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6 Ways To Increase Revenue Today Pt 1- North Texas EOS Traction

Time and time again I have potential clients and colleagues ask me the magic question of running their own business: How do I increase revenue. Obviously, that’s a pretty big ask, and the answer is going to be as diversified as the business. However, I like to recommend to those people a small list of tools that I know for a fact work in nearly any industry and in any market.

These tools aren’t magic bullets. They will take hard work to use. But, if you put the work in, they will almost certainly drive sustainable revenue growth for your company.

And, that isn’t some thing I just made up. I’ve personally seen these tools increase revenue in well over 50 different businesses. 

Accountability Chart™

I want to hit the ground running with the first tool. The Accountability Chart is a tool introduced by Gino Wickman in his book Traction and it will change the way you run your business. I don’t mean that as hyperbole either. It will literally change how you make decisions and assign tasks. See what I mean about hitting the ground running?

You can read the complete guide to using this tool here

The short version is that you are going to “fire” every single person on your leadership team and restructure your organization. Once that’s done, you will assign people to the new roles in your business. Usually that means reassigning people that were already on the leadership team. Often, though, it means realizing you don’t really need all the people on your leadership team.

And you do all of this in 4 hours.

The Accountability Chart is all about structuring your business around responsibilities rather than reporting. You list all the top level things that need to be done in your business. Then, you put each of those tasks in a role like CFO or CMO or whatever. Finally, you choose ask who is ready to perform that role. 

Here’s the kicker. There may not be someone on your team that can or wants to. That’s why this tool is so powerful. Within a few hours you’ve either a) restructured the accountability of your top level execs in a way that makes your business more efficient or b) definitively decided you need to hire a top-level person.

People Analyzer

You know what slows down revenue growth in a company with a solid product or service? It isn’t marketing or competition or any other small problem like that. Those are just the symptoms, not the cause.

If you really want to increase revenue, you need to have the right people on your team. A great way you to be sure you have the right people is to use the People Analyzer™. 

The problem with deciding if someone is the right person is that it feels like an inherently subjective task. What is “right people” anyway? The People Analyzer solves this by breaking down “right people” into simple, objective measurements.

You set the baseline of what it takes to “pass” the test. Then you go about running each person on the team through the analysis. The People Analyzer looks at things like adherence to Core Values, motivation to do the job, and technical capacity to do the work.

Scorecard

This tool consistently helps my clients increase revenue in both the short and long term. It’s one of the most powerful weapons in your arsenal, and it’s as simple as it gets.

The Scorecard™ is a way of making sure you do the right things week in and week out. It simultaneously keeps you on track for revenue goals and predicts problems that may pop up way down the road.

Using it is simple. I’ve actually written about it several times before, so you can read one of my guides. But, for now, another short version.

 You and your team sit down to decide exactly what numbers you can measure each week that are critical to your business. I like to ask my clients to imagine they were stranded on a desert island and they magically got a piece of paper that updated them on their business. That paper just has 5-10 numbers. What are they?

The numbers are usually inputs that are tied to future outputs. That’s critical. You don’t measure profit or loss, because that’s the past. Already happened. But, you can measure sales calls, closed clients, units produced, or any other number of things that let you know you’re moving in the right direction.

Once you have your numbers, you make sure that for each number someone on your team is accountable. Each week they are responsible for making sure that number is met. Your team needs 50 sales calls per week to really keep on track? Well, that’s a task for the CMO. 

Finally, each week you report the numbers. That way, if one is off it sends up a big red flag. Everyone knows that the CMO is responsible for those calls. So when they didn’t get made, the team knows whom to ask why.