Your company must grow - right now

As a fractional Chief Revenue Officer (CRO), I am always testing CEOs about their growth plans. Some are laser focused on increasing revenue and others seem complacent with their current status (only a sales audit will identify what that status is...)

Those who are laser focused on growth are often balancing a lot of balls in the air and are often the "sales manager." CEOs are strategic planners, project managers, negotiators, culture warriors, and they always know their numbers. Asking this person to tackle the role of sales manager is asking too much. They know they can't commit enough time to it. Their heart just won't be in it. They need someone else to tackle this.

Companies who say, "We're doing just fine," often have forgotten how to grow. They had their hot years and now they are just managing the relationships. If you are not growing, you are dying. You just can't see it yet. Even worse, when management begins to realize they are dying (because their existing relationships have grown stale), they go back to the ways they grew many years ago. What worked for you yesterday won't work for you tomorrow!

Innovation is the answer to both of these case studies. Finding ways to automate tasks that are not difficult, injecting AI to cover basic steps, and constantly improving the sales funnel to address the "butterfly" sale will be addressed early in the handoff to a competent Chief Revenue Officer. For those of you who are not familiar with the phrase "butterfly sale," it addresses the prospects who refuse to follow our clean, straight path sales process. Why do they refuse? That is anybody's guess. What we do know is many prospects start down the path, and just like a child - they leave that path to follow the pretty butterfly. The butterfly sale is all about being where they go, not matter what direction that is.

How important is it to get this right?

1. You must stay competitive in a dynamic market

Market competition is fierce, and new competitors constantly enter the market with innovative ideas and disruptive solutions. A company that isn't growing risks losing its' market share to competitors who are expanding their product offerings, improving efficiencies, and reaching new customer segments.

2. Enhance financial stability

Expanding into new markets or adding additional revenue streams can reduce reliance on a single source of income, making the company more resilient to market fluctuations. By expanding into new geographies, demographics, or diversifying product lines, the company reduces risk and ensures a steady cash flow. Additionally, growth allows for companies to benefit from economies of scale. Reducing costs per unit is a benefit growth oriented companies can expect from negotiations that win due to their increased size.

3. Attracting and retaining the best talent

I'm often amazed at how CEOs of smaller companies complain their salespeople are not top notch, but that's all they can afford. Fix the process first. Even average salespeople will improve with a better, more efficient process. Sales coaching will help some of them improve as well, but it is true - the best salespeople are expensive! Making the necessary changes with what you have gives you the opportunity to bid on higher quality salespeople in the future!

4. Improved Brand recognition

Marketing experts are always focused on branding. They warn, rightfully so, that this takes time and persistence. I would argue it also takes strong growth in revenue to attract the attention of those who will show interest in your brand and confidence in your brand.

The importance of growth for a company cannot be overstated. The beautiful thing about hiring a fractional CRO is there is no cost for their benefits, no commissions, and no equity is sacrificed. Given our "fractional" sales model, you can expect a higher degree of innovation and a commitment to a positive outcome.