Building Predictability into an Unpredictable Market

Our final set of lessons focuses on preparing for the unexpected, reinforcing your financial foundations, staying focused on what’s important not just what’s urgent, and enjoying the ride.

Here’s the first 3!

💡Lesson 21: Create a model for predictable revenue generation.

Or at least as predictable as you can. Whether it’s based in client stickiness OR some type of regularly occurring, chronic “problem” that they need solved if you can’t do recurring revenue.

By the time I was nearing the end of my second decade in business I had solidified my offerings to help “stabilize” my incoming revenue and make it less prone to the ups and downs of the economy.  The three “services” were Scaling Up strategic planning and implementation, Leadership Development and Team Building with select clients and Monthly Roundtable of CEOs who enjoyed each other’s company were able to have fun together and hold each other accountable proactively and firmly because they were all using the same language of business.

Along with the events that we ran and offered to the larger community (including their leadership teams), which we used for marketing too, having the strong peer group enabled me to keep clients past the initial 2 to 3 year Scaling Up engagement AND longer in what was inherently an unpredictable industry.

💡Lesson 22: Find your People!

Find the resources and preferably the community to help you continue to learn and grow as a businessperson. Joining the Gazelles organization in 2008 (the original Scaling Up community) was a game changer for me. Having access to my own peers and the opportunity to learn from business Thought Leaders and guest speakers as well as my fellow coaches was instrumental in helping me to sharpen my own saw, stay current and bring those same speakers back to my community when appropriate so that they could learn and grow.

💡Lesson 23: Invest in the Right Relationships

As a woman in a VERY male dominated business community and industry, it became imperative for me to create friendships with other women and proactively engage with women colleagues. One of the smartest investments I made in time and energy was forming a women’s Mastermind group.

These relationships have given me grounding, perspective, and the strength to lead with courage. And wonderful friendships that have lasted over a decade!

 

Tags: Business advice for the mid-market, Generating Revenues, Overcoming small business challenges