Industrial Growth Institute Ed Marsh Consulting

John Panaccione on Decisions and Veterans in Business - Industrial Growth Institute Podcast Episode # 14 with Ed Marsh
Summary
In this episode, Ed Marsh interviews John Panaccione about the importance of inorganic growth and the role of inorganic growth options in revenue growth.
They discuss John's background, his experience in small business finance and transactions, and his work in helping veterans succeed in entrepreneurship.
They also:
explore the topics of learning management systems (LMS)
content marketing, and the evolution of inbound marketing
the intersection of SaaS and industrial manufacturing
value of partner ecosystems
use of courses in various industries
silver tsunami, which refers to the retirement of baby boomers and the opportunities it presents for younger entrepreneurs.
In this conversation, John Panaccione discusses the different paths to business ownership, including starting a business from scratch, franchising, and buying an existing business. He also talks about the rise of entrepreneurship through acquisition and the opportunities it presents. John shares insights on raising capital for small businesses, the importance of solid financial information, and the process of mergers and acquisitions.
He emphasizes the value of veterans in the business world and the benefits of their decision-making skills.
John also discusses the challenges of competition and decision-making in today's market and offers advice on creating your own market and running experiments to drive growth.
Takeaways
Inorganic growth options are often overlooked in revenue growth strategies, particularly in the lower middle market.
Learning management systems (LMS) and high-quality content are essential for effective training and marketing.
Inbound marketing is still important, but it has become noisier and more competitive.
Partner ecosystems and nearbound strategies can help companies gain access to new accounts and create valuable partnerships.
Courses can be used for user training, lead generation, data collection, and creating certifications.
Companies should consider the least amount of content with high quality for the most impact.
The silver tsunami refers to the retirement of baby boomers and the opportunities it presents for younger entrepreneurs.
Entrepreneurship through acquisition is a growing trend, offering opportunities for aspiring business owners.
Raising capital for small businesses requires solid financial information and alignment of documentation.
Mergers and acquisitions can be facilitated by experienced professionals to ensure a smooth process.
Veterans bring valuable decision-making skills to the business world and should be considered for employment.
Competition is fierce in today's market, and companies need to find ways to stand out and create their own market.
Running experiments and learning from failures is crucial for growth and innovation.
Effective pricing strategies can differentiate a business and create its own market.
Sharing insights and knowledge with others is important for personal and professional growth.
Takeaway Quotes from John Panaccione
"Inorganic is often overlooked, particularly by the lower middle market."
"The LMS is the racetrack, the content is the race cars."
"Inbound marketing is not as powerful as it used to be."
"Startup Culture we have in America"
"Entrepreneurship through acquisition"
"You have to have a pretty solid set of information"
Check out John's website
LinkedIn: John Panaccione and Ed Marsh
Twitter: John Panaccione and Ed Marsh
Instagram: John Panaccione and Ed Marsh
YouTube: @johnpanaccione5979 and @EdMarsh
Show Transcript 
Chapters
00:00 The Overlooked Potential of Inorganic Growth07:11 The Power of Learning Management Systems and High-Quality Content39:29 The Silver Tsunami: Opportunities for Younger Entrepreneurs 47:43 Challenges of Competition and Decision-Making in Today's Market
#InorganicGrowth #RevenueGrowth #SmallBusinessFinance #Liquidity

Jon Selig on the Power of Humor to Improve Sales and Prospecting - Industrial Growth Institute Podcast Episode 13
Summary
Episode 13 starts with Jon Selig and Ed Marsh lamenting the fact that sales can be less fun than it was a decade ago. Salespeople and prospects feel overwhelmed by repetitive sales cadences and stale tactics.
John Selig, a stand-up comic and former salesperson, shares his journey from enterprise sales to comedy and how he found overlap between the two. He emphasizes:
the importance of injecting humor into sales and marketing messaging to create a connection with prospects
the process of creating comedy material and how it can be applied to content creation in the industrial space
techniques for crafting effective cold openers
the value of humor in sales and the benefits of mastering business acumen
the importance of humor in sales and marketing
how humor can build trust, break through the noise, and evoke emotion, making consultative sales more effective.
Jon also shares his process for helping companies incorporate humor into their messaging and sales strategies. He emphasizes the need for understanding the buyer's challenges and being able to have meaningful conversations. Jon shares his belief that the biggest problem in business is the increasing dependence on screens and the lack of human communication. He encourages companies to get back to basics and prioritize genuine interactions.
Takeaways
Sales can be less fun than it was a decade ago, with repetitive sales cadences overwhelming both salespeople and prospects.
Injecting humor into sales and marketing messaging can create a connection with prospects and make the sales process more enjoyable.
The process of creating comedy material can be applied to content creation in the industrial space, allowing for the development of engaging and relatable content.
Crafting effective cold openers can help salespeople make a strong first impression and initiate meaningful conversations with prospects.
Mastering business acumen is essential for sales success, and incorporating humor can help sales reps develop a deeper understanding of their target audience. Humor can build trust, break through the noise, and evoke emotion in sales and marketing.
Understanding the buyer's challenges and being able to have meaningful conversations is crucial in consultative sales.
The biggest problem in business is the increasing dependence on screens and the lack of human communication.
Companies should prioritize genuine interactions and get back to basics.
Incorporating humor into messaging and sales strategies can help companies stand out and connect with prospects.
Takeaway Quotes from Jon Selig
"This connection request is colder than a manufacturing sales exec's sweat during unplanned downtime."
"The process of crafting humor to specifically make your target persona smile will force your reps to master the business acumen they need to increase their subject matter expertise."
"Humor is empathetic, it connects with the audience."
"When it's packaged up properly, there's an element of surprise."
"Humor helps build comfort and rapport, breaks through the noise, and evokes emotion."
Check out Jon's website
LinkedIn: Jon Selig and Ed Marsh 
Twitter: Jon Selig and Ed Marsh
Instagram: Jon Selig and Ed Marsh
YouTube: Jon Selig and Ed Marsh 
 
Show Transcript 
 
Chapters

00:00 B2B Sales: More Work, Less Amusement
09:29 The Overlap Between Comedy and Sales
16:07 Crafting Effective Cold Openers
29:58 The Importance of Genuine Interactions
39:56 Incorporating Humor to Stand Out
49:52 The Psychology of Humor
01:00:07 The Process of Incorporating Humor
01:09:56 The State of B2B Sales and Marketing
01:18:32 Wrapping Up / Just Getting Started

 
#HumorInSales #HumorAndSarcasmInSalesCalls #HumorInSalesCalls #HowToUseHumorInSales #SalesJokes #UsingHumorInSales #SalesHumorJokes #JonSelig #ProspectingTips #Trust #B2BSales #IndustrialSales #SalesProspecting #TradeShows #EdMarsh

Kathleen Booth on Professional Communities and Marketing and Sales Alignment - Industrial Growth Institute Podcast Episode 12
Summary
In Episode 12 of the Industrial Growth Institute Podcast, host Ed Marsh and guest Kathleen Booth discuss the role of community in personal and professional development, as well as organizational success.
Boil it all down into a couple key quotes that convey Kathleen's commitment to communities:

"Community is the new Google."
"Community is the roadmap to all the stuff you need to figure out."
"Community is the support system for go-to-market executives."
"You could have the best Google optimization strategy in the world and you still might not get a chance to even go for that business because you didn't get mentioned in a community."

They highlight the importance of having a different perspective and a supportive community to overcome mindset barriers in industrial revenue growth.
Kathleen shares her journey from being the founder and CEO of a digital marketing agency to her current role as SVP of Marketing and Growth at Pavilion. They also discuss:
the value of community in learning, problem-solving, and finding opportunities
the need for continuous learning and the importance of surrounding oneself with smart and experienced individuals
importance of community and continuous learning in the fast-paced world of marketing
need for marketers to surround themselves with peers who are further along and have more knowledge, as well as the value of participating in communities as part of the job
the rise of AI and the erosion of trust in information
importance of marketing and sales alignment
need for a relationship-led approach to marketing.
Kathleen shares her insights on the future of marketing, including the emphasis on original research and data, authenticity, and unique points of view. She also highlights the potential of AI and the concerns surrounding its misuse. Finally, she encourages industrials to focus on building relationships, trust, and reducing friction in the buying process.
Takeaways
Having a supportive community and a different perspective is crucial for overcoming mindset barriers in industrial revenue growth.
Continuous learning and surrounding oneself with smart and experienced individuals are key to personal and professional development.
Community provides valuable resources, insights, and solutions for learning, problem-solving, and finding opportunities.
Community is the new Google, as people increasingly rely on their communities for trustworthy information and recommendations.
Being part of a community helps alleviate imposter syndrome and provides a support system for go-to-market executives.
Community is essential for staying up-to-date with the rapidly changing landscape of marketing and sales.
Community fosters collaboration, accountability, and personal growth, leading to individual and organizational success. Surround yourself with peers who are further along and have more knowledge to keep pace with the fast-changing marketing landscape.
Participating in communities is essential for personal growth and staying ahead of best practices.
AI has the potential to erode trust in information, and its misuse is a concern that needs to be addressed.
Marketing and sales alignment is crucial for revenue growth, and it requires good communication, shared metrics, and a focus on the company's success.
The future of marketing lies in original research and data, authenticity, and unique points of view.
Building relationships, trust, and reducing friction in the buying process should be the focus for industrials.
Takeaway Quotes from Kathleen Booth
"Community is the new Google."
"Community is the roadmap to all the stuff you need to figure out."
"Community is the support system for go-to-market executives."
"You could have the best Google optimization strategy in the world and you still might not get a chance to even go for that business because you didn't get mentione

Scott MacKenzie on the Business Development Power of Podcasting - Industrial Growth Institute Podcast Episode 11
Summary
Scott MacKenzie is the founder of Industrial Talk, an innovative and disruptive business that he founded after taking a company public, retiring, and wanting to do something fun.
But the business builds on a crucial discovery he made when he was running a staffing agency. It was a tough, competitive market in which he had difficulty differentiating his offering from others. Until he struck upon the idea of creating a podcast through which he could reach prospects and provide resources for the market as well.
Our conversation covers:
importance of marketing and media in the industrial sector
Scott's journey from a background in operations to becoming a marketing and salesperson
power of content and media in building relationships and trust with customers
how he uses media as a prospecting tool
Scott's super-efficient workflow and automation strategies
importance of diversifying revenue streams
his business model, including speaking engagements, training, content development, and white-label services
the importance of aligning marketing and sales
best and worst practices at trade shows
his Superbowl performance!
insights into the integration of marketing and sales and the role they play in revenue growth
exciting opportunities for business and offering guidance for industrial manufacturers.
Takeaways
Marketing and media are crucial for industrial companies to build relationships and trust with customers.
Content creation and media can be used as effective prospecting tools.
Building relationships through conversations and storytelling is key to successful marketing.
Efficient workflows and automation can streamline content creation and distribution.
Diversifying revenue streams is important for long-term business success.
Aligning marketing and sales is crucial for business success.
Trade shows require effective follow-up strategies to maximize impact.
Content development should be tailored to address customer problems and provide value.
The integration of marketing and sales is essential in the modern buying journey.
Check out Scott's website
LinkedIn: Scott MacKenzie and Ed Marsh 
Twitter: Scott MacKenzie and Ed Marsh
Instagram: Ed Marsh
YouTube:  @IndustrialTalk  and  @EdMarsh 
 
Show Transcript 
 
Chapters
00:00 Introduction and Background04:15 Transition to Marketing and Media08:13 The Importance of Marketing in the Industrial Sector11:18 Shift from Operations to Marketing16:38 The Power of Content and Media23:55 Extracting Stories and Getting People to Talk25:56 Efficient Workflow and Automation31:47 Diversified Revenue Streams38:25 Overview of Scott MacKenzie's Business Model39:18 Speaking Engagements and Training40:44 Content Development and Industrial Academy42:46 Best and Worst Practices at Trade Shows46:07 Maximizing Impact at Trade Shows48:19 Scott MacKenzie's Hobbies and Fun Activities51:40 Scott MacKenzie's White Label Services54:14 The Importance of Aligning Marketing and Sales56:49 The Role of Marketing and Sales in the Buying Journey01:00:25 The Integration of Marketing and Sales01:02:27 The Role of Marketing and Sales in Revenue Growth01:05:11 Exciting Opportunities for Business01:09:36 How to Contact Scott MacKenzie01:10:05 Scott MacKenzie's Guidance for Industrial Manufacturers
 
#podcast #BusinessDevelopment #Prospecting #LeadGeneration #TradeShows #Broadcasting #SalesLeads #Coldcall #Media #ManufacturingMarketing #IndustrialSales #B2BSales #IndustrialMarketing #Innovation #CompetitiveBusiness #Differentiation

Trista Morrison Talks Strategic Communications, Strategy and Boards - Industrial Growth Institute Podcast Episode 10
Summary
Trista Morrison, a seasoned bio-pharmaceutical executive, started her career as a biologist and journalist. In this episode she discusses the intersection of communications and strategy in the industrial growth context.
Trista emphasizes the importance of understanding the company's vision, mission, and strategy in order to effectively communicate with various audiences. She explores the concept of story making, which involves aligning communications with the company's strategy and purpose and highlights the significance of the 'so what' factor in storytelling.
The conversation also touches on:
Trista's perspective as an independent director
the need to convey the impact and value of products or services
role of communications in internal engagement and the importance of prioritizing different audiences based on business needs
content creation requires discipline and the ability to overcome writer's block
positioning company leaders as industry experts requires understanding the target audience and finding ways to fit into their interests
differentiating strategy and execution, and communications should support corporate goals
a dedicated communications function depends on the size and needs of the company
role of consultants and agencies can provide strategic guidance and execution support
impact of AI on communications will vary depending on the industry and its sensitivities
crafting communications to attract and retain talent involves understanding the target audience and reaching them through the appropriate channels
Boy scouts, hobbies, reading and dogs
Takeaways
Communications is a forcing function for strategy, as it prompts companies to define their approach and philosophy on various topics.
Story making is an important aspect of communications, as it involves aligning communications with the company's strategy and purpose.
The 'so what' factor is crucial in storytelling, as it helps convey the impact and value of products or services.
Communications plays a vital role in internal engagement, ensuring that employees have the information they need to make decisions aligned with the company's vision and strategy.
Prioritizing different audiences based on business needs is essential, as it allows companies to effectively communicate with the right stakeholders at the right time. Communications should always be respectful and considerate of the audience.
Overcoming writer's block requires discipline and setting a timer to get started
Positioning company leaders as industry experts requires understanding the target audience and finding ways to fit into their interests
Strategy and execution should be clearly differentiated, and communications should support corporate goals
The need for a dedicated communications function depends on the size and needs of the company
Consultants and agencies can provide strategic guidance and execution support
The impact of AI on communications depends on the industry and its sensitivities.
Crafting communications to attract and retain talent involves understanding the target audience and reaching them through the appropriate channels.
Transparency and authenticity are key in communicating the company's story and values to potential employees.
Resources for learning about communications include organizations like PRSA and NRI, as well as seminars and courses.
Communications is a critical function in setting and achieving corporate goals.
Trista's website
LinkedIn: Trista Morrison and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: Ed Marsh
Show Transcript
00:00 Introduction and Overview09:05 Communications as a Forcing Function for Strategy 25:55 The Importance of Storytelling in Industrial Growth 28:09 Internal Engagement: Communicating the Company's Vision 30:29 Prioritizing Audiences for Effective Communication 33:04 Respectful Communications 3

Mario Trafficante on Athletes in Sales & Managing Sales KPIs: Industrial Growth Insitute Podcast Episode 9
Summary
In Episode 9, host Ed Marsh interviews Mario Trafficante, a former NCAA hockey player, and an expert in technology optimization and sales.
Mario shares his background and expertise in B2B sales and discusses the importance of routine, discipline, and constant improvement in his personal and professional life.
The conversation covers many topics including:
the connection between hockey and sales
his career transition from finance to sales and the value of a finance background in enterprise sales
attributes of collegiate athletes that excel in sales and the role of competitiveness in driving sales performance
perspectives on sales management
value of team sports in developing a competitive nature and camaraderie among salespeople
different sales methodologies and the importance of tailoring them to individual salespeople
the role of compensation in driving sales results and the need for a balance between earning potential and company goals.
Mario highlights the significance of activity and quality conversations in sales, as well as the importance of coaching and developing sales reps. He also discusses the challenges of managing underperforming sales reps and the need for accountability.
Mario shares his perspective on effective pipeline reviews, avoiding deals that end in no decision, and the role of marketing in supporting sales. He concludes by discussing the future of sales and the importance of personal interaction in a world driven by technology.
Takeaways
#TeamSports can help #salespeople tap into their competitive nature and create camaraderie.
#SalesMethodologies should be tailored to individual salespeople and their strengths.
#Compensation plays a crucial role in driving #SalesResults, and a balance must be struck between earning potential and company goals.
Activity and quality conversations are key metrics to track in sales.
Coaching and developing sales reps is essential for their success.
Managing underperforming sales reps requires a case-by-case approach and providing support through #PerformanceImprovementPlans (PIPs).
Effective #PipelineReviews involve digging into the details of deals and providing guidance to move them forward.
Avoiding deals that end in no decision requires asking the right questions and understanding the customer's needs.
Marketing should focus on providing qualified leads and creating tailored, focused events to engage customers.
#SalesEnablement tools should support personalized, intimate conversations with customers.
Personal interaction and building relationships are still crucial in sales, despite advancements in technology.
#AI will have a significant impact on sales, but human interaction will remain essential.
Continuing education in sales is important, and learning from various sources, such as military books, can provide valuable insights.
Success in #ComplexSales requires knowledge, courtesy, curiosity, and #accountability.
Check out Mario's website
LinkedIn: Mario Trafficante and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube:  @EdMarsh 
 
Show Transcript
 
Guide to Episode
00:00 Introduction and Overview 00:29 Mario Trafficante's Background and Expertise 05:03 The Importance of Routine and Discipline 06:49 The Connection Between Hockey and Sales 13:09 The Value of Finance Background in Enterprise Sales 15:08 Direct Sales vs. Channel Sales 21:46 Transitioning from Sales Rep to Sales Manager 23:13 Maintaining Relationships and Losing Friends as a Sales Manager 25:42 The Role of Sales Managers in Company Success 27:13 Attributes of Collegiate Athletes that Excel in Sales 29:33 Selling to Manufacturing, Food, and Logistics Industries 31:15 The Importance of Prospecting and Discipline 35:06 The Role of Competitiveness in Sales 36:20 The Value of Team Sports in Sales 38:09 Sales Methodologies and Training 40:13 The Role of Compensation in Drivin