Why Do Some Companies Grow Profitably While Others Stall?
All companies seek to experience high sales growth. Even the most successful companies face slow growth at some point in their journey and are forced to reinvent themselves – think Levi Strauss & Company in the year 2000 after a 35% decline or Toys “R” Us today. Other companies like Cable TV providers struggle to grow as fast as industry leaders like Netflix. While business models and timing certainly come into play, there are other factors that leaders should pay attention to.
A Recent McKinsey Study
A recent McKinsey study of more than 1,000 companies identified five meaningful things that distinguish fast-growing sales organizations from their lagging peers. They were a commitment to the future, a focus on key aspects of digital, using sales analytics, investing in people, and marrying leadership vision with action. Here’s our take on what leaders must do to outperform their peers.
Four Ways to Unlock High Sales Growth for Your Company
After analyzing our organizational alignment research results and then blending in our own experience of twenty-plus years of working with sales leaders, we have come up with four of the most distinguishing features of high-growth companies. The so-called secret sauce of high sales growth includes:
The Bottom Line
Our high performance research found that sales leaders have seventy-two different leadership actions that they can take to improve sales performance. Regardless of industry, these four ways to unlock high sales growth for your company are a great place to start if you want to outperform your peers.
To learn more about how to boost profitable sales revenue, download What is the Right Amount of Sales Performance Pressure to Create High Growth?
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