Honda Indy is coming up in Toronto at the end of this week (July 8-10, 2011); celebrating 25 years I believe. When it comes to Indy car racing, there is no denying the S Factor*. Now most people would consider the S Factor to be “Speed” and some others may take cognizance of “Skill”. In my opinion, there are 2 more critical ones – “Strategy” and the “Squad” (the folks with the fuel, jacks and grease in the pit stop). The speed and skill of the person in the driving seat would be of little use without a sound strategy and a team to offer the right support.
Let’s apply this analogy to demand generation in the world of B2B business. For sure, speed helps, but it is not enough by itself. Jack Welch, Chairman and CEO of General Electric (GE) for 20 years was asked when we retired if there was anything he wished he had done differently during his tenure. He said (paraphrased): (1) do things faster and (2) surround myself with Type A personalities because even though there may be more to clean up, at least things got done. “I think the biggest mistake I made is a fundamental one. I went too slow in everything I did. … If I had done in two years what took five, we would have been ahead of the curve even more.”
For businesses both big and small, becoming “fast and furious” seems to be a general priority. And that’s a good thing, no doubt about it. At ALEA, we strongly believe in moving fast and encourage our clients to go with us so that critical goals are achieved without losing any time.
My advice to companies looking at accelerating their demand generation process is this:
- Focus on speed but ensure proper planning
- Devise a strategy with clearly identified milestones
- Bring your team up to speed with the strategy you want to employ – they are your pit stop heroes
- Remember that lead generation technology (just like your mean machine, your race car) is only a conduit – it can topple or go up in flames without the right manoeuvres
- Get in the driving seat – stay cool, calm and capable – feel confident in your organization’s capabilities, training, ability to perform under pressure and the collective desire to win
Have you had instances where situations and opportunities passed you by because you didn’t act fast enough? Be aware that while speed would have certainly helped, the other S Factors I described above are just as critical. So the next time around, plan your demand generation better, faster, smarter. And you know what, one more S Factor, make it Sexy; make it sell, make it irresistible – just like the Honda Indy. Can you see the finish line?
