Improving the go-to-market process with standardized services
As every Friday, Mattias shares the summary of the week and his weekly self-inventory. This week he's also talking about how to avoid the cash suck by standardizing services.
The weekly summary:
It was a full house at iGoMoon this week! Three new people joined the team: Markus (designer), Ebba (inbound marketing consultant), and Yusrah (inbound marketing consultant). Also, Marina became part of the crew as a marketing automation intern. Due to all the new people, it was an intense onboarding week. Mattias also continued to work closely with Mathilda, the new HR person who is making great progress and is helping him a lot.
What could I have done differently?
In this regard, Mattias shares his thoughts about standardizing services. iGoMoon has put a lot of work into that to be able to charge its customers upfront since this method of progress billing has a positive effect on the cash flow cycle. An excellent example of one of those standardized services is the discovery workshop that iGoMoon does with its customers to set the right goals and understand the resources and technologies needed to realize those goals.
After six months, the team usually does a second discovery workshop to recalibrate the partnership. At the same time iGoMoon's sales team closes such a deal for a discovery workshop with one of their customers, they sign off the contract and send the invoice to the customer.
Mattias realized that those contracts need to be improved. He noticed that the sales team sometimes uses different terminologies in their contracts, which can confuse the customer.
It's essential to standardize the services and standardize the contracts to avoid the cash suck.
What did I learn?
iGoMoon is making great progress with its work regarding the go-to-market process. They are now getting closer to offering three options to their customers who'd like a long-term partnership with iGoMoon. They are currently developing support services and offering HubSpot experts to their customers. In addition, the triangle of growth packaging is also being updated. For Mattias, it is essential to offer clear packages to his customers, so they know exactly what they will get. It's especially crucial when additional salespeople will join shortly.
This week's kudos go out to Dennis for closing 13 (!) sales meetings this week. Also, Henrik has an impressive quote in the making for which he deserves kudos as well. Åsa also did a great job this week and showed a great attitude. She is always part of the solution and eager to learn.
💡 EPISODE TAKE AWAY
Standardize your services to avoid the cash suck.
How do you standardize your services? Let us know if you want to learn more about how Mattias is standardizing the services at iGoMoon.