Last week, I with a bunch of technoprenuers from Malaysia, India, Singapore and Philipines. They were all hungry and eager to grow their business.
I moderated a 45 minutes session on various growth strategies, tactics and ideas that are relevant in current times. So I decided to do something different and not just talk to “at them” the entire time.
What I did was warm them up with some ‘possibility thinking’ then I showed them the business model to scale their tech business while working less than half the time. They liked that a lot.
I shared some of the things we implemented at few of our clients and they all liked it a lot. The next bit blew me away.
They were already on round tables, so I made time to do an exercise. At most sessions the participant note taking is not great and a lot is forgotten soon after the speech is over. Well, I wanted to do something about that.
With 10 minutes to go, I got each table (15 in total) to nominate a note taker and then I gave them 10 minutes to brainstorm ideas to get their firms to brain storm ideas to accelerate revenue and improve margins within next 12 months.
The energy in the room was amazing. Once the time was up, I had all the note takers take a snap and load the pic into the conference WhatsApp group.
What you’re about to read is the culled and consolidated list of everyone’s efforts. 100 strategies (or tactics) generated in 10 minutes flat.
I am sure you have implemented some of them and I am sure there are many more you could implement. We are mid way through the year. Some of these might be the ideas list you need to take your firm to the next level.
Below is the consolidated list from your peers. I particularly like no. 94. Enjoy!
1. Add higher number of type A clients 2. Productise services and sell IP 3. Increase billable hours somehow
4. Eliminate the BS in your business! 5. Price high – value based pricing 6. Elevate conversations with clients 7. System / Procedures documented 8. Document client goals 9. Product development system 10. Own (and know) the numbers 11. Make the hard decisions 12. Take risks 13. Health, not hygiene 14. Minimum client # more revenue per client 15. Business clients only 16. Don’t apply discounts 17. Headcount mix needed – hard look at resourcing 18. Put all clients on customer success survey routine 19. Higher billing rate & higher utilisation 20. Purchase a firm (easy to grow inorganic) 21. Services – Amplify value proposition 22. Add additional products to clients service packages 23. Get rid of poor performing (unreasonable) clients 24. Increase pricing by 25% plus 26. Niche market & specialise 27. Create an association 28. Write a book – become a thought leader 29. Maximise Technology for efficiencies 30. Everything in cloud 31. Delegate everything partner does 32. Distributed Team (Don’t pay rent) 33. Client events / webinars 34. Accept that people are going to say no 35. Right people in the team 36. Learn how to value our IP 37. Don’t be shy 38. Separate the sales role and the process role 39. The right sales and marketing tools 40. Don’t assume you cannot get more revenue from clients 41. Review overhead costs 42. Branding 43. Right Incentives = KPIs 44. Elevate and Delegate 45. Compulsory Minimum Service Offers for clients 46. KPI number of client meetings 47. CEOs don’t do the actual work 48. $2-$3 m per founder in clients 49. Systemise + delegate 50. Free management time (Less client work) 51. Review product offering 52. Deal with people you like 53. Deliver on service offerings 54. Downgrade office & reduce costs 55. Hire slow + fire quick 56. More efficient processes 57. More staff generate new business 58. Levels of engagement 59. Service Leverage 60. Focus on goals 61. Measurable Outcomes 62. Back yourself more 63. Less distraction 64. All Founder/Directors aligned 65. Improve social networking/markets 66. Leads – Lead Generation Marketing + Appointment setting 67. Free up time for more sales and client engagement 68. Tweak Organisational structure 69. Leverage wages/time with people 70. Social media presence 71. Team Buy In 72. A Team Players only – get rid of the rest 73. Industry Specific – get a niche 74. Increase billing rate dramatically (add more value) 75. Responsive website to drive demand 76. Fixed Fees for everything 77. Strategic Partnerships 78. Professional Development program – all team 79. Expand our market region 80. Sack bottom 10% 81. Visit clients, every quarter 92. Reviewing Systems 93. Develop Marketing Strategy & Measure it 94. Hire Mag Rajasekaran 95. Relevant people doing relevant tasks 96. Believe it’s achievable 97. Embrace change/price 98. Encourage Innovative Culture 99. Fixed Contracts for all clients/pricing upfront 100. Cut expenses everywhere
Mag ‘100 ideas’ Rajasekaran
P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :
1. Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.
4 Ways to Position Your Tech Business to Attract More Clients Click here.
3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.
2. Schedule a 15 Minute assessment call with us – Click here.
We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.
3. Join our Techcelerate Implementation Program and be a Case Study
I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.
Life is short. Take action now and grow.