Take a look at successful firms, whether in the AEC industry or not. What do you see? Confusion on who is doing what? Confusion on responsibilities? Confusion on what is driving revenue? Seldom is that seen. In successful firms, it's clear on who is doing what. It's clear on accountabilities and there's a complete understanding of the activities that contribute to the firm's revenues and long-term sustainability. Their revenue generation engines are built right!
What does your revenue generation engine look like?
Some firms engage in strong marketing programs which contribute to a firm's long-term viability. Other firms put all their resources into proposals and interviews to chase the "now," while missing out on the opportunity to stir the pot of prospects for future work and build repeat clients. Some firms have informal client relations activities, but no formal program directed at building those repeat revenues.
If you want to pull full power from your revenue generation engine, it requires building your engine right. Successful revenue generation programs include three components:
Each of these components has a job to do. Marketing positions your firm to improve the acquisition of opportunities and projects. It lays the groundwork for revenue sustainability and supports your business development function. BD focuses on the actual acquisition of work and client relations helps to build those long-term relations that lead to further revenues. If you're missing out on pulling full power from any of the components, you're missing out on building stronger revenue.
Is your revenue generation engine built right?
A presentation to your team on Integrated Revenue Generation can be the key to building your revenue generation engine right! Email email@example.com for more info.
Friday Chow is posted weekly, or thereabouts, to provide you with insights and considerations for AEC sales and marketing. Good stuff to feed your revenue engine!
When you're ready to improve your business development, marketing, and client relations programs, contact Red Hound Studios at firstname.lastname@example.org