[BECAUSE] you need to get busy optimizing or get busy dying

[BECAUSE] you need to get busy optimizing or get busy dying
cost of revenue charts

Note: Spending some time recently with a client, helping them sort through their data aggregation and clean-up, gave me the opportunity to catch up with Randa Minkarah, Co-Founder & COO from Transform  Randa and I talked about the challenges that companies are still having regarding not only being “data-driven” but also turning their data into insights to get what they (actually) want – more revenue.  Randa details below a few simple steps (and simple home truths) about this process. Enjoy! Pat

Generating Sustainable Revenues from Your Data

by Randa Mikarah - Transform Digital - @Randam2

There is no question that year after year, the cost of revenue (COR) generation continues to climb.  Look at publicly traded companies in nearly any sector and read the reported costs associated with sales and marketing.  In almost every case, the costs of acquiring revenues continue to outpace the gross revenues generated.  It costs more to make the same money. 

In today’s world of shifting digital and economic landscapes, tapping into data in real time and extruding insights gives executives a critical tool to stay ahead of the curve.  Near real-time decision making is a necessity - not a luxury.

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[BECAUSE] the last thing you need are “List Junkies”

[BECAUSE] the last thing you need are “List Junkies”

"A leader who must control every aspect of the work being done will only ever grasp as far as their own arms can reach." - PJS

Legacy organizations and corporate institutions are filled with inertia; cultures that promote a “Tell me what to do” environment.

I once inherited a department where my predecessor had purposely silo'd the department to develop a mystique about their work. Promoting that her team’s work was “black magic, smoke, and mirrors” was how she felt she could best retain her position.

The effect of this type of leadership (really managing not leadership) was that she also compartmentalized all decision making within her role.  Making it very clear (via words and actions) that decisions were made by her - and her alone. The only way her employees, (because there was no "team"), knew what they were to be working on was to go to her and get a list.  When the list was complete - they went back for more. 

Her employees didn't make any decisions about their own work.  Consequently, they didn't think.  They didn't think about the work itself, the impact it had on their workmates, the company, and (heaven forbid!) on how it impacted customers.  In fact - they were afraid to think because it had consequences.

This kind of imposed inertia promotes a work environment where team members become "List Junkies." At best, personal ownership is something that individuals achieve only by circumventing specific aspects/tasks of their work away from the eyes of their boss. At worst, it transforms team members into...

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