Category: Featured

3 Things A Startup CEO Looks For Before Taking A Sales Meeting

I had coffee with the CEO/Co-founder of a Silicon Valley based tech startup that has raised well over $50M and asked him:

 

“What needs to happen before you take a meeting with a salesperson for the first time?”

 

He said he looks for three things:

1. The salesperson was referred to me by someone I know and trust

2. The salesperson intends to share something new and innovative that could help me accelerate my roadmap

3. The salesperson needs me more than I need them

I was struck by #3, so I probed further.

He went on to explain that it’s always good taking a sales call when you’re not desperate for the solution/service they’re offering. He only takes meetings with salespeople representing something that is a nice to have. He prefers to have ‘must have’ conversations under his explicit control.

Someone on responded to the above post on LinkedIn with the following:

“Interesting…smells of “group think” and “yes men” mentality. Would you like feedback? If there are any sales folks feeling a bit discouraged, here are my thoughts: #1 Um no. I’ve worked directly with C-suite execs for a long long time. They’ve all been open to meeting me for the first time without a personal referral…unless I count some great EA’s who’ve booked us meetings. #3 Wut? A bit creepy. Good thing I’m a sales professional who works with buyers who need solutions, because I’m a horrible co-dependent. Here’s the rub…startups need to do a lot of selling themselves to make good on their funding…most veteran sales professionals will pass on calling a startup based on their employer count (easy to find online). Who “sells” on the first meeting anyway? 🤔 Don’t worry, I’ll wait…😴 That said, Veteran C-suite execs understand #2, because this is where a conversation/dialogue starts to establish whether a solution is worth evaluating.“

 

Below is my response to their comment.



Thanks for taking time to read this and reply with your thoughts. You make some very good points. I believe one should feel inspired rather than discouraged. Here’s why:

In the book “Selling to the C-Suite” by Nicholas AC Read and Stephen Bistritz, their research confirms that “a full 84% of Executives said they would usually or always grant a meeting with a salesperson who was recommended internally.”

On the other hand, “Cold calling ranked the lowest, with only 20% of participants (Executives) saying they would usually grant a meeting as a result, while 44% said they would never respond to cold calls.”

The idea is not to feel discouraged but to use research to increase your odds of getting a meeting with CEOs. Also, it’s a better experience to work smarter than harder. The #3 point is not about co-dependency; it’s about control. To your point about “who sells on the first meeting anyway?” many have, and many will continue to do so. Every interaction is a “selling” opportunity…you’re selling an idea, a service, a reason for them to take a second meeting…you’re always selling, from the first meeting to the last meeting to the next meeting… 🙂

I’d love to hear your thoughts. Send me an email (ozisco at gmail.com) or a tweet @ozisco

Happy Selling!

3 Valuable Lessons I Learned Cold Calling Door To Door

“Success is walking from failure to failure with no loss of enthusiasm.” Winston Churchill

In my days at Cbeyond, cold calling small businesses door to door was an integral part of the daily grind. Below are three lessons I picked up along the way that continue to deliver results in my sales career today:

 

  1. Understand your numbers then commit to go above and beyond them
  2. Just because you have a steady stream of referrals doesn’t mean you should stop cold calling
  3. Those who ask more for it (the close), get more of it (the sale)

 

1. Understand your numbers then commit to go above and beyond them. At Cbeyond, we were all assigned metrics – the number of doors to hit, phone calls to make, qualified leads to get, and appointments to set – that if met, gave us the best opportunity to succeed. Since selling in its simplest form is a numbers game, what separated the top sales associates from the average sales associates was their ability to crush their metrics. For instance, if the requirement is to knock on 50 doors a day to get five qualified leads and set two appointments, those who knock on five additional doors per day at the end of the week would have 2-3 more qualified leads and one extra appointment set. When I spoke to Brent Maropis, former VP at Cbeyond and current CEO of Rev.io, he mentioned that top salespeople have a bias towards taking massive action. The good news is that it doesn’t matter if you’re in sales to benefit from this concept. Whatever your profession, define your metrics then commit to go above and beyond them. If you do this consistently, success will be inevitable. #NumbersDontLie

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2. Just because you have a steady stream of referrals doesn’t mean you should stop cold calling. Referrals were an excellent source of leads. Whether you are a sales hunter or farmer, there is immense value in incorporating customer referrals into your customer acquisition strategy. At Cbeyond, our customers and IT vendors made great referral partners. However, betting your quota for the month based strictly on referral leads was risky, and many sales associates fell into this trap (myself included). When the deals pushed, it put me under unnecessary pressure which led to desperation (not a good look!). The top sales associates excelled at getting qualified leads through various forms of cold calling (in person, phone, email) and working closely with partners and referrals. Someone that excelled at this was Sean Haq, who broke several sales records at Cbeyond and has continued to deliver amazing results in his sales career.  #DiversifyYourHustle

3. Those who ask more for it (the close), get more of it (the sale). Asking for the sale was one of my biggest challenges when I started my sales career, and I’ve come to realize that this is one of the most important skills needed to be successful in sales. One of my most memorable moments at Cbeyond came when my bold ask resulted in my first Cold Call Close. A Cold Call Close is when you walk into an office unannounced, conduct your presentation with the final decision maker, and get a deal signed after your presentation. Here’s my story. It was 5:37 pm one hot summer day in San Jose and I really wanted to get back in my car and blast the A/C. I decided to knock on one more door. I approached the door, secretly hoping it would be locked so I could satisfy my conscience. To my surprise (and fear), the door was unlocked, so I walked in. I noticed the receptionist had left for the day so I continued walking down the hallway. A man who appeared to be the owner was seated at his desk in the corner office. At that moment, my nervousness made me clear my throat, and he looked up; this meant I had less than 20 seconds to pique his interest. There was a football (soccer, for Americans) game on – Real Madrid vs. Sevilla FC. I introduced myself and started to articulate my value proposition. But before I could finish, I interrupted myself and mentioned I was a huge football fan and asked if he didn’t mind me finishing the game with him since there was just 15 minutes left. He agreed (the first close). During those 15 minutes, we talked about the beauty of football and of course screamed at the TV when someone didn’t make a play we expected him to make. This rapport building session allowed me to be my authentic self and loosen up, so it built my confidence. When the game was over, he discussed some of the business challenges he was experiencing and explored how we could assist. An hour later, after overcoming his objections, I asked boldly for his signature, and he signed on to become a client. It’s uncomfortable at times asking for the sale, but that’s one skill you need to get comfortable nurturing to be successful in sales and business! #AlwaysBeClosing

Happy Selling!