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CEO Challenge

Who fails more often the leaders who live by great Why or a great What?

Simon Sinek told us about the power of WHY, HOW, WHAT communication Why Questionand like everything else we all have a preference for one of those over the other.

Often there are leaders with powerful WHYs that get investment capital, great early staff and early adaptor customers lining up to be first to experience the WHY.  This group tells powerful stories, paints a compelling future and explores future options.

Even more often there are leaders who are all about execution and execute they well.  They also get investment capital and staff who love to execute and execute and execute.  This is the perfect model for a fulfillment bubble market.  There is a BIG demand that needs big fulfillment now and execution is what it takes.

Each of these look good for a while like great successes and then flame out.  The first leader gets a fast market valuation based on the compelling future, takes the company public and spends all that cash, but never figures out now to monetize the WHY in the market.

The second leader dives into the market, delivers a good product in volumes that meet the market demand.  But this leader doesn’t have a WHY.  They are in business to produce as much stuff as possible, as fast as possible, for as much money as possible.  Yet when the market demand goes away the staff move on and the money dries up.

Both are built on myths (partially true evidence) and look good for a short time.  The WHY leader fails earlier and breaks the hearts of those who love the WHY.  The WHAT leader often makes a lot of money in the bubble and then bursts.  Both are temporary and incomplete.

If you are the entrepreneur don’t build either of these if you are in for the long-term.  But if you are OK with in fast, out fast and let the next guy go broke a WHAT company is that option.

If you are an employee and want to work someplace great join the WHY leader and push for HOW and WHAT.  If you want a job where you can make a lot of fast money and move on, then join the WHAT team early and exit while your checkbook is full.

Find or create a great long-term company with a leadership team that started with WHY and has HOW and WHAT team members in the C-suite making sure the organization is complete and long-term.

“Revenue Science” creates the greatest growth from your
Marketing, Selling, and Delivery resources deployed.

Contact Us to learn about “Revenue Science”
deployment and certification.

Article written by Rick McPartlin

Rick McPartlin

As the co-founder and president of The Revenue Game, my mission is to help companies focus their organizations around the critical function of "revenue generation."


CEO Challenge

“Revenue Science” answers the question “is knowledge power?”

Knowledge is power and it can command obedience. A man of knowledge during his lifetime can make people obey and follow him and he is praised and venerated after his death. Remember that knowledge is a ruler and wealth is its subject.

— Imam Ali, Nahj Al-Balagha, Saying 146

The phrase "scientia potentia est" (or "scientia est potentia"[p] or also "scientia potestas est") is a Latin aphorism meaning "knowledge is Fotolia_86529439_M-resizedpower". It is commonly attributed to Sir Francis Bacon, although there is no known occurrence of this precise phrase in Bacon's English or Latin writings. However, the expression "ipsa scientia potestas est" ('knowledge itself is power') occurs in Bacon's Meditationes Sacrae (1597). The exact phrase "scientia potentia est" was written for the first time in the 1668 version of the work Leviathan by Thomas Hobbes, who was secretary to Bacon as a young man

Knowledge has been valued for a long time.  These quotes indicate it has been valued for thousands of years and it has something to do with wealth and power.

If it has to do with wealth and power, it must have application to business and as business only exists as long as it can create profitable revenue then there must be a “Revenue Science” lesson in here someplace.

“Knowledge is power” got over 9,000,000 google results so we can assume someone is thinking about it, talking about and is interested in the truth of it (or should be).

Merriam-Webster gives us a definition to start our conversation with:

Knowledge | Definition of Knowledge by Merriam-Webster

www.merriam-webster.com/dictionary/knowledge

2 a (1) : the fact or condition of knowing something with familiarity gained through experience or association (2) : acquaintance with or understanding of a science, art, or technique b (1) : the fact or condition of being aware of something (2) : the range of one's information or understanding

Over the last couple of thousand years the passion for acquiring knowledge has changed forms.  Two thousand years ago before the internet, libraries or the printing press a person would gain knowledge the fastest by hanging out with others who had hung out with others in order to accumulate all their learnings and knowledge.

Some of these seekers were good at documenting learnings and others not so much.  We can be sure when a person with knowledge dies at least some knowledge is not passed on.

After the invention of the printing press around 1450 more knowledge was captured, less was lost and anyone could build on anyone else’s knowledge base without ever meeting.

Today technology, mass data storage and electronic communication not only preserve the learnings but make them available to every corner of the world in real-time.  Everyone can build on everyone else to expand individual and community knowledge at speeds inconceivable a generation ago.

So what does this have to do with “Revenue Science” and how does it help to answer the question “is knowledge power?”

If Webster’s first definition is at least close to right: the fact or condition of knowing something, then Google must be the most powerful and wealthiest place on the planet (that may be close).

However, the utterings from history and Webster aside I don’t think the power is just: the fact or condition of knowing something but it comes from the application of what they know.  The ability to present knowledge in a useable way is what is valued by the learner.  The application of the knowledge is from the receiver’s frame of reference and like google it is the application where the power and wealth come from.

Today having knowledge is not enough.  It is not enough for power or wealth.  It is often not even valued to a point where someone will give you money.  Facts and even the understanding of the facts is growing so fast we don’t even know how to describe the growth so most of us understand.

There are so many facts that today’s biggest issues are created by all those facts.  Business is paralyzed by complexity, chaos, unlimited choice and options.  All of that and the velocity of additional knowledge annuls next year’s business plan before this year is over.

So the answer to the question “is knowledge power” is NO.

According to “Revenue Science” it is the “aligned application of knowledge that is power.”

History is full of businesses applying knowledge to go out of business.  Blockbuster knew how to collect late fees, Montgomery Ward’s know how to produce a catalog.  The Regional Bell Operating companies knew how to put cooper in the ground to connect home phones.  They had great knowledge and they applied it.  They just never aligned that knowledge to anything the market placed great value on and would pay for.

“Revenue Science” and practicing CROs support a disciplined application of the science.  It is not enough to have knowledge, it is not enough to have efficient operations for application, it is not enough to have a large customer service team to fix things.

“Revenue Science” today like Six Sigma which launched 30 years ago is about the alignment of all resources to a single purpose.  For “Revenue Science” the purpose is solving customer problems not just today with a single product or service but for decades.

Disney has been solving the problem of creating the Happiest Place on earth for generations with no sign of stopping.  That is an example of “aligned application of knowledge.”

Many would say the “aligned application of knowledge” is hard.  The truth is it is different than hoping to be in the right place at the right time with the right product and then getting out while the getting is good.  It is a disciplined way to add value to your customer for a very long time and make a lot of money and increase your company’s value while doing it.

 

The real difference in an “aligned application of knowledge” is about applying “Revenue Science” in a disciplined way (like what your doctor does to keep you alive).  Not doing aligning the application of knowledge is like hoping for a hot streak at the blackjack table – very hard to predict or repeat.

 

Today the “aligned application of knowledge is power.”  Everyone willing to learn the science and acquire the discipline can have the power and since it is customer focused it is power for “good.”

“Revenue Science” creates the greatest growth from your
Marketing, Selling, and Delivery resources deployed.

Contact Us to learn about “Revenue Science”
deployment and certification.

Article written by Rick McPartlin

Rick McPartlin

As the co-founder and president of The Revenue Game, my mission is to help companies focus their organizations around the critical function of "revenue generation."


CEO Challenge

FAQ – Why do I have to know “what is the problem you solve for your customer that NO ONE else solves?”

FAQs that drive growth in sales and profitable revenue

  • Why do I have to have an answer The text What's Your Story appearing behind torn brown paper.“what is the problem you solve for you customer that NO ONE else solves?

Every company gets to tell the world one of two stories.

  1. The first story is you can tell me WHAT you do and maybe a little about HOW you do it.
  1. The second story you can tell is WHY you are in the business you are in and HOW you turn that into a reality.

While each company gets to decide which story they tell they don’t get to pick the frame of reference of the person who hears the story.  The person who hears the story is a customer or more likely a perspective customer.

Regardless of what business you are in it is rare that your customer knows was much about your business as you do.  If WHAT you do is really important and / or valuable to the customer they often know very little, so when you tell the first story the prospect often understands little about what you to.

The prospect needs a transplant (heart or tree), a solar system, windows, a will or wedding photos.  The WHAT you do words you use sound just like the last the people who seem to do what you do since they used the same words, and who also had great references and even showed similar examples.  The prospects only know two things; they know who they liked and the price.  Since they really aren’t looking for a new friend price almost always wins.

The second story almost never even mentions WHAT you do until you and the prospect have all but signed the agreement.  The second story often starts like this.  We are a family business started by my grandfather after WWII.  The army taught my grandfather and his brother electronics during the war but more important they learned how vital it was to do the best you can and work as a unit.  When grandpa and uncle Jim got back they promised to build a family business to support their families and the families of their employees.

We have been in business since 1946 and many of our current staff are the children and grandchildren of people we hired in the first ten years.  We do internships and apprentice programs with 3 local high schools and provide one $5000 scholarship a year to an employee or employee’s family member.

We believe it is this commitment to our people and the community that has seen us grow 20% a year with no advertising – that and we are the best at what we do in the state according to industry evaluations.

The problem you asked us about is exactly what we have been doing for generations and we would love to help you get that done, so please tell me more about the problem you are working on.

The second story is based on the power of WHY the solution to the buyer’s problem is unique and the buyer understood every word.  Most buyers will go with the second story - many without even finding out the price.  That is why the problem you solve that no one else solves is SO important and worth answering.

“Revenue Science” creates the greatest growth from your
Marketing, Selling, and Delivery resources deployed.

Contact Us to learn about “Revenue Science”
deployment and certification.

Article written by Rick McPartlin

Rick McPartlin

As the co-founder and president of The Revenue Game, my mission is to help companies focus their organizations around the critical function of "revenue generation."


CEO Challenge

3 Don’ts – 3 Do’s and 1 Rule you must follow in the Transparent World

Until someone told us don’t believe:Great Wall of China at Sunrise

  1. If You Shave Your Hair, It Returns Thicker And Faster
  2. The Great Wall of China Is The Only Man-Made Structure Visible From Space
  3. Thomas Edison Invented The Lightbulb
  4. Humans Only Use 10% Of Their Brains
  5. Men Think About Sex Every Seven Seconds

Many of us did believe these myths, and my guess is some still do.

“Revenue Science” has some does and don’ts around "Revenue Generation" myths and principles as well:

Don’t spend your time:

  1. Planning how to compete with other companies.
  2. Finding great people to hire.
  3. Measuring and managing activities.

Do:

  1. Develop a worthy intention that drives your business and can be monetized.
  2. Hire those people who are as crazy committed to your worthy intention as you and who will get the jobs done.
  3. Measure aligned behavioral outcomes by humans in the market for every activity in your company and know the amount of leverage each outcome creates. Then do more of those things with the greatest leverage.

The rule you must follow is:

  1. Commit your business to a worthy intention that compels customers to assuring your success and don’t do anything else.

The 21st century technology makes us and everything we do transparent.  When it is all said and done your business has a worthy intention that produces value or just wants money.  No matter which the world is watching.

“Revenue Science” creates the greatest growth from your
Marketing, Selling, and Delivery resources deployed.

Contact Us to learn about “Revenue Science”
deployment and certification.

Article written by Rick McPartlin

Rick McPartlin

As the co-founder and president of The Revenue Game, my mission is to help companies focus their organizations around the critical function of "revenue generation."


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