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High-profile corporate consultant Susan Trivers has developed a keen eye for pinpointing patterns that keep companies stuck at a limited level of success. One of the most consistent patterns she has documented among businesses struggling to find their way is that many otherwise viable organizations have wildly variable finances, which restricts their ability to make effective decisions. She calls this phenomenon the¨Revenue Roller Coaster¨, and Part IV of this conversation with Susan Trivers explores finding a ticket off this wild ride.

[0:35] Ups and Downs

Although seasonal businesses are especially susceptible to these fluctuations, the fact is that companies of all kinds struggle with consistency throughout the year. These businesses manage to do fairly well despite their boom-or-bust stream of income, but it’s easy to imagine the same organizations—demonstrably well-run in their best times—performing at a consistently remarkable level. Trivers frames the “Revenue Roller Coaster” as a scenario requiring a finely tuned internal strategy aimed at delivering value to your most valued customers year-round.

[6:24] Resilience and Reinvention

Failing to adequately respond to change is a sure way to see your company relegated to the dustbin of history. Of course, this is a general truism of business, but the consequences of a lacking imagination have been drawn into focus like never before in 2020. Many service providers have had to find (or invent!) entirely new ways of doing business in order to remain viable in a constantly shifting consumer atmosphere, and it is only those company leaders and entrepreneurs who can re-imagine their offerings to suit current demand that will flourish.

[8:24] Creating Commitments

The most lucrative industries are typically those that can demonstrate their usefulness at any given moment. If your company can offer consistent value to its most loyal customers, there are practically no limits on its growth, and one way that businesses with inconsistent seasonal income can work to stabilize their revenue streams is by creating client commitments. Through products such as gift cards, subscriptions, off-season discounts, and annual retainer packages, companies can expand their earning potential and build a more stable platform for growth.

[9:06] Flexibility as a Product

A product you are unable to use the moment you need it is no product at all, and so many businesses have transitioned to an on-demand model to guarantee responsiveness for clients and revenue for your organization. There are a surprising number of professions that can flourish under such an arrangement, from auto mechanic and administrative assistants. In all of these cases, the appeal of the service is the ability to reserve your services in advance and use only what is needed while you collect a steadier stream of income.

[14:01] Objective Perspective

No matter how experienced or confident we are, we can only think our own individual thoughts, and so at times we all get too close to things to evaluate them properly. Company leaders who find themselves scrambling to adapt to the challenges of today should look to other industries for workable models and seek out various viewpoints on what their business could be rather than what it currently is. We tend to only ask the questions that reflect our own expertise, and so a fresh set of eyes may view your business and its prospects from an entirely new angle.

About Susan Trivers, President, Trivers Consulting Group

Susan Trivers has been providing strategic business consulting to low mid-market and small services companies since 1999. Trivers Consulting Group has helped 500 client companies to increase profitable revenue by more than 2 billion dollars. When asked what her one piece of advice to business owners is, she immediately says: “Accumulate more cash.” Cash enables the company to achieve its biggest goals and helps the owner grow their personal wealth. Susan offers a wealth of insightful strategic and tactical information on her website.

“Helping business owners have wealth and a life, not just a job.” -Susan Trivers

Connect with Susan

Website: http://susantrivers.com/

Trivers Consulting Group Phone: 703-801-0345

About: https://www.susantrivers.com/about-susan/meet-susan/

Book: Author of Tinker: How Smart Business Owners Develop Creative Ideas for True Growth. Available on Amazon