As I meet with growth-minded Founders, Owners, and CEOs, one of the frequent topics we delve into is understanding the difference between a VP of Sales and a Chief Revenue Officer (CRO).
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Starting, growing, and succeeding with a startup is complex and has a multitude of aspects. My simple list of just four success factors looks something like this: Product: Have a product or service with market fit. You: Work hard and smart. Team: Be a leader that people want to follow and hire people that are smarter than you. Sales!
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Many companies, in an effort to minimize costs, may be tempted to hire less experienced sales leaders or promote such individuals from within the organization. However, what they easily fail to realize is that the cost of hiring an amateur can far exceed the expense of investing in a professional sales leader.
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In the world of sales, the pursuit of perfection is an endless journey. An almost infinite number of experts have delved into the subject, each offering their unique insights and strategies. But why is this topic so crucial? The answer is simple: "Perfecting your sales process and perfecting the management and repeatability of that process leads to more deals and more revenue for your business."
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In the fiercely competitive business world, business leaders face the everyday challenge of increasing revenue. One crucial capability to do that involves consistently converting leads into paying customers, which can be the make-or-break factor for success.
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Sales and revenue operations professionals play a critical role in aligning sales, marketing, customer success, and finance departments. They leverage advanced technology and data analysis tools to optimize the entire revenue generation process.
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Every company on the planet is the same in their two most fundamental processes: making stuff and selling stuff. All other processes should be in support of these two facets of the raison d'être of a company. The corner bakery and the world's largest industrial conglomerates are the same at this level.
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Sales productivity is typically measured in sales revenue per salesperson, individually and as an average over a team. This is a straightforward approach that can be further enhanced by including factors like e.g. hours worked, profitability, percent of target, or lead conversation.
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There is a lot out there: advice from founders and investors, stories of unicorns, tools and services that claim to guarantee success, ultimate tips and steps, … Starting, growing, and succeeding with a startup is complex and has a multitude of aspects.
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Merging sales organizations and ensuring that they deliver the revenue synergies is hard work. On paper, especially when grasping for straws to make the deal work, it always looks logical and makes sense. It almost always ignores the human aspect of sales: the team, the clients, and their interactions.
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