Tag: Sales Acumen

Are you playing soccer or lacrosse?

(Photo by Gonzalo Arroyo Moreno/Getty Images)

A few weeks ago I had a virtual chat with my mentor, a CEO of a software company in Silicon Valley. Our discussion focused on competing in a complex enterprise sales cycle. After describing the challenges I was facing, he reflected and asked a simple question: Are you playing soccer or lacrosse?

Interesting.

My exposure to lacrosse is limited to its appearance on ESPN SportsCenter: Top Ten Plays. It wasn’t a sport I went out of my way to watch. And if I were to, I’d have to learn the history, techniques, and rules of the game.

My mentor could see my thoughts drifting, so he rephrased the question:

Are you trying to get your customer to buy in the way you sell, or are you trying to get your customer to buy in the way your competitors sell? In other words, are you playing soccer, or are you playing lacrosse?

My mentor and I both share a passion for soccer, as we both grew up playing and watching it religiously. He knew the analogy would resonate.

The point he was making was although the customer may be intrigued by lacrosse, it didn’t mean they wanted to play it. It could be that my competitor introduced prospects to lacrosse because they got tired of losing at soccer. By playing along or trying to get the customer to buy in the way my competitors sell, I was expending valuable resources instead of investing in my soccer game. If I continued to go down this path, it’d be a severe case of self-deceit because it’s playing a game where the opponent sets all the rules, so I was bound to lose. I had to make a change.




After some deep self-reflection, I worked with my team to refine my approach and strategy. Here are some of the steps I’m taking:

  1. Dedicating additional time to deeply understand my customer’s business outcomes by scouring through financial statements, interviews, press releases, social media, investor decks, etc.
  2. Developing a point of view from the perspective of achieving each business outcome.
  3. Validating and refining that point of view by speaking with key stakeholders within my customer’s organization, from the executive to the executive assistant.
  4. Crowdsourcing feedback and the best ideas from experts within my organization to further refine the strategy.
  5. Applying critical thinking and asking tough questions to earn trust and mutual respect in every interaction.
  6. Proactively sharing ideas to solve business challenges even if there are no complete solutions to offer…yet.

These steps are netting positive results and rekindling the customer’s passion for soccer. The customer is fortifying their defense in preparation to mount a counter attack and score some business goals.

On a side note, Real Madrid, if you’re reading this, I’m patiently waiting for that invitation to try out or a free ticket 🙂 Thanks!

Happy selling!

Stay #CustomerObsessed

Use Data Analogy To Inspire Action

When asked what makes a great story, Beau Willimon, showrunner for House of Cards, gave a simple answer: “The most important element in a good story is conflict. It’s seeing two opposing forces collide with one another.” 

As I have progressed in my sales career from selling T-Shirts as a college student to negotiating technology agreements as a Senior Enterprise Sales Executive, one thing remains consistent: a good story drives action. Trying to convince a broke college student to spend $25 for a T-Shirt required some artful storytelling. Displacing an incumbent and challenging the status quo means gaining executive consensus and painting a better future through stories. 

Telling a good story requires knowing what makes a good story, and from the comment earlier, the most critical element in a good story is conflict. A known supporting cast in any good commercial story is data, which is also a catalyst for conflict and debate.

The key to using data in a story is that it needs to inspire action and accelerate decisions. In Nancy Duarte’s HBR article, she explains that for data to inspire action, they need to do more than make sense – they have to make meaning. If your audience can internalize the purpose of the data, it becomes more actionable, which leads to a faster decision.

Let’s assume you are trying to explain to your audience that your solution could save $2,000,000 over 12 months. 

The HBR article shared three strategies you could use to have your data make meaning:

  1. Connect data to relatable size – comparing length, width, height, thickness, or distance. Using our $2M in savings example, you could say to an audience in Seattle: two million dollars stacked up in one dollar bills is about the height of the Space Needle with some change to spare. Guess what happens when next they see the Space Needle from their downtown office? You guessed it, the two million dollars they could be saving with your solution. 
  2. Connect data to relatable time – we measure time in seconds, hours, minutes, days, months, and decades. Two million dollars comes out to $7,692 per working day, so each day we delay the decision costs the business $7,692 or $320 per hour or $5 per minute…a minute later in the meeting, you could interrupt yourself and say, wow, there goes five bucks, with a smile.  
  3. Connect data to relatable things – more digestible to relate to things people are familiar with. To an environmentally conscious decision maker in Silicon Valley, you could say: two million dollars could get you and your team of 20 engineers a brand new 2019, Tesla Model X. #SaveTheEnvironment (assuming they don’t already own one 🙂 )

When crafting a story, take advantage of opportunities to insert data into the storyline and use the strategies described above to master the art of having the data make meaning. If your audience understands the impact of your data, they would be inspired to use your meaning in internal discussions to navigate conflict, drive action and arrive at a decision in your favor. 

Bliss selling!

Executives Are People

I asked the CEO of a fast-growing startup in Silicon Valley his approach to selling to other Executives.

His response was simple: “Executives are people.”

How so?

Executives are busy.

Executives are overwhelmed with requests for their time.

Executives are under pressure to deliver results.

Executives are responsible for setting the vision and making the toughest decisions.

Knowing these truths, he approaches each interaction with an Executive with deep empathy and extensive preparation.

What does this look like?

Executives are busy and overwhelmed, so he streamlines his agenda to give them back some time.

Executives are under pressure to deliver results, so he is precise with how his solution can provide the results the Executive cares about the most.

Executives are responsible for making the toughest decisions, so he does everything in his power to show how his solution reduces risk for the Executive.

To establish credibility with the Executive, he aligns with their vision and priorities.

Speaking of priorities, how do you know the priorities that matter most?

Research.

In KPMG’s interview of over 1300 CEOs, the company identified three key priorities for CEOs in 2019: 1) Make digital a personal crusade 2) Navigate through geopolitical headwinds 3) Find the right balance between data and intuition.

PwC’s global CEO survey identified approaches to Artificial Intelligence (AI) and navigating fissures in policy frameworks as the underlying trends shaping the US CEO agenda for 2019.

Research from Workday identified six priorities CEOs care most about which are: 1) Finding growth 2) Taking on risk 3) Managing regulatory changes 4) Leveraging technology 5) Pursuing innovation 6) People and culture

Gartner also recently published their survey of 473 CEO and senior business executives. The top 11 business priorities are 1) Growth 2) IT related 3) Corporate (structural development) 4) Financial performance 5) Workforce management 6) Customer 7) Product improvements 8) Cost management 9) Efficiency and productivity 10) Innovation and 11) Risk management

While these publications are informative and help inform an approach, nothing replaces asking the Executives directly to articulate their priorities in their own words.

Anything else?

Communication style.

Tell me more.

Having the right communication style comes with experience and repetition. It’s a skill that can be developed, but it requires practice, practice, and more practice. Your choice of words matter. Your self-confidence matters. Your tone matters. Your cadence matters. Your body language matters.

Communication at its core is the successful conveying or sharing of ideas and feelings. If your ideas and feelings are not getting across then you’re not communicating.

Also, authenticity matters.

Why?

Savvy, and somewhat cynical Executives can detect inauthentic communication in less than one millisecond.

So, be yourself.

Being yourself is the foundation for building trust. And trust is the anchor for all business relationships that last for generations.

Thanks to John Aisien at BlueCedar for inspiring this article.

Hey, You Have A Cool Accent!

In Dr. Praya Agarwal’s article on Forbes, she cites research that shows it takes less than 30 seconds to linguistically profile a speaker, and make quick decisions on their ethnic origin, socio-economic class, and background. Additionally, we assign values such as pleasantness and prestige but also intelligence based on accents. In Executive Presence: The Missing Link Between Merit and Success, by Sylvia Ann, she found that executive presence rests of three pillars: gravitas, communication, and appearance. In the communication pillar, some of the executives she interviewed cited off-putting accents as an example of a verbal tic that undermines an individual’s ability to have superior speaking skills and ultimately, executive presence. Essentially, accents are part of our identity, whether good or bad. 

My family journeyed from a village in Nigeria (Avu) to the United States (Texas) when I was fifteen years old. I immediately enrolled in high school with big dreams and a thick accent. Almost instantaneously, I became the punchline of many name-calling jokes, including the very degrading “African booty scratcher.” Maybe it was bullying, or perhaps it was just high school kids having fun; either way, it made me feel uneasy, unwelcome, and isolated. 

One day, I shifted my perspective and made the conscious decision to fully embrace my accent and turn what many labeled as a disadvantage into an advantage. Luckily, my English Teacher acted as a mentor and assured me that with practice I could become as eloquent as a young Sidney Poitier (she thought we resembled each other). Her coaching helped me master my pace, tone, and cadence. These coaching exercises helped me find my voice and ensured I was not only heard but understood.

In my first sales job after college, one of my prospects was convinced I was calling from an “offshore” country during a cold call. My accent was the culprit, again. Granted, he was partly right; the monotony of the job probably caused my mind to wander off to the bustling streets of Lagos with suya in both hands. However, physically, I was definitely in the United States trying to make the almighty dollar. Let’s just say the sale never happened with that prospect. 

Over the years, I’ve noticed my accent thickens during big presentations which could be distracting for the audience. So at the start of a big presentation, I often let the audience know that it is okay to interrupt me if my accent hinders their ability to understand me. By saying this, it diffuses tension for me and the audience; they empathize and become invested in my success. I call this reverse accent profiling. Is that a thing? It should be. #LoveAllAccents

So how do you empathize with someone with a thick accent at work?

  1. Resist the desire to make fun of the accent, in private or in public. A mentor once told me when someone makes fun of you with the intent to demoralize and belittle you, what they’re actually doing is projecting their insecurities. Secure people are usually looking for opportunities to uplift others rather than make them feel insignificant.
  2. Reach out and offer to coach and mentor the person. If you’re someone with an accent who thinks it is inhibiting your success, don’t be shy to ask for help. Reach out to colleagues, leaders in your community, senior management, or seek out professional coaching.
  3. For those in leadership, encourage those with thick accents to speak in front of the team or group and provide ongoing feedback, coaching, and mentoring.
  4. Highlight the person when they contribute ideas to team meetings. A brilliant African pharmacist I spoke to described how she would make a suggestion in a meeting but get little acknowledgment. A few minutes later in the same meeting, someone else would suggest her exact idea and get all the admonition and praise. This act happened multiple times until one day she got frustrated and responded to the individual that kept repeating her ideas “I might have said it with an accent, but that’s exactly what I just said.” It stopped happening.
  5. Make a genuine attempt to understand the person with a thick accent, and meet them where they are. It’s fair to say we all have beautiful accents; if they can understand you, why not make an effort to understand them. 
  6. Realize that it’s not just an accent, it’s an asset. #MyAccentIsAnAsset 

Special thanks to Jennifer Obiyo, AG Ukwa, Beth Fatusin, Emilia Lusia Fomuso, Ale Esposito, Jacob Alao, Stephen Ozoigbo, Garrett Mihelich, David Chau, for their inspiration and contribution.

3 Actionable Insights From “How To Become A Rainmaker”

“Learning is repetition”. These are the words from the Head of Sales of a $6 billion software company. This was his answer after I asked why he reads so many business books. He went on to explain that although these books may tackle similar themes, he still enjoys reading them because by repeatedly exposing himself to the different, and sometimes, conflicting perspectives of the authors, he can gain a deeper understanding of the concepts in the books. Inspired by the words of this sales leader, I’m introducing a new series where I plan to share three actionable insights from a book I’m reading every month.

To kick things off, my book for October 2018 is “How to become a Rainmaker: The rules for getting and keeping customers and clients” by Jeffrey J. Fox. The publisher describes the book as “a winning handbook filled with short, pithy advice that will raise some eyebrows and, no doubt, some income levels as readers follow the suggestions to make it rain.” The book is only 165 pages long which means you could read it in about four hours if you average 1½ minutes per page or in less than 2 hours if you listen to it at 2X speed on Audible.

This book has a lot of insights, and below are three that resonated with me the most:

1. Find a “point system” that works for you: In Chapter XXXVII, the author encourages salespeople to use a point system every day. He breaks down the point system into four parts:

  • 1 point for getting a lead, a referral, an introduction to a decision maker
  • 2 points for getting an appointment to meet the decision maker
  • 3 points for meeting the decision maker face-to-face
  • 4 points for getting a commitment to a close or an action that leads to a close

The goal is to get 4 points every day in any combination. If you do this consistently, you will not run out of prospects, you will have a full pipeline, and you will always be making rain. I like the practicality of this because it doesn’t take much effort to get started doing it and seeing the results. Also, don’t wait till the last day of the week to try to get 20 points.

I added my variation to the point system by color coding my calendar:

  • Green is meeting with clients and decision makers
  • Orange is internal meeting
  • Purple is internal training
  • Light purple is personal development time

My goal is to have more green in my calendar every week. If I’m spending more time with clients, it means I’m helping them solve their challenges, which means I’m making it rain, which means my pasture is going to be very green. Whether you are in sales or not, define what “green” looks like to you and do more of it every week.

2. Welcome customer objections: In Chapter XV, the author explains that “rainmakers turn customer objections into customer objectives.” The play on words is brilliant. Let’s see how the dictionary defines objections and objectives.

  • Objection: an expression or feeling of disapproval or opposition; a reason for disagreeing.
  • Objective: a thing aimed at or sought; a goal.

When you examine both definitions closely, you realize a subtle relationship. For you to achieve any goal, you are bound to face opposition. Understanding this relationship as a salesperson should get you excited to hear your customer objections. These objections mean that they are trying to achieve a goal and they need your help to remove the oppositions in their way. One question the author encourages us to ask if a sale is not made is “what else may be prohibiting us from moving ahead?” If you’re a salesperson asking for a deal, this question works. If you’re an entrepreneur asking for funding, this question works. If you’re the president of a non-profit asking for a significant donation, this question also works. Give it a try this week.

3. Dress to impress for success: In Chapter XLV, the author advises us to “be the best-dressed person you will meet today.” It’s a simple but powerful concept. According to the author, “Rainmakers do not dress down, nor do they necessarily dress up. They dress better than the customer they will meet that day.” In Silicon Valley and Silicon Beach where T-Shirts, shorts, and sandals are the norm for Founders and Technologists, it’s easy to dress to impress without much effort. One way I’ve been able to differentiate my style is to wear a fitted blazer with matching pocket square over my customer’s branded T-Shirts, which my customers love because it makes it seem like I am part of their team, which I am. Even in intense negotiating situations, having their T-Shirt on makes it look like I’m on their side, which I am. I also like to remind my customers that I technically work for them, but my employer’s name appears on my paycheck. 🙂

One experience that reaffirmed that wearing my customer’s T-shirt to meet with them is the right thing to do was an encounter I had at the airport in San Francisco on my way to negotiate a deal. A stranger approached me and asked if I worked at the company on my T-shirt. I said technically Yes, and we had a good laugh. He then shared some feedback with me about my customer’s product. I jotted down the feedback and shared them with my customer when I met with them. The Executive in the meeting was appreciative of this feedback, and it helped me gain trust and respect with the rest of her leadership team. Oh yea, the Executive signed the deal. 😉

I highly recommend this book as it may remind you of concepts you may have forgotten and introduce you to other concepts that may improve your sales motion…and help you become a rainmaker.