Five Steps To Faster Growth

What does it take to be one of the fastest-growing solution providers in the market? As CRN's study of the Fast Growth 100 shows, there is no single formula that guarantees success. But there are some things I believe you can do to accelerate growth rates.

ROBERT FALETRA Can be reached at (781) 839-1202 or via e-mail at rfaletra@cmp.com.

Step one is you have to decide that revenue growth is your priority. Capturing new revenue rapidly doesn't necessarily result in better margins. It doesn't mean that this growth is unprofitable, but if margins slip a bit as revenue accelerates, it's not a bad thing. Anytime you are acquiring new customers, you are building a stronger business for the long haul.

Step two is to decide what areas of your business can grow faster. Being at the forefront of a newer technology may drive hefty bottom-line results, but if adoption rates are low in the customer set, then it's hard to ramp things quickly. In the end, you need to focus on a business practice that has a reasonably short sales cycle or, better yet, one that requires significant up-front consulting services that lead to deployment.

Getting paid for the consulting service means a faster payback. It's hard to be the fastest- growing VAR in the nation if the sale is strictly product. An example of this is Web site design and deployment. It's amazing how many smaller businesses still do not have a Web site. Consulting up front about what should go into a small business' site construction means getting paid in the conceptual and design stage, which leads to the infrastructure or managed service portion of the deployment—not to mention training and potentially hosting.

Step three is to do something many solution providers still don't act on—building and deploying a marketing program. The most efficient sales process you can build is one where your marketing effort is attracting prospects that are interested and believe in your capabilities before your sales team goes in and closes the deal. We all know sales is a volume game. All things being equal, if I make 10 calls today and you only make five, chances are good that I'm closing more business than you.

Willingness to partner is step four in my five-step plan. Even the largest solution providers in the market understand that partnering to bring in additional expertise drives a more rapid deployment. You have to be able to identify and partner with other solution providers when necessary or you will get bogged down in an account instead of selling another one.

Step five is the cardinal rule in my book to sustaining a long-term growth plan. Always be looking to upsell. Anytime you get in and deliver a successful deployment, it makes it easier to sell a satisfied customer on other technology that will benefit the business.

DO YOU HAVE ANOTHER STEP TO FAST GROWTH?
Make something happen. Let me know, e-mail CMP Channel President Robert Faletra at rfaletra@cmp.com.