October 15, 2010
Revenue Rally Results: 7/1/2010
On June 11 I sent out an email requesting that we focus on revenue for Q2. Thank you for your focus and efforts. The results...
At the time, we were forecasting $xxx (includes forecasted software). We had identified areas that would get us to $xxx (in fact more than $xxx). We did NOT achieve this target. Some of the areas we fell short included Lexis, software, Win Wholesale, Verizon, and others. We were, however, able to add $xxx to the revenue forecast net of sliding deals in this short amount of time. This makeup is frankly impressive, and disappointing at the same time. It is impressive that we were able to rally and make this up. It is disappointing that we can actually make this much up in such a short amount of time, when it really should be a focus on week one and every week of the quarter, rather than at the last minute. I liken this to playing to win from the first at bat, vs. just playing and rallying in the 9th inning. The former are championship teams, the latter, average.
I do want to paint a positive picture for you, because the picture is in reality, positive. Below is a summary that I prepared for our bank last week. It shows the closed business in 2009 vs. 2010.
It doesn’t take a rocket scientist to see that these leading indicators (closed business) will lead to growth (in fact significant growth) in our business. The hard part is in 1) getting this closed business to turn into revenue and 2) just in time staffing the engagements with the appropriately skilled resources. This is the stage we’re currently in. Your efforts in the “Revenue Rally” are an attempt to focus on item 1. I need your continued help to make this an ongoing effort and not a 9th inning rally at quarter end. The longer term contracts we’re securing are enabling us to appropriately hire new and train existing staff. We’re currently focusing on this as an organization and managing to the revenue that is converted from these sales.
Better news: the green “Pipeline Revenue by Client” graph below (compared to the previous “blue” charts of closed business) shows what is still to come. Focus on the number and color above the $250k, $500k and $1.0m deal size lines.
Our major initiatives over the last 12 months have not only generated great sales numbers for 2010 (we officially sold 125% of all 2009 in just Q1 and Q2 of 2010), but have even higher prospects for future sales. These charts reflect this trend. The major contributing initiatives we have focused on as a company include:
These exact charts are what I used to review the state of the business with our bank. Our move from Orange (in early 2009) to Yellow (in late 2009) to Green (in 2010) is being sustained by these initiatives. The bank agrees with us and has increased their commitment to Crown as a result. What I need from you is a focus on furthering these initiatives, to keep us Green. Know that Yellow isn’t the end of the world, but it does take a focus off of the momentum we have - which we don’t want.
NET: We didn’t achieve our result and could have. Because of this, I am not approving a day off for Directors and Partners at Crown. However, we discussed this as an Executive Team and agreed that the efforts of the group were worthy of an award. Therefore, anyone who is not a Director or Partner at Crown is approved for an extra day off. You may take this day on July 6. If you can’t due to previous client commitments or would rather take a different day, you may take this day anytime in Q3. I ask that you continue to help us with item 1 above and try to take this day when you would not be billing so that we don’t lose that revenue (read: championship team).
I appreciate the work that you all have put into Crown. We have seen very good results from the effort. We have more work to do, but have definitely made great progress.
Richard
At the time, we were forecasting $xxx (includes forecasted software). We had identified areas that would get us to $xxx (in fact more than $xxx). We did NOT achieve this target. Some of the areas we fell short included Lexis, software, Win Wholesale, Verizon, and others. We were, however, able to add $xxx to the revenue forecast net of sliding deals in this short amount of time. This makeup is frankly impressive, and disappointing at the same time. It is impressive that we were able to rally and make this up. It is disappointing that we can actually make this much up in such a short amount of time, when it really should be a focus on week one and every week of the quarter, rather than at the last minute. I liken this to playing to win from the first at bat, vs. just playing and rallying in the 9th inning. The former are championship teams, the latter, average.
I do want to paint a positive picture for you, because the picture is in reality, positive. Below is a summary that I prepared for our bank last week. It shows the closed business in 2009 vs. 2010.
It doesn’t take a rocket scientist to see that these leading indicators (closed business) will lead to growth (in fact significant growth) in our business. The hard part is in 1) getting this closed business to turn into revenue and 2) just in time staffing the engagements with the appropriately skilled resources. This is the stage we’re currently in. Your efforts in the “Revenue Rally” are an attempt to focus on item 1. I need your continued help to make this an ongoing effort and not a 9th inning rally at quarter end. The longer term contracts we’re securing are enabling us to appropriately hire new and train existing staff. We’re currently focusing on this as an organization and managing to the revenue that is converted from these sales.
Better news: the green “Pipeline Revenue by Client” graph below (compared to the previous “blue” charts of closed business) shows what is still to come. Focus on the number and color above the $250k, $500k and $1.0m deal size lines.
Our major initiatives over the last 12 months have not only generated great sales numbers for 2010 (we officially sold 125% of all 2009 in just Q1 and Q2 of 2010), but have even higher prospects for future sales. These charts reflect this trend. The major contributing initiatives we have focused on as a company include:
These exact charts are what I used to review the state of the business with our bank. Our move from Orange (in early 2009) to Yellow (in late 2009) to Green (in 2010) is being sustained by these initiatives. The bank agrees with us and has increased their commitment to Crown as a result. What I need from you is a focus on furthering these initiatives, to keep us Green. Know that Yellow isn’t the end of the world, but it does take a focus off of the momentum we have - which we don’t want.
NET: We didn’t achieve our result and could have. Because of this, I am not approving a day off for Directors and Partners at Crown. However, we discussed this as an Executive Team and agreed that the efforts of the group were worthy of an award. Therefore, anyone who is not a Director or Partner at Crown is approved for an extra day off. You may take this day on July 6. If you can’t due to previous client commitments or would rather take a different day, you may take this day anytime in Q3. I ask that you continue to help us with item 1 above and try to take this day when you would not be billing so that we don’t lose that revenue (read: championship team).
I appreciate the work that you all have put into Crown. We have seen very good results from the effort. We have more work to do, but have definitely made great progress.
Richard
