The latest episode of Co-Founder’s Corner;

Building Revenue Whilst Building your PoC

In this video, we’ll be discussing about how you move from product development into revenue traction.

I hear a lot of customers, especially those in the 350K to £1million in revenue bracket, saying that “in six months time we’ll be ready to sell”. This is not the right strategy, you won’t be able to scale the rate you want without market testing your products.

I think first and foremost you need to think about how you can drive value to those customers in those proof of concepts.

Number two is, once you’ve got those proof of concepts what are you actually doing with the customers in that engagement?

Thirdly and finally, what is it are you doing that is different in the market? And therefore building your value prop off the back of the success and the proof of concepts.

I’d love to hear more about how you’re using proof of concepts to engage with your audience and building out your value prop. Please comment below and I’d love to engage with you.

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The latest episode of Co-Founder’s Corner;

Key tips to Creating a Simple Sales Process

Welcome to the latest episode of Co-Founders Corner, and today we’ll be discussing the Sales Process.

This is often something that many companies get wrong and in honesty, lots of people over complicate. I’ve seen anything from 12 stages, to nine stages, to six stages to even (my preferred) five.

I think when setting up a sales process there are a couple of key elements you need to consider:

  • The first is just getting the stage names right. They need to make sense to your reps, they need to
    make sense to your customer buying process.
  • Stage two is to map out what activities are required at each stage of the process
  • Stage 3 is actually reviewing the success of the sales process, and seeing how your reps adhere to the process (because a lot of reps will believe in the process at first but won’t actually follow it month-in, month-out!)

I’d love to hear what kind of sales process you’ve built within your company and what’s proved effective, time-in, time-out.

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The latest episode of Co-Founder’s Corner;

5 key areas on how to accelerate your growth

 

Welcome to the latest video from Co-Founders Corner. In this video we’ll be talking about how to accelerate your growth from 500k to five million.

There are so many parts in which to scale a successful company and I’m only going to touch on a couple. But I wanted to leave you with a short list of actually how you can track your progress and move the needle time and time again in your company.

Here are the 5 key areas:

  1. Look at your average value deal – How much are you selling your product for on average?
  2. What is your deal volume? How many deals do you have at each stage of the process?
  3. What’s your close rate? From discovery core to close, what does that look like today?
  4. What is your activity rate? Look at what deals are getting attention each month and don’t let two weeks go past without having a plan to engage.
  5. What is your time to close a deal. – looking at the number of which first initiation point to close.

I’d love to hear more from you about how you’re the airboss, the general, the conductor, call it what you like. Leave any comments below, we would love to know your thoughts.

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The latest episode of Co-Founder’s Corner;

5 key areas you need to focus on when making the scale.

 

The latest video from Co-Founders Corner James will be discussing how you can move from five to fifteen million and how to accelerate your revenue up.

From five to fifteen million is one of the most challenging times for any technology company. You’re moving from initial traction point into a serious operation that is starting to scale rapidly.

Here are the 5 key areas you need to focus on when making the scale:

  1. What is your average customer to date? Not only in terms of value, but in terms of time to close.
  2. What are your top 20% of customers producing for your revenue?
  3. What are your top 20% of sellers producing for you. I’m looking at what the inflexions points are there.
  4. What is your time to close each deal as one?
  5. Where is your international split as well? Where is your business coming from, where you can double down in scale?

But finally, you’ve reached a point where you’ve started to maximise the return from your people and you’re really trying to scale up your operations, and this is often giant to term.

I’d love to hear from you, if you’re in that five to fifteen million bracket, what are some of the challenges you’re experiencing when it comes to scaling from five to fifteen million? Leave any comments below, we would love to know your thoughts.

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The latest episode of Co-Founder’s Corner;

3 key steps to managing the risk of the top 10 performers

In this new episode we’ll be discussing about how you manage risk for your top 10 performers!

I often see a real risk within the companies we operate when the top 10 producers are producing between 67 and 75% of all their revenue.
For a 10 to 25 million pound company, that’s a huge risk!
It means that almost 1.25 million is existent within one producer’s revenue record. So if you were to lose this individual, you’d be at huge risk to your business.

Here are three key steps to managing the risk of these top performers:

  1. Treat these top 10 as rock stars. These are massive assets to you. And why would you treat someone differently if they were producing an average of 1.25 million?
  2. Have good system in place in terms of CRM and a manage system that can look out the records and their customer conversations.
  3. Aligning incentives to the particular individual.

This is not a catch-all strategy, so make sure you have tailored and bespoke solutions to your top performers.

I’d love to hear more about how you incentivize your top performers and how you manage the risk of engaging with them each month. Please comment below, I’d love to discuss it with you.

If you’d like to see more sales and strategy tips for CEOs don’t forget to subscribe to our YouTube Channel.

 

The latest episode of Co-Founder’s Corner;

4 key areas on How SDRs can create opportunities rather than appointments

 

In this video we’ll be discussing how SDRs can create opportunities rather than appointments.

This is a key fundamental difference. You can have SDRs creating appointments that are often marked in qualified leads or you can create an SDR who generates opportunities time and time again.

When you’re looking at your sales process you need to think:

  1. Do you want the SDRs to create opportunities that are gonna create traction in your sales process.
  2. What is the handover between an SDR to the AE.
  3. Are they being incentivized for the creation of opportunities as well as for the deal being closed?
  4. how are you training SDRs to be even better and nurturing these leads into opportunities?

I’d love to hear more about how you’re getting your SDRs to create opportunities rather than appointments. Please comment below, I’d love to discuss it with you.

If you’d like to see more sales and strategy tips for CEOs don’t forget to subscribe to our YouTube Channel.

The latest episode of Co-Founder’s Corner;

3 key areas on how long your Sales Process should be 

In the latest video from Co-Founders Corner, we will be discussing how long a sales process should be!

This is a question we get asked a lot by our clients and there’s no right or wrong answer. I’ve seen anything between two months and 12 months. But there are a couple of key things I would keep a very close eye on, in terms of improving your sales process length.

  1. How clear are your stages within the sales process? And how bought in are your reps to those stages?
  2. What are the required activities within each of those stages to move a deal forward?
  3. What does your time to close look like? How long is a deal taking to take from initiation to close?

I’d love to find out more about how you look at your sales process and improve the length of time to close.

Please comment below, I’d love to discuss it with you.

If you’d like to see more sales and strategy tips for CEOs don’t forget to subscribe to our YouTube Channel.

The latest episode of Co-Founder’s Corner;

Key areas on How to hire successful Sales People 

Do you want to hire excellent sales people?

There are so many articles written on this. But, I don’t want to talk to you about the exhaustive process that is required in order to hire the best salespeople. But, I will give you a couple of key fundamentals when trying to hire excellent salespeople.

  1. You need a salesperson who’s analytical in their nature. I call it the forensic scientist.
  2. Evaluating whether the hunger and drive to take knock backs and challenges in their stride.
  3. Evaluating their skills, the areas of listening, great questions or questioning skills.
  4. Are they are open to criticism?

I’d love to find out more about hoe you hire your salespeople and what changes you could make when you next hire,

Please comment below, I’d love to discuss it with you.

If you’d like to see more sales and strategy tips for CEOs don’t forget to subscribe to our YouTube Channel.

The latest episode of Co-Founder’s Corner;

3 key areas on how to assess a great salespeople

Do you need experience to be successful in enterprise sales?

I know for a fact five years ago I thought it was an absolute prerequisite. I’m pleased to say that both myself and others have tackled this challenge in the last five to 10 years. And it’s proven that one does not necessarily need experience to thrive in this environment. We were with a customer the other day where it was their first ever quarter in sales and they achieved over 200% of target.

This can be done. There are a couple of key fundamentals though when assessing salespeople and looking at their experience within the market:

  1. Are they open to criticism? And can they take feedback properly?
  2. Are they willing to invest in their own development in terms of time and effort to be a better salesperson?
  3. Do they have great listening skills? And are they able to listen to customers’ needs and convert them into a solution that matches their needs?

I’d love to find out more about how you’ve dealt with people with no enterprise sales experience and what have you found to be the challenges when doing this.

Please comment below, I’d love to discuss it with you.

If you’d like to see more sales and strategy tips for CEOs don’t forget to subscribe to our YouTube Channel.

The latest episode of Co-Founder’s Corner;

4 key areas on What metrics you should measure each week

In the latest video, I’ll be discussing what metrics you should measure each week!

So many people have lots of opinions on this topic. I’m not saying mine’s the best way, but I am using an implementable framework you can use week in, week out.

  1. The first thing you need to be tracking is the deal volume.
  2. You need to be looking at pipeline value in each of these stages.
  3. You need to be looking at average deal value within each of these stages from week to week.
  4. You need to be looking at, what is your activity rate of your deals?

This is so you can spot any bottlenecks, whether that’s in terms of age of the opportunity, or opportunities not given due attention they need.

I’d love to find out more about how you manage this process and how you navigate the complexities of this topic.

Please comment below, I’d love to discuss it with you.

If you’d like to see more sales and strategy tips for CEOs don’t forget to subscribe to our YouTube Channel.