After the startup curve, the focus has to be about Revenue. And in a simple way, there's a formula, and activity outside of this formula is a lot of the 'fake work' Sam mentions.
Revenue = Value x Sales Activity x Conversion Rate x Retention
The specific approach will differ depending on your size, your vision, funding or bootstrapped etc, but the fundamentals are the same.
Value: Covers getting your business model right. Volume x Margin, Product-Market fit kind of thing. It's essentially a hypothesis you're taking into Sales activity and refining.
Sales Activity: Includes lead generation, but I don't like to put 'Marketing' as a separate heading because blogging and chatting to bloggers is the easiest way to feel busy and achieve nothing. Are you getting in front of clients?
Conversion Rate: And how many of your clients are actually buying? Track this! Segment it when you can! [channels the power of Danielle Morrill] "Know your numbers!"
Retention: Obviously depends on the business model, but ongoing or repeat clients are lovely. In a recurring revenue business, churning a client for every new one you bring on board wastes all the previous steps.
Revenue = Value x Sales Activity x Conversion Rate x Retention
The specific approach will differ depending on your size, your vision, funding or bootstrapped etc, but the fundamentals are the same.
Value: Covers getting your business model right. Volume x Margin, Product-Market fit kind of thing. It's essentially a hypothesis you're taking into Sales activity and refining.
Sales Activity: Includes lead generation, but I don't like to put 'Marketing' as a separate heading because blogging and chatting to bloggers is the easiest way to feel busy and achieve nothing. Are you getting in front of clients?
Conversion Rate: And how many of your clients are actually buying? Track this! Segment it when you can! [channels the power of Danielle Morrill] "Know your numbers!"
Retention: Obviously depends on the business model, but ongoing or repeat clients are lovely. In a recurring revenue business, churning a client for every new one you bring on board wastes all the previous steps.