Fly’s Friday Five: Cost Control, Cost Containment, and Building the Top Line of Sales

Written by: Gary Fly
Flys Friday Five

 

Friends, Hello!

It’s Gary Fly with The Brooks Group. I hope you’re well. I’m excited to be with you today and I’m going to talk a little bit about the current state of business. I often use these videos to discuss what we’re thinking about and what sort of challenges we’re working through here at The Brooks Group because I feel like we’re probably like most businesses, and the things we’re thinking about are probably things that many of you all are thinking about.

Over the last few days, we have had a lot of discussions with our leadership team here around cost control and cost containment.  This morning Tracy Baumann, our VP of Brand and Client Engagement, sent me an article by Neal Freyman of Morning Brew and in this article it mentioned some big names, Amazon, Meta, Uber, and all are also really starting to focus in on cost, cost control, and cost containment. It looks like maybe that’s a trend we’re all dealing with.

We are a sales training organization, so I also approach these things by looking at how we improve revenue, not just by containing costs, but actually by building the top line as well. While we’re going through this exercise around cost, I know we are also going through an exercise around building revenue and increasing sales.

I want to share with you the things that we’re doing and hear back from you to see if there’s something I missed or something else you’re doing. Hopefully this will have some value.

1. The first thing we’re really looking at is our pipeline. We’re scrubbing it, we’re creating priority around the deals inside the pipeline, and we are working really hard to understand where we are. Is our pipeline healthy and growing? Is it stagnant or is it dead or dying? We need to really understand where it is at all times, and that is a constant work in progress for us.

2. The second thing is we are ensuring that our sellers are adhering to our methodology. We created and train a methodology and we’re big believers in methodology. This is why:

  • It helps the sellers guide the prospect through the buying cycle.
  • It allows us to coach the sellers because we now have a common vernacular.
  • It ensures that the organization is aligned. Our marketing team is aligned with the sellers through the process.

3. The third thing, and I just mentioned it, but we work hard to ensure the sellers and marketers are aligned. We want the marketing team to be producing collateral that’s appropriate for the current environment. We need the marketing team to understand the buyers and the buyer personas that we’re selling to so that the sellers have collateral pieces that make sense to those buyers. Ensuring alignment between the sellers and marketers is critical. We do that through regular interaction and meetings and through shared KPIs.

4. The fourth thing is to understand what we need to be doing on the strategic account management We all have accounts that are important to us, and hopefully we are being strategic in the way we manage those accounts. We are looking at their previous buying habits, we’re looking at what’s going on inside of their industry, and we’re looking at what’s happening internally inside their company to really understand how we might be of service and of value to them as they navigate these uncharted waters.

5. The last thing that we talk about is creating a pattern interrupt. It’s not business as usual so our team doesn’t need to feel like it’s business as usual. These don’t need to be draconian measures, but things need to be different. So, for example, Josh Winters, our VP of sales is now getting more involved in actual dealmaking including pulling deals across the line. Tracy, who I mentioned earlier, is involved in daily marketing reviews. We do things differently to create, what I call “pattern interrupt.” The team recognizes something is different, we are operating at a different cadence, we’re talking about different information. Again, we’re in uncharted territory in a lot of ways and we need to behave differently than we do in normal times.

So, those are the five things that we’re doing internally. I think the Morning Brew article is interesting and would be happy to answer questions.

I’m always happy to debate. We’d love to hear what you think about this, and please if you’d like more information, feel free to reach out directly to me at gfly@thebrooksgroup.com.

Written By

Gary Fly

Gary Fly is the President & CEO at The Brooks Group, where he brings 25+ years of senior management experience. In his role as President of The Brooks Group, Gary is applying his keen business insights and energetic management style while extending the success and legacy established by William T. Brooks and his sons, Jeb and Will, honed during the company’s rich, 40-plus-year legacy.
Written By

Gary Fly

Gary Fly is the President & CEO at The Brooks Group, where he brings 25+ years of senior management experience. In his role as President of The Brooks Group, Gary is applying his keen business insights and energetic management style while extending the success and legacy established by William T. Brooks and his sons, Jeb and Will, honed during the company’s rich, 40-plus-year legacy.

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