Two Tall Guys Talking Sales Podcast – Adapting Sales Strategies in a Changing World – Episode 32

Two Tall Guys Talking Sales Podcast – Adapting Sales Strategies in a Changing World – Episode 32

By soshaughnessey0 Comments

In this episode of the podcast, Kevin and Sean discuss the necessity for sales leaders to adapt their advice and strategies in today’s ever-changing environment. With the numerous changes and challenges that businesses face daily, sales leaders must constantly evolve and stay ahead of the curve to help their teams succeed.

The discussion touches on how being a trusted advisor to clients is crucial for success regardless of market shifts and economic turmoil. The ability to understand and professionally empathize with clients and their challenges allows salespeople to guide clients and prospects toward solutions effectively. Emphasizing the significance of leading indicators in sales activities and reframing value propositions according to clients’ perspectives is vital.

To achieve enduring success, sales leaders must instill the importance of understanding a prospect’s business, its competitors, and its market value to the sales team. This will ultimately make them trusted advisors to their clients and help them navigate the complex and ever-changing business landscape.

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Two Tall Guys Talking Sales Podcast – The Power of Service: How Giving Back Can Drive Sales Success featuring Jim Hardwick, Chief Community Officer of Sales Xceleration – Episode 31

Two Tall Guys Talking Sales Podcast – The Power of Service: How Giving Back Can Drive Sales Success featuring Jim Hardwick, Chief Community Officer of Sales Xceleration – Episode 31

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In this inspiring episode of “Two Tall Guys Talking Sales,” the hosts, Sean and Kevin, welcome Jim Hardwick, Chief Community Officer for Sales Xceleration and Fractional VP of Sales.

As a seasoned sales professional with 36 years of experience in healthcare, Jim shares his journey from climbing the corporate ladder to finding purpose and joy in his current role. He attributes his newfound happiness to a paradigm shift towards serving others, a realization sparked by a life-changing trip to Kenya, where he and his wife started a dental clinic.

Discussing the importance of servant leadership in building better sales organizations, Jim emphasizes the impact of serving clients, employees, and the community. He believes that when business owners and sales leaders focus on understanding and helping their employees achieve their goals and aspirations, the entire organization benefits. This approach creates a positive work environment that fosters employee loyalty and drives business growth.

Moreover, Jim stresses the significance of actively listening to employees, valuing their input, and being open to change. Servant leadership, according to Jim, extends beyond grand gestures; it encompasses small acts of kindness and attentiveness, creating a ripple effect that ultimately comes back to the giver tenfold.

In this engaging conversation, Jim Hardwick leaves the audience with the powerful message of giving freely without keeping score and embracing a mentality of service instead of taking. His uplifting stories and passion for serving others will surely inspire listeners to adopt a more intentional and compassionate approach in their personal and professional lives.

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May Newsletter Featuring Information About Fractional Executives

May Newsletter Featuring Information About Fractional Executives

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Fractional Executives Are Better Than Consultants For Driving Valuable Changes in Small Businesses

Fractional Executives Are Better Than Consultants For Driving Valuable Changes in Small Businesses

By soshaughnessey1 Comment

Change is inevitable, and small business owners must constantly adapt to stay ahead of their competition. While traditional consultants may offer valuable insights and recommendations, they often lack the hands-on commitment to implement these changes effectively. A consultant will write a report and presentation to advise management of required changes and then count on management to deploy the advice effectively. More than a report or playbook is usually needed to drive tangible results.

Enter the concept of a fractional executive. This innovative solution provides small businesses the strategic guidance and support they need to grow and evolve. In this blog post, we’ll explore the role of a fractional executive, discuss their benefits, and share tips for finding the right fit for your business.

A fractional executive is a seasoned professional who offers expertise and leadership on a part-time or project basis. These individuals often have extensive experience in their respective fields and can fill critical gaps in a company’s leadership team. From acting as a temporary CEO to guiding sales or financial strategies, fractional executives provide services tailored to your business’s unique needs.

The critical difference between a fractional executive and a traditional consultant lies in their level of commitment. While consultants often deliver a one-time report or set of recommendations, fractional executives are actively involved in the day-to-day operations of your business. They work closely with your team to implement changes, monitor progress, and adjust strategies as needed, ensuring that your business thrives in the long term.

Consultants can create beautiful reports using modern tools like Chat GPT. While a report generated by Chat GPT can provide valuable insights and recommendations for a business, it is crucial to recognize that such a report alone is insufficient to drive meaningful changes. To successfully implement and manage the recommended changes, businesses require a more hands-on and personalized approach that addresses their unique challenges and opportunities. A report can serve as an excellent starting point, but companies must invest in dedicated human expertise to ensure that the proposed changes are effectively integrated into their operations.

A Chat GPT report may be insufficient for driving change because it cannot fully account for the intricacies and nuances of each business. While AI-generated reports can be well-researched and informative, they may need a more profound understanding of company culture, team dynamics, and specific market conditions necessary to develop tailored strategies. On the other hand, a human expert can work closely with stakeholders, employees, and customers to gain a comprehensive understanding of the business’s unique needs and challenges, allowing them to develop and implement more effective change initiatives.

Additionally, change management requires ongoing support and guidance, which a Chat GPT report or an absentee consultant cannot provide. Implementing changes often involves overcoming obstacles, refining strategies, and addressing unforeseen issues that arise during the process. A human expert, such as a fractional executive, can provide the necessary support and adaptability to navigate these challenges and ensure the success of the change initiatives. By working closely with the business daily, they can monitor progress, identify areas for improvement, and make real-time adjustments to keep the change process on track.

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The Art of Motivation: Designing Sales Compensation Plans That Drive Results

The Art of Motivation: Designing Sales Compensation Plans That Drive Results

By soshaughnessey0 Comments

Designing an effective sales compensation plan is critical to any successful sales organization. A well-crafted plan motivates your sales team, drives revenue growth, and aligns the interests of both the company and the sales representatives. 

It’s essential to understand the impact of compensation on salespeople. Sales reps are highly motivated by money, and their income is directly tied to their performance. Incentives such as bonuses, commissions, and accelerators can all play a key role in driving sales performance. However, these incentives can have unintended consequences if not implemented correctly.

This blog post will explore various aspects of creating a successful sales compensation plan, including setting quotas, selecting base and variable pay, using accelerators, and employing rewards and contests. We’ll also discuss strategies for designing effective compensation plans for different types of sales roles and tips for continuously improving your compensation plan.

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Unlocking Your Company’s Potential: The Power of a Strong Sales Organization in Driving Revenue Growth and Boosting Valuation

Unlocking Your Company’s Potential: The Power of a Strong Sales Organization in Driving Revenue Growth and Boosting Valuation

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A strong sales organization is the cornerstone of any successful business. The sales team serves as the company’s lifeblood, driving revenue growth and ensuring long-term financial stability. When a company prepares for a merger, acquisition, or public offering, having a strong sales team can translate into a higher valuation. 

A strong sales organization is the backbone of a thriving business, as it directly impacts revenue generation. When a company’s sales team is well-organized, well-trained, and motivated, they become more effective in closing deals and fostering relationships with clients. This increased effectiveness leads to more sales, ultimately resulting in higher revenues and profits for the company.

By investing in a strong sales organization, businesses can capitalize on opportunities and achieve maximum value. The best sales organizations have a proven track record of success. These teams have established a consistent sales process, streamlined communication channels, and aligned with the company’s overall business goals.

A successful sales team is crucial for driving revenue growth. The following factors contribute to a sales organization’s ability to increase revenues and profits:

  1. A clear sales strategy
  2. A process-oriented approach
  3. High-quality sales training and coaching
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March Madness Teaches Us Great Coaching Techniques

March Madness Teaches Us Great Coaching Techniques

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March Madness teaches us great coaching techniques

March Madness teaches us great coaching techniques

Published: Tue, 03/14/23

—
Sean O’Shaughnessey
CEO and President
New Sales Expert LLC
[email protected]
513.348.8700

6561 Bluegrass Way
Mason OH 45040
US

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20 Activities That a Virtual Assistant Can Perform To Help a Sales Leader Be More Effective

20 Activities That a Virtual Assistant Can Perform To Help a Sales Leader Be More Effective

By soshaughnessey0 Comments

A Vice President of Sales plays a critical role in the success of a business by overseeing and leading the sales team to achieve revenue targets. To be effective in their position, the VP of Sales must be able to focus on strategic decision-making and high-level planning while delegating operational tasks to a capable team. One way to facilitate this delegation is through a virtual assistant, who can perform various functions that support the VP of Sales and the sales team.

A virtual assistant is a professional who provides a range of administrative, technical, or creative assistance to clients remotely. Utilizing digital tools, they can handle tasks such as email and calendar management, data entry, event planning, and more complex tasks such as market research and report creation. This remote support allows business leaders and teams to delegate routine tasks, freeing them to focus on strategic responsibilities and higher-level work. Virtual assistants can work with individuals or organizations across various industries, offering flexibility and efficiency that can significantly contribute to productivity and business growth.

A virtual assistant can alleviate the routine tasks that often sidetrack a VP of Sales from their pivotal duties. Such an assistant could oversee the VP of Sales’ agenda, arrange meetings, and undertake administrative tasks like managing emails and inputting data. This delegation of duties allows the VP of Sales to concentrate on higher-level tasks, such as crafting sales tactics and nurturing relationships with critical clients.

Administrative and operational support to the sales team can also be delegated to a virtual assistant. They can contribute to tasks like lead generation, research, and qualification. They’re also capable of assisting with creating sales reports, managing the CRM, and conducting follow-up engagements with prospective clients post-sales meetings. By rendering these services, the virtual assistant permits the sales team to devote their efforts to their primary responsibilities, including fostering client relationships, closing sales, and driving revenue.

Virtual assistants can also be instrumental in helping VPs of Sales maintain organization and manage their responsibilities effectively. They can aid in preparing for meetings, orchestrating events, and arranging travel. They can also lend a hand in managing expenses and delegating tasks. This support enables the VP of Sales to remain on top of their obligations, leading to increased productivity and effectiveness.

VAs can inform the VP of Sales about industry trends and market intelligence. They can perform market research and competitor analysis, scrutinize sales performance metrics, and deliver insights to facilitate informed decision-making by the VP of Sales. By supplying this crucial information, the virtual assistant empowers the VP of Sales to make strategic decisions that bolster revenue growth.

Most importantly, a virtual assistant can assist the VP of Sales in fostering a robust sales culture. They can contribute to training the sales team on industry best practices, product knowledge, and sales techniques. They can also aid in organizing team-building activities and other initiatives to promote collaboration and teamwork. Through these efforts, the virtual assistant supports the VP of Sales in establishing a successful and efficient sales organization characterized by a powerful sales culture.

20 productivity-enhancing activities that a virtual assistant can perform to help a sales leader be:

  1. Scheduling and managing appointments: A virtual assistant can schedule appointments, manage calendars, and set reminders.
  2.  Lead generation and qualification: A virtual assistant can help with research and identify potential customers, contact them to qualify them, and keep a record of progress.
  3.  Data entry and management: A virtual assistant can manage and organize customer data and sales records, keeping them up-to-date and accurate.
  4.  Email management: A virtual assistant can manage and filter email correspondence, respond to routine inquiries, and forward important messages to the sales leader.
  5.  Social media management: A virtual assistant can manage social media accounts, create content, and monitor engagement.
  6.  Sales report creation: A virtual assistant can create reports on sales performance, market trends, and competitor analysis.
  7.  Proposal and contract drafting: A virtual assistant can help prepare client proposals and contracts.
  8.  Conducting market research: A virtual assistant can conduct market research on industry trends, competitor analysis, and customer preferences.
  9.  CRM management: A virtual assistant can manage the sales leader’s customer relationship management (CRM) system, update records, and track sales activities.
  10.  Call screening: A virtual assistant can screen incoming calls, filtering out cold calls and telemarketing solicitations.
  11.  Meeting preparation: A virtual assistant can prepare meeting materials, including agendas, presentations, and reports.
  12.  Client communication: A virtual assistant can communicate with clients, respond to inquiries, and provide updates on sales progress.
  13.  Sales follow-up: A virtual assistant can follow up with potential customers after sales meetings, and track leads through the sales funnel.
  14.  Sales training: A virtual assistant can help train sales teams on best practices, product knowledge, and sales techniques.
  15.  Event planning: A virtual assistant can assist with planning and coordinating sales events, such as trade shows or conferences.
  16.  Travel arrangements: A virtual assistant can assist with booking flights, hotels, and transportation for sales trips.
  17.  Expense management: A virtual assistant can help manage sales expenses, keep track of receipts, and create expense reports.
  18.  Task delegation: A virtual assistant can delegate tasks to sales team members, follow up on their progress, and ensure timely completion.
  19.  Lead nurturing: A virtual assistant can help nurture leads and build relationships with potential customers over time.
  20.  Analytics and performance tracking: A virtual assistant can help track sales performance metrics, analyze data, and provide insights to help the sales leader make more informed decisions.

A virtual assistant can add significant value to the role of VP of Sales by providing support and assistance that allows the VP of Sales to focus on their core responsibilities. From managing day-to-day tasks to supporting the sales team, providing market insights and analytics, and promoting a strong sales culture, a virtual assistant can help a VP of Sales build a successful and effective sales organization.

Photo by Kari Shea on Unsplash
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Fractional Sales Leadership Increases the Value of My Client by 167%

Fractional Sales Leadership Increases the Value of My Client by 167%

By soshaughnessey2 Comments

A common question that I receive is about the value of adding fractional sales leadership to their company. I typically answer their concern with a story about one of my clients who had a fantastic experience and increased the company’s value by 167% in about 12 months.

The true benefit of the efforts of fractional sales leadership is that revenue and pipeline will increase your company’s value.

Several years ago, I was hired by a fantastic software startup company in the artificial intelligence industry. Their technology had roots in original research by one of the founders at MIT. I was connected to one of the founders, and he approached me to be his Fractional Vice President of Sales as they felt that their technology had progressed to the point that they needed to find early adopter customers.

It was a young company with a small client base and very little revenue, but it clearly understood its offering and the value it could deliver to new clients. I started the engagement with my standard discovery process to identify what value they were providing to their clients or prospective clients. We developed a target persona, and I helped them identify potential clients that fit their use cases.

As I worked with them, I learned more about their backstory. A significant chip manufacturer had wanted to buy the company just a few months earlier. The founders were eager to sell, but the parties couldn’t agree on a price and parted ways. The large chip manufacturer valued the company at about 75% of the valuation that the founders wanted. This offer reminded me of the popular TV show Shark Tank, where entrepreneurs try to arrange investments from 5 individual investors. They rarely agree at the beginning of the segment on the startup’s value; sometimes, they compromise, and sometimes they do not. In this case, the giant chip manufacturer didn’t see the value, just like the Sharks didn’t see the value of Ring.

The owners of my client did what any sound company executives would do. They pushed harder on their business to build its value. They realized that nothing drives the company’s value like revenue and pipeline, so they brought me in to help them.

Fast forward ten months after hiring me, and our pipeline, messaging, sales team, partnerships, and methodologies have improved dramatically. At this point, another chip manufacturer enters the picture and wants to acquire the company and its technology. But now everything in the company is more proven, and the risk is less for the acquiring company. The owners and the new acquiring company agreed quickly on the company’s value. The company was now worth 200% of what the founders initially thought just the previous year. The deal closed quickly and efficiently, with most employees finding great jobs at the new owner while some continued with new and exciting adventures.

New customers, pipeline growth, and team growth caused a dramatic increase in the company’s value. Undoubtedly, the software improved during that year, but much of that improvement was because of customer and prospect feedback. The new chip manufacturer thought the company was worth 267% compared to the previous suitor.

According to the Exit Planning Institute, 76 percent of business owners who sold their businesses profoundly regretted selling within a year. I contend that this is because they agreed to a Shark Tank deal which devalued their company. I think most feel they didn’t get the value out of the company they spent years, decades, or maybe a lifetime building. The solution is to have such a great sales engine that the buyer is begging you to take the offer. Small business owners need to build a sales engine that is so strong that multiple offers are coming in to buy the company. For a while in the US after COVID-19, selling a home commanded over-asking-price offers all over the nation. This seller’s market is the environment you need to create for your company if you want to exit the company in the next 3-5 years.

I help company owners realize the maximum value of their company by improving their revenue generation capability. ​​I help owners enhance their sales management, methodologies, processes, teams, and messaging to accomplish this. Reach out to me so that I can help you maximize your company’s value the way I helped my former client.

Header image by Paul Loh
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Fifteen New Outsourced Sales VPs Join Sales Xceleration as the Need for Fractional Sales Leaders Sees A Big Increase

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SalesXceleration

INDIANAPOLIS, IN – October 20, 2020 – Sales Xceleration Consultants continue to see demand for their fractional sales leadership skills to drive revenue growth for small to mid-sized businesses. We have continued to experience growth throughout North America and beyond as the value is recognized in communities where Sales Xceleration Consultants are located. The combination of our proven tools and platform, along with our Advisors’ extensive sales leadership skills, appeals to business owners from a cost benefit standpoint. 

With fifteen Advisors, the latest group joining Sales Xceleration is our largest yet, and the following individuals are looking forward to serving the business communities in their respective markets:

 “This group of sales leaders will be an excellent addition to our Advisor team. With many businesses looking for areas to make budget cuts, owners realize that getting an experienced sales leader for a fraction of the time allows them to put the processes and people in place to increase revenue without hiring a full-time expensive resource. Our Fractional Sales VPs want to serve their community and take an active role in growing small and mid-sized businesses,” said Mark Thacker, President, Sales Xceleration, Inc. 

About Sales Xceleration

Sales Xceleration provides business owners with an experienced Sales Consultant to drive sales growth when it is needed most. Sales Xceleration Advisors build sales engines to create record-breaking growth for your business by: 

  • Creating Your Sales Plan
  • Finding Your Best Customers and Sales Team Members
  • Growing Your Sales

Our Advisors are here to help and can provide free sales consultations. Visit our online map to learn more about these Advisors or to find an Outsourced VP of Sales© Advisor in your community to navigate your path to more sales now. For additional information, please visit https://www.salesxceleration.com.

PR inquiries:   Maura Kautsky, email:  mkautsky@salesxceleration.com or call 844-874-7253, ext. 703.

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