5 Actions to implement in your biz from #IceIdeas

The IceIdeas forum gathered a sellout crowd of 600 entrepreneurs.
Below are my pick as the top 5 messages that owner managers should take away from the day and action.

            Sales – the No.1 source of capital

  1. “Spend as much on sales and Marketing as product development” – what is your sales and marketing budget vs development budget?  In my experience the cost of sales and marketing of successful companies is more than the R&D budget.
  2. “Sales is more about the customer and customers procurement process than the product “  –  This is particularly true about selling into large companies. Who are the influencers in the decision, is budget approved and planned ?   “People will do what they want when they want “ – this was a great quote on the day  – I still see companies expecting businesses just to buy because it exists.
  3. “Be the newspaper not the ads”– in your communications spend 25% on sales 75% on value for your client. Too often I see people in the social media space bombarding us with messages of buy – buy – buyPeople
  4. Why should the 20th person join your team?” – This is a great concept, often in growing companies we get so focused on the hype of getting started yet  we  do not put enough effort into talent management. For many businesses that have great sales pipelines the marketing effort needs to go into attracting and retaining great staff.
  5. “Every one should know – what every one else does on the team” So true, it’s important that across disciplines everyone has empathy for each others role in the company. To often the techies and science people absolve responsibility to the sales effort and vice a versa
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