A revenue director is somebody who is appointed to share the responsibility of bringing in revenue to the company. With a revenue director, you will have somebody you can talk to, strategize with, and stay accountable with to keep consistent revenue coming into the business.
The revenue director is likely already on your staff. Most often, business leaders choose their sales director or marketing director as the revenue director.
A revenue director’s responsibilities are pretty simple:
1. Track overall revenue every day and compare it to a standard
2. Stay accountable with the business owner to hit or exceed the revenue standard
3. Understand where revenue is coming from by studying and knowing which revenue streams account for which parts of the revenue
4. Forecast future revenue by breaking down anticipated revenue by month
5. Discuss possibilities to protect and increase revenue in a monthly revenue meeting
The revenue director will have their normal job in sales or marketing but will take the time to study and understand the story the numbers are telling. They will know where the revenue is really coming from (which products account for the most and least revenue) and discuss with the business owner (or leader) the strategy for growing the business. The key is to analyze the numbers and surmise best practices as they relate to overall revenue generation.
When I help you install a revenue director you will better understand:
• Where the money is really coming from
• What sales and marketing strategies are working best
• What actions need to be repeated to positively affect revenue
• What actions need to be discontinued as they are not bringing in revenue and only increasing overhead
• What money will be coming in in the future allowing you to make strategic decisions based on future cash flow
When you install a revenue director you get:
• Peace of mind knowing there is somebody who cares about the revenue with you
• Much better optics on overall business performance
• A routine, monthly meeting that focuses exclusively on revenue so you have better awareness which leads to better decision making
• Early warnings about revenue decline
One-on-One Coaching — Install a Revenue Director
• Duration: 8 sessions
• Frequency: Bi-weekly
• Session length: 60 minutes