Any good business generates revenue. However, this fact can impede growth. The desire to work hard and increase revenue can be a tactical decision that ignores good strategy. In this episode, we look at some steps you can take to keep yourself from losing the big picture.
Strong Companies Require Business Development
The problem with strong revenue is that it is a short-term value. I can sell a million dollars worth of product in one day. However, that does mean I will ever sell even $1 worth of product again. This example is obvious and simplified. Nevertheless, it is a microcosm of working in your business rather than on it.
The current revenue numbers we see may keep us happy, content, or too busy to look ahead. That approach may be sufficient, but what about the competition? When a company decides to coast where it is at that leaves opportunities for others to whittle away at the customer base. IBM had a chance at owning the desktop market but decided to ignore it. That opened the door for Microsoft to carve its own place in history. Our goal is to keep growing our business and not get distracted by momentary victories.