In this episode, we cover what pipeline debt is, how to pay it off, and how to avoid it moving forward.
Recently we have been asked how to pay for technical debt also known as pipeline debt. First what is pipeline debt? We’re not referring to financial obligations, rather it’s any area of your business you have neglected in order to focus on other, just-as-important areas. For example, you may focus on your paid marketing strategy to push a new product out and then find at the end of the quarter you haven’t put any of your resources or attention into events that have brought you revenue in the past. This is when you have accumulated pipeline debt.
Since life is in a constant state of flux, business and marketing goals are in need of constant review, with change and innovation on the regular. This will allow your business to align with what the market demands are in real-time. When you focus all of your attention on one campaign, or one specific channel you may begin to build up pipeline debt in other channels. So how do you fix it? Listen-in to the series, On The Yard with Televerde, as Xavier Major covers how to get out of pipeline debt and how to stay out for good!
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- How to recognize when there is a debt in your organization
- How to identify critical needs of your business and how to focus attention on those needs without accumulating pipeline debt
- Pinpointing how to fill your pipeline gaps through outsourced vendors, staffing, or shifting budgets
- If you do have debt, how to double-down to get out of debt
- Knowing when the right time is to outsource operations to reduce ramp-up time when launching new products or services
- Tips to stay out of pipeline debt including structured weekly meetings and team goal setting