact us.
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