Revenue

Sales versus marketing: Which is more important?

Sales versus marketing: Which is more important?

Many small business owners struggle with knowing where to allocate their time and resources. One issue we hear about a lot has to do with sales and marketing—which is more important?

The short answer is that both are important, but what we’ll look at today is the relationship between the two and how the industry your business is in has a lot to do with knowing which one deserves more of your time.

Why sales can’t depend on just one person

Why sales can’t depend on just one person

It’s likely that you have an idea in your mind of “The Salesperson.” This is the smooth talker, the rainmaker, the person who’s never at a loss for words and somehow manages to turn the most aggressively uninterested prospect into an eager buyer. While this persona exists for a reason, it’s not a good way to build a sales team. As a business owner, you can’t rely on finding that one extraordinary salesperson in order for your company to function.

Does your team understand the difference between profit and revenue?

Does your team understand the difference between profit and revenue?

Running a profitable business is a big challenge. Fifty percent of businesses started in the U.S. fail within the first 5 years. Why? Because they are unable to create a profitable business model.

While there are many different factors that play into running a profitable business, in this article, we’re going to focus on just one simple fact: the difference between revenue and profit. The distinction matters, and it helps immensely if the entire team has the same understanding of what profit is.

How to grow revenue as a small business

How to grow revenue as a small business

If you’re like most small business owners, you’re feeling the pinch of today’s economy. As you look for ways to increase revenue, it’s important not to overlook all of your options. The good news is that there are probably more ways to grow revenue than you might think.

We’ve found it’s common for businesses to focus on just one way to increase revenue, which is by getting new customers. While that’s a viable option, it also tends to be the most expensive one and can take the longest to pay a return. In fact, there are three simple ways to increase revenue that apply to almost every business. In this article, we expand on the three ways to increase revenue to give you more options for your business.