Maximize sales growth revenue for accounting and tax

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is revenue the same as sales and why do we as sales professionals need to be concerned about revenue and what is the importance of the difference if there is a difference between sales and revenue well i'm going to answer all of these questions and much much more on this episode of the inside bs show hi my name is dave lorenzo and this is the show that takes you inside business strategy we share all the insider business secrets with you and today we're talking about revenue and sales and the question you asked me specifically is is revenue the same as sales so i've got six really important points that i want to make for you about revenue and sales and then i have a bonus tip for you and this is a huge secret that will put you on top of the heap in terms of business growth whether you're an entrepreneur the ceo of a company or someone who's in professional services and you just want to run your professional service practice like a business so let's dive into the content let me give you the six things first and then i'll share the big secret with you at the end so is revenue the same as sales in accounting terms no it's not but in sales training the terms are used interchangeably so if i'm teaching a class and i say you want to grow your sales i may say you want to grow your revenue so what's the difference between sales and revenue that's what we're going to explore today just know that if you're a sales leader or you're talking to a sales team it's okay for you to use the terms sales and revenue interchangeably that's fine if you're an accountant you don't want to do that if you're talking to an accountant or if you're married to an accountant you never want to use the terms sales and revenue interchangeably all right the second point i want to make about this is that sales is an active pursuit of income so sales is an active pursuit of funds to come into the company if you're talking about revenue revenue may also include other things and we'll get into what some of those other things are in a moment but for sales purposes if we're talking about the money that comes from what we do what we do is is an active pursuit of our money of our revenue the third element of sales versus revenue is that you can look at sales as getting your product or your service into the hands of a potential client so since sales is the active pursuit of those clients and their money it really means that you have to make sure that you secure the client relationship and you bring the client relationship on board and then the funds are paid the fourth point and i alluded to this earlier is that revenue includes some passive income so you may have revenue that comes from the rental of your equipment so for example the video team that works with me comes to my studio or they go to a location and they film the episodes that we're doing now if i didn't need the crew but i needed the equipment these folks would rent me their equipment they'd rent me the camera they'd rent me the boom microphone they'd rent me the monitors and that would be considered rental revenue but it would go into the overall revenue of their company but it wouldn't be revenue that is derived from active sales now on the profit and loss statement for the rental side of their business there may be a line at the top that says sales but ultimately the income to the entire company it would be lumped in sales and rental income would be lumped in together as total revenue so revenue includes some type of passive income and this is the fifth point that i want to make revenue is the top line the tippy top line on an income statement so when you hear people referring to the top line that's revenue that's the total funds that have come in to the organization if you want my opinion now we're getting into point number six the fastest way to grow revenue is simply to sell more so if you're in a company whether it's large or small if you're in a professional service business and you need ten thousand dollars fast the easiest way to get the ten thousand dollars is pick up the phone call your current clients figure out what you can do right now for your current clients that will help you earn the additional ten thousand dollars offering to help clients in exchange for money is sales so sales is the fastest way to grow revenue so before we get into the big secret i told you i'd share let me recap to make sure that we're all on the same page first in sales training terms revenue sales they're used interchangeably in accounting they're not in accounting they're two completely different things second sales is the active pursuit of income somebody has to sell something before anything happens that's active sales is the active pursuit of income third sales is getting your product or your service in the hands of a client getting the client engaged getting the client to work with you fourth revenue includes passive income it can include eq equipment rental it can include facilities rental it can include payments that are made or interest revenue includes passive income fifth revenue is the top line on an income statement it is the thing that everything is compared to percentage of your revenue the sixth thing the fastest way to grow your revenue is to sell more so now we're up to the big secret if you want your revenue to be predictable you have to have an organized consistent sales process and i've got an organized consistent sales process for you my sales process is called the revenue roadmap you can download it for free go to revenuerroadmapguide.com revenuerroadmapguide.com enter your contact info you can download my sales process this will help you grow your revenue in fact when you look at the revenue roadmap guide i even teach you ways to gain passive income so that you can get sales active income and revenue passive income revenue roadmap guide dot com go to that website right now and download your way to more sales more revenue active and passive income for you and for your business and now if you want a great description of how you can use that revenue roadmap to make more money scroll down to the video right below the video below me right now is how to develop a 360 degree marketing plan but it is your guide to more sales and more revenue so you don't have to worry if revenue is the same as sales watch this video right now