Elon Musk will not take Starlink business to IPO unless it is “in a smooth sailing situation” with “good predictability”.
This is no brainer.
If you are a CEO and planning to go IPO, you MUSK (!) have predictable sales.
There are some more things that you need to fix of course.
E.g. internal processes
. . transparency
. . standardized hiring etc.
Now the question is how to build a predictable revenue machine?
Revenue is coming from two sources:
- New customers
- Existing customers (upsell/cross-sell)
If you want to maximize your sales from existing customers, there is a high chance you are relying on your sales team and Account Executives (AE).
Their job is to go deep into the account.
Find out what the stakeholders need.
And then come up with solutions (selling your products or services) to get to their revenue target.
NOT AT ALL!
The challenge is; All your competitors are doing the same within that account.
This means, no matter how effective your AEs are, there will be times that they leave money on the table and lose to competitors.
There will be times that your customer's stakeholders, will keep things to themselves from time to time and your AEs will not know what is going on within the account.
There will be times that things move so fast with your customer, that they have to choose just one vendor (= AE) to get things done for them.
So, others will not succeed even if they do things perfectly.
Glad you asked.
Instead of relying on manpower to unlock these strategic initiatives, let's rely on data.
Chances are you are having lots of backend data about your customers within your business backend.
This can be Salesforce, HubSpot, NetSuite, ERP, Oracle, Web development platforms, Jira or any other platforms.
We can build a data analytics solution and based on certain algorithms, extract the risk areas within your customer's environment.
You have your opportunities.
Risk = opportunity.
This is a fact.
If your customer is showing risky patterns of behavior, there is your chance to go in there, highlight the risks, and position upsell/cross-sell to help them improve the situation.
So, all you need to do is to follow this process:
Find risks => Take the insight to customer => position services/products => sell
This is how you can formulate a predictable revenue stream from your existing customers.
More to come in future . . .
P.S.: Feel free to check us out here . . .
P.S. 2: Here is the link to Musk's article.