It’s the question that everyone wishes there was an easy answer too.
No, I don’t mean that as a thought-provoking chin-stroking question to ponder from the armchair.
I mean how do you actually do it? How do big businesses know the right steps – backed with data – that are going to blast them to their revenue goals and beyond?
By focusing on RevOps.
RevOps, or ‘Revenue Optimization’, is a new field of expertise where consultants reference multiple data-points from big businesses to map out where your company should focus their time and attention.
It’s about scaling your earnings based on a strategy custom-made for your business.
And in this week’s episode of Escape Velocity, I interview Jason Reichl, the co-founder of Go Nimbly, a revops consultancy firm.
Hearing how a revops consultant thinks is going to blow your mind wide open. Check it out:
This interview is chunky. It’s an hour-long, and we get stuck into challenging topics including:
- Vital metrics that you need to measure
- Using industry benchmarks to rate your growth
- Predicting the mind of a customer reaching out (<< Nails it!)
- How unifying your team can create up to 36% boost in revenue
- SaaS tool stacks for $10M ARR companies
- Why your tool stack could be limiting your revenue
- Preparing for Exit or your IPO
Go Nimbly have worked with Zendesk, Twilio, Focus, and a range of other SaaS customers, supporting about $3B in revenue between all of them.
When you see the books of such companies and work with them to optimize revenue, you get some incredible insights into what every business should be doing.
That’s Jason’s forte.
If you knew the levers to pull, the changes to make in your business that can ratchet up your company’s income, then you’d have the golden ticket to SaaS-Land.
Some of the terms exchanged in this episode might not be common from a small business perspective, so here’s a quick glossary of 3:
- MQL: Marketing Qualified Lead. This is a potential customer who is curious about your product and will be receptive to your marketing efforts.
- SQL: Sales Qualified Lead. This is when a potential customer has shown signs of being purchase ready, and your sales team should be reaching out.
- BDR: Business Development Representative. The person in a business that looks for opportunities and builds relationships with potential customers (That could be you!)
Get yourself a coffee, and tune in to explore some high-level business theory that works for big brands and will no doubt give you some vital insights for your company too.