As a #fractional #cro (Chief Revenue Officer) I Do 4 Things:

As a #fractional #CRO (Chief Revenue Officer) I do 4 things: Lead, Coach, Manage and Motivate Sale Teams. Though discussions vary on topics, #Strategy is one that seems to regularly come into play. Afterall, if you don’t know where you’re going, how do you know what you should be doing to get there? And how can I help you get there?

Strategy is a broad term and quite multi-faceted. However, broadly speaking, strategy is an integrative set of choices that positions you on the playing field of your choice in a way that you can when.

Most #entrepreneurs and small business leaders don’t have a strategy. They have vision, passion, even a bit of a plan. But they are not set to win because they have not really thought through all their choices. Good strategy puts the right offer, in front of the right customer, at the right time. Boom! Magic!!

In discussions with #Founders and #leaders of small business, there are a few themes I see that could go a long way to making your venture more profitable.

1. Use your name and a unique domain as your email. Info@gmail or findyourguy@outlook is not easily searchable. I often remember a vendor’s name but cannot find them in my address book. So, I move on. Make it easy as possible for your customers to contact you.
2. Understand where your profits hide. Often a company provides a service with a product. If you are a software or IT service provider, how much do implementation services flow to your bottom line. If you offer retail products, is there a frequent buyer option that allows customers to receive discounts or an extra service not available to the one-time buyer. Airlines have this wired. I pay a premium to build my miles to use later. I enjoyed my upgrade this holiday.
3. Know your Numbers. How many ‘touches’ or #prospects must you engage to make a sale. #Sales is by and large a numbers game. Not everyone who is curious about your offer will by. #Marketing and #leadgeneration are different functions, but they can often achieve a similar outcome…more prospects to sell to. A better understanding of your customers’ wants and how they prefer to engage with your business can go a long way to better #engagement. If you need 800 contacts to make 1.5 sells, then that is good to know to so you can spend your marketing dollars effectively, and price appropriately.

It’s difficult for a business owner to do it all. #fractionalexecutives offer specialty skills and knowledge for a #leader who wants to grow but has significant constraints. However, small adjustments can bump your business’ margin 10-15%.

As you plan for 2023, consider how you can make it easier for your customers to do business with you.

#ceo #smallbusiness #saleseffectiveness