Understanding RevOps.
Jul 12, 2023
How “every” CanaGlobal portfolio company will reach its first 10M in our venture studio.
When we’re developing a RevOps blueprint to reach our first 10M in revenue, our team knows we’re only “X” meetings away from hitting $833k/mo (10M).
Let’s say we are targeting future B2B customers who can spend 200k annually. With a sales team win rate of 40% we know we need to set 10 sales meetings a month to achieve our goal of 10M.
Now the question is, how will we set those 10 sales meetings a month with our “targeted” audience.
That’s where RevOps comes in. I break RevOps into three actions.
#1 - Demand Generation Campaigns - This is how we will drive awareness/interest to our target audience through inbound and outbound tactics. It’s where 80% of their entire customer journey will take place.
80% of the entire buyer journey will happen online, before we ever meet.
- Inbound - content campaigns (owned, earned, paid & shared)
- Outbound - business development outreach (targeted calls, email campaigns, key partnerships)
#2 - Lead Generation - The demand generation campaign creates …
- an awareness of who we are
- an understanding of what we do
- an interest because we solve a problem that has created pain
- brand/product respect
- brand/product trust
This is where we will convert web traffic/sessions into leads/demos/sales appointments.
#3 - Sales Pipeline - This is the choreographed sales process from lead to close, the 40% win rate. Like a Philadelphia trial attorney, we will establish …
- budget and buy-in
- timing
Don’t overcomplicate RevOps.
But the challenge is to “crack-the-code” in all of the RevOps strategy tactics.
That’s why in yesterday’s post I wrote that my very first step in pursuing the 10M goal is to receive it by faith, first.
Remember, I’m a faith-driven investor/entrepreneur.
Faith says, it’s mine, I have it now.
Faith takes.
I’m not merely hoping I will achieve my goals, I have it NOW.
When we start there are many unknowns we’ll have to navigate through. The strategy, steps and timelines for everything.
It’s easy to get lost in the fog of battle.
So as I said, the very first thing I do is to get in total agreement with the Word of God.
That’s faith.
When it’s mine by faith, I’m trusting 100% in God to manifest EVERY detail and event for the journey.
I’m not merely hoping things will work out, that’s not faith. Faith takes, right now.
See the difference between hope and faith?
Hope is for the future. Faith is for right now.
Let’s change our hope, to faith.
That’s how our venture studio win rate is 10-in-10.
Be in it, to win it, with God.
-Gerald
