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1-Page Summary of Predictable Revenue

Overview

How can a business plan its future if it doesn’t know how much money it will have? It might guess on what the company has made in the past and get creative. But then, there’s no way to know how much profit they’ll make in the future. How can you plan anything when you have great results one month and no profit another?

That’s why you need to have a steady stream of revenue. A steady stream of revenue means having more sales that can be reasonably expected and counted on. With predictable revenues, you’ll be able to plan for the future and rely on your company’s security in comparison with other companies who are still trying to find theirs.

As an added bonus, when you present your results to investors in the future, you’ll have a better chance of convincing them that your product will be profitable. The key points are: don’t obsess about closing deals; turn free trials into sales; understand the differences between various sales leads.

Big Idea #1: You can’t increase your revenue with an outdated approach to sales.

In sales, it’s commonly believed that increasing revenue is simply a matter of hiring more salespeople. However, this approach doesn’t guarantee more revenue.

What you need is high quality leads, not just a large quantity of them. You can convert those leads into customers and get predictable revenue that way.

The sales process has changed. Nowadays, it’s more about attraction than promotion. The old approach to sales was like someone poking you and saying “going to buy yet?” until you gave in just to get that annoying person off your back. Older techniques relied on a lot of control and manipulation, while newer ones are less forceful and more focused on the customer’s needs after purchase.

With the advent of the internet, customers are able to look up your company online and learn about its quality. Any unscrupulous behavior can come back to bite you in the form of reviews that will be posted online for everyone to see.

In today’s times, it is not okay for salespeople to be pushy. They need to respect the customer and offer something that will attract them because of its real value. If your company needs more revenue, you should look at how you sell things first. Instead of just hiring new people, why not focus on what you have now? One way to do this is to split up the tasks between departments so that there are good lead generation teams as well as a team dedicated to taking care of existing customers.

So, how can we implement a good lead generation system? The key point follows:

Big Idea #2: The first step to effective sales: Understand the three different leads.

So you’re looking to get leads for your business. First, you need to understand what a lead is and how it works.

Leads are people who have shown interest in what you’re selling, either through a seminar or by downloading something. Once they’ve given you their contact information, they’re leads.

Leads are the people who will become customers. They can be found through hard work, such as building your brand image and winning new followers on social media. If you nurture these leads, they’ll eventually become customers.

There are two types of nets: those that are won through classic marketing programs and those that come from word-of-mouth. Word-of mouth happens when someone tells a friend about you, which is free advertising for your business. However, these networks don’t always convert into customers as often as the ones that are won by going through traditional methods like television advertisements or email marketing campaigns.