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EP11: Growth Model Series Part 3: Driving Revenue
“There are systems that deal with processes and repetitive tasks. But sales deals with human systems and human systems are far more complex.”
Mike Mark (8:01-8:12)
Business owners can end up in a position where their revenue depends on them showing up every day. Business revenue expert Mike Mark refers to this as the Sole Revenue Generator Dilemma. He helps business owners pull themselves out of the sales process so they can focus on scaling and optimizing their businesses.
The Salesperson vs. Employee Mindset
The average employee values security, safety, and stability in their work. But salespeople value freedom and fulfillment. The process of finding, hiring, training, and managing salespeople is going to be much different than hiring support staff or an advertising team.
“Salespeople are more like entrepreneurs than they are like employees, and the best salespeople actually don't need jobs.” - Mike Mark (5:44-5:52)
Hiring an effective salesperson is more complicated than simply checking off boxes on your list of qualifications. Sales deals with human systems that are more complex than other systems involved in your business operations. In order for business owners to overcome the Sole Revenue Generator Dilemma, they need to attract high-caliber talent, train that talent, and then set up the systems to manage them while building that culture into the organization for long-term success. But too many entrepreneurs wait until there are fires to put out before hiring a sales team that generates the revenue they need.
Hiring the Right Salespeople to Drive Revenue to Your Business
Talented salespeople aren’t actively looking for jobs. So you need to learn how to pull the best talent away from whatever they’re currently working on. Many business owners try to find people who are just like them or share similar traits or beliefs. Hiring in your own self-image can cause you to ignore the most qualified candidates. The best salespeople won’t always be someone you’re going to like. What matters is that they have what it takes to drive revenue to your business. You have a choice between hiring someone who is a natural-born seller and someone who has had to learn how to sell.
The Many Functions of Sales
The selling process consists of multiple functions - lead generation, conversion, and client management, to name a few. The person who fulfills one role may not be the right person to fulfill the others. Today’s businesses will have a Sales Development Representative (SDR) who generates leads and sets up appointments. The Account Executive (AE) is the closer. Their job is to convert the prospect into a paying client. Finally, the Client Success Manager (CSM) has the job of making sure that the client achieves success. They help the client continue to succeed through the use of upselling or cross-marketing offers that further meet their needs.
“You have to think beyond boundaries to be an effective salesperson. You have to take prospects from different places through the sales cycle to a place where they are ready to pay you money.” - Adam Rundle (7:15-7:27)
What are the components of your sales cycle? How predictable are the results you achieve? Driving revenue comes down to more than just having more salespeople on your team. You need the right people, and you need to have a clear understanding of your sales cycle. When you bring high-caliber talent into your team, you can remove yourself from the sales process and invest your time and energy into growing and scaling your business for the future.
How to get involved
If you would like more information about ABR, and the success businesses have gained through their work with the firm, visit their website.
If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!
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By Adam Rundle“There are systems that deal with processes and repetitive tasks. But sales deals with human systems and human systems are far more complex.”
Mike Mark (8:01-8:12)
Business owners can end up in a position where their revenue depends on them showing up every day. Business revenue expert Mike Mark refers to this as the Sole Revenue Generator Dilemma. He helps business owners pull themselves out of the sales process so they can focus on scaling and optimizing their businesses.
The Salesperson vs. Employee Mindset
The average employee values security, safety, and stability in their work. But salespeople value freedom and fulfillment. The process of finding, hiring, training, and managing salespeople is going to be much different than hiring support staff or an advertising team.
“Salespeople are more like entrepreneurs than they are like employees, and the best salespeople actually don't need jobs.” - Mike Mark (5:44-5:52)
Hiring an effective salesperson is more complicated than simply checking off boxes on your list of qualifications. Sales deals with human systems that are more complex than other systems involved in your business operations. In order for business owners to overcome the Sole Revenue Generator Dilemma, they need to attract high-caliber talent, train that talent, and then set up the systems to manage them while building that culture into the organization for long-term success. But too many entrepreneurs wait until there are fires to put out before hiring a sales team that generates the revenue they need.
Hiring the Right Salespeople to Drive Revenue to Your Business
Talented salespeople aren’t actively looking for jobs. So you need to learn how to pull the best talent away from whatever they’re currently working on. Many business owners try to find people who are just like them or share similar traits or beliefs. Hiring in your own self-image can cause you to ignore the most qualified candidates. The best salespeople won’t always be someone you’re going to like. What matters is that they have what it takes to drive revenue to your business. You have a choice between hiring someone who is a natural-born seller and someone who has had to learn how to sell.
The Many Functions of Sales
The selling process consists of multiple functions - lead generation, conversion, and client management, to name a few. The person who fulfills one role may not be the right person to fulfill the others. Today’s businesses will have a Sales Development Representative (SDR) who generates leads and sets up appointments. The Account Executive (AE) is the closer. Their job is to convert the prospect into a paying client. Finally, the Client Success Manager (CSM) has the job of making sure that the client achieves success. They help the client continue to succeed through the use of upselling or cross-marketing offers that further meet their needs.
“You have to think beyond boundaries to be an effective salesperson. You have to take prospects from different places through the sales cycle to a place where they are ready to pay you money.” - Adam Rundle (7:15-7:27)
What are the components of your sales cycle? How predictable are the results you achieve? Driving revenue comes down to more than just having more salespeople on your team. You need the right people, and you need to have a clear understanding of your sales cycle. When you bring high-caliber talent into your team, you can remove yourself from the sales process and invest your time and energy into growing and scaling your business for the future.
How to get involved
If you would like more information about ABR, and the success businesses have gained through their work with the firm, visit their website.
If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!