Last year, we shared with you how our decision to scale back our sales efforts to focus primarily on the NYC market ultimately led us to grow our revenue by 300% in a matter of months. That experience allowed us to learn a tremendous amount about our capabilities as a company, as well as the markets we’re operating in. To this day, it remains one of the most formative decisions we’ve made.
That’s why we’ve been continuing to share with other businesses how this experience impacted our strategy as a company.
Recently, Ginevra Figg, PivotDesk’s VP of Sales and Marketing, sat down with James Carbary, host of the B2B Growth Show: a podcast dedicated to helping B2B executives achieve explosive growth, to share the story.
Naturally the hosts were eager to know: how does a company manage to grow 300% by scaling back?
The answer is simple: focus.
Ginevra shared with the hosts of the B2B Growth Show how after expanding into 29 markets a little over 2 years ago, our company had lost focus of just what it would take to lock in consistent growth.
As a result, our progress slowed and out growth began to plateau. We weren’t losing revenue, but our numbers weren’t increasing consistently either.
You see, the hustle harder approach we had been applying to our businesses for the first two years just wasn’t cutting it anymore. The low-hanging fruit had been picked and the rolodex of strong relationships the sales team had fought to forge was exhausted. We needed to find a way to scale the business to the next level.
And we knew this would require drastic action…
Our solution flew in the face of what many would consider a reliable path to success; instead of throwing money at the situation in the hopes of jumpstarting each of the 29 markets we went live in, we scaled back…dramatically.
We started by taking a step back and examining what was working.
Our data showed us that the NYC market gave us the most leads and the deals we closed there had a 7% higher value than anywhere else in the country.
Based on that data, we hypothesized that if we were to rally around the NYC market, we could bring in more revenue there alone than we could nationwide.
Testing this hypothesis involved a complete restructuring of our sales process an our team.
It wasn’t easy, but it worked.
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