There is nothing more important to a CEO than growing revenue and keeping a great team motivated.
And a great way to motivate people is to enroll them in being a part of a winning team that grows revenue successfully! And companies often get stuck getting to the next level.
For companies who are selling groundbreaking products or services and targeting growing markets, revenue plateaus are to be expected.
They commonly stem from two sources:
- A company’s inability to drive teams to goals and internalize innovation;
- How a company determines and executes it’s sales strategy.
The 18 Biggest Mistakes We’ve Identified When It Comes to Encountering Revenue Plateaus…
- Not expecting that every company has predictable revenue plateaus at $1M, $5M, $10M, $25, $50M etc.
- The wrong Leadership in place that is not right to move the company to the next level.
- Underestimating that each plateau involves a major shift for the business. It requires different skills, resources and systems to break through the plateau and reach the next level.
- Small thinking and small goals. Breaking through plateaus takes a series of big goals. Goals that transform your business, your approach and your brand.
- Not developing the capabilities and infrastructure of the next level in advance of getting there.
- Assuming that the team, systems and approach that got you to $1 million are the same to get you to $10 or $25 million. They’re not.
- Not setting smaller goals that lead to mastering bigger gains. Set monthly, quarterly and year end goals.
- Failing to determine and execute sales strategy.
- Not preparing expectations properly.
- Breaking through the revenue plateaus requires investing in the infrastructure of the next level.
- Falling down in the ability to adopt and implement innovation in every department.
- Highly successful start-ups can out-grow the founder’s time to function as sales leader and chief executive.
- Companies founded on a great product or service have now saturated their initial target market.
- Organizations that initially grow because of the Rolodex of the leadership team can run out of viable contacts to sell to.
- Self-perception of the CEO/Leader and his or her perceived ability to drive the company to the next level.
- After making a significant revenue breakthrough where you go from nothing to finally having revenue and a paycheck, you take your foot off the gas
- Knowing how to empower those around you in ways that drive them to take action to grow the company.
- “Holding all the knowledge” and not really trusting that someone else can actually contribute to the success of your company.
There are many aspects to consider in why you reach plateaus. We believe that they should not only be expected, they should be considered a great thing because they open the door to powerful growth and positive change.
We love a challenge and the ability to create exceptional solutions where they weren’t seen before. Whether it’s redefining leadership, implementing new sales strategy, innovating a fresh new approach, setting an inspiring new set of goals or creating new strategic alliances or partnerships…
If you’re challenged with breaking through a revenue plateau and seeking the right level of consulting to help you create next level growth…talk with us.
In one call we can collaborate and tell you exactly what your greatest opportunities are for breaking through and driving next level revenues. On that call we create an actionable plan that gives you clarity and insight for the next right steps, regardless of whether you choose to have us implement that plan with you, or not.