September 2012
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Month September 2012

The Tenets of George F. Will

I recently attended a speech given by George F. Will, and here are some of his more interesting thoughts/ideas:

Rules [Laws] for a Thinker

1. There is no education in the second kick of a mule! [Pay attention to History]
2. Everyone [everybody] is entitled to their own opinion, but not their own facts…! [Find and use the Facts]
3. When you are in a hole, quit digging! When you find yourself in a hole, quit digging! [The Law of Holes]
4. If your only tool is a hammer, everything looks like a nail!
5. Be aware [wary] of unintended consequences; they may be larger than the intended consequences! [Law of unintended consequences]
6. Virtues are virtues only to a point; then they become a nuisance!
7. Turn off the TV! TV is the survival of the briefest!!! Think about 10 second news bites…

On making decisions…

In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.

—Theodore Roosevelt

Revenue growth—develop a punch-list

For revenue-growth ideas, look to the market:

  • current customers
  • former customers
  • lost prospects
  • channel partners
  • competitors

Once the analysis is completed, send the “hunters” out to get the revenue/business, not the “farmers”

(repco)

A diary with a unique approach to showing the time of day

Chronodex displays each day as a circle with sections for time, like using a pie chart v. arranging days as a plain table with rows for time slots. The sections correspond with the positions on a clock and the day runs from 9am to 9pm.

what-is-chronodex-and-how-to-use-chronodex.jpg

A very clever, unique and creative approach…

Revenue growth…

The main areas of improvement to focus on:

  • customer segmentation [employ matching]
  • salesforce effectiveness [view sales as an “opportunity cost“]
  • pricing
  • go-to-market approach [direct v. channel partners]
  • cross-selling [it is usually the lowest-cost alternative]
  • customer retention [insure said via policies, activities, etc.]

(repco)

And, for margin improvement:

How to drive significant top-line revenue growth from the current customer base. Ask and answer these important questions:

  • Is there an effective pricing strategy in place today?
  • Have we properly segmented our customer base to differentiate pricing based on buying behaviors [STP, or Segment, Target & Position]?
  • Are customers that destroy margin effectively managed?
  • Is the sales team allocating resources to the highest value customers?
  • Does our sales team have the right process and structure in place to capture pricing opportunities?
  • Are pricing controls in place to monitor pricing and provide the appropriate oversight?
  • Are the right metrics tracked aggressively to objectively determine performance in the market against competitors and resulting margins?