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from TradeBriefs FMCG Daily Newsletter

Sree Vijaykumar

From the Editor's Desk
Think of activities as a funnel. Every new opportunity and every door opened is at the "top end of your funnel" meaning that may or may not come to fruition: A business development conversation, a first customer meeting, the first candidate in a recruiting process, the first time you talk with a journalist or the first meeting to consider your business strategy. Having interesting and frequent opportunities at the top of your funnel is important, of course, but the ultimate score is only measured on the bottom end of the funnel. Meeting with 12 biz dev targets makes for great conversations with your board but doesn't matter if none of them close in the end or if you don't get the right deals done. Meeting a lot of candidates to find your head of marketing is all well and good but if 3 months later you still have no one in the role you're still down a person. Taking tons of VC meetings is relatively easy but getting 1 or 2 to truly engage is much harder and takes total focus. The amount of time it takes to move along a few things forward in the bottom of your funnel is disproportionately long and hard relative to the time and ease of each new top-of-funnel activity, which is why many executives allocate their time on the wrong things. We all know executives who constantly talk a good game about vision and the things they're going to do but actually never seem to deliver results. Eventually the bullshitting wears thin. People chase shiny objects precisely because opening is orders-of-magnitude easier than closing. More here

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