Momentum. I love looking up the definition of words. I found several definitions of momentum online:
- PHYSICS – the quantity of motion of a moving body, measured as a product of its mass and velocity.
- The impetus gained by a moving object.
- Momentum helps you get over the initial hurdle of not being able to start something and then pushes you through to the end. Momentum helps build positive thinking and energy to help you progress towards your goals.
At WhiteRock, we define momentum very much like above. To us, momentum is gained in our business when a target audience shows adoption in mass of a service that we already know how to do very well. It requires flow to get over a hurdle or to start something. There must be movement. One of my favorite concepts about flow comes from this. In a football game, momentum might be scoring in the final minutes of the first half so that you go to the locker room with positive attitudes to come out and take over. Or, in a baseball game, where the pitcher shuts down the opposing team in the 9th inning to win a game and stop a losing streak.
Obtaining Momentum
How do we obtain momentum in a start-up business or a small business that wants to grow? Let me share briefly WhiteRock’s mindset about the components of momentum, how to sustain momentum, and how to know when there is a momentum shift in your favor.
To know when momentum exists and how to sustain this energy, first, let me share the components in our business to know when momentum has arrived:
#1. Common goal of a team
We had to create a True North plan. Meaning, what are the tangible results we want to gain at a relatively long-term point in time for the company, our team, and our customers? This True North is the road map daily. Based on current data and forecasting from that data, we created metrics that drive our daily behavior. Revenue, gross profit, marketing touches per month by buying persona/industry, MQL/SQL conversions, sales opportunity close rate, and others that might be your True North.
#2 Common formula for Influence
Our formula for how we approach our daily work:
Influence = Mindset + Skillset x Toolset
#3. Measurement of the journey of a suspect
WhiteRock wants to know what the logical path is of acquiring a customer. Our path looks like this:
Suspect
The buyer doesn’t know us but our ideal customer identification process helps us match a suspect that has attributes of our current customers.
Interest/Impression/Influence
Our potential customer has demonstrated these attributes in our marketing message on a channel which they have a recordable event in our system that notifies us at the right time based on a measurable quantity in our system.
Engagement
Our potential customer takes the next step by communicating with our sales development team in several channels and methods.
First Meeting
Our prospect agrees to meet with us so that we learn about their pain point and whether we can solve it based on priority, budget, and similar mindsets. Can we work together to resolve the pain point.
Sales Qualified Opportunity
WhiteRock and the prospect are aligned and we will discover, price, plan, and propose the solution for acceptance.
Onboard and retain the customer
WhiteRock works to perform with excellence and assures that the value received by the customer is equal to or greater than the price paid.
These components together provide the ability to identify when momentum is occurring via a Dashboard that will send a notification when a percentage uptick occurs in any one of these stages of the journey.
Sustaining Momentum
Next, how can your team sustain momentum? Once momentum is reported, the team MUST adhere to a set of principles to “up the game”. These principles are part of a previous post that you can find here. For sustaining the momentum, the team must:
#1. Be consistent
Follow the processes, procedures, and policies in operations and sales that delivered the momentum to you initially.
#2. Don’t get distracted by mistakes
Correct and move on but also understand where and how the mistake took place. Take action to shore up if needed -System error or Team Member error.
#3. Defy complacency
You worked too hard to get the momentum. Stay to your principles and communicate this repeatedly.
There is nothing more deflating than to gain momentum than “go flat”. The objective is to convert momentum to normalized business volume. From your systems, organization, and discipline, determine changes to your team and/or process capabilities and capacities.
Momentum is obtained through hard work that is founded on the business principles as described in recent articles on Healthy Leadership and Influence.
Would you like to have a strategy session with me to learn more about this and how we help?