02 May How to Grow Revenue through Good Management
How do you grow revenue through good management? That’s the question that Dr. Amy Osmond Cook, CMO at Simplus, discussed with Ryan Northington, managing director of strategic services at Simplus, on the Revenue Growth University podcast.
Since March of 2017, Simplus has been able to triple its revenue growth by implementing effective managed services for clients. And, as Northington explains, this would not have been possible without good management.
Amy: Why is good management so important to growing revenue?
Ryan: When you think about growing revenue, your first thought typically is the go-to-market strategy: the customer base, the segmentation. How do I get my product to market faster, better? Those types of things. What people don’t always think about at first, anyway, are the defensive plays to protect that growth. You need to have a team that wakes up every day knowing exactly what they’re going to do, how they’re going to do it, and how that aligns with their team’s goals and ultimately the company’s goals as a whole. Growth in any company is not a reality unless you have that structure set in place.
Amy: What framework is most effective for good management?
Ryan: It’s important to start with a certain mindset. People don’t leave companies—they leave managers. Managers are the catalysts that turn visions into strategies and performance. The mindset we use is the upside-down pyramid: customers at the top, then resources or our people next. Then we talk about the support, feedback, and power that go up and down the pyramid structure.
Amy: How much oversight should you provide?
Ryan: It’s a fine line. It’s a balancing act because you can turn “directing” into “micromanaging” very quickly if you’re not careful. There is one thing that makes an impact on keeping up quality in our team, and that’s immediate positive feedback from directors. Nothing encourages a manager or employee to up their game [more] than by saying, “Wow, that was really good. I’m impressed with how you handled that. Do you mind if I share this success with the company?” Of course, you have to address the failures and what needs to be changed, but if you focus on the positive, a lot of those negative aspects will self-correct. It’s really incredible.
Click here to listen to the full podcast.