In a tough economy, impact revenue or go home

by Lilia Shirman on March 3, 2009

in Economy

It was great to be speaking to a room full of entrepreneurs last Thursday at the TechCoire panel, Strategies to Drive Revenue in a Recession.   Gopan Madathil masterfully organized the event.  The big takeaways form our panelists (Igor Shoifot of Fotki, Rajat Paharia of Bunchball, and Vadim Rosenberg of CA) for generating revenue in this economy:

  • Listen more carefully than ever to customer requests and use them to create new revenue-generation initiatives
  • Look at the ideas you’ve accumulated but never executed. This might be the time to finally try a few.
  • Don’t walk away from customers who like what you’re offering but don’t have the budget.  Instead get creative about restructuring the deal – change payment terms, deliver in phases, start with smaller volumes, etc.
  • Always be on the lookout to great sales people – those who know how to connect and build rapport with customers.
  • MOST IMPORTANTLY: Revenue generation is the top priority for just about any company right now.  Resuscitate stalled deals and accelerate the close by showing how you can help customer sell more.

Got more ideas for driving revenue while everyone clutches their wallet ?  Comment!

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