Throughout my career as a sales rep (and later as a manager), I was always puzzled by whether a deal could close or not. Was there a way to constantly deliver on forecast? What could potentially increase my deal close rate?
Was there a more effective way to qualify my deals?
In my search for an answer, I came across a ton of whacked-out theories and complicated probability calculations. But in the end, most of my forecasts (and those of my reps) were still based on gut feelings and wishful thinking.
That was until I worked with John McMahon.
John was (and still is) an almost legendary sales leader who consistently increased company revenues by 100% year after year wherever he went. (He even grew PTC, a software company, from $1.1M to $1.1B in just nine years). Since then he built sales team in Bladelogic or BMC and sits on the board of many great performing companies like MongoDB or Snowflake.
He was phenomenal at building teams and helping sales managers to scale. But one of the things that stood out the most about John’s performance were his shockingly accurate forecasts.
What was his secret?
He always focused on the fundamentals of a deal.
“Before going into the details of any opportunity,” he said, “there are three questions you need to ask. Know their answers, and you’ll know the chance of closing a deal this quarter.”
These questions are so simple, yet incredibly powerful. After I started implementing them, my forecasts became more accurate than a Swiss-made clock.
And they are the exact questions that executives at your account will ask before approving any decsion.
They are The 3 Why’s That Open Your Eyes.
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How One Simple Tool Can Change the Way You Forecast (In Just 3 Minutes)
/0 Comments/in iSEEit News, Productivity /by Rizan FlennerAccurate forecasting is really the high art of sales. It’s a mystery that few salespeople ever master.
And although there are a few elite reps out there that can deliver shockingly accurate forecasts based solely on their ‘gut feeling,’ the majority of salespeople struggle to forecast correctly.
So, how can you know whether a deal is going to close or not? And how can you make sure you take the right steps to drive it to closure?
In the 20 years I’ve been in sales, I’ve had the chance to learn from some of the best managers and executives in the business. And they’ve taught me that there are certain elements that are common to just about every successful deal.
By having these elements in place, I was able to close more deals at higher values, within a predictable timeframe. Needless to say, my quota achievement and commissions went through the roof.
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10 Common Sales Hiring Mistakes – How to Hire the Right Salesperson
/0 Comments/in Productivity, Sales Hints /by Rizan FlennerLast week, I wrote about the worst hiring experience I ever had, and how it ended up costing my company $4 million in lost revenue – the equivalent of a luxury penthouse (read it here if you haven’t already).
It was an expensive learning experience. But since then, I’ve uncovered a few things about what NOT to do when hiring a new sales rep.
Here are 10 common hiring mistakes I made as a sales manager – as well as how to fix them and hire the right kind of salesperson.
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How A Single Bad Hire Cost Me a Luxury Penthouse
/0 Comments/in Sales Hints /by Rizan FlennerHere’s a quick story about the worst hiring decision I ever made.
I was working as a sales manager at a large software company at the time. We were looking to grow and had just done a headcount. Senior management said it was time to bring another sales rep on board.
We contacted headhunters, vetted the shortlist, and interviewed the candidates. All told, it took my colleagues and me six months before we finally found someone that seemed to fit.
Even at this point, some of my colleagues had misgivings about this guy. But we were already halfway through the year and a man short. I could see I was barely going to make quota as it was. And my boss was all over me to get someone on board – fast.
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iSEEit selected as a ‘Top Startup’ for the Go Silicon Valley Initiative
/0 Comments/in iSEEit News /by David PeraltaVienna, Austria (February 25, 2015) – We are proud to announce that iSEEit has been selected as a top startup for the ‘Go Silicon Valley 2015’ business accelerator initiative.
Every year, the Go Silicon Valley program selects the top 16 startups from a large pool of applicants. The founders of these companies are then flown to Silicon Valley, where they’ll have the opportunity to present their business plans to veteran angel investors and venture capital firms – as well as kickstart their company right at the heart of the startup capital of the world.
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The 10 Key Ingredients of a Successful Sales Rep
/1 Comment/in Sales Hints /by Rizan FlennerThroughout my career as a sales manager, I always found it fascinating that certain sales reps always managed to close big deals.
Many of them were already working with large accounts, but some of these accounts were said to be already dead or only worth a few upgrade deals at best. But for sure no $1 million opportunities.
So how did these guys transform lifeless deals into million dollar opportunities? What makes these reps so effective at closing large deals and others not?
Here are 10 key ingredients of successful sales reps:
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11 Things You’ll Never Hear Your Salespeople Say About CRM
/0 Comments/in Sales Fun /by Rizan FlennerTo them, it’s like the developers of the top-selling CRM systems got together in a smoke-filled room and thought:
“How can we make something that’s the exact opposite of what salespeople need?”
So just for fun, we’ve collected a list of 11 things you’ll never hear salespeople say about CRM.
1. I love my CRM so much, I can’t live without it
2. Thanks to my CRM, I’ve never been so productive in my life
3. It works great on my iPad
4. It’s so logical and easy to use
5. I love the high-quality contact data inside
6. We finally got rid of our spreadsheets
7. Updating it is so smooth
8. It’s so much fun!
9. It reduces my admin big time
10. Even my boss is using it
11. It actually helps me sell…
Can you think of any more? Let us know in the comments below!
iSEEit Recognized as One of “The Top Sales Tools of 2014”
/0 Comments/in iSEEit News /by David PeraltaVienna, Austria (December 30, 2014) – Just a few months after launching, iSEEit’s sales intelligence and productivity tool has been named one of “The Top Sales Tools of 2014” by Smart Selling Tools.
Smart Selling Tools is recognized as one of the most influential sales and marketing blogs online. Every year, the team at SST compiles a list of the best sales enablement and CRM tools on the market today.
Here’s what SST President, Nancy Nardin, had to say about iSEEit’s selection:
“We chose iSEEit for this award because it provides a fresh new way to drive sales rep productivity and revenue… iSEEit will change the way salespeople think about and interact with their CRM. There really isn’t anything quite like it.”
Rizan Flenner, founder and CEO of iSEEit, couldn’t be happier. “To have this kind of recognition so soon after launching means a lot to us,” he says. “We know what a pain it is for most salespeople who use CRMs. Our goal is to make a difference for salespeople around the world and change the way they work. We see a world where sales is fun again, and salespeople actually enjoy using tools that make their lives easier. This award is a strong confirmation that we are on the right track.”
You can view the Smart Selling Tools Top Sales Tools of 2014 by clicking here.
Or check out a free trial of iSEEit by clicking here.
About iSEEit
iSEEit aims to disrupt the traditional CRM market with a solution that is reengineered and reimagined for the modern world of selling. It eliminates the hassles of yesteryear’s out-dated CRM technology, with a modern, visual interface that’s key to mapping the fastest route to closure.
Founded in 2013 to make life easier for sales people everywhere, iSEEit is privately held and already serving customers around the world.
Experience for yourself why the team at Smart Selling Tools has selected iSEEit as one of The Top Sales Tools of 2014. Check out our iPad app on iTunes or give our web app a try.
3 Simple Questions That Will Increase Your Close Rate
/19 Comments/in Most Popular, Productivity, Sales Hints /by Rizan FlennerWas there a more effective way to qualify my deals?
In my search for an answer, I came across a ton of whacked-out theories and complicated probability calculations. But in the end, most of my forecasts (and those of my reps) were still based on gut feelings and wishful thinking.
That was until I worked with John McMahon.
John was (and still is) an almost legendary sales leader who consistently increased company revenues by 100% year after year wherever he went. (He even grew PTC, a software company, from $1.1M to $1.1B in just nine years). Since then he built sales team in Bladelogic or BMC and sits on the board of many great performing companies like MongoDB or Snowflake.
He was phenomenal at building teams and helping sales managers to scale. But one of the things that stood out the most about John’s performance were his shockingly accurate forecasts.
What was his secret?
He always focused on the fundamentals of a deal.
“Before going into the details of any opportunity,” he said, “there are three questions you need to ask. Know their answers, and you’ll know the chance of closing a deal this quarter.”
These questions are so simple, yet incredibly powerful. After I started implementing them, my forecasts became more accurate than a Swiss-made clock.
And they are the exact questions that executives at your account will ask before approving any decsion.
They are The 3 Why’s That Open Your Eyes.
Read more
How to Handle Your Reps’ Objections to Your Sales Process
/0 Comments/in Productivity, Sales Hints /by Rizan FlennerIf you’ve ever tried to implement a structured sales process, then I’m sure at some point you’ve heard your reps bash against it.
It doesn’t work. The client isn’t complying with it. It’s too complex.
And so on…
And it’s painful, because the guys complaining are usually the ones who would benefit the most from a more structured approach. They are the 60-80% of your team who need help qualifying harder, focusing on the right opportunities, and overall just working more effectively and productively.
If they could only just see the beauty of your process, they’d be making more money and you as a manager would have less hassle hitting your targets.
That’s why most companies do spend a lot of time and efforts to design and implement a best practice sales process.
So why is it so difficult for sales people to adapt to it and so easy for them to find reasons why “it doesn’t work”?
Here is a list of the 4 most common objections to your sales process and how to handle them, so you can do everything you can to boost your team’s overall performance.
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Why Sales Training Is Wasting Your Money
/0 Comments/in Productivity, Sales Hints /by David PeraltaAccording to the American Society of Training and Development, companies spend about $20 billion a year on sales training. So it might come as a shock to hear that 87% of all information learned at sales training is lost after just thirty days.
That means out of every $100,000 you or your company invests into training, $87,000 is gone after just one month. And out of $20 billion, that’s $17.4 billion that disappears every year.
I spoke recently with Steve Amman, the Managing Partner at salesmeddic.com, who walked me through the top four reasons that sales training fails to have a long-term effect, and how to get the most out of your training investment.
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