President John F. Kennedy is commonly attributed to the economic growth aphorism “a rising tide lifts all boats.”
Here’s why a no longer rising tide matters;
Companies that grow faster than the market in good times, often outpace competitors when economic activity is less buoyant.
In many sectors, demand is robust, with sales and marketing teams achieving the best results in years. When sales results are robust, sales and marketing leaders credit themselves for hard work and execution. Still, when results are weak, it’s the fault of the economy or external macroeconomic factors.
For the sales and marketing teams that are executing better, they are outpacing industry growth and doing so, more productively and profitably due to the flywheel effect – and according to author Jim Collins, that’s when a company goes from good to great.
Now is the time of year when most CEOs and sales leaders are finalizing their 2020 sales growth goals.
After the obligatory review of headcount and marketing budgets, we recommend an honest discussion of sales and marketing team execution gaps, and the resources and investments needed to plug the holes.
The time to invest is, now, when business is strong. When the economy or industry hits a downturn, investments in sales and marketing execution may not make it through the budget process.
These investments also take time to bear fruit, typically six to 12 months.
If you invest now, you’ll be in better shape for a downturn, and you should be able to catch the flywheel effect sooner rather than later.
Unfortunately, many companies will have an out of focus view of this year’s success. Better optics of your company’s sales and marketing execution capabilities can position it for more consistent and faster growth.
“The tides do not command the ship. The sailor does.”
― Ogwo David Emenike