CloserQ readers, we have a management book club at Streamline Health, and we recently read, "From Impossible To Inevitable: How Hyper-Growth Companies Create Predictable Revenue" by Aaron Ross and Jason Lemkin. Our CFO recommended the book, and what a fantastic
recommendation. 'Impossible to Inevitable'
offers actionable content for both strategies and tactics to grow revenues.The book goes through the 7 Ingredients of Hypergrowth and the associated Pain with each step:
1.
You're not ready to grow . . . until you Nail A
Niche:
a. To
really grow, you can't dilute your strategies; you need define 'where you win',
and you need to say 'No'. Plus, keep
your market message simple, aka a 4th grader can understand.
2.
Overnight success is a fairy tale. You're not
going to be magically discovered, so you need sustainable systems that Create
Predictable Pipeline:
a. This
was one of my favorite parts, that you need to have a multi-prong pipeline
growth strategies: direct sales executives, inside sales, specialists, trade
shows, SEO / SEM, third party prospectors, etc.
Personally, I have expanded my top of funnel activities.
3.
Speeding up growth creates more problems than it
solves. Things will actually get worse until you Make Sales Scalable:
a. Keep
selling as you continue to grow, and keeping growing your sales team and
processes as you grow.
4.
It's hard to build a big business out of small
deals . . . so figure out how to Double Your Deal-size:
a. As
you follow the steps above, you need to find larger deals. Often your sales energy is similar for $10k
as a $100k deals, and simple math tell you that you have to sell 10x as much at
$10k.
5.
It'll take years longer than you want . . .
don't quit too soon or let a Year Of Hell discourage you. Be prepared to Do The
Time:
a. This
is true for both companies and sales executives. If your sales cycle is a year, you could
potentially sell $0 in year one, so don't quit, keep grinding. Now imagine an Entrepreneur, starting for
scratch, could take 7 years to hit hyper-growth, including a year(s) of Hell.
6.
Your employees are renting, not owning their
jobs. Embrace Employee Ownership to develop a culture of taking initiative
beyond a job description:
a. As
a sales manager, this was helpful on what really motivates employees. I also enjoyed the stock options math, that
0.1% of $100M is $100k, which is a nice bonus but not life changing.
7.
If you're an employee, you're letting
frustrations stop, not motivate, you. Stop waiting for someone else to fix it,
and turn your frustrations to your advantage to Define Your Destiny:
a. Take
advantage of your opportunities, by Learning, Earning, or Moving On.
Good Reading! Below is the link on Amazon:
https://www.amazon.com/Impossible-Inevitable-Hyper-Growth-Companies-Predictable/dp/1119166713?ie=UTF8&*Version*=1&*entries*=0
Reader Feedback, please click the ‘comments’ below to give your feedback on 'Impossible to Inevitable'. Shaun Priest aka CloserQ. Have fantastic day.
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