Catalyst Sale Podcast: Sales Training | Sales Strategy | B2b | Selling | Marketing

Listener Question - Mentoring on the Job This week on the Catalyst Sale podcast we review a listener topic. Spencer asked if we could discuss the importance of having a good mentor as a new rep OR a seasoned rep starting with a new company or in a new industry. It is through mentoring programs and job shadowing programs that organization information can be passed down from person to person, and generation to generation. It is also through these programs that creativity can be inspired, relationships can be built, knowledge can be passed quickly, and a catalyst for innovation can occur.   If these programs are set up poorly, or the mentor/mentee match is mishandled, the results can be rough. Should you implement a job shadowing or mentoring program in your Sales Org? The short answer - it depends.   Should you have a formal or informal mentoring program?   Again, it depends.   We discuss why you may want to consider a formal mentoring or job shadowing program, even if culturally it may not seem like the best f

Key Performance Indicators - what works, what does not, and where to start This week we have a listener question from Jared in Florida.  Jared is questioning the KPIs that are being measured by the organization and wonders how to determine if you are measuring the right things. We discuss some common errors when creating KPIs, general best practices, and some practical examples.  We also discuss how KPIs can be established outside of sales, and be used to measure other aspects of the organization's success.   When we think of these metrics we usually begin with the end in mind.  We identify the desired behavior(s), desired state, and some of the key milestones that are necessary to demonstrate progress.  It is important to understand what we expect to see to indicate success. KPIs provide a data-driven measurement of performance that goes beyond feelings or intuition.  When tracked consistently, they provide a great look into the rearview mirror as well.  Year over year, quarter over quarter, month over month

Guest - Dan Tyre from HubSpot We are excited to have Dan Tyre join us on this week’s episode of the Catalyst Sale Podcast.  The conversation went so well, we ended up recording our longest podcast to date.  Let us know how you like this format, and who you would like us to invite to join us on the podcast. Dan is a director at HubSpot, entrepreneur multiple times over & inbound expert. We cover the do’s and don’t’s when thinking about outreach and connecting with your prospects.   Building rapport - It isn’t just small talk, it is important.  Invest your time in the information gathering phase, and it will pay dividends. When thinking about the connect call - don’t use this as your opportunity to qualify - You have not earned the right to do so.   It is so important to get the person on the other end talking, and focus on the positive.  So many times reps miss with this step.  They start with their agenda, or talking about their company.  Be helpful.  If you are not researching, you don’t deserve the pers

Plateau Breakthrough Practice Area Catalyst Sale has multiple services we deliver to the marketplace.  This is the second in a series of podcasts where we share our capabilities.  In this episode, we discuss Breaking through Revenue Plateaus, and our approach to identifying gaps and risk from the perspective of People, Technology, and Process. CEOs, CFOs, COOs, Board members, Advisors, Investors, Controllers, struggle with this question - “Are we doing everything we can to grow top-line revenue?”  The next question is likely - “How do I generate more growth without creating unnecessary risk in my current business?” Followed by - “How can we innovate when it comes to growth?” Can you relate to any of these statements? Single digit or low double digit growth is nice, but it will not get us to where we want to be, in the timeframe we'd like to get there.  It has been a while since the team has brought up an idea that is new or innovative. We have invested in a company with a great product, great technical know-

Product Market Fit Practice Area Catalyst Sale has multiple services we deliver to the marketplace.  This is the first in a series of podcasts where we share our capabilities.  In this episode we discuss Product Market Fit, what we mean by breaking things, and how we have helped founders reduce risk by testing assumptions. Founders/CoFounders, entrepreneurs are optimistic when it comes to product market fit.  The product you have created may pass the family and friends test, but have you been able to get customers outside of your network to purchase? Can you relate to any of these statements? We’ve identified product market fit, but… We are not seeing adoption Users do not stay engaged Customers are not spending money Metrics do not align with our original expectations Our Focus changes Quarterly, Monthly, Weekly We don’t know where to start We’ve started, but we are not making progress As we go through the process we assess readiness.  We test assumptions, identify use cases, and test these use cases in re

Objections are common in the sales process. A number of sales training companies offer best practices in handling objections and ways to avoid objections.  Sometimes it is important to raise the objection.   Common objections include price, influence, time, budget, competitive capabilities.  Sometimes the objection is less common.  Even worse, the objection might be silent.   Mike & I share our approach when it comes to objection handling, how we have trained our teams to handle the objection, and the mistakes you will want to avoid. Humanize the process, continue to provide value, and don't answer your objections with a list of information your client/prospect can pull out of the FAQs.  If someone tells you that "every objection can be overcome" they are probably selling you on some "technique", and not the process.   Roleplay and game planning should play an important role in your objection handling approach.  As we have said before (Ben Franklin) - failure to plan is a plan to fail. Assumptions lay a q

Listener Question - What do you mean by "Sales is a Thinking Process?" It's more than just our tagline, it's a guiding concept of ours.  We have not found a substitute for thinking, and hopefully, we never do.   On this week's episode of the Catalyst Sale Podcast, we answer Val's question about sales as a thinking process.  We discuss some common misperceptions, challenges, and our approach at Catalyst Sale.  A thoughtful process applies to sales in general, we address the importance of business acumen and putting the customer first in the context of b2b sales. We also hit on the tee-ball culture, desire for things to be easy, and the constant pursuit for a silver bullet that helps get a deal done.  There are no easy buttons, there are no shortcuts, competition and sales require work. We really enjoy listener questions, please send them to hello@catalystsale.com or contact us directly on twitter, facebook or LinkedIn. Subscribe to the Catalyst Sale Podcast Subscribe via iTunes Subscribe via Google Play Cataly

Dan Peter joins us on this week’s Catalyst Sale Podcast.  Dan is a Salesforce MVP, and Lead Applications Engineer at Kenandy.  Dan started his Salesforce development career in 2009, and is an active leader in the Salesforce community.  Connect with @DanielJPeter on twitter, or look for him at the next Bay Area Salesforce Developer Meetup. We discuss a number of topics including Ohana at Salesforce, the importance of diversity, women in technology, and AI.   Links to additional information regarding many of the topics we discuss follow. Bay Area Salesforce Developer Group https://www.meetup.com/ForceDotCom/ https://twitter.com/forcedevmeetup   Snowforce (Salt Lake City, UT) conference recap: https://macgyverforce.com/2017/03/26/snowforce-2017-the-salesforce-crossroads-of-the-west/   Punta Dreamin’ (Punta del Este, Uruguay) conference recap: https://macgyverforce.com/2017/04/23/a-salesforce-conference-in-uruguay-yes/   Listing of all the Salesforce community conferences https://allthedreamin.wordpress.com/  

Listener Question - Should you force the demo? Mike from New Jersey asks about using demos as a key metric in measuring the sales team success.   Be careful what you ask for.  When managing teams, you tend to get what you measure.   If you and your team are compensated based on the number of demos that your team delivers, this may be a good metric.   If your focus is on revenue, this may not be the best metric to focus on. This week Mike & Mike share their approach get into a deep discussion around demoing, the timing of the demo, personalization for the customer, demo loops, and many of the common mistakes made when you rush to demo.   Thanks for listening and for sharing our podcast with your team.  Catalyst Sale Sales is a Thinking Process. Our sales process includes Validation, Qualification, Fit, and Feasibility, Proposal, Closed Won & the Confirmation Step.  You can learn more about Catalyst Sale by following us on LinkedIn, Twitter, & via the Catalyst Sale Website.

Where do you start when planning an effective Sales Training Event or Global Sales Meeting. At Catalyst Sale, we start with the following questions. What is the current state? What is the desired state? What are your gaps? How will you execute? How will you follow-up and hold the team accountable? Who are the experts in your organization that you can lean on? There are no Silver Bullets, but there are some practical experiences you can put your team through to help improve performance.   Effective training, sales or otherwise, includes the delivery of information, an opportunity to demonstrate retention/application of the new skill, and a chance to test and retest the concepts in a simulated environment. Unfortunately, most organizations stop here, reps go home, training is not reinforced, and the team operates the way they always have.   This week Mike & Mike share their approach in planning sales meeting, implementing new sales training programs, and some background on this Catalyst Sale area of pract

Listener Question - Customer Churn    Churn is inevitable.  It should be considered in your business planning, as it is something most organizations experience on a monthly basis.   What if you are a rep though, and something happens beyond your control?   How do you get things back on track?   What happens if you need to take one step backward in order to move things forward? Let's say you are an Account Manager or Customer Success Manager, and you find that the Account Executive over promised, now you are under delivering.  Or, maybe the customer's perspective of what they purchased has changed.  Maybe you are dealing with a new decision maker, or there is a disconnect between the original decision maker and the team tasked with implementing.   At Catalyst Sale, we are focused on the long game.  This week a listener question draws attention to the things that happen beyond your control, and when it makes sense to recommend that a client reduces their investment with your organization. We also review why it

In this weeks' episode of the Catalyst Sale Podcast we talk about pushing the reset button if necessary. (hopefully this is not the case)  We also talk about building on success, creating your foundation for the future, and execution. Sales planning & execution, territory planning, goal setting, and adjusting like a champion all are discussed.   You can find us via LinkedIn, Twitter, & The Catalyst Sale Website

Why a culture of transparency is good, and how you can identify the risk of over-sharing. Leadership, many times requires creating a buffer, helping to shield your team from information that may reduce focus. At the same time, your team can reach new levels in both creativity and impact if they have all of the details. The importance of transparency is recognized by both new leaders, and those who have recorded a number of years of experience.    A common topic addressed by Jocko Willink, in both his book Extreme Ownership & on his podcast, is decentralized command.  Decentralized command is impossible if the team does not understand the commander's intent.  Commanders intent requires transparency.   In this weeks' episode of the Catalyst Sale Podcast we discuss why transparency, from a sales leadership perspective, is important at Catalyst Sale.  We also discuss the risks associated with transparency, and why providing a buffer is critical when leading a high performing team.

The Catalyst Sale Account Plan - Strategic Account Plan Template At Catalyst Sale we look at the account plan as the roadmap of where we have been, and where we expect to go with an account.  The document is critical to effective strategic sales, and account management.  This plan fits into our qualification stage of our sales process, and will be utilized through proposal, confirmation, and beyond.  Account planning includes baseline information such as goals, objectives, the roles of the players in the relationship.  It also should include a list of open questions, or gaps in knowledge.  The things we need to know, but have not yet determined or uncovered.   An effective account plan should read like a story, one that can be used to allow senior leadership, or other players on the team to read up on an account quickly.  We address the why, the who, the what, and via the 30/60/90/180 & past 90, and the when.   In this weeks' episode of the Catalyst Sale Podcast, we share our personal experience related t

Letting a Customer Go.  When is it time to move on? Bob Dylan famously sung "The times they are a-changin'".  Whether in business or in life, the relationships you are engaged with are in a constant state of change.  New information is gathered, perspectives change, objectives change. Many times this change is good for both parties.  However there are times when change requires additional action.  That additional action may include letting a customer go.  The strategic fit may no longer be there, or you may no longer be able to help.   In this weeks' episode of the Catalyst Sale Podcast we share our personal experience related to making the tough choice to let a customer go.  And why, it may be good for both of your businesses. We discuss the right way, and the wrong way to let a customer go.  We also discuss the importance of not doing this alone. Catalyst Sale Sales is a Thinking Process.  Catalyst Sale is a learning organization first and foremost. That’s why we care about a thinking process that enables r

Sales Enablement - The Swiss Army Knife of your Sales Organization - Catalyst Sale Podcast Sales Enablement takes on a different meaning depending on who is involved in the conversation, and who is driving the mission.  Today, there are a number of sales enablement technologies that have entered the marketplace.   Sales enablement goes well beyond tools and technology.  It includes process, it includes communication, it includes integration.  It can be the bridge that connects marketing, operations, engineering, technology, finance, and operations.  In our experience, the ability for someone, or a group, that plays the role of connector across lines of business will help you minimize false starts.   In this weeks' episode of the Catalyst Sale Podcast we share how we define sales enablement at Catalyst Sale, why you may want to consider this type of role in your organization, and how to execute.  Mike and Mike also share their experience with building a sales enablement team from the ground up. Catalyst Sale S

Working With and Identifying Channel Partners - Catalyst Sale Podcast Partners can accelerate growth in your startup.  They can also cannibalize your business if you choose the wrong one. When you evaluate your partner strategy, it is critical that you identify your primary objectives.   Are you focused on growth in new markets?  Do you have enough margin in your business to properly compensate a partner?  How much time will you save with this approach?  How much will it cost you?  Are you better off building the capability internally?   Once these questions are answered, and you have identified your target partners, the tough questions follow.  Are they the right cultural fit?  How do our business objectives align?  How will their customers respond to the product?  How will their sales team sell the product?  Why will their sales team sell the product? Mike and Mike share their thoughts on partner management, qualification, and execution.  They discuss best practices, common mistakes, and share their persona

The Call Plan - Catalyst Sale Podcast How many times have your wrapped up a conversation with a client or prospect, and thought 'crap, I missed that'? Call planning is a foundational skill.  Ben Franklin said, "If you fail to plan, you are planning to fail!"  Planning is a crucial skill in both sales and life.  Yet, many rush this step or skip over the basics because they just want to talk to the customer.  We challenge you to take a breath, relax, and identify your goals and objectives before jumping on that next call. Mike and Mike share their thoughts on call planning, concepts that tend to be missed, and also share a basic call plan that will help you keep your meetings on track.   You can download the Call Plan discussed in this podcast via the following here. Catalyst Sale Sales is a Thinking Process.  Catalyst Sale is a learning organization first and foremost. That’s why we care about a thinking process that enables results versus a process that tells people what to do. We aim to add value whenever we

The Vend Zone - Catalyst Sale Podcast We have all experienced it at one time or another.  You are looking for more out of a relationship than the other party has in their mind.  The dreaded friend zone.  Sales is a skill/capability that requires the ability to build relationships over time.  Relationships can evolve, they can also get stuck.  As a sales professional you try to avoid being caught in an order-taking role, but sometimes you are unable to break through the type-cast.   Sales training events or seminars discuss taking a consultative approach to working with your customer.  They discuss how to avoid an order-taking and being pulled into a transactional role.  Sometimes this is truly a function of the product, the relationship, or the need of the customer.  We discuss how to identify when this is the case.   Mike & Mike also share their experience getting stuck in the "Vend Zone", how you can avoid this trap, and prevent the relationships with your customers from devolving into this category. Ca

Agile Sales - Catalyst Sale Podcast Is sales agile?  Mike and Mike tackle this question of sales in the context of agile methodologies.  We also discuss how this development approach applies within the Catalyst Sale Process.  Successful sales professionals are agile by design.  Whether thinking about how we work with customers or how we work with our team, critical thinking and iteration are core requirements of the job.   Mike & Mike also share some experience with cross-functional team communication, process application, setting expectations, and the importance of listening to your customer.  Catalyst Sale Sales is a Thinking Process.  Catalyst Sale is a learning organization first and foremost. That’s why we care about a thinking process that enables results versus a process that tells people what to do. We aim to add value whenever we can, and our true success is measured by the sustainability of our work long after we complete a project. We surround ourselves with good company and never stop learning