Wednesday, July 15, 2015

The myth of the Instant Success

-Deacon Wardlow
I was recently having coffee with some entrepreneurs in Boulder, CO and the topic of "gazelle companies" came up. These are companies who increase their revenue by about 20% every year (doubling in sales/scope every 4-5 years).

There's a myth of "instant success" out there. People hear about an app company being bought for a billion dollars, companies which are competing in the same industry as you "magically" grow their sales to three or four times your level and yet they have the same (or smaller) sized business. What's the "secret sauce" or magic mix involved? The answer is simple: hard work, persistence, creativity, and determination.

The companies I work with who are the most successful are also the most active. They play the numbers game. These companies fill their sales funnel to overflowing acknowledging they may only close on 10 opportunities out of 100 - they opt to quote 1,000+ opportunities. When they can't quote as much, they look at what they're quoting and remove the obstacles for the client to buy their product or service - they take a hard look at why they lose opportunities and fill the holes so the next one wins.

The successful companies are out there, in front of customers as much as they can be. If they're local - they hit the local market so hard every client in a 50 mile radius knows their name, their product/service, and who to call. If they're national you'll note they're heavily marketing online, active in social media, and hitting every tradeshow and event they can to get in front of national clients.

An "overnight" success is rarely anything but. If you feel your business is in a slump and you're confident you could be better - push back to the companies you work with. Don't let vendors just provide product - they should be actively helping you with marketing, sales resources/tools, digital assets for your websites, and partner with you on tradeshows. If your vendor doesn't step up as a partner, take a look around and find someone who will help you grow. Their success is (ultimately) tied to yours. Don't settle for a vendor when you can have a partner.

In business - the market doesn't reward laziness nor will clients come beating down your doors if they don't know where you are. The harder you push and strive, the more you'll see those efforts rewarded. Perhaps you won't win every deal - but the more you're out there - the more deals will ultimately come your way and you to can be an "overnight success" that leaves the competition scratching their heads at how they can stay in business against you.

Note all posts - thoughts - writings- etc. are strictly the viewpoint of me and me alone and do not reflect nor speak for Vantage LED’s beliefs, attitudes, thoughts, etc. unless specifically noted. Direct emails can be sent to for queries and/or assistance.

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