Although there is plenty of investment capital available for promising projects whether they be startups or “incubator” ideas or new projects initiated within Corporates or SMBs, it still makes sense to ensure that there is a regular revenue trickle or an inland riverlet established prior to attracting significant investment.
A river or estuary revenue flow rarely starts from “get go”.
MAKE USE OF COMPANY HUMAN AND FINANCIAL SUPPORT
There are always tech or sector marketing specialists who are willing to help if they feel that they can be associated with a bright innovative idea. Never be shy to seek the advice of mentors who have rich sector experience. They will learn from you too.
START TEST SELLING VERY EARLY TO GET THE FIRST REVENUE TICKLE
For SaaS Growth projects create Beta tests with customers and give early adopters special rates. Give retailers trial offers or first small orders on consignment. Give ICP (Ideal Client Profile) buyers free sample service.
Absorb feedback to continuously improve your product or service.
TEST MARKET WITH PARTNERS OR DISTRIBUTORS
At Transaction Focus, we involve Revenue Partners and Distributors in test marketing initiatives. This is an important part of PRM (Partner Revenue Management) and even can be included in Distributor Due Diligence (DDD) assessments to establish our distributors’ level of engagement and enthusiasm.
DREAM TEAM COMPOSITION AND CULTURE IS KEY
Creating a project team vibe requires leadership and sales and marketing management expertise. Consider experienced outsourced sales and marketing resource with strong customer connections. Promote this team in your investment pitch deck and even include an international team prior to embarking on your Global Sales Acceleration phase.
Written by Charles Smee, Founder of Transaction Focus