Why
some
businesses
fail
and what
you
can
do
about
it
now!
First a little about me…quickly
‐ 25+ years experience in Sales, Sales Management, General Management
‐ Qualify as an entrepreneur?
‐ Involved with 5 startups, 1 major merger, 1 major pre‐IPO trade sale ‐ ½ my working life as an employee, the other as an entrepreneur ‐ Always to do with technology – 95% software and solutions
‐ Most recently ‐ IBM MEA Sales Executive ‐ 6 years in Dubai ‐ Began a new entrepreneurial journey in 2015 with Maestrano
Agenda
‐
Success
vs
Failure
S
uccess is simply a matter of luck.
- Just ask any failure.
M
any of life’s failures are people who did not
realise how close they were to success when they
gave up.
‐
30%
of
startups
fail
within
2
years
‐
50%
within
5
years
OECD
Report
on
Small
Businesses,
Six
areas
to
consider:
‐
Access
to
funding
‐
Access
to
markets
Six
areas
to
consider:
‐
Access
to
funding
‐
Access
to
markets
‐
Access
to
technology
‐
Access
to
skills
‐
The
business
environment
Six
areas
to
consider:
‐
Access
to
funding
‐
The
business
environment
Six
areas
to
consider:
‐
Access
to
funding
‐
The
business
environment
‐
Management
capabilities
‐
Access
to
markets
‐
Access
to
technology
Management capabilities or Execution Marketing Marketing PR & Advertising PR & Advertising Finance Finance
Marketing Marketing PR & Advertising PR & Advertising Finance Finance People People Operations Operations Sales Sales Service Service Etc Etc
Management capabilities needed will vary depending on the stage
Startup
Marketing Marketing PR & Advertising PR & Advertising Finance Finance
For example ‐ Finance
Startup
Startup GrowGrow ScaleScale
Marketing Marketing PR & Advertising PR & Advertising Finance Finance People People Operations Operations Sales Sales Service Service Etc Etc
For example ‐ People
Startup
Startup GrowGrow ScaleScale
Marketing Marketing PR & Advertising PR & Advertising Finance Finance Sales Startup
A business can fail ‐ even if it has good revenues… but it is almost guaranteed to fail with poor revenues.
Startups, small & medium businesses can really innovate
around creating revenue streams – or Sales!
Large, well funded companies just throw money at it – and Sales
Cash Customer Payment
Customer Payment ~Invoices * (nagging + chasing) Invoices Orders
Orders Sales Sales x
Cash is King – but….
Cash is KING but where would HE be without Revenue!
You are investing a lot in your Brand & Marketing – your ROI is Revenue! Except in a few cases – a sales team will drive this Revenue!
Cash is King – but….
Cash is KING but where would HE be without Revenue!
You are investing a lot in your Brand & Marketing – your ROI is Revenue! Except in a very few cases – a sales team will drive this Revenue!
Strategy
Let’s
focus
on
Sales
and
how
you
can
transform
your
1. Clearly articulate what makes you, your product, your
service Unique in the market(s) you operate.
(*** If your competitors say the same thing (true or not) you
can’t use this as your unique value)
Quality, Price, Service, Speed, Innovation
2.
Products/Services
by
Customer
Product type x Product type y Service type z
Customer type 1 ✔ $x Target ✔$x Target ✔ $x Target Customer type 2 ✔ $x Target ✔ $x Target
3.
Average
Revenue
Expected
from
a
sale
= Target/Objective (3‐ARE)
Product type x Product type y Service type z
Customer type 1 $ $ $
Customer type 2 $ $
4.
Lead
to
Opportunity
Ratio
Product type x Product type y Service type z Average
Customer type 1 2/10 3/10 4/10 3/10
5.
Opportunity
to
Revenue
Ratio
= ORR (5‐ORR)
Product type x Product type y Service type z Average
Customer type 1 4/10 2/10 1/10 2.33/10
Customer type 2 1/10 3/10 2/10
Customer type 3 4/10 2/10
6.
Leads
Required
– Target
(2
‐
TAR)
divided
by:
Product type x Product type y Service type z Average
Customer type 1 3‐ARE / 4‐LOR / 5‐ORR 3‐ARE / 4‐LOR / 5‐ORR 3‐ARE / 4‐LOR / 5‐ORR 3‐ARE / 4‐LOR / 5‐ORR
Customer type 2 3‐ARE / 4‐LOR / 5‐ORR 3‐ARE / 4‐LOR / 5‐ORR 3‐ARE / 4‐LOR / 5‐ORR
= LR (6‐LR) = Cold hard reality
2‐TAR 3‐ARE 4‐LOR 5‐ORR 6‐LR
$10,000 $1,000 10% 10% 1000 $10,000 $1,000 20% 20% 250 $10,000 $1,000 30% 50% 67
7.
Lead
generation
expectations
Product type x Product type y Service type z
Marketing Sales Marketing Sales Marketing Sales
8.
UBV
by
Products/Services
=
The
Unique
Pitch
Product type x Product type y Service type z
Customer type 1 UBV 1 UBV 2 UBV 3
Customer type 2 UBV 4 UBV 5
9. Develop a professional enquiry to revenue process
Phone
Enquiry Product
Send
Email Call Meeting Qualify Propose Negotiate Close
Outbound
Customer Web
Enquiry
Referral
9. Develop a professional enquiry to revenue process
Phone
Enquiry Product
Send
Email Call Meeting Qualify Propose Negotiate Close
Sales Process
9. Develop a professional enquiry to revenue process
Phone
Enquiry Product
Send
Email Call Meeting Qualify Propose Negotiate Close
Sales Process
9. A quick example Phone Enquiry Product type x Customer type y Email Template 1 Call Scrip 3 Meeting Guide 1 Qualify Checklist Propose Template 2 Negotiate Checklist Close Sales Process Meeting Guide 2 Meeting Guide 7
9. ….it doesn’t end there Close Win Email Template 11 Meeting Guide x Meeting Guide 5 Lessons Learnt Checklist Ask for Referrals Sales Process Testimonial Process
10. Measure and Tune
‐ Results by product/service by customer type
‐ Results by sales rep
‐ Leads by product/service by customer type
‐ Opportunites by product/service by
customer type
‐ Time between stages
Cash Customer Payment
Customer Payment ~Invoices * (nagging + chasing) Solve this formula
That was a lot of material….and a lot of fidly detailled stuff.... .... Send me an email and I will send you the deck and
answer any questions....
eCommerce and Customer
Experience category
His Highness Sheikh Mansoor Bin Mohammed Bin
Rashid Al Maktoum, Chairman of the Dubai
International Marine Club and His Excellency Sami Al
Qamzi, Director General of the Department of Economic
Development in Dubai, presented the award.
