I am not growing fast enough!

Vic Hunter
Vic Hunter
Vic is founder and president of Hunter Business Group LLC. He is nationally know
User is currently offline
Jan 26 Revenue Growth 0 Comment
There is a big public bully in my market. Amazon is beginning to offer some of my high volume products. My sales organization is mature- let's say 70% are over 55. My strategic partners don't play well on the playground let alone my sand box. Our association is becoming an employment referral center. Loyalty means low price.

I need a PILL!
Give me something I can do or buy that will let me grow. Training- that would help. Maybe taking time to finally get our CRM to work. NEW Website- yea that would help. Buy someone or finally get that product out of R&D and into the market. Consultant- no that costs too much.  Maybe we can just do MORE and do it FASTER.

If you think about growing business by focusing on your customers, there are four areas to act. Retain (Current Customers), Acquire (New Customers), Develop Current Customers (Product and category penetration), and Develop New Products. Organic revenue growth is a Strategy on how to investment human and financial capital to:

#1. Retain your customers. If you don't keep your customers you are running on a treadmill.

#2. Acquire new customers that look like your best customers.

#3. Invest in your current customers to buy your compete product line. Focus on your customer's business applications that service their customers and fill in with your products and services.

#4. Offer attractive and valuable new products to your customers. Start with adjacent applications. Focus on product absorption rates in each customer segment.

Sounds simple.

1. Start with three years of history in each of these four areas (above) to see what currently drives your revenue.
2. Extrapolate the numbers into 2015 and see if your projected revenue matches your budget.
3. Change one or more of the forecast numbers to reach your revenue goal.
4. How big of a change did you make? This is the GAP that you will need to build a plan around.
5. Build the plan (a 2015 Growth Playbook) to close the gap and measure monthly.

Get started by looking at your three year history. A candid and objective look at "what will happen if I do what I have done in the past?". You will start by knowing why you're not growing fast enough.

About the author

Vic Hunter

Vic is founder and president of Hunter Business Group LLC. He is nationally known for his expertise in business-to-business direct marketing and service to the nation's leading companies.


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Guest Monday, 24 February 2020