Stay Fundamentally Sound + Work Hard + Constantly Improve = Revenue Goes Up

Sales Market Development

Opening a new market? Let us help.

Every month we encounter a firm or a division of a firm that invested heavily in inappropriate revenue generating strategies when trying to open a new market for their products.

Often, this leads to tremendous financial loss to the firm and the owners.

Success in generating revenue in new markets takes effective planning and, more critically, effective execution. There needs to be a sense of urgency combined with a sense of flexibility and a dash of daring.

We can help firms start off on the right path.

Great results begin with a good start

Without trying to respond to all the issues that we commonly see, here are five common things that people often do not think about when entering a new market.

  1. The cost of marketing and sales is often far greater than the cost to develop a product. Developing new markets can also require more time and effort than the development of a new product. Too many firms fail to adequately budget for the level of effort needed.
  2. Flexibility and Daring are needed to be successful. Increasing Revenue, once when working for a client found a situation which should have lead to a temporary monopoly for the client. This shocked the client. It was so outside the client’s comfort zone that the client failed to exploit the situation. Had the client followed Increasing Revenue’s advice, the anticipated revenue would have been 2.5 times the firm’s annual revenue.
  3. A sense of urgency must always be present. Failure to act will cost revenue.
  4. A joy in the unknown must be present. No matter how thoroughly a plan is made, the reality will be different in 3 months, 6 months and 12 months. There must be a sense of joy in the process of adjusting to new information discovered when entering a new market.
  5. Developing an outstanding business plan and not executing it guarantees failure. Often, people are so focused on the planning that they forget the execution.
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THINK ABOUT IT

What is the value of improved application of sales fundamentals?

Many years ago we coached a sales person in advanced telephone skills. A few weeks after this coaching, he sought us out and told us that he made one call on a Thursday. That Friday the prospect purchased more than his annual quota.

Nothing fancy, no glitz, no fads, just proper application of the fundamentals of sales.

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Increasing Revenue, Inc.
1616 Anderson Rd
McLean, VA, 22102
571-213-6661
robert@increasingrevenue.com http://www.increasingrevenue.com