8 episodes

A semi-monthly podcast where we will share isights from sales leaders sharing experience-based information that can immediately be applied to help your company grow its top line.

The Sales Experience Revenade LLC

    • Business

A semi-monthly podcast where we will share isights from sales leaders sharing experience-based information that can immediately be applied to help your company grow its top line.

    How to Hire New Sales People

    How to Hire New Sales People

    Revenade Sales Leaders discuss the best ways to hire new sales talent.Transcript
















    Hello and welcome to the Sales Experience. A semi-monthly podcast where
    we will share insights, lessons learned and best practices from top sales
    leaders. Each episode will provide experience based information that can be
    immediately applied to help your company grow its top line.----more----

    Sarah:                My name is Sarah Lohrmann
    and I will be your host and moderator on your journey through the world of
    sales. To kick things off today, I’m going to be talking to two of Revenade’s
    sales leaders about a topic that’s becoming increasingly more important across
    the country, how to hire new sales people. But first, let’s start with a brief
    look at this day in business history where we’re gonna highlight a key event
    that took place on this day.

                                       

                               On this day
    in business history in 1867, the U.S. made a significant business decision and
    ratified a treaty with Russia for the purchase of Alaska. This purchase allowed
    the U.S. to add over 586,000 square miles of new territory for only two cents
    an acre. Today, Alaska helps boost the U.S. economy through their oil, natural
    gas and fishing histories. Definitely not a bad purchase.

     

                              Now I’d like
    to welcome back Scott Williamson and Tim Phillips from Revenade. Both Scott and
    Tim have been featured on previous segments of our podcast and we’re so glad to
    have them back with us today. Thank you both so much for joining us.

     

    Scott:                 Thanks for being here.

     

    Tim:                   Thanks for having us,
    Sarah, good to be with you.

     

    Sarah:                Alright, so let’s say I’m a
    CEO of a new technology company looking to on-board new sales talent. What’s
    the first thing I should do and where do I go from there?

     

    Scott:                 That’s a great question,
    you know, we get that a lot from entrepreneurs who find Revenade either though
    this podcast or webinars or just web searches and the interesting thing is that
    a lot of times, entrepreneurs are sales people and they have passion around a
    particular piece of technology, it could be hardware, could be software, could
    be some integration of those line of services. And they think it is whatever
    they’re representing is the single most powerful solution in the world and
    anybody ought to be able to sell it. In fact, words that we hear a lot are that
    it’s as easy as shooting fish in a barrel, that you just need to go out there,
    next thing you know, the sales are going to fall from the sky like manna from
    heaven and that’s almost always not the truth.

     

    In fact, sales is
    just not an easy profession to start with, then you add on to the fact that the
    company’s brand new, then you add on to the fact of that that it's a technology
    oriented firm where by definition, you’re going to be selling a combination of
    technology related solutions and not just price based sale, it becomes very,
    very difficult. So the first thing to understand is sales is not easy and you
    will in fact have to find somebody who’s experienced and knows really how to
    sell.

                     

    The second thing to
    understand, and one of the most common mistakes that startup CEOs make is they
    think well I need to go find somebody with a book of business. And so they hire
    some crusty individual who comes to them, they find them through their network,
    this person says I’ve got a large Rolodex of people or a large contact list in
    today’s world, I’ve got lots of connections on LinkedIn and I’m gonna find a
    way to get you in the door. Cha

    • 27 min
    The Cost of Your Minute

    The Cost of Your Minute

    Revenade sales leaders discuss the cost of your minute and time management skills.Transcript
















    Hello
    and welcome to the sales experience, a semi-monthly podcast where we reach our
    insights, lessons and best practices from top sales leaders. Each episode will
    provide experience-based information that you can look by to help your company
    grow its top line.----more----

    Stephanie:    Hi my name is Stephanie Jordan and I will be
    your host and moderator on your journey through the word of sales. To kick
    things up today I will be talking to two of Revenade’s sales leader about the
    money value of time. But first let’s start with a brief look at this day in
    business history where we highlight the key events that’s took place on this
    day.

    Stephanie:    On this day in history in 1968, Boeing rolled
    out his first 737 aircraft paving the way for commercial flying as we know it
    today. The 737 made such an impact that there are 1,250 airborne at any given
    time on average. This means two are departing or landing somewhere in the world
    at any five seconds. Today the 737 is the bestselling jet airliner in the
    history of aviation. I would definitely call that a great business innovation.

    Stephanie:    Now I would like to take a minute to
    introduce Scott Williamson and Tim Phillips from Revenade. Both Scott and Tim
    have been featured on previous segments of our podcast and we are so glad to
    have them back again. Thank you both for joining us.

    Scott:             Thanks a lot Stephanie.

    Tim:                Stephanie, good to be with you.

    Stephanie:    Well, Scott and Tim, there is one thing that
    holds true all across the globe 365 days a year, there are only 24 hours in a
    day. How each person decides to spend those 24 hours is completely up to them.
    But today I will like to talk to you two about time management and specifically
    the money value of time. First, why don’t you talk to me about what the phrase
    “money value of time” means to you?

    Tim:                Sure I will be happy to,
    Stephanie. Great question. It’s an unusual phrase and what it really does is it
    plays off of the fact that we all know what the time value of money is. We may
    have been in a financial analysis class or investment class, and in there we
    learned that a dollar today is worth more than a dollar tomorrow. It’s the
    basis for all compounding but also for discounting future cash flows so we
    could make financial decisions. What it really means, though, is that we turn
    that and talk about the money value of time. 
    And you mentioned the word time management as one of the things we are
    going to be talking about today. When you really talk about time, time is only
    the truly non-renewable resource that we have and frankly we can’t manage time.
    The only thing we can do is to make a decision on what activities will we
    invest our time in and so when we tie that to the money value of time, what
    activities will we invest our time in that are going to yield the highest
    result in the shortest period of time. That could be in terms of sales or
    return on that investment and so that’s why we use that term so frequently, “the
    money value of time.” It really helps give us a good mind-set and how we are
    investing our time and to be very judicious in that.

    Scott:             Yeah, I think that a really good
    point in that far too often, especially in the corporate world we see people
    looking at their effectiveness based on how many meeting they are on. Like “I
    am so busy I have got meeting after meeting,” and they confuse activity as
    being a measure of value instead of results. So I think Tim’s phraseology here
    about the money value of time really puts the emphasis on the fact that let’s
    look at the things that we have to do and think in terms of which of the things
    that I’

    • 19 min
    A Day in the Life: Time Value of Money

    A Day in the Life: Time Value of Money

    Revenade Managing Director, Tim Phillips, discusses the money value of time.Transcript














    Hello and welcome, this is Tim Phillips with Revenade,
    and today I want to share with you an idea called the time value of money. I
    know many of you have studied financial and investment analysis and in that we've all learnt about the concept of the time value of money that a dollar
    today is worth more than a dollar tomorrow and it is the basis for all
    compounding and also the discounting of future cash flows and with it we can
    make sound investment decisions when we have competing alternatives. ----more----I want you
    to set aside now though, I want to shift your attention and change your paradigm
    and the reason for that is that the truly only non-renewable resource that we
    have is time. And I know many of us in our career have taken time
    management courses and we have day timers and we have all kinds of electronic
    devices to help us in scheduling ourselves, but the truth is that we can't
    manage time.  Time marches on, time has
    no beginning and time has no end and we are here for just a brief spark as we
    live our lives and our careers what we do have though is that we have the power
    and ability to choose which activities we invest our time and we want to
    invest our time in those activity that yields the highest value. So how do we
    define this? Hence, the money value of time is that we are having a business
    conversation that whether you are an executive, or a manager, a sales
    professional, think in terms of what is the value of an hour of my time. So
    let's say I want to earn a million dollar this year and there is roughly 2000
    working hours in a year, so the money value of that one hour is 500 dollars. A
    million dollar divided by 2000 hourly equivalent is 500 dollars an hour if you
    want to earn 200,000 dollars it’s the same concept divide 200 thousand by a
    thousand dollars its 100 dollars an hour the reason why we are looking at it
    this way is that we can evaluate what activities am I doing throughout the course
    of the day that I should be, and I could be outsourcing or delegating to
    someone else that doesn't yield that higher value. So in essence if I can
    outsource an hour worth of activity to someone else that they can do
    effectively for less than 500 dollars an hour, then I should pay them up to 500
    dollars an hour to do that to free me to focus my time in those areas and those
    activities that are going to yield the highest value. So if I'm an executive my
    focus is shareholder value always increasing shareholder value and the way that
    I do that is to be making decisions so instead of gathering information and
    doing analysis and comparative analysis to make a decision, I delegate that. What
    I want to do though is have as many hours in the day as possible to be focused
    on activities where I can invest my time that is going to increase my
    shareholder value. So I really want to be in a position to be making many
    meaningful decisions to maximum my effective hourly rate. If I'm a sales
    professional, we all know about the golden selling hours 7:30 am to 5:30pm
    Mondays through Fridays those are the time I have to speak with prospects to
    qualify them, to give demonstrations to submit proposals to make
    presentations in other to close. My activity as a sales professional should be
    focused on accelerating the sales process by finding more and highly qualified
    opportunities thereby investing the time to position and to present and to
    close, I can accelerate my sales performance. So anything that is strenuous or
    outside that or that will steal away from those hours, I want to outsource or I
    want to delegate. So I want to turn you on to two really cool web services one
    is called fiverr.com
    and the other is Elance.com even if you are a new sales professional or a
    manager and you don't have a full time executive assistant you need on

    • 7 min
    The Importance of Networking

    The Importance of Networking

    Revenade Sales Leaders discuss the importance of networking, especially during down times in the market.Transcript
















    Hello and welcome to The Sales Experience,
    a podcast where we will share insights, lessons learned and best practices from
    sales leaders.  Each session we will do
    our best to provide experienced based information that you can immediately apply
    to help your company grow its top line.----more----

    My name is Sarah Lorhrmann and I’ll
    be your host and moderator on your journey through the world of sales.  To kick things off today, I’ll be talking to
    two of Revenade sales leaders about the ever increasing importance in building
    your network but first let’s start with a brief look on this day in business
    history where we highlight a key event that took place on this day.

     

    On this day in history in 1996.  IBM’s Deep Blue computer became the first
    machine to win a chess game against a reigning world champion under the regular
    time controls.   The publicity that
    surrounded this chess match was huge, although the world champion narrowly
    edged out the computer four matches to two, IBM garnered a ton of media
    attention and further established itself as a computer technology powerhouse.

     

    Now I would like to take a minute
    to introduce Scott Williamson and Tim Phillips from Revenade.  Scott Williamson is the founder of Revenade
    and serves as the firms managing partner. 
    For over 25 years he has helped companies throughout the world developed
    and executes strategies that will accelerate profitable revenue growth.  His partner, Revenade, is none other than Tim
    Phillips who serves as the managing director. Tim brings over 30 years of
    professional leadership in executive expertise as well as a immeasurable
    knowledge and expertise in the sales arena.  Thank you both so much for joining us today.

     

    Scott:                Thank
    you very much Sarah

     

    Tim:                   Thank
    you Sarah, it’s good to be here.

     

    Sarah:                Scott and Tim, the current
    market environment in Houston has really taken a turn recently, due to the
    declining oil prices.  Businesses are
    changing at rapid pace and individuals are quickly learning that they have to
    rely on relationships now more than ever to help their businesses to continue
    to thrive.  Can you guys talk to us a little
    bit more about the significant impact you guys have seen in building your
    customer network?

     

    Tim:                   Yes,
    that’s a great question Sarah and you’re exactly right, we have seen a
    tremendous change in the Houston market, not only the Houston market but the
    overall energy market globally, due to the recent decline in oil prices.  But in that everything in life is a cycle and
    we’ve seen the boom bust cycle in this industry in particular probably every
    seven years.  And I think the main thing
    in looking at this is not in terms of how I do my network to take advantage of
    it but really building a network with the minds eye to seeing the value in people
    and how I can deliver value in helping other people try to achieve what they
    want to achieve.  So networks, often
    times people think well, I need to know all the different people in my industry
    and they’re doing it from a really mercenary position.  What can I get out of it, Instead of how can
    I help somebody else? 

                               Because
    usually what you find is, if you can help somebody else that will come back
    five or tenfold and now in a time when we are seeing reductions in force and
    constrictions and contractions in the industry, people need help.  So always be on the lookout to help because
    at the end of the day, businesses don’t do business with businesses.  People do business with people and if you
    have a personal relationship with

    • 22 min
    The Sales Experience: A Day in the Life - 10 + Tips for How to Demo

    The Sales Experience: A Day in the Life - 10 + Tips for How to Demo

    Scott Williamson shares 10+ tips about how to prepare and get the most out of your demos.Transcription
















    You know I just finished a very tough, but rewarding day. I conducted
    demos all day long. Some in person, and some remote. And the good things is,
    they all went really, really well.----more----So before I finish my day, get a big bowl of ice cream and sit down and
    watch Seinfeld re-runs, I’m going to share with you some of the tips that we
    have in our Revenade Sales Playbook that allow us to conduct excellent
    downloads.The first is to make sure that you have an agenda that is established
    well in advance of the meeting. Make sure you sit down with your client or
    multiple client, prospect-type personnel and hash out an agenda that’s going to
    meet all of their needs. But don’t forget to consider your needs. A demo is a
    very significant investment of your time. You need to make sure that that time
    is being used wisely. You’re building credibility with your client, but you’re
    also hoping to learn something in that process and move the sale to the next
    step.Now, the next thing that you’re trying to do is make sure that you have
    information on all of the attendees who are going to be in the meeting. Those
    attendees have titles, they have roles, they have expectations. Do your
    homework well in advance, get information off of Google, get information off of
    LinkedIn, off of Facebook—wherever you can find it on the internet. But also,
    don’t be afraid to just ask your prospect about the people who are going to be
    in the room. What are they expecting? What are their likes? What are the things
    they don’t like? And try and find out as much about those people as you can
    before you get into that meeting. Now the third thing is to confirm technology. And again, this is a
    really basic thing, I can’t tell you how many demos I’ve been on where the
    person who’s conducting the demo didn’t do his or her homework in advance and
    shows up with a laptop or a computer that’s VGA and they only connection they
    have in the room is HDMI. Make sure that you understand in advance what
    projection device is going to be there. What the resolution on the monitor is
    going to be or the projection device. That you have the correct connection
    cables and so forth. If it’s a web demo, make sure that you understand that you
    have a conference line that everybody can dial into and that there’s not some
    kind of limit on the line itself.The fourth thing is when you’re actually conducting the demo and you’re
    kicking the demo off, this is your opportunity. You’re the master of
    ceremonies. You have the ability to set the stage and make sure that everything
    is going to go according to your plan that you’ve agreed to with your client
    prospect.So, recap the agenda. Do introductions. And this is a great opportunity
    for you to go back and confirm with each person in the room, I heard, Sam, that
    you are looking for this? Sally, I heard that you want to see these types of
    features? And here’s the time that we have allocated. We’ll go through this,
    we’ll take questions during the demo, we’ll take questions at the end—however
    you want to run it, you set the guidelines at the beginning of the demo itself. Next, or fifth tip, is make sure you’re making eye contact with the
    people in the room. Don’t demo by looking all over the place, look at the
    people you’re demo-ing. Yes, obviously you need to look at the machine where
    your software is running. Or if you are running where the software is being
    projected on a big screen on the wall, you might have to look at that. But
    they’re there not just to see your product, they’re there to see you. So make
    sure that you are letting them see you and that you are looking at them to
    gauge their reactions to various functions and features that you are showing
    them throughout

    • 9 min
    Building a Winning Sales Team with the Right People

    Building a Winning Sales Team with the Right People

    Revenade leaders, Scott and Tim, discuss insights about how selecting the right people for the right roles helps businesses operate to the best of their abilities.Transcript
















    Hello and welcome to the Sales
    Experience, a podcast where we will share insights, lessons learned, and best
    practices from sales leaders. Each session we will do our best to provide
    experienced based information that you can immediately apply to help your
    company grow its top line.----more---- 

    Hi, this is Sarah, and today we’re going to be continuing our series on
    people, process, and technology. Last time we talked about how process and
    technology seamlessly work together. So today we’re going to be picking up
    where we left last time with people.

    Before we dive in, let’s take a brief look at this day in business history
    where we highlight a key event that took place on this day.

    This day in business history marks the birthday of the Rose Bowl. Since
    1902, the Rose Bowl has been a definitive marker of college football
    excellence. Along with providing entertainment for millions of households across
    the nation New Year’s Day, the Rose Bowl serves as a sponsorship mecca.
    Sponsors pay up to $20 million dollars to get their name tacked on as a presenter
    of this famous game, and corporations dole out big bucks for commercials, up to
    a million dollars for 30 seconds, but it’s well worth it. An estimated 35
    million viewers will be tuning in to this year’s game and over a hundred
    thousand attending the event live. So if you’re looking to get your company’s
    out there, this isn’t a bad marketing strategy. 

    Sarah:                Now I’d like to take a
    minute to introduce our current guests, Scott Williamson and Tim Phillips, from
    Revenade. Scott Williamson’s the founder of Revenade and serves as the firms
    managing partner, and his partner at Revenade is Tim Phillips, who serves as
    the managing director. Thank you both so much for joining us today.

     

    Scott:                  Sarah, it’s great to be
    here again.

     

    Tim:                    Thanks, Sarah! Good to
    be with you.

     

    Sarah:                Great! Well, Scott and Tim,
    we all know that people are really important to selling, and, in this industry,
    there’s kind of a huge turnover rate as far as sales people and sales leaders
    go. What are some red flags and common mistakes in finding the right sales
    people for your organizations?

     

    Scott:                  So, you know, Tim and I
    talk about this all the time with our clients. In fact, we’ve talked about it
    internally as well, and hiring a sales person is a very, very difficult thing.
    When you think about it, sales people, in general, are very good at talking
    about how good they are. And so the best sales job that a sales person will
    ever do is in the interview cycle. Every deal that was ever closed at every
    company they’ve ever worked at in the past is automatically attributed to them.
    So the challenge in any organization that’s trying to hire a sales person is to
    get that interview cycle correct, and that’s very, very difficult.

     

                               Now, Tim,
    you’ve interviewed many, many people in the past. You’ve hired lots of people.
    What are you seeing as some of the common pitfalls in that process?

     

    Tim:                    Well, I think there
    are several pitfalls, but last cast this, if we may, in terms of best practices
    that people can use. Number one is really understanding what type of sales
    person we need at what point in time given the evolution or the maturity of our
    organization. So this ties back fully to our last conversation, Sarah, on
    process and why we said we really need to define what is our sales process, and
    what are the roles that are required to manage that process? That, then, leads
    us to

    • 23 min

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