Getting to $1M in revenue is a major milestone. Less than 1 in 20 companies (just 5%) ever achieve the product market fit and market presence to reach this revenue threshold.
But scaling from $1M is even more challenging, with less than 1 in 200 companies (.5%) ever getting into this rarefied air. So what are the growth blockers that prevent emerging companies from reaching the next revenue stage and how do we overcome them?
In a recent conversation with my colleague Eric Rudolf, a highly sought after Fractional CMO and Go-to-Market (GTM) accelerator specializing in emerging companies, we identified 5 of the most common issues that prevent businesses from scaling and 5 strategies to help businesses scale from $1M to $10M in annual revenue.
We are launching a 10-post series that will focus on one of our key insights per post. Here’s a sneak peek into our upcoming posts, not necessarily listed in order of importance:
Five Marketing Blockers to Growth
- No internal alignment on value proposition
- Overinvestment in one marketing channel
- Lack of a thought leadership effort
- No marketing support for channel efforts
- Inability to measure ROI from marketing investments
Five Sales Blockers Strategies for Growth
- Not capturing your best customer stories to personalize in each sales call
- Focusing sales on all customers, instead of your IDEAL customers
- Not building a shared sales process, it leads closing and forecasting to suffer
- Lack of shared sales playbooks to capture and share best team practices
- Failing to practice sales skills all the time. Every market is very competitive
Join us in this conversation by following the series on LinkedIn!