I wanted to share the number one hack used by Tech CEOs to gain serious results. I’m writing this blog as many have asked me to explain more about this hack and what I call the “moving train technique” and how it can apply to their tech business.
Most Common Mistakes
The most common mistakes seen at tech companies while trying to grow their company, market share and team:
- We try to strategise too early without enough market intelligence.
- Create pricing that is too low as “we’re a small company”.
- Make decisions purely based on experience and not a recognition of the status quo and the current environment.
- Yearn to create new products before really exploring and investigating alternative ways to grow our business.
- Neglect resources in front of us whether it be people, partnerships or publicity.
- We often shoot for the moon or follow the “shiny” things instead of picking up the business shovel.
- Let our knowledge gap become a hindrance by making emotional rather than logical decisions at times of need.
I could list many more. The point is that often we are trying to create something new as we are entrepreneurs. We are creators and it’s certainly a lot easier to create something new; rather than to mine for the gold in our own team, proposition or process/
In essence, we neglect opportunities to reignite or uncover already existing momentum in our plans and businesses.
What is the moving train technique?
The moving train technique is a phrase that I coined to describe how people, partners and customers like to jump on a moving train. They like to back something that is already moving and has momentum and where we can see a realistic improvement in that plan or endeavour. Here are a couple of examples:
Hiring A New Account Executive:
How would you like to join a team where you had a Top 200 prospect list with customer names, contact details, previous communication and their key challenges and issues? Often we hire salespeople to create brand new pipeline rather than enlist them to do what they are here to do, sell and convert prospects to customers.
Hiring A New Marketing Manager:
You want to build out a resource or education part of your website which involves creates plentiful content including ebooks, whitepapers, videos and blog posts. What about creating a top 50 questions that your clients have including pricing, problems, reviews and comparisons, best of, big trends, mistakes and secrets. You can even go one step further and create a provisional workflow, branding, a guided screenshare for uploading the articles into the relevant part of the website. Then once you have this you could then go out and hire your new Marketing Manager and say can you amplify and expand on our original ideas and content?
Hiring A New VP of Sales Or CRO:
You are hiring your first VP of Sales as a tech firm and want them to hit the ground running. You design the “real job spec” to include outcomes, activities, skills and character required. Ok, sounds simple. Now what you can do is create a provisional 90-day plan as to where you see the potential improvements could be made, the attributes of the staff, real opportunities to close revenue in the pipeline and ask them what do you think of this project?
A lot of people talk about how they “love to back a winning horse” but we hardly ever do so in our business. And in any case this metaphor is limited. We love to back things that have momentum – things that are moving forward. Life is really about progress and hence it’s human nature to want progress and to follow others that are engineering or experiencing progress. We neglect this common trait in our everyday lives.
We have ushered in an era of experimentation to create amazing and innovative products in our sector. Sometimes with the fundamentals of sales, marketing and account management we have lost a sense of clarity and direction in our actions.
Implementing The Moving Train Technique
Here’s my advice for ushering in and leveraging the moving train technique in your own business and life:
- What is an action or step that I could complete in the next 2 weeks to amplify the results of my new plan, strategy or hire?
- What are the resources that we have immediately available that we can leverage to make this so much easier when it comes to crunch time?
- Where are the resources in our business that we’ve neglected or not made the most of in the last 6 months?
I hope you found this article interesting. And I’m pleased I finally got round to writing it after much persuasion. I know we could all reduce complexity to free up resources, time and accelerate our results. This is my wish with the moving train technique is that you focus on gaining momentum and then asking other people to join your tribe.
I’m grateful to say that this is what my company Sales for Startups does each and every day. We help technology companies scale their sales results by making tactical changes that have a meaningful and lasting impact.
I’d be interested to hear about what occasions have you used initial momentum to tackle seemingly insurmountable tasks.