sales best practices: how we grew our msp 10x in 5 years
TRANSCRIPT
Sales Best Practices Webinar
A conversation between Larry Garcia & Eric Dosal
Join in on our conversation
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Eric Dosal Co-Founder, CEO
Larry Garcia Director of Sales
A Little About Eric & Compuquip
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Reve
nue
Time
$8.8MM
$800K
BIG EXIT
A Few Opening Thoughts…
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What Metrics Should I Look At?
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Metrics Should Match Role/Question
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Sales Activities
• Sales Reps • Calls Completed • Next step on an opp • Attainment vs Plan
Sales Objectives
• Managers • Adding Customers • Type of Revenue • Growing ASP
Business Results
• Owners • Revenue • Growth Rate • Overall Trends
Sales Activities drive towards Sales Objectives which help achieve your Business Results
Put a Sales Process in Place
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Tip: Each Opportunity Must Have a Next Step!
Our Old Sales Process
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Tips on Building a Sales Process
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¨ Need to track activities, contacts and opportunities ¨ Doesn’t have to be fancy but you need something ¨ The process must be repeatable & documented ¨ Each opportunity needs a next step (TRUST ME) ¨ The data gleaned from your process is invaluable
V.E.T.A Approach To Sales Metrics
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Volume # and $ of deals at each stage
Efficiency % of deals that move to the next stage
Time How long does it take at each stage
Activity What actions to drive it to the next stage
Monitor Your Sales Process
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Customer Sales Dashboard
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Customer Sales Dashboard
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Rainmaker Commits The Firm
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Tips on Rainmaker Sales Approach
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¨ Historical “farmer model” did not work for us ¨ Farming moved to Customer Success ¨ Hunter model of working solo also failed ¨ Can’t justify the high sales pay for Managed Services ¨ Executive to Executive sales to build trust ¨ Similar to Accounting & Law Firms
Simplify The Contracts
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Tips on Simplifying Contracts
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¨ Make the Contract a Marketing document ¨ Explain the VALUE they will get, not the techie work ¨ Simplify the T&Cs, they are just a hurdle ¨ 3 Year deals with 6 month termination clauses (GOLD) ¨ Don’t forget the annual increase 3% - 5% (GOLD2)
Monitoring Your Contracts
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Prospecting for New Business
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Tips on Prospecting
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¨ Research is key, the tools are there (LinkedIn, Refresh) ¨ Yes’ are good, No’s are great, “No Reply” is the worst ¨ Predictable and repeatable processes (7 x 7) ¨ Referrals are easy sales, all you have to do is ASK! ¨ Don’t forget about old leads, put a process in place
Rapid Fire Topics
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¨ Differentiate Yourself with Transparency ¤ Share the good, the bad and your commitment
¨ Maintaining Negotiating Power ¤ Get commitments at each stage in the process
¨ Handling Objections ¤ Be prepared, you should know what’s coming ¤ Practice ahead of time
Let’s Keep The Conversation Going
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Eric Dosal Co-Founder, CEO [email protected]
Larry Garcia Director of Sales [email protected]
How BrightGauge Works
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