Revenue Growth – every conversation I have with tech companies these days revolves around this. And while those discussions often start in familiar places, they usually boil down to three core areas. You’ve probably heard a lot about them already, but let’s dive deeper into the ones that are frequently overlooked.
We’re talking about:
- The Revenue Engine: This is your foundational machinery – the people, processes, and technology working together to generate revenue.
- Delivered Value Monetization: How you turn the value you provide into actual dollars. Think cross-selling, upselling, referrals—really maximizing what each customer brings in.
- Partnerships & Alliances: Leveraging other companies’ reach and resources to expand your market.
There’s a ton of great content out there on building that Revenue Engine – especially when it comes to the tech side of things. But I consistently find that businesses are missing opportunities in those other two areas, leaving money on the table. Let’s tackle them.
First Things First: You Can’t Build on Shaky Ground
Before you even think about monetizing value or forging partnerships, you need a solid Revenue Engine. Seriously. It’s the bedrock of everything else. Without it, you won’t have any real understanding of what’s working and what isn’t – from how you segment your market to which channels are most effective, right down to crafting compelling messaging and equipping your team.
This is where a lot of quick wins can be found. Are you responding to inquiries fast enough? Is your sales pitch resonating with the right audience through the right channels? Are you analyzing why deals fall through and learning from those losses? Tweaking these seemingly small things can have a surprisingly big impact. It’s about constant iteration and optimization, driven by data and insight.
Turning Value into Dollars: Beyond Just Keeping Customers Happy
Many companies are laser-focused on customer retention as the key to achieving Product-Market Fit (PMF). That’s fantastic! But simply having a culture of retention isn’t enough. You need to bake that focus into your processes and systems so that every new client adds momentum to your revenue acquisition flywheel.
Too often, I see this left in the hands of individual salespeople who might be farming referrals and account opportunities based on what they learned at their previous jobs. While those individuals are valuable, relying solely on them creates inconsistency and limits scalability. This is a prime opportunity for Sales, Marketing, Customer Success, and Product teams to align – to collaborate on strategies that benefit everyone and build a truly collaborative company culture. Imagine the power of a coordinated effort!
Partnerships: A Minefield of Misunderstandings (and Missed Opportunities)
Let’s be blunt: partnerships and alliances are often handled terribly. They’re frequently viewed as a shortcut – a way to get “free” resources and sales without putting in the work. And I’ve seen early-stage companies try to jump into complex partnership agreements before they even have a dedicated salesperson on staff!
That’s a recipe for disaster. Without understanding how to sell outside of the founder’s personal network, you risk burning partners whose sales teams might attempt to sell your product without proper training and support – then move on to something more profitable. It’s not about finding free riders; it’s about building mutually beneficial relationships based on shared goals and a clear understanding of how each party contributes.
What’s Next? Building a Framework for Success
I truly believe that with the right approach, partnerships can be an incredible engine for growth. And maximizing your delivered value is essential to long-term sustainability. Over the coming weeks, I’ll be sharing some frameworks and methodologies – practical tools you can use to structure your approach and significantly increase your chances of success in these often-overlooked areas. Stay tuned!