Laser focus on Revenue, GTM cost & Profit
We all know that it is a tough time for businesses, particularly start-ups. Missed targets, layoffs, and reluctant investments characterize this period. Now, more than ever, it is crucial for RevOps to maintain a laser focus on initiatives that elevate revenue and profits while reducing GTM costs.
In RevOps, one can easily become engulfed in technical details. However, most of the time, these are less important than one might think. Employ the Pareto principle to guide your decision-making.
Team structure that drives alignment
In RevOps, alignment is crucial to drive activities across departments, be that customer journey mapping, tech stack architecture, or identifying revenue leakages.
This implies that RevOps needs to be empowered to enact those changes and must be exposed to a wide range of stakeholders. Later in the newsletter, we will cover to whom RevOps should report.
Forget your 2 year plan. Stay flexible
It is important to have a RevOps roadmap for the future, but maintaining flexibility is key.
Thanks to the advancement in AI and productivity tooling, the software development cycle has never been as short as it is now. This acceleration means that more products are being added to the market than ever before, which have the potential to significantly enhance operational efficiency. However, this also implies that a new competitor can enter the market at any time and disrupt your business.
This flexibility becomes even more crucial if you have not yet achieved Product Market Fit.
Create documentation that works for you
Your goal with documentation should be to achieve a level at which you can take two weeks of leave and nobody notices that you are gone.
You might say that this is impossible, but it truly is not. Every process can be documented. Utilize Loom for complicated tasks and ensure all information is easily accessible.
Perfecting this at a business-wide level can make the difference between a great and an exceptional company. Imagine—no more bottlenecks!
Automate if it is easy or with scale, don’t do it to early
Automations are remarkable as they aid in scaling efficiency. There are quick wins that are simple to set up, such as automated email logging, notifications based on triggers, or call summaries. Establish those now if not done yet.
However, it is not always worthwhile to automate for the sake of automation. You likely want to evaluate carefully when considering automating your contracting process. For instance, enterprise contracts often require customizations, and additionally, a high volume is needed to justify the automation cost.
In such cases, it is more prudent to focus on improving processes. Then, automate once a consistent, recurring pattern and the appropriate volume have been established.
Trust in data, but don’t forget business is a social science not a STEM
Data is crucial in driving our decision-making, but at the same time, we have to acknowledge its limitations. It is a social science. Human behavior is extremely hard to predict. If it were easy, we would all become rich by purchasing the right stocks.
We can attempt to create a model that is as close to reality as possible, but there will always be room for interpretation. We are both big data fans, but we are also realistic about its limitations. The smaller your business is, the more valuable intuition and experience are. Use data with scale.
Communicate as if your life depends on it
You need to be a good communicator to drive change. This is especially important in Revenue Operations. A lot of work in RevOps occurs behind the scenes. Almost nobody sees this work, particularly not the leadership.
The best tip we can offer you is to link every project to the following:
Assess how the project impacts revenue,
How it reduces costs,
Or how it increases profits.
