Revenue Management Quotes

A good management style will make the productivity of your employees go up which means your revenues and profits go up as well.

As a business owner, you should be looking at data as a key resource to help you make more informed decisions that ultimately allow you to grow revenues and maximize profits.

From a business perspective, an asset is anything that generates consistent reliable cash flow/revenue. One of the core duties of business management is to nurture business assets to ensure that the business’s income continues and grows perpetually. Because ultimately, assets are what make a business a business.

With managing a business, you need to Invest in good software and or good data mining systems. Run your numbers routinely. Take a look at your revenues - when is the money typically coming in, from where, can you identify any patterns in your revenues? Then take a look at your expenses - analyze the numbers and identify patterns. Why? Because Identifying patterns and extracting actionable items from your revenue and expense data will result in the clarity you need to make good business decisions.

When considering the acquisition of new sources of revenue, the business must account for the costs that must be incurred prior to the acquisition, and the costs associated with the maintenance of that source of revenue.

Businesses frequently prioritize new feature releases over fixing technical debt. They choose to work on revenue-generating work instead of revenue-protection work. This rarely works out as the business hopes, particularly as problems discovered during the final stages of uncompleted projects drag engineers away from the newer projects.

Your USP is never what you think it is. It is what your customer think it is.

the balance between annual profit and investment for future growth is the key. Revenues versus costs is important, but the latter should not be cut merely to meet management bonus targets. There

The obvious definition of a monarchy seems to be that of a state, in which a single person, by whatsoever name he may be distinguished, is entrusted with the execution of the laws, the management of the revenue, and the command of the army. But, unless public liberty is protected by intrepid and vigilant guardians, the authority of so formidable a magistrate will soon degenerate into despotism. The influence of the clergy, in an age of superstition, might be usefully employed to assert the rights of mankind; but so intimate is the connection between the throne and the altar, that the banner of the church has very seldom been seen on the side of the people. A martial nobility and stubborn commons, possessed of arms, tenacious of property, and collected into constitutional assemblies, form the only balance capable of preserving a free constitution against enterprises of an aspiring prince.

Eng8ge is a web marketing services company in Singapore. We help SMEs connect with their customers online, thereby generating more sales opportunities, leading to higher revenue. Our core services comprise web design, GMB optimisation, social media management, PPC advertising, SEO, and online content writing - collectively known as Online Presence Managed Services. Being managed services, customers needn't worry about on-going support and maintenance as we'll take care of them.

To say now that the negative results of globalization are simply Destiny is to say that a whole new round of social divisions and violence is also our Destiny. In other words, the collapsing job market, slipping standards of living, the loss of fair regulations, the evaporation of big business tax revenues and the weakening of social programs are inevitable and so we must begin the endless, sterile battles of social division all over again. (IV - From Managers and Speculators to Growth)

The revenue derived from labour is called wages; that derived from stock, by the person who manages or employs it, is called profit; that derived from it by the person who does not employ it himself, but lends it to another, is called the interest or the use of money.

For the existing enterprise, whether business or public-service institution, the controlling word in the term ‘entrepreneurial management’ is ‘entrepreneurial’. For the new venture, it is ‘management’. In the existing business, it is the existing that is the main obstacle to entrepreneurship. In the new venture, it is its absence. The new venture has an idea. It may have a product or a service. It may even have sales, and sometimes quite a substantial volume of them. It surely has costs. And it may have revenues and even profits. What it does not have is a ‘business’, a viable, operating, organized ‘present’ in which people know where they are going, what they are supposed to do, and what the results are or should be. But unless a new venture develops into a new business and makes sure of being ‘managed’, it will not survive no matter how brilliant the entrepreneurial idea, how much money it attracts, how good its products, nor even how great the demand for them.

Many people are bothered about the number of privately owned guns in the United States, but what about publicly owned ones? In recent years the United States government (not the military) has purchased 1.6 billion rounds of ammunition, enough to shoot the entire population five times over. The Social Security Administration ordered 174,000 rounds of hollow-point bullets. The Internal Revenue Service, the Department of Education, the Bureau of Land Management, even the National Oceanographic and Atmospheric Administration, all have guns.

It is unlike the industrial era, when corporations depended on people with a wide range of skills: managers and marketers, engineers and technicians, warehouse workers and salespeople. These jobs were often unionized, at least in the manufacturing and energy sectors, so that upper management was compelled at least to consider diverse views on how the business should operate. In contrast, tech firms are rarely unionized, and none of the largest internet-based firms are.7 Crucially, the tech giants employ relatively few people in proportion to their revenues.

many of these giants seem to have adopted the business model of “attention merchants.”2 They capture our attention by providing us with free information, services, and entertainment, and they then resell our attention to advertisers. Yet the data giants probably aim far higher than any previous attention merchant. Their true business isn’t to sell advertisements at all. Rather, by capturing our attention they manage to accumulate immense amounts of data about us, which is worth more than any advertising revenue. We aren’t their customers—we are their product.

The customer is also at the center of how we analyze and manage performance metrics. Our emphasis is on what we call controllable input metrics, rather than output metrics. Controllable input metrics (e.g., reducing internal costs so you can affordably lower product prices, adding new items for sale on the website, or reducing standard delivery time) measure the set of activities that, if done well, will yield the desired results, or output metrics (such as monthly revenue and stock price). We detail these metrics as well as how to discover and track them in chapter six.

The race to obtain the data is already on, headed by data-giants such as Google, Facebook, Baidu and Tencent. So far, many of these giants seem to have adopted the business model of ‘attention merchants’.2 They capture our attention by providing us with free information, services and entertainment, and they then resell our attention to advertisers. Yet the data-giants probably aim far higher than any previous attention merchant. Their true business isn’t to sell advertisements at all. Rather, by capturing our attention they manage to accumulate immense amounts of data about us, which is worth more than any advertising revenue. We aren’t their customers – we are their product.

GET BEYOND THE ONE-MAN SHOW Great organizations are never one-man operations. There are 22 million licensed small businesses in America that have no employees. Forbes suggests 75 percent of all businesses operate with one person. And the average income of those companies is a sad $44,000. That’s not a business—that’s torture. That is a prison where you are both the warden and the prisoner. What makes a person start a business and then be the only person who works there? Are they committed to staying small? Or maybe an entrepreneur decides that because the talent pool is so poor, they can’t hire anyone who can do it as well as them, and they give up. My guess is the latter: Most people have just given up and said, “It’s easier if I just do it myself.” I know, because that’s what I did—and it was suicidal. Because my business was totally dependent on me and only me, I was barely able to survive, much less grow, for the first ten years. Instead I contracted another company to promote my seminars. When I hired just one person to assist me out of my home office, I thought I was so smart: Keep it small. Keep expenses low. Run a tight ship. Bigger isn’t always better. These were the things I told myself to justify not growing my business. I did this for years and even bragged about how well I was doing on my own. Then I started a second company with a partner, a consulting business that ran parallel to my seminar business. This consulting business quickly grew bigger than my first business because my partner hired people to work for us. But even then I resisted bringing other people into the company because I had this idea that I didn’t want the headaches and costs that come with managing people. My margins were monster when I had no employees, but I could never grow my revenue line without killing myself, and I have since learned that is where all my attention and effort should have gone. But with the efforts of one person and one contracted marketing company, I could expand only so much. I know that a lot of speakers and business gurus run their companies as one-man shows. Which means that while they are giving advice to others about how to grow a business, they may have never grown one themselves! Their one-man show is simply a guy or gal going out, collecting a fee, selling time and a few books. And when they are out speaking, the business terminates all activity. I started studying other people and companies that had made it big and discovered they all had lots of employees. The reality is you cannot have a great business if it’s just you. You need to add other people. If you don’t believe me, try to name one truly great business that is successful, ongoing, viable, and growing that doesn’t have many people making it happen. Good luck. Businesses are made of people, not just machines, automations, and technology. You need people around you to implement programs, to add passion to the technology, to serve customers, and ultimately to get you where you want to go. Consider the behemoth online company Amazon: It has more than 220,000 employees. Apple has more than 100,000; Microsoft has around the same number. Ernst & Young has more than 200,000 people. Apple calls the employees working in its stores “Geniuses.” Don’t you want to hire employees deserving of that title too? Think of how powerful they could make your business.

Trump wanted to know what the new individual income tax rates would be. “I like these big round numbers,” he said. “Ten percent, 20 percent, 25 percent.” Good, solid numbers that would be easy to sell. Mnuchin, Cohn and Office of Management and Budget Director Mick Mulvaney said there needed to be analysis, study and discussion on the impact on revenue, the deficit and the relation to expected federal spending. “I want to know what the numbers are going to be,” Trump said, throwing out numbers again. “I think they ought to be 10, 20 and 25.” He dismissed any effort to crunch the numbers. A small change in rates could have a surprising impact on taxes collected by the U.S. Treasury. “I don’t care about any of that,” Trump said. Solid, round numbers were key. “That’s what people can understand,” he said. “That’s how I’m going to sell it.

Revenue Multiples. In the section on myths we also discussed the problems associated with revenue multiples and why they are poor indicators of value. Multiples of revenues are bogus for four reasons. First, because the range of multiples is too wide to be useful. Second, because comparisons using the multiple are simply not valid. Just because one company sold for a certain multiple of revenue does not mean that another company will sell for that same multiple, even if the companies are similar. Third, revenue multiples do not consider cost structures, management talent, pricing, profitability, or growth. And fourth is the problem of narrow markets; there are only a limited number of strategic buyers who can benefit from the seller’s key assets. These buyers care only about the strategic fit with their company, not some revenue multiple. WHAT

Who cheats? Well, just about anyone, if the stakes are right. You might say to yourself, I don’t cheat, regardless of the stakes. And then you might remember the time you cheated on, say, a board game. Last week. Or the golf ball you nudged out of its bad lie. Or the time you really wanted a bagel in the office break room but couldn’t come up with the dollar you were supposed to drop in the coffee can. And then took the bagel anyway. And told yourself you’d pay double the next time. And didn’t. For every clever person who goes to the trouble of creating an incentive scheme, there is an army of people, clever and otherwise, who will inevitably spend even more time trying to beat it. Cheating may or may not be human nature, but it is certainly a prominent feature in just about every human endeavor. Cheating is a primordial economic act: getting more for less. So it isn’t just the boldface names — inside-trading CEOs and pill-popping ballplayers and perkabusing politicians — who cheat. It is the waitress who pockets her tips instead of pooling them. It is the Wal-Mart payroll manager who goes into the computer and shaves his employees’ hours to make his own performance look better. It is the third grader who, worried about not making it to the fourth grade, copies test answers from the kid sitting next to him. Some cheating leaves barely a shadow of evidence. In other cases, the evidence is massive. Consider what happened one spring evening at midnight in 1987: seven million American children suddenly disappeared. The worst kidnapping wave in history? Hardly. It was the night of April 15, and the Internal Revenue Service had just changed a rule. Instead of merely listing the name of each dependent child, tax filers were now required to provide a Social Security number. Suddenly, seven million children — children who had existed only as phantom exemptions on the previous year’s 1040 forms — vanished, representing about one in ten of all dependent children in the United States.

FOCUS ON GENERATING REVENUE THE DOJ FOUND THAT virtually every branch and tributary of the city’s bureaucracy—the mayor, city council, city manager, finance director, municipal court judge, municipal court prosecutor, court clerk, assistant clerks, police chief—all were enmeshed in an unending race to raise revenue through municipal fines and fees:            City officials routinely urge Chief [Tom] Jackson to generate more revenue through enforcement. In March 2010, for instance, the City Finance Director wrote to Chief Jackson that “unless ticket writing ramps up significantly before the end of the year, it will be hard to significantly raise collections next year. . . . Given that we are looking at a substantial sales tax shortfall, it’s not an insignificant issue.” Similarly, in March 2013, the Finance Director wrote to the City Manager: “Court fees are anticipated to rise about 7.5%. I did ask the Chief if he thought the PD [police department] could deliver 10% increase. He indicated they could try.” The importance of focusing on revenue generation is communicated to FPD officers. Ferguson police officers from all ranks told us that revenue generation is stressed heavily within the police department, and that the message comes from City leadership. The evidence we reviewed supports this perception.

Hamilton argued that the security of liberty and property were inseparable and that governments should honor their debts because contracts formed the basis of public and private morality: “States, like individuals, who observe their engagements are respected and trusted, while the reverse is the fate of those who pursue an opposite conduct.”The proper handling of government debt would permit America to borrow at affordable interest rates and would also act as a tonic to the economy. Used as loan collateral, government bonds could function as money—and it was the scarcity of money, Hamilton observed, that had crippled the economy and resulted in severe deflation in the value of land. America was a young country rich in opportunity. It lacked only liquid capital, and government debt could supply that gaping deficiency. The secret of managing government debt was to fund it properly by setting aside revenues at regular intervals to service interest and pay off principal. Hamilton refuted charges that his funding scheme would feed speculation. Quite the contrary: if investors knew for sure that government bonds would be paid off, the prices would not fluctuate wildly, depriving speculators of opportunities to exploit. What mattered was that people trusted the government to make good on repayment: “In nothing are appearances of greater moment than in whatever regards credit. Opinion is the soul of it and this is affected by appearances as well as realities.” Hamilton intuited that public relations and confidence building were to be the special burdens of every future treasury secretary.

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Success comes with an inevitable problem: market saturation. New products initially grow just by adding more customers—to grow a network, add more nodes. Eventually this stops working because nearly everyone in the target market has joined the network, and there are not enough potential customers left. From here, the focus has to shift from adding new customers to layering on more services and revenue opportunities with existing ones. eBay had this problem in its early years, and had to figure its way out. My colleague at a16z, Jeff Jordan, experienced this himself, and would often write and speak about his first month as the general manager of eBay’s US business. It was in 2000, and for the first time ever, eBay’s US business failed to grow on a month-over-month basis. This was critical for eBay because nearly all the revenue and profit for the company came from the US unit—without growth in the United States, the entire business would stagnate. Something had to be done quickly. It’s tempting to just optimize the core business. After all, increasing a big revenue base even a little bit often looks more appealing than starting at zero. Bolder bets are risky. Yet because of the dynamics of market saturation, a product’s growth tends to slow down and not speed up. There’s no way around maintaining a high growth rate besides continuing to innovate. Jeff shared what the team did to find the next phase of growth for the company: eBay.com at the time enabled the community to buy and sell solely through online auctions. But auctions intimidated many prospective users who expressed preference for the ease and simplicity of fixed price formats. Interestingly, our research suggested that our online auction users were biased towards men, who relished the competitive aspect of the auction. So the first major innovation we pursued was to implement the (revolutionary!) concept of offering items for a fixed price on ebay.com, which we termed “buy-it-now.” Buy-it-now was surprisingly controversial to many in both the eBay community and in eBay headquarters. But we swallowed hard, took the risk and launched the feature . . . and it paid off big. These days, the buy-it-now format represents over $40 billion of annual Gross Merchandise Volume for eBay, 62% of their total.65

The successful individual sales producer wins by being as selfish as possible with her time. The more often the salesperson stays away from team members and distractions, puts her phone on Do Not Disturb (DND), closes her door, or chooses to work for a few hours from the local Panera Bread café, the more productive she’ll likely be. In general, top producers in sales tend to exhibit a characteristic I’ve come to describe as being selfishly productive. The seller who best blocks out the rest of the world, who maintains obsessive control of her calendar, who masters focusing solely on her own highest-value revenue-producing activities, who isn’t known for being a “team player,” and who is not interested in playing good corporate citizen or helping everyone around her, is typically a highly effective seller who ends up on top of the sales rankings. Contrary to popular opinion, being selfish is not bad at all. In fact, for an individual contributor salesperson, it is a highly desirable trait and a survival skill, particularly in today’s crazed corporate environment where everyone is looking to put meetings on your calendar and take you away from your primary responsibilities! Now let’s switch gears and look at the sales manager’s role and responsibilities. How well would it work to have a sales manager who kept her office phone on DND and declined almost every incoming call to her mobile phone? Do we want a sales manager who closes her office door, is concerned only about herself, and is for the most part inaccessible? No, of course not. The successful sales manager doesn’t win on her own; she wins through her people by helping them succeed. Think about other key sales management responsibilities: Leading team meetings. Developing talent. Encouraging hearts. Removing obstacles. Coaching others. Challenging data, false assumptions, wrong attitudes, and complacency. Pushing for more. Putting the needs of your team members ahead of your own. Hmmm. Just reading that list again reminds me why it is often so difficult to transition from being a top producer in sales into a sales management role. Aside from the word sales, there is truly almost nothing similar about the positions. And that doesn’t even begin to touch on corporate responsibilities like participating on the executive committee, dealing with human resources compliance issues, expense management, recruiting, and all the other burdens placed on the sales manager. Again,

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The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” George Bernard Shaw On a cool fall evening in 2008, four students set out to revolutionize an industry. Buried in loans, they had lost and broken eyeglasses and were outraged at how much it cost to replace them. One of them had been wearing the same damaged pair for five years: He was using a paper clip to bind the frames together. Even after his prescription changed twice, he refused to pay for pricey new lenses. Luxottica, the 800-pound gorilla of the industry, controlled more than 80 percent of the eyewear market. To make glasses more affordable, the students would need to topple a giant. Having recently watched Zappos transform footwear by selling shoes online, they wondered if they could do the same with eyewear. When they casually mentioned their idea to friends, time and again they were blasted with scorching criticism. No one would ever buy glasses over the internet, their friends insisted. People had to try them on first. Sure, Zappos had pulled the concept off with shoes, but there was a reason it hadn’t happened with eyewear. “If this were a good idea,” they heard repeatedly, “someone would have done it already.” None of the students had a background in e-commerce and technology, let alone in retail, fashion, or apparel. Despite being told their idea was crazy, they walked away from lucrative job offers to start a company. They would sell eyeglasses that normally cost $500 in a store for $95 online, donating a pair to someone in the developing world with every purchase. The business depended on a functioning website. Without one, it would be impossible for customers to view or buy their products. After scrambling to pull a website together, they finally managed to get it online at 4 A.M. on the day before the launch in February 2010. They called the company Warby Parker, combining the names of two characters created by the novelist Jack Kerouac, who inspired them to break free from the shackles of social pressure and embark on their adventure. They admired his rebellious spirit, infusing it into their culture. And it paid off. The students expected to sell a pair or two of glasses per day. But when GQ called them “the Netflix of eyewear,” they hit their target for the entire first year in less than a month, selling out so fast that they had to put twenty thousand customers on a waiting list. It took them nine months to stock enough inventory to meet the demand. Fast forward to 2015, when Fast Company released a list of the world’s most innovative companies. Warby Parker didn’t just make the list—they came in first. The three previous winners were creative giants Google, Nike, and Apple, all with over fifty thousand employees. Warby Parker’s scrappy startup, a new kid on the block, had a staff of just five hundred. In the span of five years, the four friends built one of the most fashionable brands on the planet and donated over a million pairs of glasses to people in need. The company cleared $100 million in annual revenues and was valued at over $1 billion. Back in 2009, one of the founders pitched the company to me, offering me the chance to invest in Warby Parker. I declined. It was the worst financial decision I’ve ever made, and I needed to understand where I went wrong.

The Sales Manager Question That Changes Everything How will this customer be different as a result of doing business with us?

What Do the Results of a Successful Tour of Duty Look Like for the Company? A successful mission objective delivers results for the company for either quantitative or qualitative goals, such as launching a new product line and generating a certain dollar amount in first-year revenues, or achieving thought leadership in a specific market category, as measured by the writings of industry analysts. At LinkedIn, for example, managers ask, “How will the company be transformed by this employee?” What Do the Results of

With federal and state money drying up, research universities are increasingly trying to monetize their own intellectual property for revenue. In 2012, universities collectively generated $2.6 billion from their patents, a 6.8 percent jump from the previous year, according to the Association of University Technology Managers. Napolitano, of course, knows all of this. The University of California, especially its Berkeley and Los Angeles campuses, includes some of the biggest players in converting research into licensing fees and startups that might go public or be acquired. Witness the uptick in university-run incubators in the Bay Area. But someone must do the research that leads to those technologies that eventually hit the market, she said. When Napolitano first joined the University of California, one of her top priorities was to increase efficiency - to do more with less. But over time she came to realize that research is anything but efficient. But that's a good thing. "The grace note of basic research is failure," Napolitano said. "It's what doesn't work that leads to unexpected breakthroughs." There is nothing inherently wrong with seeking profit from innovation. But we must first understand that innovation starts when scientists ask how and why. Basic research "is where the action is," she said.

Establishment of a quarterly rolling planning regime, wherein management both sets out its revenue and expenditure requirements for the next 18 months and seeks approval for expenditure planned for the next 3 months, is a key requirement for beyond budgeting management. Each quarter, before approving these estimates, management sees the bigger picture six quarters out. While firming up the short-term numbers for the next three months, all subsequent forecasts also update the annual forecast. Budget holders are encouraged to spend half the time on getting the details of the next three months right, as these will become targets, on agreement, and the rest of the time on the next five quarters. Each quarter

The knights performed their feats with very little planning and rarely did their post-feat paperwork, but they made up for these shortcomings with their fearlessness, their strength, and their energy. The king was also lucky to have a very good prime minister. The minister saw that taxes were collected, that the majority of the revenues were wisely spent to improve the kingdom, and that the excess monies were well managed. One day the prime minister died, and the king asked his bravest and most fearless knight to be the new minister. Unfortunately, the knight chosen for the job liked jumping on his white charger more than he liked caring for the affairs of the kingdom. He continued to gallop off to slay dragons whenever he had the opportunity and neglected tax collections, investments, improvements, and repairs. After only a short time, the king ran out of money, the peasants ran out of patience, and the kingdom collapsed.

Guideline #5: Select your vocabulary with meticulous care. Did you increase sales or orchestrate explosive growth in revenues? Did you provide good levels of customer service or unparalleled levels of quality customer service? As a receptionist, did you merely greet people, or were you the manager of first impressions? Are you a good problem solver, or can you resolve complex technical issues professionally and expeditiously? Words are power, and keywords and phrases are powerful agents for eliciting the right emotions to enthusiastically engage prospective employers to want to read your document. Well-chosen words can be the difference between an interview and a missed opportunity, so select your words and messages with painstaking precision.

used to scorn this, seeing their human judgment as irreplaceable. Now, says Jiri Stejskal of the American Translators’ Association, it has won respectability. Technological change has not brought consolidation to a fragmented industry, however. Lionbridge, which has the largest disclosed revenues ($489m in 2013), makes much of its money from services other than translation. Like most of its rivals, Lionbridge talks up technology, but is fairly traditional. The heart of the business is managing projects, acting as a go-between for customers and freelance translators on jobs like managing file formats and locations, client reviews and so forth. Tedious project-management tasks like these may offer scope for disruptive

A no-nonsense management model: Choose people carefully Set expectations and vision Remove obstacles Inspire your people Work for your people Improve it next time

GOOD PRODUCT MANAGER/BAD PRODUCT MANAGER Good product managers know the market, the product, the product line, and the competition extremely well and operate from a strong basis of knowledge and confidence. A good product manager is the CEO of the product. Good product managers take full responsibility and measure themselves in terms of the success of the product. They are responsible for right product/right time and all that entails. A good product manager knows the context going in (the company, our revenue funding, competition, etc.), and they take responsibility for devising and executing a winning plan (no

One way to encourage innovation to flourish outside the normal planning cycles is to reserve pools of special funds for unexpected opportunities. That way, promising ideas do not have to wait for the next budget cycle, and innovators do not have to beg for funds from mainstream managers who are measured on current revenues and profits.

Despite initial enthusiasm from Page’s distributors, as an overall category, innerwear remained a low-profile product in retail stores. This would ultimately necessitate a high-pitched, pan-India advertising campaign from Page, but the costs were prohibitive. Competitive intensity from incumbents had already increased substantially during 1995–2000. When the company reached sales of Rs 21 crore in FY2000, Rupa and Maxwell were already at Rs 150 crore each. One level above them, in the mid-premium segment, brands like Liberty, Libertina and Tantex (TTK Tantex) were firmly ensconced. Associated Apparels (Liberty and Libertina) reported sales of Rs 100 crore during the same period. In a stroke of luck for Page, both TTK Tantex and Associated Apparels fell prey to labour strikes. TTK Tantex saw labour-related plant shutdowns in 1997 that lasted for two years, sending the company’s revenues into a steady descent (see Exhibit 55). The TTK Group had twenty companies across many sectors and, due to lack of management bandwidth to handle the crisis, sold the innerwear brand in FY02. In the same year, Associated Apparels had a labour strike in one of its factories that disrupted its supply chain. The exit of both TTK Tantex and the crippling of Associated Apparels played into Page’s hands as all the large innerwear retailers (dealers) in northern and western India shifted to Jockey.

As a central distributor of goods, the welfare state necessitates high levels of taxation, and it must institute extensive programmes of economic regulation in order to ensure that sufficient tax revenue is generated. Excessive taxation, consequently, always occurs where the political system inadequately manages its ‘opening and restriction’ towards the economy, and where it assumes co-ordinating power in influencing the economic conditions in which citizens live. High-level taxation, however, inevitably leads to economic problems – to problems registered in the medium of money, but caused by the medium of power. These problems might, for instance, take the form of possible underproduction, flight of capital, loss of investment potential, or increasing prices, imbalances in the relation of supply and demand in the private economy, difficulties in the circulation of capital, worsening international competitiveness of firms, or excessive regulation of available capital by central banks. All such tendencies, in Luhmann’s view, characterize societies which are drifting away from the ideal condition of realized plural differentiation towards a more authoritarian (less differentiated) mode of political economy.

you are creating a product, so maximize the revenue from your product by selling it simultaneously to as many different venues as possible,

Later, as banks began to improve their balance sheets, several attempted to pay back their government loans. The Obama administration refused to accept the money, on the grounds that banks would first have to pass a “stress test.” Of course the “stress test” was simply a way for the government to maintain control of those banks. So if banks gained by getting free money, and the government gained by extending control over the financial sector, who lost? The taxpayer! The taxpayer was the sucker in this whole transaction. His money stood guarantee for the depositors and investors and bank officials who had taken risks and made bad loans and were now facing crippling losses. Instead of them suffering, the taxpayer suffered. And who raided the Treasury and stuck the taxpayer with this bill that was not the taxpayer’s bill to pay? The very federal government that is responsible for managing the Treasury and protecting the revenues provided by the taxpayer.

Today, at twenty-five, Travis is the manager of two Starbucks where he oversees forty employees and is responsible for revenues exceeding $2 million per year. His salary is $44,000 and he has a 401(k) and no debt. He’s never late to work.

regulations, wastewater was managed in treatment facilities and no longer dumped into streams. Thus, the cost of pollution was captured in the cost of oil production. indeed, clean water from these treatment facilities was sold to nearby farmers for irrigation. on the other hand, these new technologies spewed large amounts of pollutants into the air. That air pollution was viewed as a cost of doing business; its environmental costs were ignored. oil prices collapsed in the 1980s. at the same time, air-quality regulations were becoming stiffer. operations at the Kern river oil field were again tenuous. yet once again, technological innovation provided a fix. oil companies built facilities to generate electricity that were fueled by natural gas, which burns cleaner than oil. This electricity was a source of revenue. The electric facilities also supplied steam that was used to increase production from the wells. in 2000, the Kern river oil field produced nearly 40 million barrels of oil. however, this level of production could not be sustained. since then, production has fallen to less than 30 million barrels each year (Figure 15.3). since 1899, over 2 billion barrels of oil have been extracted from the Kern river oil field. scientists estimate that this field could yield another 475 million barrels. But actually producing that much oil will depend on continuing improvements in technology and high oil prices. like many of the resources upon which we depend, oil is being consumed by humans at a rate that is thousands of times faster than the rate at which it is being produced. What are the factors that influence the total amounts of such resources? how do technology and economic factors affect the availability of those resources? What are the environmental consequences of their use? These questions are central to

Foundation managers need to keep the message of O.P.M. in mind in more than one way. Of course, the money they spend is other people’s money because it came originally from one or more donors. But it is also other people’s money to the extent that taxpayers shoulder part of the cost of the foregone revenue from the capital and income earned on that capital through the tax breaks that foundations enjoy. For this reason, the taxpayers, too, have an interest in how wisely and well foundation money is spent. Thus, the general public has a real, tangible, even proprietary interest in a foundation’s deployment of its assets and in all of the ways it makes its decisions.

The only thing that we know about financial predictions of startups is that 100 percent of them are wrong. If you can predict the future accurately, we have a few suggestions for other things you could be doing besides starting a risky early stage company. Furthermore, the earlier stage the startup, the less accurate any predications will be. While we know you can't predict your revenue with any degree of accuracy (although we are always very pleased in that rare case where revenue starts earlier and grows faster than expected), the expense side of your financial plan is very instructive as to how you think about the business. You can't predict your revenue with any level of precision, but you should be able to manage your expenses exactly to plan. Your financials will mean different things to different investors. In our case, we focus on two things: (1) the assumptions underlying the revenue forecast (which we don't need a spreadsheet for—we'd rather just talk about them) and (2) the monthly burn rate or cash consumption of the business. Since your revenue forecast will be wrong, your cash flow forecast will be wrong. However, if you are an effective manager, you'll know how to budget for this by focusing on lagging your increase in cash spend behind your expected growth in revenue.

Government officials, who work honestly in fulfilling their duties, who do not do corruption and work towards collecting revenues and righteous management of state money are favourable of king. Such officials should be given promotion and salary hikes.

We've found, empirically, that long-term revenue growth—particularly organic revenue growth—is the most important driver of shareholder returns for companies with high returns on capital.

Though the early growth in Botswana relied on meat exports, things changed dramatically when diamonds were discovered. The management of natural resources in Botswana also differed markedly from that in other African nations. During the colonial period, the Tswana chiefs had attempted to block prospecting for minerals in Bechuanaland because they knew that if Europeans discovered precious metals or stones, their autonomy would be over. The first big diamond discovery was under Ngwato land, Seretse Khama’s traditional homeland. Before the discovery was announced, Khama instigated a change in the law so that all subsoil mineral rights were vested in the nation, not the tribe. This ensured that diamond wealth would not create great inequities in Botswana. It also gave further impetus to the process of state centralization as diamond revenues could now be used for building a state bureaucracy and infrastructure and for investing in education. In Sierra Leone and many other sub-Saharan African nations, diamonds fueled conflict between different groups and helped to sustain civil wars, earning the label Blood Diamonds for the carnage brought about by the wars fought over their control. In Botswana, diamond revenues were managed for the good of the nation.

Chris Argyris, professor emeritus at Harvard Business School, wrote a lovely article in 1977,191 in which he looked at the performance of Harvard Business School graduates ten years after graduation. By and large, they got stuck in middle management, when they had all hoped to become CEOs and captains of industry. What happened? Argyris found that when they inevitably hit a roadblock, their ability to learn collapsed: What’s more, those members of the organization that many assume to be the best at learning are, in fact, not very good at it. I am talking about the well-educated, high-powered, high-commitment professionals who occupy key leadership positions in the modern corporation.… Put simply, because many professionals are almost always successful at what they do, they rarely experience failure. And because they have rarely failed, they have never learned how to learn from failure.… [T]hey become defensive, screen out criticism, and put the “blame” on anyone and everyone but themselves. In short, their ability to learn shuts down precisely at the moment they need it the most.192 [italics mine] A year or two after Wave, Jeff Huber was running our Ads engineering team. He had a policy that any notable bug or mistake would be discussed at his team meeting in a “What did we learn?” session. He wanted to make sure that bad news was shared as openly as good news, so that he and his leaders were never blind to what was really happening and to reinforce the importance of learning from mistakes. In one session, a mortified engineer confessed, “Jeff, I screwed up a line of code and it cost us a million dollars in revenue.” After leading the team through the postmortem and fixes, Jeff concluded, “Did we get more than a million dollars in learning out of this?” “Yes.” “Then get back to work.”193 And it works in other settings too. A Bay Area public school, the Bullis Charter School in Los Altos, takes this approach to middle school math. If a child misses a question on a math test, they can try the question again for half credit. As their principal, Wanny Hersey, told me, “These are smart kids, but in life they are going to hit walls once in a while. It’s vital they master geometry, algebra one, and algebra two, but it’s just as important that they respond to failure by trying again instead of giving up.” In the 2012–2013 academic year, Bullis was the third-highest-ranked middle school in California.194

The New York Times was offered a deal with Amazon during the 1990s. It would have transformed the economics of the paper and delivered billions of dollars in revenue over time. According to former CFO Diane Baker, senior management turned it down. They were worried that they would upset Barnes & Noble, which at the time was a big advertiser. Management had nostalgia for a future with steady increases in their current business, and felt threatened by a radical shift in that future.

La Méthode Ka est une alternative informelle à la gestion de projets entrepreneuriaux par la structuration en unité administratives et économiques composites d’acquisition de revenu pour la fréquentation de la communauté. Ces unités sont appelées Ka. Elle a recours à une philosophie du réalisme vis-à-vis du Temps par le Lean dans l’intention, l’apprentissage informel de l’environnement financier et l’adaptation au marché* par l’Agilité dans la Stratégie. Le tout contribue à enrichir les résultats du management interculturel. *L’économie de communauté entretient des échanges avec l’économie de marché par la qualité (zone de modération)

But the most engaging part of the planning process should be having people figure out how they’ll achieve their OKRs. OKRs have to be aggressive enough so that people don’t quite know how to reach them at the start of the journey. Even if they have an idea of what they should do, there must be a chance of the OKR not being hit. For example, let’s say your company needs to grow 25% in revenues in a given quarter. How the company will hit that goal is going to be a matter of great thinking and creativity. The journey starts with analyzing the data to understand pockets of opportunity. Where can the sales process be improved? Where is there breakage in the sales process? Where are the low hanging fruits? Let’s say this analysis shows that salespeople have too few leads and therefore need more leads to work on. You then calculate that at your recent-past conversion rates, you’d need to grow leads by 100% in order to grow sales by 25%. That’s the first hypothesis. So you unfold a “grow the number of leads” Objective to marketing and a Key Result of “generate 15,000 more inbound leads quarter-on-quarter.” Of course, there’s a chance that growing leads won’t result in more sales. Getting it right is good management and good thinking.

Like spacecraft that pick up speed as they rise into the Earth’s stratosphere, growth stocks often seem to defy gravity. Let’s look at the trajectories of three of the hottest growth stocks of the 1990s: General Electric, Home Depot, and Sun Microsystems. (See Figure 7-1.) In every year from 1995 through 1999, each grew bigger and more profitable. Revenues doubled at Sun and more than doubled at Home Depot. According to Value Line, GE’s revenues grew 29%; its earnings rose 65%. At Home Depot and Sun, earnings per share roughly tripled. But something else was happening—and it wouldn’t have surprised Graham one bit. The faster these companies grew, the more expensive their stocks became. And when stocks grow faster than companies, investors always end up sorry. As Figure 7-2 shows: A great company is not a great investment if you pay too much for the stock. The more a stock has gone up, the more it seems likely to keep going up. But that instinctive belief is flatly contradicted by a fundamental law of financial physics: The bigger they get, the slower they grow. A $1-billion company can double its sales fairly easily; but where can a $50-billion company turn to find another $50 billion in business? Growth stocks are worth buying when their prices are reasonable, but when their price/earnings ratios go much above 25 or 30 the odds get ugly: Journalist Carol Loomis found that, from 1960 through 1999, only eight of the largest 150 companies on the Fortune 500 list managed to raise their earnings by an annual average of at least 15% for two decades.

Unfortunately, companies that become large and successful find that maintaining growth becomes progressively more difficult. The math is simple: A $40 million company that needs to grow profitably at 20 percent to sustain its stock price and organizational vitality needs an additional $8 million in revenues the first year, $9.6 million the following year, and so on; a $400 million company with a 20 percent targeted growth rate needs new business worth $80 million in the first year, $96 million in the next, and so on; and a $4 billion company with a 20 percent goal needs to find $800 million, $960 million, and so on, in each successive year.

Companies whose investment processes demand quantification of market sizes and financial returns before they can enter a market get paralyzed or make serious mistakes when faced with disruptive technologies. They demand market data when none exists and make judgments based upon financial projections when neither revenues or costs can, in fact, be known. Using planning and marketing techniques that were developed to manage sustaining technologies in the very different context of disruptive ones is an exercise in flapping wings.

The partnership culture gave way to a bonus culture, in which employees felt free to take huge risks with other people’s money in order to generate revenue and big bonuses. Risk management on Wall Street [became] a farce, with risk managers being steamrolled by bankers, traders, and executives focused nearly exclusively on maximizing annual profits—and the size of their annual bonuses.

pay as you go by earning revenue and managing every dime as if it were a dollar.

Labor also dominates stories of elite income at the next rung down. Although only three hedge fund managers took home over $1 billion in 2017, more than twenty-five took home $100 million or more, and $10 million incomes are so common that they do not make the papers. Even only modestly elite finance workers now receive huge paydays. According to one survey, a portfolio manager at a midsized hedge fund makes on average $2.4 million, and average Wall Street bonuses exploded from roughly $14,000 in 1985 to more than $180,000 in 2017, a year in which the average total salary for New York City’s 175,000 securities industry workers reached over $420,000. These sums reflect the fact that a typical investment bank disburses roughly half of its revenues after interest paid to its professional workers (making it a better three decades to be an elite banker than to be an owner of bank stocks). Elite managers in the real economy also do well. CEO incomes—the wages paid to top managerial labor—regularly reach seven figures; indeed, the average 2017 income of the CEO of an S&P 500 company was nearly $14 million. In a typical recent year the total compensation paid to the five highest-paid employees of each S&P 1500 firm (7,500 workers overall) might amount to 10 percent of S&P 1500 firms’ collective profits. These workers do not own the assets—the portfolios or the companies—that they manage. Their incomes constitute wages paid for managerial labor rather than a return on invested capital. The enormous paydays reflect what prominent business analysts recently called a war between talent and capital—a war that talent is winning.

Jack’s secret is not just to reward people for their profit contribution in the “great game of business.” It’s to put real numbers right in workers’ faces so they make better decisions every minute, every day, for every customer. I would go one step further, and maybe Jack already has. I would give employees a minor share in the overall company, but I would also then use software to measure each individual’s or team’s contributions after fair overhead allocations and direct costs. This would mean the back-line “servers” have fair revenue recognition of their efforts on behalf of the front-line “browsers” who actually serve the end customers. Is this not possible in a light-speed world of software and business metrics? We need more real business leaders and visionaries like Jack Stack, not BS Wall Street leverage artists or old-line corporate managers who merely streamline their top-down management systems while their workers wait for their unfunded retirement and death. And we need real educators, like Neil deGrasse Tyson, who can make science understandable to everyday people. Most of all, we need people to love what they do so much that they won’t even think of retiring at age 63 or 65 or even 75. They’re so productive and happy that they don’t worry about a retirement that doesn’t make sense to them anymore, though it’s there if they have health challenges. They’re too busy satisfying their customers and creating new businesses to contemplate life without that fulfillment. They’re so focused on what they do that they’re like the champion basketball player who’s totally “in state” and one with his process. They’re certainly not bored or waiting to retire and do nothing!

There’s one other area you’ve got to protect your people from. When things get tough, the very first finger-pointing is always aimed toward sales. After all, sales is responsible for producing revenue, and if sufficient revenue isn’t being produced, the decline must be a sales problem. Sometimes it is. And if that’s the case, own up to it and fix it—that’s your job. But sometimes it’s not. And most of the time things are rarely so simple. Don’t make excuses, but never let your team take the blame for things they aren’t responsible for, or that are completely out of their control.

When everyone follows their process, it’s much easier for managers to manage, troubleshoot, identify and solve issues, and therefore grow the business. The clear lines of process enable you to let go and gain more control. Your business now becomes more scalable, which means that you can add more customers, transactions, revenue, and employees while reducing complexity.

Because these 4% of activities literally bring in 64% of all the revenue for my business, I hired an operations manager and other team leaders to do all the other things that don’t move the money needle.

Xerox had an attractive financial model focused on leasing and servicing machines and selling toner, rather than big-ticket equipment sales. For Xerox and its salespeople, this meant steadier, more recurring income. With a large baseline of recurring revenues, budgets were more likely to be met, which allowed management to give accurate guidance to stock analysts. For customers, the cost of leasing a copier is accounted for as an operating expense, which doesn’t usually entail upper management approval as a capital purchase might. As a near-monopoly manufacturer of copiers, Xerox could reduce costs by building more of a few standard models. As owner of a fleet of potentially obsolete leased equipment, Xerox might prefer not to improve models too quickly. As Steve Jobs saw it, product people were driven out of Xerox, along with any sense of craftsmanship. Nonetheless, in 1969, Xerox launched one of the most remarkable research efforts ever, the Palo Alto Research Center (PARC), without which Apple, the PC, and the Internet would not exist. The modern PC was invented at PARC, as was Ethernet networking, the graphical user interface and the mouse to control it, email, user-friendly word processing, desktop publishing, video conferencing, and much more. The invention that most clearly fit into Xerox’s vision of the “office of the future” was the laser printer, which Hewlett-Packard exploited more successfully than Xerox. (I’m watching to see how the modern parallel, Alphabet’s moonshot ventures, works out.) Xerox notoriously failed to turn these world-changing inventions into market dominance, or any market share at all—allowing Apple, Microsoft, Hewlett-Packard, and others to build behemoth enterprises around them. At a meeting where Steve Jobs accused Bill Gates of ripping off Apple’s ideas, Gates replied, “Well Steve, I think there’s more than one way of looking at it. I think it’s like we both had this rich neighbor named Xerox and I broke in to steal his TV set and found out that you had already stolen it.

I met with Chad Logan a few days after our first get-together. I told him that I would explain my point of view and then let him decide whether he wanted to work with me on strategy. I said: I think you have a lot of ambition, but you don’t have a strategy. I don’t think it would be useful, right now, to work with your managers on strategies for meeting the 20/20 goal. What I would advise is that you first work to discover the very most promising opportunities for the business. Those opportunities may be internal, fixing bottlenecks and constraints in the way people work, or external. To do this, you should probably pull together a small team of people and take a month to do a review of who your buyers are, who you compete with, and what opportunities exist. It’s normally a good idea to look very closely at what is changing in your business, where you might get a jump on the competition. You should open things up so there are as many useful bits of information on the table as possible. If you want, I can help you structure some of this process and, maybe, help you ask some of the right questions. The end result will be a strategy that is aimed at channeling energy into what seem to be one or two of the most attractive opportunities, where it looks like you can make major inroads or breakthroughs. I can’t tell you in advance how large such opportunities are, or where they may be. I can’t tell you in advance how fast revenues will grow. Perhaps you will want to add new services, or cut back on doing certain things that don’t make a profit. Perhaps you will find it more promising to focus on grabbing the graphics work that currently goes in-house, rather than to competitors. But, in the end, you should have a very short list of the most important things for the company to do. Then you will have a basis for moving forward. That is what I would do were I in your shoes. If you continue down the road you are on you will be counting on motivation to move the company forward. I cannot honestly recommend that as a way forward because business competition is not just a battle of strength and wills; it is also a competition over insights and competencies. My judgment is that motivation, by itself, will not give this company enough of an edge to achieve your goals. Chad Logan thanked me and, a week later, retained someone else to help him. The new consultant took Logan and his department managers through an exercise he called “Visioning.” The gist of it was the question “How big do you think this company can be?” In the morning they stretched their aspirations from “bigger” to “very much bigger.” Then, in the afternoon, the facilitator challenged them to an even grander vision: “Think twice as big as that,” he pressed. Logan

Money is a means to an end, the fuel for our lifestyle—and profit is the only money in business that you get to keep. Is that all profit is, then? The leftover money that you get to keep? Not really. For your business, profit is a success score based on how well you’ve managed to create real solutions to real problems for real people (remember, as a business owner, that is your actual job). Profit is a result of both efficacy and efficiency. Your efficacy (or effectiveness) is measured by the revenue you generate, but that’s a deceivingly simple answer. How much revenue you generate is determined by how clear your purpose is, who your business is designed to serve, how well your customers perceive you are at fulfilling that purpose, and how many people know you and your business exist. Efficiency is the simpler (if not easier) metric. Measured by your business expenses, efficiency is the amount of time, energy, and money it takes to fulfill your purpose—at least, as well as you are fulfilling it right now.

Rational decisions are necessarily bounded by the information available to employees. If managers don’t understand what it will cost to capture an incremental dollar in revenue, they will always pursue the incremental revenue.

that is subject to accelerated revenue recognition as a result of aggressive management estimates is one that has “multiple deliverables.” In this type of arrangement, the seller provides several distinct, but intermingled deliverables over an extended period of time. For example, wireless telecom companies often package mobile phone service and a cell phone handset together in the same contract. Sometimes the handset is sold to the customer at a greatly discounted price (or even given away for free), as long as the customer also agrees to a two-year service contract. Accounting rules require the seller to allocate a portion of the total contract value to the handset (to be recognized as revenue up front) and a portion to the service contract (to be recognized over the life of the contract). The seller uses assumptions in estimating how to split the revenue between the two deliverables. By changing these assumptions or

Brinok as a digital marketing Agency In Bangalore creates value and revenue growth by cutting edge marketing techniques and online reputation management

We select our target customer segments, we design our value propositions to best serve these customer segments, we choose which type of relationships we will have with our customers and we choose which channels we will use to find, win, make, keep and grow our happy customers. We call this part of the business model the “Front Office.” Our front office activities will generate customers and revenue. In the “Back Office” of our business model we need to employ certain key resources that can execute certain key activities delivering our value propositions to our customers. The back office often builds relationships with key partners5 and the back office generates cost.

REPORTING PEOPLE - an epidemic in Poland? (as usual, just a topic to be discussed on a lesson) The topic of reporting people, an activity still widespread in post-Communist Poland, has cropped up during yesterday's family gathering at my place. Real-life examples of reporting on people: - one person works for a government agency. Someone has recently (2017) called their supervisor to report her, saying that her workload was insufficient, - some person was a lecturer at a university. He then set up his own private practice and started earning significantly more money than his university colleagues. He started being frequently called to come and present all his financial statements at the Revenue. Spending a significant amount of time there, he made friends with the investigator, who informed him those were his work colleagues who continually reported him, - when my Dad bought his first 'real' car after the fall of Communism, someone from the area called the Revenue to inform them of this fact. He had to demonstrate how he had paid for it, - in the past, I gave classes at a language school in Poznań. It seemed to me I had a great contact with the students and that they were satisfied with the course (always smiling, laughing and talking a lot...). I quit the language school, because I took up another course at the uni and the hours overlapped. After a while, some woman contacted me via social media, telling me that the students had been dissatisfied with my teaching, saying I covered the material in too slow a manner. I was 21 years old, the woman approximately 10-15 years older (so you'd expect some more maturity). It came as a shock to me, as I had really not noticed any dissatisfaction and I really cared a lot about the students' satisfaction with the course. Fortunately, I later met a woman who had been one of the students at the course, and it turned out the students had actually been dissatisfied with HER teaching, saying her pace was too FAST. (It was a beginner's course for older people who had had no contact with English...). She invited me for a coffee and explained to me a few things. For example people's capacity for lying. She was a manager at a government agency, so she must have had some experience. - some coffee has also become a subject of me being reported recently. Thank you for your attention ;) feel free to disagree

For A Sales Team I encourage clients to generally set up their dashboards in a three column format, including: Left: Current month activity (amount of stuff going on). Center: current month results/deals. Right: Long-term results (year-to-date). Example screenshot, blurred for privacy: Example Sales Development Rep Dashboard Every sales rep should set up their own personal dashboard, so they can see the state of their own business at a glance (and it makes it easier for their manager to coach/help them). Below, I have laid out a three-column dashboard

a measure of “declining sales” certainly points to a problem, but “revenue churn”—specifically, how many customers canceled contracts—tells management where to intervene.

Before the invention of the GDP, economists were rarely quoted by the press, but in the years after World War II they became a fixture in the papers. They had mastered a trick no one else could do: managing reality and predicting the future. Increasingly, the economy was regarded as a machine with levers that politicians could pull to promote “growth.” In 1949, the inventor and economist Bill Phillips even constructed a real machine from plastic containers and pipes to represent the economy, with water pumping around to represent federal revenue flows. As one historian explains, “The first thing you do in 1950s and ’60s if you’re a new nation is you open a national airline, you create a national army, and you start measuring GDP.

The platform can also use the extensive tool kit of revenue management techniques to shape which suppliers each buyer sees, and how prominently. It’s not too cynical to expect that a platform might use this power to feature lesser-known suppliers over more famous ones, all else being equal.

Recently, a large company offered to buy one of our portfolio companies. The deal was lucrative and compelling given the portfolio company’s progress to date and revenue level. The founder/CEO (I’ll call him Hamlet—not his real name) thought that selling did not make sense due to the giant market opportunity that he was pursuing, but he still wanted to make sure that he made the best possible choice for investors and employees. Hamlet wanted to reject the offer, but only marginally. To complicate matters, most of the management team and the board thought the opposite. It did not help that the board and the management team were far more experienced than Hamlet. As a result, Hamlet spent many sleepless nights worrying about whether he was right. He realized that it was impossible to know. This did not help him sleep. In the end, Hamlet made the best and most courageous decision he could and did not sell the company. I believe that will prove to be the defining moment of his career.

Organizations seeking to commercialize open source software realized this, of course, and deliberately incorporated it as part of their market approach. In a 2013 piece on Pando Daily, venture capitalist Danny Rimer quotes then-MySQL CEO Mårten Mickos as saying, “The relational database market is a $9 billion a year market. I want to shrink it to $3 billion and take a third of the market.” While MySQL may not have succeeded in shrinking the market to three billion, it is interesting to note that growing usage of MySQL was concurrent with a declining ability of Oracle to sell new licenses. Which may explain both why Sun valued MySQL at one third of a $3 billion dollar market and why Oracle later acquired Sun and MySQL. The downward price pressure imposed by open source alternatives have become sufficiently visible, in fact, as to begin raising alarm bells among financial analysts. The legacy providers of data management systems have all fallen on hard times over the last year or two, and while many are quick to dismiss legacy vendor revenue shortfalls to macroeconomic issues, we argue that these macroeconomic issues are actually accelerating a technology transition from legacy products to alternative data management systems like Hadoop and NoSQL that typically sell for dimes on the dollar. We believe these macro issues are real, and rather than just causing delays in big deals for the legacy vendors, enterprises are struggling to control costs and are increasingly looking at lower cost solutions as alternatives to traditional products. — Peter Goldmacher Cowen and Company

Having studied both the possible risks and the likely rewards, the Guardian’s managers decided both to “open in” the website, by bringing in more data and applications from the outside, and to “open out” the site, by enabling partners to create products using Guardian content and services on other digital platforms. To work toward the “open out” goal, the Guardian created a set of APIs that made its content easily available to external parties. These interfaces include three different levels of access. The lowest access tier, which the paper calls Keyless, allows anyone to use Guardian headlines, metadata, and information architecture (that is, the software and design elements that structure Guardian data and make it easier to access, analyze, and use) without requesting permission and without any requirement to share revenues that might be generated. The second access tier, Approved, allows registered developers to reprint entire Guardian articles, with certain time and usage restrictions. Advertising revenues are shared between the newspaper and the developers. The third and highest access tier, Bespoke, is a customized support package that provides unlimited use of Guardian content—for a fee.

Within SaaS collaboration tools, the concentration of paying customers gives a sense of their hard side—it’s often IT and managers who authorize spending, fully roll out the tools, and help organize the broader employee engagement of the network. The numbers are similarly concentrated: Slack’s S-1 filing showed less than 1 percent of Slack’s total customers accounted for 40 percent of the revenue, and Zoom’s indicated that 30 percent of revenue came from just 344 accounts, again less than 1 percent of their customer base.

Looking at the turnover and quality of managers in charge of sales and marketing is a good way to gauge how much the company values this part of the business. One important element of this principle is knowing which numbers matter the most to a company’s bottom line. For example, many Software-as-a-Service businesses have a tremendous amount of free users (who cost the business money in server fees). Still, they have a difficult time converting these free users into paying customers. So when reading a company’s annual or quarterly report, focus on figures such as the number of paying customers or average customer purchase value. Rather than relying on misleading numbers like “total users” or “monthly average users.” These are often used by unprofitable companies to make their prospects look more attractive than they are. Another essential element of this principle is that a company’s income is not reliant on a single factor. For example, if a semiconductor manufacturer relies on a contract with Apple for 80% of its revenue, then Apple ending that contract would plunge the economics of that business into disarray. This is

PayrHealth has been the leading outsource solution for managed care contracting since 1994. We have served providers of all shapes and sizes across the country over the last 25+ years. We are a complete managed care payor contracting services company – providing analytical, contracting, renegotiation, and credentialing support. At the core of our business, we help healthcare providers grow their revenue by obtaining new and more profitable contracts with payors. We become an extension of your team in our outreach to payors. We are an affordable and effective alternative to sourcing and hiring your own full-time employees.

Let me explain in management terms: police chiefs need to look at the numbers of each type of crime, over time, to know whether their strategy is working. The manager of a business cannot see the complete health of the company by looking at specific orders from specific customers; he or she needs to have things aggregated as revenues, costs, and profits.

In Sierra Leone and many other sub-Saharan African nations, diamonds fueled conflict between different groups and helped to sustain civil wars, earning the label Blood Diamonds for the carnage brought about by the wars fought over their control. In Botswana, diamond revenues were managed for the good of the nation. The

Baron said that Bezos “didn’t try to reinvent the paper; he tried to capture what made it special.” But Bezos did try to reinvent the systems behind the paper, with a flood of Amazon-style rituals. The Pancake Group, which occasionally expanded to include finance and audience development execs, spoke to Bezos every other week on Wednesdays at 1 p.m. EST for an hour. Bezos asked Post managers to “bring me new things”; he wanted to see everything, including changes in pricing and how to expand the paper’s audience and revenue, in the form of six-page Amazon-style narratives, subject to Bezos’s careful reading and detailed questions.

As emphasized in the critical success factors related to “Management support, vision, governance, and structure” earlier in this section, a leading practice to secure support from management is to provide a high-level estimation of the benefits expected from the transformation. This is often referred to as a “high-level automation assessment” or a “top-down automation assessment”. For example, such an estimation might show that, by leveraging IA, the organization has the potential to increase revenue by 20% while reducing costs by 30% in the coming 18 months.

The ratio of time, effort and money spent on selling as opposed to other aspects of business should be 80/20, with 80% of it going toward revenue-producing activities and only 20% towards all the other management activities in your business. Or, if you have a team in place, you should apply this 80/20 analysis again, and only be focussed on your 4% of activities that move the money needle.

Many public services were also outsourced. While PFI was largely about building and running infrastructure, outsourcing was mainly about handing services over to the private sector to manage, notably IT. HMRC (Her Majesty’s Revenue and Customs), DVLA (the Driver and Vehicle Licensing Agency), the NHS and local authorities awarded enormous IT contracts to external suppliers. Public services, including rubbish collection, school meals, building maintenance, prisons and even ambulance and probation services, were placed in the hands of private providers, often by local authorities: at its peak in 2012–13, the value of outsourcing contracts awarded by the latter reached £708 million.19 Since then, however, the value of local-government outsourced contracts has steadily fallen. The trend is similar for central-government IT outsourcing. Public organizations have increasingly found that outsourcing has not delivered the quality and reliability of services they had expected and has often not been good value for money either.

Startup Metrics for Pirates,” where he came up with a general approach to metrics for an entire product, called AARRR metrics—although he put it together for startups, where the success of a company depends on one product, it’s useful for any product. The acronym stands for the following: Acquisition: How the user comes to your product. Activation: The user’s first visit to your product and her first happy experience. Retention: The user liked your product enough to use it again (and hopefully again and again…). Referral: The user likes it enough to tell someone about it. Revenue: The user finds your product valuable enough that she pays for it.

Your opportunity hypothesis is that fixing this bug will improve acquisition for the shopping cart page, and eventually increase revenue.

Acquire more individual users. Retain existing individual users better. Create new revenue streams for existing individual users.

The former head of this operation, Gary Wendt, who is credited with much of the enormous success of GEFS, used his personal agenda as a simple but inordinately powerful tool for growing the business into ever new entrepreneurial arenas. Over the years, he used his personal agenda to make it unequivocally clear that he expected entrepreneurial business growth from every member of management. At every major meeting, the topic of business development was on the agenda (usually in the number one spot). In every annual review, managers were asked to demonstrate the revenues they had created from businesses that did not exist five years before. From division heads to newly hired analysts, everyone was held accountable for some set of activities having to do with creating entrepreneurial revenue and profit streams. In short, no one who worked in the organization could avoid the unremitting focus on new business development. You need to make sure that you are similarly consistent, predictable, and focused, and that you sustain this emphasis over a long period. Pressure applied only once is soon forgotten, and alternating pressure (as in flavor-of-the-month management) will cause people to be confused, disillusioned, or angry. Wendt’s consistent, visible, and predictable attention to business development created a pressure in GEFS for entrepreneurial business growth that took it from the $300 million installment loan portfolio we looked at in chapter 6 to a financial services behemoth with $250 billion in assets under management when he left in 1998. Examples of Wendt’s single-minded determination to drive growth through entrepreneurial transformation at GEFS are numerous. Years ago, for instance, he was asked whether his agenda would change if someone rushed in and told him that the computer room was on fire (implying that his business could be completely destroyed). Wendt replied that he employed firefighters to handle such emergencies. As the leader, his most important job was to keep people focused on business development. Since business development is an uncomfortable and unpredictable process, Wendt knew that if he allowed it to appear to be a low priority for him, all those working for him would heave a sigh of relief and go back to business as usual, with new businesses struggling to find a place on the priority list. In fact, as he remarked, even if he did try to get involved in putting out the fire, he would probably only interfere with the efforts of the highly competent people employed to do so.

Marquetly realized that, in order to grow its revenue to the numbers it needed, it should focus on expanding upmarket, selling to larger companies (enterprises),

Identify Your Strengths With Strengths Finder 2.0 One tool that can help you remember your achievements is the ‘Strengths Finder’ "assessment. The father of Strengths Psychology, Donald O. Clifton, Ph.D, along with Tom Rath and a team of scientists at The Gallup Organization, created StrengthsFinder. You can take this assessment by purchasing the Strengths Finder 2.0 book. The value of SF 2.0 is that it helps you understand your unique strengths. Once you have this knowledge, you can review past activities and understand what these strengths enabled you to do. Here’s what I mean, in the paragraphs below, I’ve listed some of the strengths identified by my Strengths Finder assessment and accomplishments where these strengths were used. “You can see repercussions more clearly than others can.” In a prior role, I witnessed products being implemented in the sales system at breakneck speed. While quick implementation seemed good, I knew speed increased the likelihood of revenue impacting errors. I conducted an audit and uncovered a misconfigured product. While the customer had paid for the product, the revenue had never been recognized. As a result of my work, we were able to add another $7.2 million that went straight to the bottom line. “You automatically pinpoint trends, notice problems, or identify opportunities many people overlook.” At my former employer, leadership did not audit certain product manager decisions. On my own initiative, I instituted an auditing process. This led to the discovery that one product manager’s decisions cost the company more than $5M. “Because of your strengths, you can reconfigure factual information or data in ways that reveal trends, raise issues, identify opportunities, or offer solutions.” In a former position, product managers were responsible for driving revenue, yet there was no revenue reporting at the product level. After researching the issue, I found a report used to process monthly journal entries which when reconfigured, provided product managers with monthly product revenue. “You entertain ideas about the best ways to…increase productivity.” A few years back, I was trained by the former Operations Manager when I took on that role. After examining the tasks, I found I could reduce the time to perform the role by 66%. As a result, I was able to tell my Director I could take on some of the responsibilities of the two managers she had to let go. “You entertain ideas about the best ways to…solve a problem.” About twenty years ago I worked for a division where legacy systems were being replaced by a new company-wide ERP system. When I discovered no one had budgeted for training in my department, I took it upon myself to identify how to extract the data my department needed to perform its role, documented those learnings and that became the basis for a two day training class. “Sorting through lots of information rarely intimidates you. You welcome the abundance of information. Like a detective, you sort through it and identify key pieces of evidence. Following these leads, you bring the big picture into view.” I am listing these strengths to help you see the value of taking the Strengths Finder Assessment.

P&G switched from market TSR to operating TSR. Operating TSR is an amalgamated measure of three real operating performance measures—sales growth, profit margin improvement, and increase in capital efficiency. This measure more accurately captures P&G’s true performance across the most critical operational metrics and, moreover, measures things that business-unit presidents and general managers can actually influence, unlike the market-based TSR number. The operating TSR measure integrates revenue growth, margin growth, and cash productivity and it does so regardless of the type of assets being managed—whether you have hard assets like tissue/towel paper converting machines or inventory like cosmetics and fragrance products. In other words, the measure could be equitably and usefully applied to all of P&G’s diverse businesses. And it isn’t utterly unconnected to stock performance—there is a high correlation over the medium and long term between operating TSR and market TSR. But unlike the stock price, the operating TSR measures are ones over which P&G managers have real influence in the short and medium term.

At a high level, company goals fall into three categories: growth, revenue, and customer satisfaction.

The bureaucracy of a big company like Citi often led to bad policies. Such a large firm is basically forced to make decisions for a whole organization that don’t necessarily apply well to the individual business units. Is it better, one wonders, to have uniformity of authority in decision making at the expense of flexibility? It was a demonstration of the challenges of size, the difficulty of managing a large business with hundreds of disparate units. In the mid-2000s, for example, the firm developed new rules for air travel, insisting that employees reach their destinations on the cheapest fares available, even if that meant multiple connections to get to smaller cities. Saving money was not a bad inclination in an industry notorious for profligacy, but there was no flexibility in the rule, and so my assistant, Angela Murray, was engaged in frequent battles to make sure I could arrive at out-of-town meetings on time. If I had a ten o’clock morning meeting in Omaha to discuss a deal with a potential $6 million fee, Citi still insisted on saving a few hundred bucks by booking me on a flight that arrived in the afternoon, which meant I would miss the meeting unless I traveled the day before. And because those cheaper flights often required an overnight stay, more work hours were wasted as well as any potential savings, since the firm would have to pay for a hotel and meals. I knew for a fact that the policy was revenue-negative.

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Dennis Fine digs deep into his skillset to bring the best leadership to the healthcare industry as he can. From physician practice management, strategic planning, major medical equipment contracting and procurement, to revenue cycle management, Dennis Fine excels at fixing broken processes and leading high-performing teams to successful outcomes.