The first seven articles in this chapter discuss the only thing that matters: Revenue. Not only is it the only thing that matters, but also it is the hardest thing to predict. There are almost a countless number of variables that can and will impact it. Some are in the entrepreneur’s control, most are not. The key is to make realistic assumptions and understand the risks and sensitivities of those assumptions to the overall business. While revenue activities can quickly become all-consuming, there are a number of other issues that will come up and need to be addressed. Some of them are included in this chapter and should be considered AFTER a plan for predictable revenue has been implemented.
Chapter Sections and Summaries
- Revenue
The pursuit of revenue never stops for every company. Developing key strategies for its pursuit is dependent on the company’s position and timing.
- Performance Pressure
There is a marked transition from “talking” to “doing”. Think about a sports team that has a well thought out game plan. Often, the plans must be quickly abandoned when the actual game begins. The focus quickly changes from planning to actual performance.
- Diversions
With the pressure to perform, it is easy to embrace “quick and easy” solutions to unexpected events. Unfortunately, “quick and easy” seldom is!
Chapter Articles and Summaries
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Introduction to Beginning Execution |
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Revenue is the life blood of every organization; focus on it accordingly. |
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Revenue: The Wonder Drug |
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A continuous, growing supply of profitable revenue is all that matters. |
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Three Kinds of Revenue |
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Revenue develops in stages; understand where you are and what you want. |
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Referenceable Revenue: What Others Do |
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It is not what you say that counts; it is what paying customers say to others. |
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Scalable Revenue: Repeatable by Others |
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After initial orders are received, scaling may require significant changes. |
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Profitable Revenue: More Than Margin |
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Positive gross margin is only the first element in determining profitable sales. |
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Distribution is the Only Thing That Matters |
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Identifying prospects and turning them into customers on a large scale can be quite difficult. |
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Find a Popcorn Business |
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Build a recurring revenue base through anonymous sales that occur without direct engagements. |
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When Things Go Wrong |
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Do not try to control situations; instead choose how to respond and not react. |
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The Could Versus Should Trap |
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Creeping feature requests can easily add undue complexity and lengthen the time to market. |
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Time: Is it a Friend or Foe |
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Break up serial events and address them in parallel to minimize overall cycle time. |
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Who is Not in the Room |
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With today’s fast pace, it is easy to inadvertently leave people out of critical discussions. |
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Tiny Goals for Maximum Results |
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Define and focus on very short, easily attainable goals, following the adage of one step at a time. |
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Ask Someone Who Doesn't Know |
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As they say “you can’t see the forest for the trees”; ask an outsider for help. |
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Quick and Easy Seldom Is |
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Don’t replace thoughtfulness with speed; rework is always time consuming and expensive. |
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Selective Scalability |
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As you grow, focus on investing in your core competence and outsource everything else. |
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Focus And Time: The Almost Unavoidable Landmines |
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It always seems to take longer to receive orders; especially if you are not focused. |
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Patents: The Reality |
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Patents take time and money; it might be better to focus on other things. |
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Legal Counsel: Necessary or Evil? |
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Attorneys sell their time, buy it wisely and only when necessary. |
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Prepare for an Exit When You Start |
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Start a document archiving process on day one to avoid significant lost time searches later. |
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