video | December 13, 2016
8 Questions to Select the Right Markets to Compete
Today’s topic is how to select the right markets to compete in. It’s difficult to grow revenue faster than your industry’s growth rate and faster than your competitors. Leverage the How to Make Your Number in 2018 to access a revenue growth methodology to hit your number quarter after quarter, and year after year.
Our guest is Rick Haviland, the President of MarketSource. MarketSource is the world’s most successful sales and marketing outsourcing company. Founded in 1975, MarketSource has helped over 200 companies generate $6+ billion in revenue. In my view, what makes them unique is they can hire, train, and deploy inside or field-based sales teams in a matter of weeks, when it takes most companies several months to do the same.
Rick has been with the company for 22 years, and as President is responsible for setting the strategic direction for the company and for extending its market leadership position. Watch as Rick helps his peers at other companies by demonstrating how to set their company’s up for success by selecting the right markets to compete in.
Being in fast-growing markets is the largest driver of revenue growth. Least important is market share growth. Yet, many executive teams tend to focus most of their attention on gaining share in their existing markets. While it is necessary to maintain, and sometimes increase, market share, changing your company’s exposure to growing and shrinking market segments should be a major focus.
Why is this important? Well, if the President does not make this decision, the employees will individually make it, and this will result in conflicting priorities. When not done properly the sales team will be chasing all business instead of the right business. It is the job of the President to make this call so the entire company is rowing in the same direction.
Watch as Rick and I discuss the following eight questions that help you identify how to select the right markets for your business.
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