Nov 21, 2019
“How do you maximize your
revenue?”
It’s the question that everyone wishes there was an easy answer
too.
No, I don’t mean that as a thought-provoking chin-stroking question
to ponder from the armchair.
I mean how do you actually do it? How do big
businesses know the right steps – backed with data – that are going
to blast them to their revenue goals and beyond?
Answer:
By focusing on RevOps.
RevOps, or ‘Revenue Optimization’, is a new field of expertise
where consultants reference multiple data-points from big
businesses to map out where your company should
focus their time and attention.
It’s about scaling your earnings based on a strategy custom-made
for your business.
And in this week’s episode of Escape
Velocity, I interview Jason Reichl, the co-founder of Go
Nimbly, a revops consultancy firm.
Hearing how a revops consultant thinks is going to blow your mind
wide open. Check it out.
This interview is chunky. It’s an hour-long, and we get stuck into
challenging topics including:
- Vital metrics that you need to measure
- Using industry benchmarks to rate your growth
- Predicting the mind of a customer reaching out (<< Nails
it!)
- How unifying your team can create up to 36% boost in revenue
- SaaS tool stacks for $10M ARR companies
- Why your tool stack could be limiting your revenue
- Preparing for Exit or your IPO
Go Nimbly have worked with Zendesk, Twilio, Focus, and a range of
other SaaS customers, supporting about $3B in revenue between all
of them.
When you see the books of such companies and work with them to
optimize revenue, you get some incredible insights into
what every business should be doing.
That’s Jason’s forte.
If you knew the levers to pull, the changes to make in your
business that can ratchet up your company’s income, then you’d have
the golden ticket to SaaS-Land.
Some of the terms exchanged in this episode might not be common
from a small business perspective, so here’s a quick glossary of
3:
- MQL: Marketing Qualified Lead. This is a potential customer who
is curious about your product and will be receptive to your
marketing efforts.
- SQL: Sales Qualified Lead. This is when a potential customer has
shown signs of being purchase ready, and your sales team should be
reaching out.
- BDR: Business Development Representative. The person in a
business that looks for opportunities and builds relationships with
potential customers (That could be you!)
Get yourself a coffee, and tune in to explore some high-level business
theory that works for big brands and will no doubt give
you some vital insights for your company too.
--
Dan Martell has advised more startups
than his hometown has people and teaches startup founders like you
how to scale. He previously created, raised venture
funding for and successfully exited two tech startups: Flowtown and
Clarity.fm. You should follow him on twitter @danmartell for tweets
that are actually awesome.
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