In episode #538 of Marketing School, Eric and Neil discuss what you should do when your revenue tanks. Tune in to hear why you should have a plan of action for this eventuality and tips on how to overcome this hurdle. 

Time-Stamped Show Notes:
[00:27] Today’s Topic: What You Should Do When Your Revenue Tanks
[00:37] Everyone has their ups and downs, no business keeps climbing forever.
[00:53] Microsoft once invested in Apple, so that they wouldn’t go bankrupt and Microsoft wouldn’t end up facing antitrust lawsuits.
[01:15] Revenue often tanks, because companies are distracted. You can’t lose focus on your main revenue source.
[01:45] Revenue also drops, because companies stop innovating their core products.
[02:15] Rocket Fuel is a great book about a visionary and an “integrator”.
[02:45] You need to have preventative measures in place for when your revenue takes a dip.
[02:55] Even consider short-term loans from places like Kabbage.
[03:10] Someone from IBM once made a billion dollar mistake. The CEO simply called it a “billion dollar lesson”.
[03:41] It’s important to have a plan for when your revenue tanks and learn from the mistakes that led you down this path.
[04:45] Once everyone is on the same page with the same goal, you can get your company back on track.
[05:00] Neil puts a person in charge of each aspect of the funnel or business process.
[05:30] Once your revenue tanks, create your action plan.
[05:52] Neil believes in firing the squeaky wheel, as opposed to considering it a lesson learned.
[06:15] Survey your clients about their satisfaction levels.
[07:04] Have a weekly sales meeting cadence, so it’s quick, informative, and concise.
[08:10] Eric likes to use Ask Nicely for his surveys.
[09:03] That’s it for today.
[09:06] Go to Singlegrain.com/Giveway for a special edition of Crazy Egg, the heat mapping tool.

Leave some feedback:
What should we talk about next? Please let us know in the comments below.
Did you enjoy this episode? If so, please leave a short review.

Connect with us:
NeilPatel.com
Quick Sprout
Growth Everywhere
Single Grain
Twitter @neilpatel
Twitter @ericosiu



Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode #538 of Marketing School, Eric and Neil discuss what you should do when your revenue tanks. Tune in to hear why you should have a plan of action for this eventuality and tips on how to overcome this hurdle.  Time-Stamped Show Notes: <ul> <li>[00:27] Today’s Topic: What You Should Do When Your Revenue Tanks
</li> <li>[00:37] Everyone has their ups and downs, no business keeps climbing forever.</li> <li>[00:53] Microsoft once invested in Apple, so that they wouldn’t go bankrupt and Microsoft wouldn’t end up facing antitrust lawsuits.</li> <li>[01:15] Revenue often tanks, because companies are distracted. You can’t lose focus on your main revenue source.</li> <li>[01:45] Revenue also drops, because companies stop innovating their core products.</li> <li>[02:15] <a href="https://www.amazon.com/Rocket-Fuel-Essential-Combination-Business/dp/1942952317"> Rocket Fuel</a> is a great book about a visionary and an “integrator”.</li> <li>[02:45] You need to have preventative measures in place for when your revenue takes a dip.</li> <li>[02:55] Even consider short-term loans from places like <a href="https://www.kabbage.com/">Kabbage</a>.</li> <li>[03:10] Someone from IBM once made a billion dollar mistake. The CEO simply called it a “billion dollar lesson”.</li> <li>[03:41] It’s important to have a plan for when your revenue tanks and learn from the mistakes that led you down this path.</li> <li>[04:45] Once everyone is on the same page with the same goal, you can get your company back on track.</li> <li>[05:00] Neil puts a person in charge of each aspect of the funnel or business process.</li> <li>[05:30] Once your revenue tanks, create your action plan.</li> <li>[05:52] Neil believes in firing the squeaky wheel, as opposed to considering it a lesson learned.</li> <li>[06:15] Survey your clients about their satisfaction levels.</li> <li>[07:04] Have a weekly sales meeting cadence, so it’s quick, informative, and concise.</li> <li>[08:10] Eric likes to use <a href="https://www.asknicely.com/">Ask Nicely</a> for his surveys.</li> <li>[09:03] That’s it for today.</li> <li>[09:06] Go to <a href="http://www.singlegrain.com/giveaway">Singlegrain.com/Giveway</a> for a special edition of Crazy Egg, the heat mapping tool.</li> </ul> Leave some feedback: <ul> <li>What should we talk about next? Please let us know in the comments below.</li> <li>Did you enjoy this episode? If so, please leave a short review.</li> </ul> Connect with us: <ul> <li><a href="http://neilpatel.com/">NeilPatel.com</a></li> <li><a href="https://www.quicksprout.com/">Quick Sprout</a></li> <li><a href="http://growtheverywhere.com/">Growth Everywhere</a></li> <li><a href="http://www.singlegrain.com/">Single Grain</a></li> <li><a href="https://twitter.com/neilpatel">Twitter @neilpatel</a></li> <li><a href="https://twitter.com/ericosiu">Twitter @ericosiu</a></li> </ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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Marketing School - Digital Marketing and Online Marketing Tips

In episode #538 of Marketing School, Eric and Neil discuss what you should do when your revenue tanks. Tune in to hear why you should have a plan of action for this eventuality and tips on how to overcome this hurdle.  Time-Stamped Show Notes: ...

What You Should Do When Your Revenue Tanks | Ep. #538

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