You can’t cut your way to growth.
But you can certainly cut bloat:
• costs that don’t directly support your revenue
• extra expenses that don’t support your goals
• hidden software costs (you don’t need 5 seats on your CRM if you only have a team of 3 – yes you can negotiate everything)
If your company’s return on marketing & sales spend (including tools, people, and ads) is not positive and you’ve identified that your core issue is not your business model, you may have an OpEx & labor efficiency problem.
Here are some questions to consider:
- The activities your team is investing their energy, are these the right activities?
- If they are the right activities, are they being done poorly?
- Are your marketing channels hitting their goals?
- Is your sales cycle optimized to facilitate proper deal flow?
- Do you have the right level of staff in place?
- Does your staff need additional education or resources?
- Is your offering and pricing in alignment with your market and Acquisition Model?
8. How can I introduce AI tools to help my team do more and go further?
PS If you or your team think AI will replace you, you’re doing the wrong activities.
Instead, focus on how AI can give you a competitive advantage for the work you are doing (or should be doing).