Revenue Growth Assessment
The Revenue Growth Methodology
1. Assess Strategy
Assessing strategy is extremely important as it helps you to fully understand if you are allocating your people, money, and time correctly against the revenue growth opportunities available to you. Strategy assessment will help you determine your next steps. It helps in planning the future and gives you a clearer view on what to do, when to do it, and why these strategic moves will ultimately lead to an accelerated revenue growth.
You should first start by gathering information. Perform a thorough and detailed examination of your markets, and your corporate, product, marketing, sales, and human resources strategy. Document the data gathered.
Next is gathering information on the competition. Study and evaluate all the major competitors. Determine if you are in strategic alignment by bench marking you against your peers and placing you on the level 1-5 revenue growth maturity model.
KPI analysis is an important phase. Evaluate and identify a set of key performance indicators to benchmark your company and quantify the potential gain of change.
2. Assess Execution
Execution is the next step. Assessing execution helps you check if you are doings things correctly and executing tasks and plans the right way. This will also help you determine how to grow revenue.
Start with your team. Perform an objective assessment of your team against an A Player Profile for each critical role on your organizational chart to see if they are getting the job done.
Analyze the tactics deployed in pursuit of the revenue goal. Always confirm if you are using the correct tools for your revenue growth strategy.
Inspect the operational rhythm of your revenue growth engine and ensure whether the correct sequence is being followed. Everything should adhere to the revenue growth objectives.
3. Implementation Plan
Develop an implementation plan with valid information pertaining to time line, deliverables, tasks, roles and costs that when put into use will result in accelerated revenue growth.
Create an achievable timeline by breaking down objectives and organizing them into weekly, monthly, and quarterly basis.
Identify and create a list of key deliverables that are crucial for the implementation of revenue growth strategy.
Identify the various tasks that need to be performed to produce the deliverables and to meet the deadlines.
Assign roles based on a project level organizational chart that illustrates who is responsible and accountable for each item.
Conduct a feasibility analysis detailing the extend of investment needed to properly fund the revenue growth plan