Learn How The RGM Approach Works Your Way
Spark Your (RGM) Revenue Growth Management!
Your small or mid-size business’s spark is your performance potential. In our monthly newsletter, you will gain the necessary ‘how to’ examples to boost this potential.
Your revenue growth management (RGM) approach begins with you and your team’s mindset and that of the ideal clients you seek.
The # 1 bad habit, mitigating an individual or business mindset is “winning too much” stated by Marshall Goldsmith, America’s #1 executive coach according to Inc. Magazine.
Regardless of your mindset’s level today, it is the right time to consider ‘how to’ breakthrough your performance limits. For example, take a look at “The difference between winning and succeeding.” Source: Ted Talk by John Wooden, winningest NCAA basketball head coach of all time:
Taking a lesson from the past, Mr. Wooden rarely used “win” while talking to his team. Instead, Mr. Wooden directed the team to focus on the process of improving, not results. Mr. Wooden didn’t avoid the word “win” because he didn’t care about the final score. Instead, Mr. Wooden or Coach Wooden did it to alleviate the pressure to succeed. Instead, he kept his players in the moment of the game and gave them their best chance to maximize their potential. Mr. Wooden emphasizes maximizing potential in the areas an individual can control, demonstrating the best way to lead and win. So he set up a whole structure that allowed at the same time complete freedom. It is sound wisdom today in the workplace, given the ever-increasing level of revenue growth expectations for your business as well as individuals.
There is plenty of excellent and proven social science research first outlined, for instance, on the TED Talks regarding developing your mindset, explicitly developing a ‘growth’ mindset. Briefly, we embrace a growth-based mindset when we believe that we can do and be better according to our effort. While you must guard against a fixed mindset, focusing on ‘A’ talent rather than effort is solely responsible for success. Your SaaS business’ leadership is key in establishing, developing, and expanding this growth mindset via, for instance, mentoring, coaching, or training.
Begin with a growth mindset succeed with daily improvements.
Shawn Achor, CEO of Good Think, is scientifically refuting many long-held assumptions in his TED Talk and confirming the following paraphrased: “Our levels of optimism, social support, and ability to see stress as a challenge instead of a threat predict 75% of the job.”
Evasive Consistency
Is your business hitting its revenue growth number every year, or like most does so inconsistently? If you are in the latter category, it would seem that you are as good as 78% of businesses, according to an SMA’s (Sales Management Association) sales study, or who are unable to achieve, let alone maintain consistent revenue growth. It is quite likely your business needs more revenues today, and to survive long term; it needs predictable and sustainable revenue growth!
So, where do you begin? Your business has probably put together a great corporate strategy. It is just that the results are not there. You may have found an ‘A’ talent to lead the way, but they still didn’t gain expected outcomes, or if they did, it simply is not consistent annually. You may have pursued a digital transformation only to find consistent returns were less than expected.
Meantime your clients and your business have high expectations, which continues to grow in the 21st century. It is framed by the prior ‘Information Age’ and ongoing growth of the digital world, while the COVID 19 in 2020 has changed expectations again. All businesses, consumer or business focus, are now on notice. Large enterprises through to small businesses have an equal chance of establishing consistent revenue growth management (RGM) in the future IF they crack the code of meeting this ever-growing and morphing expectation.
The first part of cracking the code is your business’ growth mindset. Eduardo Briceño is the Co-Founder and CEO of Mindset Works, and in his work:
There are clear actions we can all take to establish a growth-based mindset and enable our success. Science-based evidence proves that when we more readily adopt learning-oriented behaviors (such as deliberate practice and grit), we are better able to achieve our goals.
Mr. Briceño uses the example of Chess Prodigy, Josh Waitzkin, who won the U.S. Junior Chess championship in 1993 and 1994. The film Searching for Bobby Fischer is based on his early life. Get the latest insights from bEffective’s newsletter.
Spark In A Bottle
In her TED Talk, Angela Angela Lee Duckworth, author of “Grit: The Power of Passion and Perseverance” explores the science of why talent alone doesn’t guarantee success. She shows us that perseverance (a.k.a., grit) and passion matter at least as much as talent and intelligence. Of course, she was not the first to note it:
“Patience, persistence and perspiration make an unbeatable combination for success.” Source: Napoleon Hill, American self-help author.
bEffective summarizes some of the growth mindset research available below:
- Intelligence can be developed
- It leads to a desire to learn,
- Which embraces challenges,
- And persist in the face of setbacks
- Resulting effort leads to mastery
- While one continues to learn from mistakes, failures, and perhaps criticism
- And finds lessons and inspiration in the success of others
What your business’ revenue growth management gains accordingly is people who drive its strategy to ever-higher levels of achievement. All of this also gives them a greater sense of free will, engagement and that they are contributing. A sample development path for achieving the above growth mindset follows:
- Begin with clear daily work plans, add-in mutual respect and energetic collaboration
- Develop alertness, cultivate initiative, set achievable goals while aligning sincerity and ambition
- Create a work life balance, budget for improving soft skills and foster team spirit. Do so as you align adaptability and honesty traits
- Encourage being at ease in any situation and developing confidence. Do so as you align reliability and resourcefulness
- Foster competitive greatness: to be at your best when your best is needed. Do so as you align integrity and determination to grow focus and patience.
Identifying, developing and releasing your growth mindset is bEffective’s strength at your service. Further, doing so within your business’ revenue growth management (RGM) enables its eventual success is our hallmark trait. Where you want to be at this point was probably said best by John Wooden, winningest NCAA basketball head coach at UCLA of all time below:
Action Step
You’ve read our promise, for the challenge you may be facing along with the ‘how to’ solve it.
bEffective offers services to help your business establish its revenue growth management (RGM) in whole or for the module you need help to improve upon.
Should you wish to do it for yourself, then check out our resources menu for ‘how-to’ solve the challenge mentioned above as well as others in this area of our website. Keep in mind the research and science dictates the ‘right’ revenue growth approach needs to be built in sequence, integrated and more for achieving the promise percentage, dollars through to consistent cash flow.
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