There are three parts to a world-class revenue system:
Most companies have some of these components, but few put all the pieces together effectively. In fact, you don’t have to build a world-class system to build a successful business. However, the cost of not implementing a revenue system is significant. It can kill a company early and is the primary driver of growth stalls for established businesses. It is hard to figure out what is going wrong when you don't have visibility.
The purpose of a revenue system is to provide a structure and process that provides the visibility you need to consistently deliver revenue. It should also be agile enough to react to changes in the market.
World-class revenue systems are:
The number one predictor of success in sales is consistency. The best way to create consistency is follow a plan set up to achieve your goal(s). For revenue, this requires a consistent process (sales cycle) with metrics across the cycle (funnel metrics). This turns the sales process into an equation that you can recreate week after week, month after month, etc.
There will be short-term variation, but the equation should work over the long run (quarterly, annually, etc).
The system is replicable when it is independent of any specific individual. A common mistake is for companies to rely on one (or a few) rockstar salespeople to deliver results. That is great while they are with you, but leaves you exposed if they leave.
A replicable system allows new team members to apply the processes created by the system and succeed. The best systems allow you to plug n play 50-75% of the team and see similar results.
Your system is scalable when you can apply the system to a new market. This could be a new geography, industry, user persona, etc. The existence of the system doesn’t guarantee success in a new market, but it makes it significantly easier to adapt it to the new market. It gives you the confidence from which to test and build.
A world-class revenue system provides leadership with the consistent insight required to manage the business effectively and feel confident making decisions. It also benefits employees by giving them clarity and consistency- a "map" for how to operate. The business will be better and the results will show that.