It isn't news that 2024 has been hard - but there are potential green shoots of recovery.
The last 12 to 18 months, maybe longer, have been some of the most volatile I've seen in over 20 years of consulting.
Decision-making has slowed to a crawl, market momentum has been almost nonexistent, and consulting businesses have felt the squeeze.
So it's no surprise that many have not survived 2024, a year that has tested even the best companies.
So, first things first.
If you've made it this far, surviving to 2025 is a victory in itself.
Ego has no place here; if you've weathered this storm, you're already in a strong position.
Take a moment to dust yourself off and refocus on what's ahead. Anything beyond surviving this year is a bonus, given the economic challenges we've faced. And while 2024 was about survival, 2025 can be about growth.
But how do you prepare to thrive in 2025?
There are a few keys that you should be prioritising now to set your business up for success and hit the ground running at the start of the new year.
1. Set the right strategy for your middle of funnel
The middle of your funnel is where your most active opportunities are today. It's also where you're likely to see the fastest revenue from new business. Yet, it's often the most neglected part of your sales pipeline. Many leaders assume that once a prospect is in the funnel, they'll move through it—this is a dangerous misconception. The middle of the funnel can be messy, and it requires careful management.
What can you do to fix it?
- Get your process right - Align your middle-of-funnel processes with the unique needs of your business.
- Put the right people in place - Ensure the right roles and responsibilities are clearly defined and matched to the right people.
- Restructure your CRM - Review and refine your pipeline stages. Most businesses need more pipeline stages than they realise and should reflect a detailed sales workflow that is more practical.
- Build a rhythm for follow-ups - Create a follow-up strategy that adds value, not just reminders. Your follow-ups should serve a purpose for the prospect, not just you.
2. Solve your Top-Of-Funnel demand engine
Most businesses struggle to generate scalable and predictable demand at the top of their funnel. Why? It's a daunting space—no one wants to come across as spammy, so the tools we have available are often underused or misapplied. Moreover, many businesses rely too heavily on their sales or business development teams to prospect, but buyers don't want to talk to salespeople.
What can you do to solve it?
- Embrace scalable tools - There are powerful prospecting tools available, so use them to your advantage.
- Leverage your subject matter experts (SMEs) - Instead of sending out traditional salespeople, put your SMEs at the front of your top-of-funnel activity. Get their faces and expertise out in the market.
- Systemise your top-of-funnel engine - Consistent, repeatable processes are key to predictable top-of-funnel success. Make sure your efforts are both structured and sustained.
3. Focus on channels you can control
Too many businesses rely on passive channels that may appear to generate a better return, such as referrals, inbound leads, and SEO. While these are valuable, they are not controllable, scalable, or predictable. Relying solely on passive channels is a gamble.
What can you do to solve it?
- Find the balance between inbound and outbound - Don't lean too heavily on passive channels; invest in active outbound efforts.
- Activate outbound channels now - If you're not already running outbound campaigns, now is the time. Outbound takes time to show a return, so start building now for future success.
- Own your demand generation - Focus on channels you can control, like demand generation and scaled outreach. These are the activities you can directly manage and optimise.
4. Prioritise gateway products
Many businesses are focused on selling their "big" offerings, but this approach typically comes with longer sales cycles, slower revenue capture, and more competitive pitches. Gateway products—smaller, quicker-to-sell solutions—offer a more effective path to faster wins.
What can you do to solve it?
- Sell gateways first - Focus on faster sales cycles with smaller offerings. This approach allows you to capture revenue more quickly and start building trust with clients early.
- Leverage gateways to build credibility - By delivering value through gateways, you can establish your expertise and secure more substantial work later.
- Generate proof points - Gateways lead to quicker case studies and tangible proof of success.
- Match gateways to delivery gaps - They're easier to deliver and can help you fill resource gaps in your existing workload.
5. Don't Sell - Add value
In tough times, it's easy to fall into the trap of hard selling. But here's the reality: no one wants to be sold to. Aggressive tactics turn prospects off, and in a high-ticket, consultative market, this is the wrong approach.
What can you do to solve it?
- Adopt a 'Don't Sell' strategy - Stop trying to close the sale at every touchpoint. Instead, focus on adding value in each interaction.
- Create buyability - Instead of pushing for a sale, cultivate a desire to buy. Position yourself as a trusted partner who understands their problems and can solve them.
- Play the long game - If you focus on adding value in the long term, the short-term wins will come naturally.
- Counterbalance with pipeline scale - Don't sell aggressively, but ensure your pipeline is large enough to maintain momentum even with a longer buying cycle.
Let's wrap this up
Preparing for a Strong 2025
As we head into 2025, it's time to lay the groundwork now. Between now and the end of the year, business leaders should:
- Optimise their middle-of-funnel processes for faster revenue capture.
- Build a scalable, systemised Top-of-funnel demand engine.
- Focus on outbound channels they can control and begin activating them immediately.
- Prioritise gateway products for quicker sales and relationship-building.
- Shift from hard selling to a value-added "Don't Sell" approach.
2024 has been a year of survival, but those who prepare strategically will find 2025 ripe with opportunities for growth. Stay focused, stay disciplined, and remember: survival is already a win - now it's time to position for the next big step.