With the global economy showing signs of recovery, most of the organizations are looking at revenue growth. Most of the large organizations (like SAP, Uniliver,etc) are looking at achieving double digit revenue growth for 2010.
The questions to ask are :-
- Should these large organizations be happy with a double digit revenue growth (read 10-12%) ?
- Is this the best that they can do ? If yes, why is that so ? Is their size restricting them from doubling their sales every 2-3 years or are there other reasons ?
- Is is possible for these large organizations to achieve 25-30% year-on-year growth in their revenues ? How ?
- First things first. The leaders should be absolutely believe that a 25% growth in revenue is possible. Without this absolute belief, everything else will fail.
- They need to continue to re-define their markets. Intel did so by reaching out to the end-consumers directly. Apple did so by entering the mobile handset space.
- Re-define how they sell. The world around us is changing and that at a very rapid pace. The way we sell should also change to keep up with the times. The organizations would really do well to
- Add a new sales channel
- Identify ways to help customers reach you
- Un-complicate their sales organization
- Improve selling process. My experience is that improved efficiencies in the sales processes alone can add another 1-2% in revenue growth. Continuous process improvements in the sales processes is absolutely essential.
- Provide exceptional customer service. No company can keep growing without keeping their customers happy. If there is only one thing that an organization can do out of this list, it should be to provide exceptional customer service levels. This is the MOST IMPORTANT STEP in the sales process.