Let’s just say it: growing a company is complicated. And confusing. And more than a little frustrating.
That’s because achieving organizational growth isn’t a magic trick; it’s science. And, depending on your company’s unique set of components and variables, there’s more than one formula for success.
So we’ve distilled the process of identifying your company’s best growth formula down to its most basic elements, giving you step-by-step guidance on how to create sustainable and scalable revenue growth.
It’s no secret that making more money is the key to growing your business. So just make more of it and we can be done here, right? Not so fast.
Do you know how much more money you need to make? Or where it needs to come from? And were your answers to those questions a guess?
We thought so. A lot of the IT services companies and digital agencies we work with are in the same boat.
- Where your revenue is coming from
- What leads and opportunities you need by channel
- How many deals you need to close
- When you need to close them
- Whether you’re off track and how to course correct
Growing a company is hard. But it’s even harder when you’re playing a guessing game.
Setting an annual revenue target is pretty straightforward. But hitting that number? That’s where the real work begins.
Growing your company only gets more complicated when you don’t know who you’re targeting, how you’re reaching them or have the processes, content and technology in place to communicate with them.
- Sales channels
- Lead generation funnel
- Revenue pipeline
Once you know where you have gaps in your approach, you can start closing them.
Objectives, defined. Gaps, closed. Now comes the action.
But where do you start? Growth comes from building on previous successes and applying fresh insights and ideas. The right formula targets the right audience with the right message through the right channels.
If you have the right channels but not the right engagement, evolve the message. And if the message still isn’t working, you can conclude that you don’t have the right audience or that your offering isn’t compelling enough.
Rigorous analysis along the way is critical so that test and learn doesn’t become guess and guess again.
We’ve said it before and we’ll say it again: growing a company is hard. The key is to have a clear understanding of what you want to achieve, what you need to achieve it and how to continue to refine the solution until you’ve accomplished your objective.