When your B2B company provides value to its customers and they reward you by remaining loyal and referring others, you increase the value of your business. That’s why you got into business in the first place, right? Now, the hard question – do you know the valuation of your company today and how to increase that valuation year-over-year until you’re ready to exit? Most business owners feel they know the answer to this, but when it’s time to start exiting, they’re unpleasantly surprised.
In 2019, when Brian Peterson joined Atomic Revenue as a consultant, Atomic Revenue was growing at a rapid pace – from a nationwide, entrepreneurial team of seven, then twelve, then on to 42 within a year. There was no doubt, with our rapidly growing company and unusual structure, we needed his expertise and skillset to develop an operations and finance strategy, and a fine-tuned structure to support revenue growth.
When Atomic Revenue met the AIE management team in 2019, the company was facing a myriad of challenges, including, but not limited to, the fact that most revenue was tied to one client who was contemplating a reduced contract. AIE, also known as Alternatives in Engineering, also had a confusing brand identity, a website security issue, a longer sales cycle than most, trade show spend that was not paying off, and a multi-generational family leadership team taking over the company. Then the pandemic hit, and their largest client did, in fact, minimize their service contract.
In the modern business world, there are certain terms and phrases related to data that are important yet poorly understood because they’re often misused or made to seem overly complex. I’ve clarified the meaning of some of this terminology before, and today I want to talk about one specific adjective that you’ve probably seen countless times on LinkedIn, company websites (including this one), and business publications from Forbes to Fast Company: data-driven.