Same Side Selling Podcast

If someone had spent thousands of hours in the start-up world, particularly in the world of raising capital, would you be interested in what they had discovered? Our guest for today, Mark Modica, is just such a person.

Mark is here to talk about the fundraising patterns he has recognized, what the biggest mistakes entrepreneurs are making when seeking funding, and how to know which type of investor to seek out at which stage of your business. With Mark's catalogue of knowledge on investing and capital raising this is one episode of Grow My Revenue you won't want to miss!

Listen to this episode and discover:

Is all revenue created equally?

How he got an evaluation of $80 million on less than $1 million in revenue.

Do you have to have more customers to get a higher evaluation?

Why raising too little capital is a common mistake.

When should you sell a company?

And so much more!

Episode Overview

The first misconception Mark lays to rest is the idea that all revenue is created equal, something I have said and continue to say to my clients. He explains that it's not so much the amount of revenue or growth as it is your customer base.

For example when he was CEO of Pivot 3, a company in the surveillance market, they grew their revenue in casino market. They could have gone very deep into that market but decided to branch out into other markets so they would have a bigger customer base. They went after clients in industries like airports, transportation, etc. Instead of trying to grow their revenue faster, they grew wider at a slower pace knowing that winning in numerous markets would increase their evaluation.

Some of the other myths Mark busts on today's show are allowing the market to dictate your company's worth, and allowing profitability to be the primary form of evaluation. Rather than allowing the market to dictate your evaluation you have to be able to tell a better story about your company and show the long-term value in what you are offering. Doing so will increase your value in your investors' eyes and allow you to ask and receive more money.

When it comes to evaluations, profitability is the lowest form according to Mark. The bigger a company is the harder it is to show tremendous growth. He breaks it down like this: in the first stage of your company you are creating your brand. In the second stage you are growing your brand, and this leads to the fastest growth. In the third stage you're profitable because you are leveraging your brand.

Discover more at http://www.ianaltman.com/business-cast/

If someone had spent thousands of hours in the start-up world, particularly in the world of raising capital, would you be interested in what they had discovered? Our guest for today, Mark Modica, is just such a person.

Mark is here to talk about the fundraising patterns he has recognized, what the biggest mistakes entrepreneurs are making when seeking funding, and how to know which type of investor to seek out at which stage of your business. With Mark's catalogue of knowledge on investing and capital raising this is one episode of Grow My Revenue you won't want to miss!

Listen to this episode and discover:

Is all revenue created equally?

How he got an evaluation of $80 million on less than $1 million in revenue.

Do you have to have more customers to get a higher evaluation?

Why raising too little capital is a common mistake.

When should you sell a company?

And so much more!

Episode Overview

The first misconception Mark lays to rest is the idea that all revenue is created equal, something I have said and continue to say to my clients. He explains that it's not so much the amount of revenue or growth as it is your customer base.

For example when he was CEO of Pivot 3, a company in the surveillance market, they grew their revenue in casino market. They could have gone very deep into that market but decided to branch out into other markets so they would have a bigger customer base. They went after clients in industries like airports, transportation, etc. Instead of trying to grow their revenue faster, they grew wider at a slower pace knowing that winning in numerous markets would increase their evaluation.

Some of the other myths Mark busts on today's show are allowing the market to dictate your company's worth, and allowing profitability to be the primary form of evaluation. Rather than allowing the market to dictate your evaluation you have to be able to tell a better story about your company and show the long-term value in what you are offering. Doing so will increase your value in your investors' eyes and allow you to ask and receive more money.

When it comes to evaluations, profitability is the lowest form according to Mark. The bigger a company is the harder it is to show tremendous growth. He breaks it down like this: in the first stage of your company you are creating your brand. In the second stage you are growing your brand, and this leads to the fastest growth. In the third stage you're profitable because you are leveraging your brand.

Discover more at http://www.ianaltman.com/business-cast/

Have you heard other business owners say they can't grow because of the economy? Often people will blame the current state of the economy for their lack of ability to expand, or even for their loss of business revenue.

On today’s episode we'll hear from one woman who never had any economic downturn impact her revenue growth: Kristina Bouweiri of Reston Limousine is here to talk about how her company has become a juggernaut in her industry, how she's expanded their business even during several economic downturns and the importance of treating everyone like family, from employees to clients.

Kristina has some undeniably valuable lessons to share, including how they became the #1 wine tour operator in Virginia in 2015. You're going to want to hear that and more on this episode of Grow My Revenue.

Listen to this episode and discover:

How do they market to their limousine clients and why is it applicable to you?

Why have they offered Wi-Fi in their cars for 8 years?

What is the one idea that grew her business by 27%?

Why she has gotten rid of her daily tasks.

Why has focusing on the community been so beneficial for her business?

And so much more!

Episode Overview

Krisina Bouweiri's original plan after college didn't include anything remotely resembling the limo business! After earning a degree in international affairs from George Washington University, she planned to go into the foreign service.

During her senior year she interned with a non-profit focused on helping to raise the status of women in Africa. When they offered her a job she accepted and spent a few years in that role. Eventually she decided to come back to the US where the only job she could find was a straight sales commission role. On one particular sales call she met her future husband, William Bouweiri. William is the founder of Reston Limousine.

When Kristina first started with Reston they had 5 cars and 100% of their business was corporate. They didn't do weddings, wine tours, proms, etc. So the first market she expanded the into was weddings: She felt she could handle it and was happy to work with brides, unlike her husband who hadn't wanted to deal with them previously!

Her second expansion was into government contracts. One day a man knocked on their door and asked if they would make a bid for a government contract. His offer was that if they won they'd hire him as a driver. They went for it and won that contract, naturally hiring him also.

The light bulb went off for Kristina: she thought there must be more contracts like this one. She soon found out every government agency in the city had its own private shuttle service to shuttle employees between buildings and to work from the Metro. For the next 10 years she went after that market, and won 90% of bids that went out from their company. Doing so is how they went from 5 cars to 100 cars.

But in the process they no longer qualified as a small business; in the shuttle bus industry you have to be a small business to win government contracts. So she diversified the company again and moved into hospitals, universities, tourism, corporate shuttles, and residential shuttles, She went looking for business wherever could it could be found.

On today's episode Kristina explains more about her diversification efforts, including why she initially resisted getting into the wine tour business! She also gives a detailed account of how one particular strategy of inviting current clients to lunch grew Reston Limousine by 27% during a time when other companies were losing business.

That is a story you don't want to miss out on! Tune in for that plus other applicable insights you can use in your business on this episode of Grow My Revenue.

Discover more at http://www.growmyrevenue.com/business-cast/

Have you heard other business owners say they can't grow because of the economy? Often people will blame the current state of the economy for their lack of ability to expand, or even for their loss of business revenue.

On today’s episode we'll hear from one woman who never had any economic downturn impact her revenue growth: Kristina Bouweiri of Reston Limousine is here to talk about how her company has become a juggernaut in her industry, how she's expanded their business even during several economic downturns and the importance of treating everyone like family, from employees to clients.

Kristina has some undeniably valuable lessons to share, including how they became the #1 wine tour operator in Virginia in 2015. You're going to want to hear that and more on this episode of Grow My Revenue.

Listen to this episode and discover:

How do they market to their limousine clients and why is it applicable to you?

Why have they offered Wi-Fi in their cars for 8 years?

What is the one idea that grew her business by 27%?

Why she has gotten rid of her daily tasks.

Why has focusing on the community been so beneficial for her business?

And so much more!

Episode Overview

Krisina Bouweiri's original plan after college didn't include anything remotely resembling the limo business! After earning a degree in international affairs from George Washington University, she planned to go into the foreign service.

During her senior year she interned with a non-profit focused on helping to raise the status of women in Africa. When they offered her a job she accepted and spent a few years in that role. Eventually she decided to come back to the US where the only job she could find was a straight sales commission role. On one particular sales call she met her future husband, William Bouweiri. William is the founder of Reston Limousine.

When Kristina first started with Reston they had 5 cars and 100% of their business was corporate. They didn't do weddings, wine tours, proms, etc. So the first market she expanded the into was weddings: She felt she could handle it and was happy to work with brides, unlike her husband who hadn't wanted to deal with them previously!

Her second expansion was into government contracts. One day a man knocked on their door and asked if they would make a bid for a government contract. His offer was that if they won they'd hire him as a driver. They went for it and won that contract, naturally hiring him also.

The light bulb went off for Kristina: she thought there must be more contracts like this one. She soon found out every government agency in the city had its own private shuttle service to shuttle employees between buildings and to work from the Metro. For the next 10 years she went after that market, and won 90% of bids that went out from their company. Doing so is how they went from 5 cars to 100 cars.

But in the process they no longer qualified as a small business; in the shuttle bus industry you have to be a small business to win government contracts. So she diversified the company again and moved into hospitals, universities, tourism, corporate shuttles, and residential shuttles, She went looking for business wherever could it could be found.

On today's episode Kristina explains more about her diversification efforts, including why she initially resisted getting into the wine tour business! She also gives a detailed account of how one particular strategy of inviting current clients to lunch grew Reston Limousine by 27% during a time when other companies were losing business.

That is a story you don't want to miss out on! Tune in for that plus other applicable insights you can use in your business on this episode of Grow My Revenue.

Discover more at http://www.growmyrevenue.com/business-cast/

Have you ever been talking to a potential client and asking questions, only to have them say they didn’t know the answer? What was your response - did you think they were telling the truth or just trying to get out of answering the question all together?

On today’s episode of Grow My Revenue I'll be talking about the three possible reasons you may hear "I don't know" and what to do in this exact scenario. I'll also be giving you the ideal formula to use case studies to create third party validation, why no doesn't mean no for all time, and much more on this show!

Listen to this episode and discover:

How can you tell quickly which opportunities are the right ones for you?

What to say if you’ve discovered you’re talking to the wrong person in an organization.

How can you peak and retain a potential client's interest?

What are the common pitfalls most companies make with case studies?

How do you use case studies to their greatest impact?

And so much more…

Episode Overview

Imagine this setting: you're talking to your client and are using the same side selling approach. As you continue to talk you get to the issue and impact components when the potential client says they have no idea of the impact this issue is having on their organization.

What do you think is really happening here? Do they actually not know the answer or is there something else at play? The truth is there are three reasons they’ve told you they don’t know.

The first is they really do not know the answer. They may not have thought about the impact of this issue before so they don’t have that information and they genuinely don’t know.

The second reason is they do not trust you with the answer. It’s possible you haven’t built up enough of a rapport with them and they don’t trust you with this information. They think if you know how impactful this issue is in their organization you will raise your rates because you know they need you. As a result they become guarded and don’t want to give you the information.

The third reason is they don’t want to look ignorant to you. They think they know the answer but aren’t totally sure so they’d rather say they don’t know then give you wrong information and have to correct themselves later.

On today’s episode I’ll explain how you can find out which of these reasons applies to your potential client, and how you can respond based on the reason behind their answer. I’ll also explain how to tactfully find out if you’re talking to the wrong person with the organization, and what to do if that's the case. Also on this show I give the effective way and not so effective way to use case studies to create third party validation.

Discover more at http://www.growmyrevenue.com/business-cast/

Have you ever been talking to a potential client and asking questions, only to have them say they didn’t know the answer? What was your response - did you think they were telling the truth or just trying to get out of answering the question all together?

On today’s episode of Grow My Revenue I'll be talking about the three possible reasons you may hear "I don't know" and what to do in this exact scenario. I'll also be giving you the ideal formula to use case studies to create third party validation, why no doesn't mean no for all time, and much more on this show!

Listen to this episode and discover:

How can you tell quickly which opportunities are the right ones for you?

What to say if you’ve discovered you’re talking to the wrong person in an organization.

How can you peak and retain a potential client's interest?

What are the common pitfalls most companies make with case studies?

How do you use case studies to their greatest impact?

And so much more…

Episode Overview

Imagine this setting: you're talking to your client and are using the same side selling approach. As you continue to talk you get to the issue and impact components when the potential client says they have no idea of the impact this issue is having on their organization.

What do you think is really happening here? Do they actually not know the answer or is there something else at play? The truth is there are three reasons they’ve told you they don’t know.

The first is they really do not know the answer. They may not have thought about the impact of this issue before so they don’t have that information and they genuinely don’t know.

The second reason is they do not trust you with the answer. It’s possible you haven’t built up enough of a rapport with them and they don’t trust you with this information. They think if you know how impactful this issue is in their organization you will raise your rates because you know they need you. As a result they become guarded and don’t want to give you the information.

The third reason is they don’t want to look ignorant to you. They think they know the answer but aren’t totally sure so they’d rather say they don’t know then give you wrong information and have to correct themselves later.

On today’s episode I’ll explain how you can find out which of these reasons applies to your potential client, and how you can respond based on the reason behind their answer. I’ll also explain how to tactfully find out if you’re talking to the wrong person with the organization, and what to do if that's the case. Also on this show I give the effective way and not so effective way to use case studies to create third party validation.

Discover more at http://www.growmyrevenue.com/business-cast/

If a company doubled in size in three years and was on the Inc. 5000 list would you be interested in hearing the key factors that created their success? Of course you would and Colin Eagen of E Group is here to share those key factors.

On today’s episode Colin joins us to discuss what E Group has done to build that success into their business model, as well as what’s different today versus 33 years ago when he started in sales. We’ll dive into why it’s important to focus on your client’s end results, and why appreciation is a vital part of every business from employee to client to vendor.

Listen in for real-life case studies that showcase Colin's company's growth, and hear the lessons you can learn to do the same in your organization.

Listen to this episode and discover:

What is MIDE and why Is it important?

What is their blueprint process?

Why the sale is the starting line, not the finish line.

The importance of appreciation in employee and client relationships

The one piece of advice he has to achieve his same level of success.

And so much more!

Episode Overview

When Colin started his career in sales the world was a different place. Communication was much slower: there was no Internet, email or even fax machines. As a result clients’ expectations were much different. Today people want real-time answers and it’s far more difficult to connect unless you have an appointment with someone.

To add to that today’s client knows your business before you even talk to them, they've done online research. If they are willing to talk to you then they already know what you do; and they simply are trying to find out if or how you can help them and how you can make your solutions fit their business needs.

But one thing has remained the same throughout: relationships. Then and today it’s important to build trust and build relationships. Those two components are critical to having any success.

And those are two things his business has focused on to grow to their current state. Today his business generates $25 million in sales with a team of less than 30 people and they’ve made the Inc 5000 list several times in the last few years.

To build that trust and those relationships with their clients they show them they are focused on results from the very beginning. And they do so by asking and finding the answers to questions about issue, impact, importance and results. Discover more at http://www.GrowMyRevenue.com/business-cast/

If a company doubled in size in three years and was on the Inc. 5000 list would you be interested in hearing the key factors that created their success? Of course you would and Colin Eagen of E Group is here to share those key factors.

On today’s episode Colin joins us to discuss what E Group has done to build that success into their business model, as well as what’s different today versus 33 years ago when he started in sales. We’ll dive into why it’s important to focus on your client’s end results, and why appreciation is a vital part of every business from employee to client to vendor.

Listen in for real-life case studies that showcase Colin's company's growth, and hear the lessons you can learn to do the same in your organization.

Listen to this episode and discover:

What is MIDE and why Is it important?

What is their blueprint process?

Why the sale is the starting line, not the finish line.

The importance of appreciation in employee and client relationships

The one piece of advice he has to achieve his same level of success.

And so much more!

Episode Overview

When Colin started his career in sales the world was a different place. Communication was much slower: there was no Internet, email or even fax machines. As a result clients’ expectations were much different. Today people want real-time answers and it’s far more difficult to connect unless you have an appointment with someone.

To add to that today’s client knows your business before you even talk to them, they've done online research. If they are willing to talk to you then they already know what you do; and they simply are trying to find out if or how you can help them and how you can make your solutions fit their business needs.

But one thing has remained the same throughout: relationships. Then and today it’s important to build trust and build relationships. Those two components are critical to having any success.

And those are two things his business has focused on to grow to their current state. Today his business generates $25 million in sales with a team of less than 30 people and they’ve made the Inc 5000 list several times in the last few years.

To build that trust and those relationships with their clients they show them they are focused on results from the very beginning. And they do so by asking and finding the answers to questions about issue, impact, importance and results. Discover more at http://www.GrowMyRevenue.com/business-cast/

Imagine you had the ability to forecast trends, predict the future and spot things others overlook. Now imagine what you would with your business.

A man who can help you make that imagined picture a reality is here for this episode. He is none other than Rohit Bhargava, the Wall Street Journal best-selling author of Non-Obvious: How to Think Differently, Curate Trends and Predict The Future. He's also the founder and CEO of the Influential Marketing Group (IMG), a consultancy formed to help brands and marketing leaders.

Today on Grow My Revenue Rohit talks about the biggest mistakes we make when trying to spot trends, the biggest trends he sees right now and 5 habits you can adopt to help you curate and identify trends others overlook.

Listen to this episode and discover:

How does Rohit define a trend?

What is Venmo and why is it important?

What is strategic downgrading and why should you care?

Are trends industry-specific or across the board?

What is the dessert spoon lesson?

And so much more…

Episode Overview

The first question Rohit answers is about what trends he's seeing today. To start that discussion he defines what he sees as a trend and then shares several trends he's tracking right now including strategic downgrading and virtual reality.

Strategic downgrading is when we prefer the simple tools over tools that have been infused with technology. A great example is vinyl records or 8-bit video games. There's a trend towards people wanting to go back to the simple way to experience music: listening to albums on vinyl. Rohit says this happens because we want to enjoy the experience as it was without all the technology. That is strategic downgrading.

The other trend he's been watching is virtual reality. That's the hot ticket everyone is talking about right now. But he spots trends by looking at the non-obvious side of it (hence the book title), and in this case the trend he is watching is virtual empathy.

Virtual empathy is a non-obvious side of virtual reality. Virtual reality allows us to put ourselves in the shoes of others in a way we would never otherwise experience, like being a Syrian refugee. Empathy and compassion come from having an understanding of that person's existence, even if that understanding stems from a virtual reality experience.

If you're curious about how he found these two trends and so many others, he shares 5 habits you can adopt to make that happen on this episode. Discover more at http://www.ianaltman.com/business-cast/

Imagine you had the ability to forecast trends, predict the future and spot things others overlook. Now imagine what you would with your business.

A man who can help you make that imagined picture a reality is here for this episode. He is none other than Rohit Bhargava, the Wall Street Journal best-selling author of Non-Obvious: How to Think Differently, Curate Trends and Predict The Future. He's also the founder and CEO of the Influential Marketing Group (IMG), a consultancy formed to help brands and marketing leaders.

Today on Grow My Revenue Rohit talks about the biggest mistakes we make when trying to spot trends, the biggest trends he sees right now and 5 habits you can adopt to help you curate and identify trends others overlook.

Listen to this episode and discover:

How does Rohit define a trend?

What is Venmo and why is it important?

What is strategic downgrading and why should you care?

Are trends industry-specific or across the board?

What is the dessert spoon lesson?

And so much more…

Episode Overview

The first question Rohit answers is about what trends he's seeing today. To start that discussion he defines what he sees as a trend and then shares several trends he's tracking right now including strategic downgrading and virtual reality.

Strategic downgrading is when we prefer the simple tools over tools that have been infused with technology. A great example is vinyl records or 8-bit video games. There's a trend towards people wanting to go back to the simple way to experience music: listening to albums on vinyl. Rohit says this happens because we want to enjoy the experience as it was without all the technology. That is strategic downgrading.

The other trend he's been watching is virtual reality. That's the hot ticket everyone is talking about right now. But he spots trends by looking at the non-obvious side of it (hence the book title), and in this case the trend he is watching is virtual empathy.

Virtual empathy is a non-obvious side of virtual reality. Virtual reality allows us to put ourselves in the shoes of others in a way we would never otherwise experience, like being a Syrian refugee. Empathy and compassion come from having an understanding of that person's existence, even if that understanding stems from a virtual reality experience.

If you're curious about how he found these two trends and so many others, he shares 5 habits you can adopt to make that happen on this episode. Discover more at http://www.ianaltman.com/business-cast/