BUSINESS KILLING MISTAKES #6 – NOT FOLLOWING THE SCIENCE

During the COVID-19 pandemic, a popular catchphrase has become “Follow The Science.” But what does that have to do with business? Everything… 

Overview of not following the right science

  Are you following the science? This is a popular phrase that is used by politicians and people to support their approach or ideas regarding the best ways to handle the COVID-19 virus and its variants. Well, this article is not about the virus or politicians; it’s about business. 

Why you should care is for this reason. There is a lot of “science” in the business success that you must learn, understand, and quickly apply. This article is about the “science of revenue growth” and understanding how to apply it. That is just the opposite of how many leaders, entrepreneurs, and employees run one-half of their businesses. 

Read this article until the end to understand what you MUST do to make sure you and your teams are following the science. Our clients who have bought into our “following the science approach” are scaling their sales, revenue, and profits without using more resources or wasting time or money. They are leveraging business science to achieve enterprise optimization and having more fun and less stress than ever. 

WHAT DOES NOT FOLLOWING THE SCIENCE MEAN IN BUSINESS

I experienced the joy of touring a wonderful contract manufacturing plant last week that specializes in complex assembly work. The plant walk-through was led by the CEO of the organization, and she has been an expert in this form of manufacturing for almost two decades. During the walk-through, we had a great discussion about the manufacturing techniques they were following such as Kaizen, Gemba, and others. 

As a group, we humored ourselves about all the structure, flow, discipline, and methodology associated with precision design, assembly, and even documentation. Every section of the plant had yellow lines painted on the floor to act as guardrails for any rogue employees or “out of line” equipment.  

I shared with the host my background with GM and how I found the “science” of manufacturing so intriguing. She agreed. I went on to say, “And that is my greatest frustration with leaders and entrepreneurs running companies. In almost all cases, on the operations, delivery, or production side of the business, there are disciplined methods, not madness.

However, that’s not true on the “revenue generation side of a business.” There is little to no science being applied. What I find all the time is this:

RANDOM ACTS OF SALES AND MARKETING

Opposite of the operations side of a business which emphasizes lean and mean, the random acts of sales and marketing activities eat profits, destroy working capital, burn cash, and abuse resources. 

WHY do leaders not follow the science throughout their enterprise 

Why do leaders Follow the Science in part of their business – delivery and operations – but not the part that generates sales, revenue, and profits?

The reason few leaders Follow the Science for revenue growth (please don’t focus on “growing your business” as you will learn in the book) is that they don’t realize that real, proven, and immutable science even exists on the revenue-generating side. I’ve had many CEOs over the years claim, “It’s just the way that marketing and sales works – it’s more art than science.” That may have been true in the last century, but not anymore. 

Our twenty-five years of client work shows that 99% of all leaders run the wrong kind of factory for marketing and sales. Their factory produces and sadly doesn’t reward following any science, but generating activities. Lots of activities. Lots of busy work that has no or little real value – but it feels good. 

I remember years back an accounting client telling me their biggest problem was when their CPAs went on sales calls, they would stare at the prospect’s navel. And when they got nervous, they would stare at their own navel.  Don’t laugh because marketing and sales stare at the wrong things too!

Marketing is usually overly fixated on dashboards and analytics. Look at all the activities and reports – they exclaim. Sales is enamored with filling out pipeline reports of sales calls (sometimes never made), meetings (which were pointless), emails, proposals shipped, and forecasted pipeline phases based on the number of sales activities they’ve completed. 

Stop! You must transition from an “activities factory” to a “production-based system” – a system that follows the science. 

CHANGE – FOLLOW THIS KIND OF BUSINESS SCIENCE

For driven leaders and motivated employees, to transition to where your whole company follows the science, you must first understand what this means. 

Science definition in business:

Science in business is the continuous pursuit, identification, testing, and validation of ideas, principles, methods, and means which efficiently, effectively, and sustainably produce top line, bottom line, or both, results – consistently meeting or exceeding targets. 

Moving from theory to application, let me give you some examples of “following the science” in marketing and sales. Everything you and your team do in creating new prospect demand and converting those contacts into contracts and cash must follow PROVEN methods, formulas, processes, and methodologies.

Now, if that sounds like a lot of work, just remember your competitors are learning how to do it this way. 

For example, here are a few ways that our clients Follow the Science when implementing the Entrepreneur To Millionaire (E2M™) roadmap. 

• Optimizing a business – maximizing sales, revenue, and profits using the fewest resources requires following four sequential phases; (See Table of Contents in Entrepreneur To Millionaire) 
• The complex sales methodology will have seven distinct phases; 
• The physical sales call must follow three phases and five different steps;
• Every messaging tool must follow a three-part sequential formula;
• Every value proposition must include 3-, 6-, or a 9-part formula;
• Every presentation must follow a problem, resolution, benefits (value), call-to-action format;
• Every marketing strategy must align with a core objective and set of SMART goals;
• An email campaign must follow three phases and nine different steps;
• Developing a Perfect Client Profile (PCP) must be composed of three different categories. (Read Chapter 5 – Targeting Your Sweet Spot)

There are hundreds of more methods, formulas, tools, templates, and processes you will need to build your Revenue Growth® System, but this should help you understand that there is a ton of science you must follow. 

BENEFITS – why doing it this new way is so important

The “Follow the Science” approach is the fastest, smartest, and easiest way to make the most money possible to help you and your employees quickly become embarrassingly rich.

KEY LEARNING POINT

Follow the Science is a popular phrase while we are all working through the COVID-19 pandemic. However, what I want you and your team to learn is to  Follow the Science in how you make money. Generating more sales, revenue, and profits without working more hours, without hiring more people, or without burning more resources is not only possible, but we have had thousands of clients become millionaires and multi-millionaires using our science. 

What to do right now

1. Ask your marketing team to explain, show, or discuss how and where they  Follow the Science to produce the number of high-quality and qualified leads which exceed their lead generation targets.
2. Ask sales to explain, show, and discuss all the ways where they follow methods, formulas, processes, and methodologies to produce sales that meet or exceed their targets every month or quarter.
3. Identify areas and competencies such as “Executive Presentation” or “Proposal Presentations” where there are formulas, methods, competencies (clusters of skills) required to win new business repeatedly.
4. Focus on following the science in everything you do in your Revenue Ready, Market Ready, Go-To-Market, and Own-the-Market phases. 
5. To implement the science and do all of this ten times faster and better contact us as we have already built the tools, templates, methods, and formulas and proven them thousands of times. 

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AUTHOR BACKGROUND

Kent Billingsley is the founder and president of the Revenue Growth® Company, LLC (TRGC). He is a published author, international keynote speaker, and business transformation expert. He has become America’s Revenue Growth® Architect by helping thousands of entrepreneurs and CEOs (representing over a million employees) generate several billion in new sales, as well as tens of billions in new revenue and profits for large corporations. He has personally designed, built, transformed, and turbocharged several thousand organizations in 36 countries. Over the last 20 years, his proprietary content and trademarked programs have helped thousands of entrepreneurs and employees become millionaires and multimillionaires by “creating wealth” inside their companies. He can be reached at [email protected].