NFL teams spend approximately 3-5% of their revenue in the form of research and development. The NFL R&D is their scouting departments. The NFL Champion Kansas City Chiefs' 2022 annual revenue was $26.1M which means they likely spent between $783,000 and $1.3M on scouting. And Andy Reid's teams have appeared in 3 of the past 4 Super Bowls. As the CEO of an emerging growth firm, do you have a dedicated budget for sales talent scouting and recruiting?
NFL teams complete robust talent assessments, data modeling, projected draft choices, review of the free agency market, and simulation of all trade options all in pursuit of the right recipe to win the Super Bowl.
Before the season starts, NFL teams complete their training camp rosters. The rookies, newcomers and veterans are finally in the building together, with mini-camps and OTAs (organized team activities) replacing the strength and conditioning workouts that comprise the early part of the offseason calendar. The coaches assess each player on how they execute the playbook during game simulations and skills practice. These critical offseason sessions give the coaches an evaluation of how the new prospects and veterans are jelling into a roster. Once the OTAs are underway, the coaches focus on creating championship-caliber habits and establishing a consistent routine that will produce solid results down the road. Moreover, it is about creating an environment in which everyone understands the performance and football character (work ethic, preparation habits, punctuality, etc.) expectations and about making sure players are committed to meeting the standard every day. Coaches introduce the fundamentals and techniques needed to succeed, and the summer camps provide players with enough repetitions to help those skills become habits that can be executed in game action.
Did I mention that Andy Reid's teams have appeared in 3 of the past 4 Super Bowls? Reid has mastered the modern formula for blending talent, skills, character and techniques.
As a CEO, do you have clarity on the current skills gaps and sales character of your sales organization? Is there a clear sales process that creates the required work ethic, preparation habits and motions? Too often, marketing is held accountable for performance gaps that exist under the sales hood. Low performing sales teams are frequently built with an ad hoc approach to hiring. CEOs can do better. They can ensure that the sales organization is designed with right habits, skills, and methods.
After all, could Andy Reid be successful without a game plan that's designed with clarity on how his team is designed and what they are capable/not capable of?
In "Red Flags in Revenue: A Guide for Provide Equity", we provide portfolio company fund managers an education on the industry standards for creating a winning talent strategy, sales process, coaching framework, data strategy, account management model and repeatable sales methods. This is the revenue framework playbook.
Being an early stage company is no excuse for not being game ready.
Include us in your preseason OTAs, we can help. Revenue improvement is a click away Info@LucrumPartners.co
Comentarios