Boost Growth at Industrial Service Acquisitions

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by a searcher from IESE Business School
in Toronto, ON, Canada

3yrs ago

Boost Growth at Industrial Service Acquisitions

I want to speak with leaders at acquired industrial service businesses and learn how you will boost growth. Are you considering performance pay or tweaking variable compensation tied to corporate objectives? Are you considering new technology to align corporate goals with front-line workers? If so, how are you approaching the problem? What tools are you exploring?

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reply by a searcher 3yrs ago
in Portland, OR, USA

Presuming your primary focus is on revenue growth, it is pivotal to conduct a comprehensive audit of the current sales strategies in place.

Ensuring adherence to basic yet fundamental sales principles is paramount. Pay meticulous attention to cultivating relationships, maintaining a consistent communication cadence, and diligent follow-up – all are vital components in managing a pipeline with a prolonged sales cycle.

This process can be effectively executed by harnessing the power of a small, trusted, and financially viable advisory group. The idea is to foster a system-centric approach rather than depending on the arrival of a "miraculous" Chief Revenue Officer or VP of Sales. Time and again, it has been proven that sustainable success is built on robust systems rather than transient heroics.

reply by a searcher 2yrs ago
from Duke University in Fort Collins, CO, USA

thanks for the tag Luke. I have experience working in a global industrial company with a very large installed base. We offer services through channels as well as direct to customers. We find that incentives compensation based on leads/job won works well for employees that are working on identifying target customers for products with low switching cost (maybe due to lack of certification etc) and aftermarket substitutes. If there is a high switching cost for the customer, combined with high barrier to entry (arising from learning curve or initial investment), then customer service and quality of service is critical, then a high fixed comp with a small variable comp based on the business performance works well. Happy to chat further, please don't hesitate to reach out.