INDEED, 10 MANAGEMENT LESSONS TO INCREASE THE NUMBER OF PURCHASES
Generally, you have to figure it out if your eyes are set on becoming a hyper-growth company. You can create a stream of predictable revenue and make the business scalable—all of which are essential for hyper-growth.
The FaceValue Application creates predictable revenue for you. Using the Application is intuitive and has everything you need to run successful lead-gen programs and to increase your number of purchases.
You can learn from success and failures. Because what went wrong is obvious and leaves a resounding impression you can't ignore. Learning from success is harder because success covers up mistakes. Benefit from these 10 management lessons to generate more purchases.
Lesson #1: Stop blaming others
Nobody wants to hear "can't" or "it's not my fault." it's not Marketing. It's not Product. It's not your salespeople. It's on you. There is always a solution, even if it's not obvious. You need to help drive the organization to the solution to the problem.
Lesson #2: Build for the present, not the past
Sometimes changing one thing-lead velocity, average sales price, sales cycle, pricing model, target market, competition, stage, and so on-might mean you need to take a totally different approach to generating leads and selling.
Be objective and honest with yourself, because it's hard to admit you might be wrong, need to change your plan, or even admit that you don't know what to do or sometimes feel lost!
Lesson #3: Hire the best-period
The reality is that any hiring shortcut you take now means you are going to have to work 10 times more later to compensate for any shortfalls, such as running too many of your reps' deals because they can't close them themselves, having to coach too much, having high sales team turnover, or missed goals.
Lesson #4: Pay well for success
We don't get CEOs or VPs of Sales who are cheap when it comes to paying their salespeople. It's incredibly hard to find great sales talent, much less hire and retain them and pay them well.
Lesson #5: Make sure the CEO fits
Don't take a job just for the title, investors, or company. Pick the wrong CEO to work with, and you'll be miserable. be honest about what works for you before you make a decision.
Lesson #6: Drive deal size up as quickly as possible
Small deals pat the bills, big deals drive growth. Small deals are a fantastic way to get started, get fast feedback, and build testimonials and word of mouth. But fast revenue growth usually occurs with bigger deals.
Lesson #7: Great reps perform in 30 days
There are first reps that close €150,000 in their first 30 days. You won't always see sales numbers rise that fast, but if your gut tells you that a person was a mis-hire, your gut is probably right.
Lesson #8: Honestly is critical, up and down the sales stack
There is a bias toward being dishonest in sales. You and your reps are too optimistic about deals, and this clouds the truth.
Not knowing where reps and managers honestly stand with deals, pipelines, or each other-creates uncertainty and anxiety. You can't forecast without coaching reps to be brutally honest about deals.
Lesson #9: Great sales teams stay together
Again and again. Folks who know how to make a lot of money together want to continue to do so. You should see very little churn among your top sales team members and managers-if any. If you see material churn, there's a real problem somewhere.
Lesson #10: Outbound (Spears) and inbound (Nets) aren't either/or, they are "Yes"
Always be doing both. The question is just the relative ration and when to begin or expand each.
How to create hyper-growth?
The FaceValue Application is all you need to create predictable revenue and achieve hyper-growth. You easily define the right target groups and build a predictable pipeline. The best part is, you can automate the tasks on FaceValue, and you don’t need to spend too much time on it.
Reaching out to all of the leads is the best way to create predictable revenue and FaceValue, The Purchase Generator is the easiest way to do it.
This blog is excerpted from: ‘From Impossible to Inevitable: how hyper-growth companies create predictable revenue’ co-authored by Aaron Ross and Jason Lemkin.
Break your revenue records. The Silicon Valley’s 'Growth Bible' makes very clear how to get to hyper-growth and the work needed to actually get there.
Try FaceValue now and get for FREE the bestseller 'From Impossible to Inevitable: How Hyper-Growth Companies Create Predictable Revenue'. Try It Now.
