In his book The Sales Growth Imperative, best-selling author David Cichelli says there are five “strategic missteps” that hurt profits/revenue, and that most companies are unaware of the problems:
- Innovation errors: Focusing on upgrades (or selling points) buyers have little or no interest in.
- Pricing errors: Raising or lowering price is a short-term solution that usually causes more problems than it solves.
- Business model errors: Consider whether you’re using the most effective means to divide, generate or attract new leads.
- Presentation errors: As markets shift, so do the overtures prospects respond to.
- Cost-control errors: The more freedom reps have to “cut deals,” the more potential those deals have of hurting the bottom line.