Weekend Reading
Weekend Reading:
How to kickstart and scale a consumer business:
Here’s what’s in store:
Step 1: INSIGHT: Come up with your idea ← This post
Step 2: AUDIENCE: Identify your super-specific who
Step 3: HOOK: Craft your pitch
Step 4: REACH: Find your early adopters by doing things that don’t scale
Step 5: RETAIN: Iterate until enough people stick around
Step 6: SCALE: Build your growth engine
I think this is a foundational technology change, a new architecture for building an entirely new generation of computing systems. We have become convinced that Web3/blockchain/crypto is foundational. It’s a big hill. It’s as foundational an architecture shift as the ones from mainframes to PCs, from PCs to web, from web to mobile, or from traditional software to AI. It’s a fundamental shift and building this out is a 25- to 30-year process.
“Management consulting is expensive. The median billing range for India-bred consulting firms and the Big Four is 0.7-1 million per consultant-month. For international firms like Accenture, this range can be 1.5-2 million. For MBB (McKinsey, BCG, Bain,) the range is 2.5 million plus, and can cross 5 million per consultant-month (Indian arms of MNCs often pay global rates.) This translates to gross margins of more than 50%. Given this increasing need for consulting services and the high costs, many companies attempt to build consulting teams in-house. At its core, management consulting requires three things: One, top talent. Two, access to information sources such as research reports and expert networks (e.g., GLG—Gerson Lehrman Group.) Three, the institutional knowledge on domains and problem-solving methods.”
Strategy Alignment: Both Marketing and Sales functions must dramatically change their revenue strategies to better align with the new buyer. The Marketing strategy of brand awareness and demand generation, and Sales strategy of opportunity management and closing, is no longer adequate. Marketing strategies and Sales strategies must be integrated into a common, comprehensive revenue strategy that focuses on shortening the entire buyer journey, both online and offline.
Process Alignment: Both Marketing and Sales groups must dramatically change their revenue processes to better align with the empowered buyer team. The marketing process (aka funnel) and the sales process (aka pipeline) no longer aligns with the customer’s purchasing process. The separate Marketing processes and Sales processes must be integrated into a common comprehensive revenue process that focuses on moving every buyer team member through each stage of their purchasing process resulting in a decision to purchase.
Execution Alignment & Empowered Collaboration: Both Marketing specialists and Sales specialists must dramatically change how they design and execute revenue campaigns. They must leverage their unique professional skills, experience, and technologies to collaborate on designing and executing an integrated marketing and sales campaigns that accelerate the buyer to the next stage of their purchasing process.
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