CEO's, CFO's, and business leaders in general are waking up to the fact that there is no more to cut and they must grow revenue organically.
More and more survey results from Accenture, Aberdeen, CSO Insights and others are pointing directly to you, (The Sales Leader) to pull togehter an organic strategy that will grow revenue.
Measure - Coach - Optimize.. Hold your sales managers and sales people accountable, but help them, coach them, teach them, lead them...
Patrick
Wednesday, December 30, 2009
ForceLogix now listed on the Toronto Strock Exchange TSXV: FLT
ForceLogix, Inc. Announces Completion of Toronto Stock Exchange TSXV: FLT Share Exchange
Transaction and Related Financing
Date: December 16, 2009
ForceLogix, Inc. (the “Company”) which provides consulting and software solutions in the area of sales
performance management is pleased to announce the closing of a share exchange transaction with
Courtland Capital Corp. (“Courtland”) on November 30, 2009. Courtland is listed as CTK.P-V on the
TSX Venture Exchange.
On August 28, 2009, the Company, all of its shareholders and Courtland entered into an amended and
restated share exchange agreement whereunder the shareholders of the Company exchanged their shares
for the issuance of 51,000,000 special warrants of Courtland (the “Exchange Transaction”).
Messrs. Patrick Stakenas and Stephen Potts were appointed to the board of directors of Courtland.
Patrick Stakenas, William Butrym, Stephen Potts, Troy Wing and Tim Hackett were appointed as
President and Chief Executive Officer, Chief Financial Officer, Senior Vice President, Chief Technology
Officer and Vice President, Sales, respectively.
Immediately following the closing of the Exchange Transaction, Courtland closed a brokered-financing
(the “Financing”) by issuing 20,061,875 units (the “Units”) for gross proceeds of $2,006,187.50. The
agent of the private placement received options to acquire common shares of Courtland at a price of $0.10
per share until November 30, 2011 and a corporate finance fee of $30,000.
Courtland also closed a non-brokered private placement (the “Private Placement”) of 1,300,000 Units for
gross proceeds of $130,000, of which principals of Courtland subscribed for 300,000 Units. 2,107,000 of
the aggregate Units subscribed for under the Financing and the Private Placement are subject to a fourmonth
hold period.
In connection with the closings of the Exchange Transaction and the Financing, Courtland granted
3,000,000 options to persons eligible under the stock option plan at an exercise price of $0.10 per
common share which options expire five years from the date of grant.
Courtland has taken corporate action to change its name to Forcelogix Technologies Inc. and its stock
ticker symbol to “FLT”. Courtland is in the process of filing final documents concerning the Exchange
Transaction and Financing with the Exchange. Upon receiving final approval of the Exchange
Transaction from the Exchange, Courtland will be a software-as-a-service provider operating under the
name ForceLogix Technologies Inc. with the new stock symbol of “FLT”.
Following the Exchange Transaction, the Financing and the Private Placement, ForceLogix Technologies,
Inc. has 42,361,873 issued and outstanding Common Shares and 35,000,000 non-exercised special
warrants.
ForceLogix Technologies, Inc. currently anticipates closing an additional private placement on or about
December 18, 2009 for maximum gross proceeds of $700,000.
For further information please contact Mr. Patrick Stakenas, President and Chief Executive Officer of ForceLogix
Technologies Inc. at (847) 281-9307.
This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy
securities, in any jurisdiction. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release
Transaction and Related Financing
Date: December 16, 2009
ForceLogix, Inc. (the “Company”) which provides consulting and software solutions in the area of sales
performance management is pleased to announce the closing of a share exchange transaction with
Courtland Capital Corp. (“Courtland”) on November 30, 2009. Courtland is listed as CTK.P-V on the
TSX Venture Exchange.
On August 28, 2009, the Company, all of its shareholders and Courtland entered into an amended and
restated share exchange agreement whereunder the shareholders of the Company exchanged their shares
for the issuance of 51,000,000 special warrants of Courtland (the “Exchange Transaction”).
Messrs. Patrick Stakenas and Stephen Potts were appointed to the board of directors of Courtland.
Patrick Stakenas, William Butrym, Stephen Potts, Troy Wing and Tim Hackett were appointed as
President and Chief Executive Officer, Chief Financial Officer, Senior Vice President, Chief Technology
Officer and Vice President, Sales, respectively.
Immediately following the closing of the Exchange Transaction, Courtland closed a brokered-financing
(the “Financing”) by issuing 20,061,875 units (the “Units”) for gross proceeds of $2,006,187.50. The
agent of the private placement received options to acquire common shares of Courtland at a price of $0.10
per share until November 30, 2011 and a corporate finance fee of $30,000.
Courtland also closed a non-brokered private placement (the “Private Placement”) of 1,300,000 Units for
gross proceeds of $130,000, of which principals of Courtland subscribed for 300,000 Units. 2,107,000 of
the aggregate Units subscribed for under the Financing and the Private Placement are subject to a fourmonth
hold period.
In connection with the closings of the Exchange Transaction and the Financing, Courtland granted
3,000,000 options to persons eligible under the stock option plan at an exercise price of $0.10 per
common share which options expire five years from the date of grant.
Courtland has taken corporate action to change its name to Forcelogix Technologies Inc. and its stock
ticker symbol to “FLT”. Courtland is in the process of filing final documents concerning the Exchange
Transaction and Financing with the Exchange. Upon receiving final approval of the Exchange
Transaction from the Exchange, Courtland will be a software-as-a-service provider operating under the
name ForceLogix Technologies Inc. with the new stock symbol of “FLT”.
Following the Exchange Transaction, the Financing and the Private Placement, ForceLogix Technologies,
Inc. has 42,361,873 issued and outstanding Common Shares and 35,000,000 non-exercised special
warrants.
ForceLogix Technologies, Inc. currently anticipates closing an additional private placement on or about
December 18, 2009 for maximum gross proceeds of $700,000.
For further information please contact Mr. Patrick Stakenas, President and Chief Executive Officer of ForceLogix
Technologies Inc. at (847) 281-9307.
This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy
securities, in any jurisdiction. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release
Thursday, December 3, 2009
Good Coaching … Not For Sissies.. Written by Steve Rosen
I recently saw this blog by Steven Rosen and it was worth forwarding on... good reading... and get started coaching!!
As many of you know I frequently write about coaching being the No. 1 management activity that drives sales performance. Gwen Teatro discusses what a good coach looks like. Find out whether you are a good coach. Feel free to share your thoughts on this article.
Coaching is one of those words that tends to lace everyday language at work but I wonder how many people who are supposed to be doing it actually know what it means or what it takes to be a good coach?
I don’t know about you, but there was a time when, on hearing the word coach, my mind automatically dredged up visions of cheerleaders and marching bands and all those sports analogies that we all love to hate but for which we have yet to find decent replacements.
And yet I have come to know coaching as a very powerful tool. That makes it worth talking about and worth doing.
There is no magic formula for becoming a good coach. Like most things worthwhile, it takes work. Period.
But, in the interests of starting somewhere, here’s what a good coach looks like to me:
• A good coach will be genuinely interested in knowing me
This does not mean that I expect you to be my best friend. What it does mean is that you will make an effort to understand my capabilities, my ambitions and my development needs. If you don’t take the time to know these things, you will be hard-pressed to know if you are getting my best performance
•A good coach will look past my excuses and challenge me to do my best
Sometimes, I won’t be able to see myself as you see me. Sometimes I will not want to stretch myself for fear that I might fail. As my coach, you will challenge me to go beyond the unspoken boundaries I have set for myself. You will not accept my excuses. You will show your faith in my abilities and my potential to do more by demanding more. And, should I fail, you will help me to extract the learning from it and move on.
•A good coach will hold me accountable for the commitments I make
When a new idea captures my imagination, it is easy for me to envision bringing it into reality. And yet, while I will understand the importance of it, there will be times when I need your help to stay the course. Starting is usually easy. Finishing is harder. As my coach I will rely on you to remind me of the importance of completing what I set out to do. And, if I shift my focus, you will help me ensure that my reasons are valid.
•A good coach will encourage me, support my efforts and celebrate with me when the time is right
There will be times when I question my own abilities; when I need guidance and resources to help me do my work and: when I need acknowledgement for the work I have already done. As my coach, I will count on you to deliver these things at the times when they are most appropriate. That will require you to talk with me regularly. Our talks do not have to be long but they must be truthful. The success of our relationship will depend on it.
So, that’s what a good coach looks like to me. But, what must a person have in his or her own “kit bag” of characteristics before s/he can hope to successfully fill the role of “good coach”? Well, I expect there are many but the four that come quickly to my mind are these:
•Self Assurance – If you are to be successful in your coaching efforts, you will often have to suspend your own desire for acknowledgement and work in service of helping someone else shine. This can be hard on the ego and as such, a healthy sense of self, both in terms of assurance and awareness, will be important.
•Self Discipline - As much as it is important for those you coach to follow through on their commitments, it is as, if not more, important for you, as coach to hold yourself accountable for the commitments you make to them.
•Courage – Coaching often requires difficult conversations. Courage is a cornerstone of good coaching and of good leadership. For a good coach or leader there is usually no place to hide.
•A sense of humour – Most good coaches know the value of humour, particularly the self-deprecating kind. It is an essential tool at work and in life. Enough said.
If this is all sounding just a tad onerous, you may be wondering what’s in it for you to be a good coach. Where’s the payoff? This is where I think it is:
•When those whom you coach do well, you do well
•When you coach others to do their best work, you get optimal results
•Good coaches are often recognized as having valuable leadership capability. And that opens doors for you.
If you have an appetite for more coaching observations, you must go to Mary Jo Asmus’ excellent blog post here. You won’t be sorry. http://www.aspire-cs.com/coaching-if-its-too-hard-do-you-give-up
So, what does good coaching mean to you? What would you add? What challenges do you face as a coach?
As many of you know I frequently write about coaching being the No. 1 management activity that drives sales performance. Gwen Teatro discusses what a good coach looks like. Find out whether you are a good coach. Feel free to share your thoughts on this article.
Coaching is one of those words that tends to lace everyday language at work but I wonder how many people who are supposed to be doing it actually know what it means or what it takes to be a good coach?
I don’t know about you, but there was a time when, on hearing the word coach, my mind automatically dredged up visions of cheerleaders and marching bands and all those sports analogies that we all love to hate but for which we have yet to find decent replacements.
And yet I have come to know coaching as a very powerful tool. That makes it worth talking about and worth doing.
There is no magic formula for becoming a good coach. Like most things worthwhile, it takes work. Period.
But, in the interests of starting somewhere, here’s what a good coach looks like to me:
• A good coach will be genuinely interested in knowing me
This does not mean that I expect you to be my best friend. What it does mean is that you will make an effort to understand my capabilities, my ambitions and my development needs. If you don’t take the time to know these things, you will be hard-pressed to know if you are getting my best performance
•A good coach will look past my excuses and challenge me to do my best
Sometimes, I won’t be able to see myself as you see me. Sometimes I will not want to stretch myself for fear that I might fail. As my coach, you will challenge me to go beyond the unspoken boundaries I have set for myself. You will not accept my excuses. You will show your faith in my abilities and my potential to do more by demanding more. And, should I fail, you will help me to extract the learning from it and move on.
•A good coach will hold me accountable for the commitments I make
When a new idea captures my imagination, it is easy for me to envision bringing it into reality. And yet, while I will understand the importance of it, there will be times when I need your help to stay the course. Starting is usually easy. Finishing is harder. As my coach I will rely on you to remind me of the importance of completing what I set out to do. And, if I shift my focus, you will help me ensure that my reasons are valid.
•A good coach will encourage me, support my efforts and celebrate with me when the time is right
There will be times when I question my own abilities; when I need guidance and resources to help me do my work and: when I need acknowledgement for the work I have already done. As my coach, I will count on you to deliver these things at the times when they are most appropriate. That will require you to talk with me regularly. Our talks do not have to be long but they must be truthful. The success of our relationship will depend on it.
So, that’s what a good coach looks like to me. But, what must a person have in his or her own “kit bag” of characteristics before s/he can hope to successfully fill the role of “good coach”? Well, I expect there are many but the four that come quickly to my mind are these:
•Self Assurance – If you are to be successful in your coaching efforts, you will often have to suspend your own desire for acknowledgement and work in service of helping someone else shine. This can be hard on the ego and as such, a healthy sense of self, both in terms of assurance and awareness, will be important.
•Self Discipline - As much as it is important for those you coach to follow through on their commitments, it is as, if not more, important for you, as coach to hold yourself accountable for the commitments you make to them.
•Courage – Coaching often requires difficult conversations. Courage is a cornerstone of good coaching and of good leadership. For a good coach or leader there is usually no place to hide.
•A sense of humour – Most good coaches know the value of humour, particularly the self-deprecating kind. It is an essential tool at work and in life. Enough said.
If this is all sounding just a tad onerous, you may be wondering what’s in it for you to be a good coach. Where’s the payoff? This is where I think it is:
•When those whom you coach do well, you do well
•When you coach others to do their best work, you get optimal results
•Good coaches are often recognized as having valuable leadership capability. And that opens doors for you.
If you have an appetite for more coaching observations, you must go to Mary Jo Asmus’ excellent blog post here. You won’t be sorry. http://www.aspire-cs.com/coaching-if-its-too-hard-do-you-give-up
So, what does good coaching mean to you? What would you add? What challenges do you face as a coach?
Tuesday, November 10, 2009
Dirty Little Secrets
What’s stopping us from closing the sales we should be closing? What’s causing us to lose prospects that need our solution? Why is the sales cycle so long? Why do we close less than 10% of our prospects?
Morgen contends it’s the sales model itself. In this disturbing, insightful book, Morgen introduces us to the behind-the-scenes world of the buyer: the culture, the system, the decisions, and the change management issues that need to be addressed before buyers can buy. The sales model has never taught us how to manage these off-line issues, and so we sit and wait until buyers do this on their own.
Now, in Dirty Little Secrets, we discover what’s going on and how we can help. Caution: if you are not ready to add some new skills or new thinking to what you’re already doing, this book is not for you. But if you are a serious student of sales, and want to find more prospects and close faster, this book is a wonderful guide through change management and decision making. After you’ve read the book, you’ll know exactly what is going on in your buyer’s environment and how to help them.
Morgen contends it’s the sales model itself. In this disturbing, insightful book, Morgen introduces us to the behind-the-scenes world of the buyer: the culture, the system, the decisions, and the change management issues that need to be addressed before buyers can buy. The sales model has never taught us how to manage these off-line issues, and so we sit and wait until buyers do this on their own.
Now, in Dirty Little Secrets, we discover what’s going on and how we can help. Caution: if you are not ready to add some new skills or new thinking to what you’re already doing, this book is not for you. But if you are a serious student of sales, and want to find more prospects and close faster, this book is a wonderful guide through change management and decision making. After you’ve read the book, you’ll know exactly what is going on in your buyer’s environment and how to help them.
Monday, November 9, 2009
Mark Smith of Ventana has this stuff figured out.. Companies should listen
See Mark Smiths, CEO Ventana Research below. Mark gathers his information from industry research, surveys and talking to the end users of SPM.
Organizations are now realizing the limits of what customer relationship management (CRM) and sales force automation (SFA) systems can do and that they need new applications to manage to expected outcomes.
The strong market demand for sales performance management software has shifted the focus to applications that can support the activities and processes associated with sales operations and performance....
We expect to see sales performance management become a top priority for sales and finance organizations that are looking reduce the risk and uncertainty around meeting their sales and financial performance targets.
For the thousands of sales organization still relying on silos of data, spreadsheets and e-mail to track and manage sales performance, the opportunity for improvement is significant. Ventana Research continues to advocate the importance of investment in sales performance management. We see the educational effort beginning to help organizations understand how to adopt a mature approach to sales effectiveness.
Organizations are now realizing the limits of what customer relationship management (CRM) and sales force automation (SFA) systems can do and that they need new applications to manage to expected outcomes.
The strong market demand for sales performance management software has shifted the focus to applications that can support the activities and processes associated with sales operations and performance....
We expect to see sales performance management become a top priority for sales and finance organizations that are looking reduce the risk and uncertainty around meeting their sales and financial performance targets.
For the thousands of sales organization still relying on silos of data, spreadsheets and e-mail to track and manage sales performance, the opportunity for improvement is significant. Ventana Research continues to advocate the importance of investment in sales performance management. We see the educational effort beginning to help organizations understand how to adopt a mature approach to sales effectiveness.
Wednesday, October 21, 2009
Smoke and Mirrors Sales Figures
Posted by Patrick Stakenas at 6:10 PM
More often than not, when it comes to companies meeting their sales figures, there is a disconnect between what the CEO expects and what the vice president of sales can realistically deliver. The true challenge for the head of sales lies in how to substantiate to the CEO why the numbers were missed, or, if they were made, how they were arrived at.
A recent article published on MarketingProfs.com titled “Lies, Damn Lies and Dashboards,” stated that CRM and business intelligence dashboards are often manipulated by managers and marketing execs to present a positive outcome that doesn’t necessarily promote the truth.
The key to establishing a trusting relationship between sales and the boardroom is to put in place a process for determining how a representative or team is doing against expectations. This often involves using technology that can track, measure, and report on both the leading and trailing indicators of the company's sales goals. It also provides you with a system for tracking the progress of your salespeople.
Done properly, senior sales leaders can deliver the truth that CEOs can and want to handle. If things are going well, the vice president should be able to explain what is driving the success of sales and why, and also how those sales will be sustained. If it is a rebuilding model, the same applies. The vice president must be able to show where the bad news is; he or she should have an explanation for what is happening with the sales trajectory, and what the plan needs to be to correct the situation.
CEOs make the connection between fluff and what matters. And with sales, it can't all be smoke and mirrors.
Patrick Stakenas is president and CEO ForceLogix, a Chicago-based company that builds on-demand sales performance management solutions.
More often than not, when it comes to companies meeting their sales figures, there is a disconnect between what the CEO expects and what the vice president of sales can realistically deliver. The true challenge for the head of sales lies in how to substantiate to the CEO why the numbers were missed, or, if they were made, how they were arrived at.
A recent article published on MarketingProfs.com titled “Lies, Damn Lies and Dashboards,” stated that CRM and business intelligence dashboards are often manipulated by managers and marketing execs to present a positive outcome that doesn’t necessarily promote the truth.
The key to establishing a trusting relationship between sales and the boardroom is to put in place a process for determining how a representative or team is doing against expectations. This often involves using technology that can track, measure, and report on both the leading and trailing indicators of the company's sales goals. It also provides you with a system for tracking the progress of your salespeople.
Done properly, senior sales leaders can deliver the truth that CEOs can and want to handle. If things are going well, the vice president should be able to explain what is driving the success of sales and why, and also how those sales will be sustained. If it is a rebuilding model, the same applies. The vice president must be able to show where the bad news is; he or she should have an explanation for what is happening with the sales trajectory, and what the plan needs to be to correct the situation.
CEOs make the connection between fluff and what matters. And with sales, it can't all be smoke and mirrors.
Patrick Stakenas is president and CEO ForceLogix, a Chicago-based company that builds on-demand sales performance management solutions.
Tuesday, October 20, 2009
Want more sales? Focus on the Highest Probability for Success!
Let’s face it, not all sales people are created equal. And, not only are they not created equal, some are successful regardless of the process or plan you have in place, and some fail, regardless. Identifying the sales people with the highest probability of improving will net you big results. So the question is, “Where do you start in determining who these reps. are?”
Start with what might not seem so obvious; your “B” players. Leave the “A” players alone for the time being, and focus primarily on the “B” players and up and coming “C” players and you will ultimately see better results faster. Within the “B and C” players, there are many reasons why they can’t seem to move up or ahead but they are often not obvious reasons, and focusing your energies here will help you determine what is holding them back. Many articles, white papers, and books may give you the holistic answer on solving your overall sales problem, but in a short answer, don’t try to solve the overall problem with one approach. Take a closer look at where your highest probabilities of success exist, and start there in determining how you are going to get them to sell more.
The main reasons salespeople fail to perform are due to lack of direction and little to no accountability. Salespeople, no matter how professional or how experienced, need direction and should expect accountability. Your “B” performing salespeople can be your best asset if managed properly. Here is some thought on where and how you might want to focus:
Create a process where your managers have access to key data that will open up selling environment. Make information easily available to the manager, track who they are spending time with and if they are coaching these sales people. The sales manager must take responsibility for the success of each and every sales person independently. They are leading the charge on the front lines and many managers will simply “hope” that things will miraculously turn around in the broad scope. Sales managers must provide leadership and support to the salesperson and senior executives or business leaders must provide the framework for success. Providing the necessary outputs, expecting “one on one” coaching, tracking the progress, and holding each manager responsible to the success of each person openly will help you zero in on the opportunities.
Sales people must know exactly what is expected of them, but unfortunately most managers fail to communicate expectations clearly to their salespeople. It is common for salespeople and managers to think they’re doing fine, but, the company is considering them as underperforming and frustration begins to build at the senior management levels. Communicate expectations, such as what is expected for sales activities, customer meetings, product knowledge etc. in addition to sales revenue, and document this on a consistent basis through the use of sales performance management tools.
Your salespeople have a quota for a reason. Why on earth would you risk not attaining revenue by not knowing who has the greatest opportunity to make the number? It is one thing to rant and rave about accountability, but another still, to dig deep into what you are holding people accountable to. If you are only holding managers and sales people to a number, they will never get to the number. It is necessary to hold them accountable to getting to the number. How many deals are in play, how deep in the prospect is the sales person, what is the predictability of the sales person’s ability to deliver? Hold your managers accountable for knowing this. Weekly team meetings are great and necessary to understand the sales pipeline and sales activity, but go deeper to find out what is really happening. Find out if your sales manager really understands what is occurring during the sell cycle. Don’t wait until it’s too late, track each and every individual salesperson and discuss their performance ongoing against expectations; don’t wait for the weekly meeting or monthly performance review. Where you have poorly performing salespeople, they should be on a plan to achieve small milestones within a specific time frame.
Often times, companies think that will drive the end result with just an aggressive compensation plan. If your “B” sales person is happy with a certain income, no compensation plan in the world will motivate them to sell more. Again, it is imperative to know and understand each and every sales person and set standards at their level for performance. Annual reviews will not help this either. The review process must be a day to day process and your managers must be actively involved with each and every underperforming sales person and this process must be tracked to determine the manager’s ability to get the sales person to perform.
Start by simply identifying and focusing on the sales people with the highest probability for success. Take this step first and use technology to track the process and you will begin to see better, longer lasting results before you know it.
Start with what might not seem so obvious; your “B” players. Leave the “A” players alone for the time being, and focus primarily on the “B” players and up and coming “C” players and you will ultimately see better results faster. Within the “B and C” players, there are many reasons why they can’t seem to move up or ahead but they are often not obvious reasons, and focusing your energies here will help you determine what is holding them back. Many articles, white papers, and books may give you the holistic answer on solving your overall sales problem, but in a short answer, don’t try to solve the overall problem with one approach. Take a closer look at where your highest probabilities of success exist, and start there in determining how you are going to get them to sell more.
The main reasons salespeople fail to perform are due to lack of direction and little to no accountability. Salespeople, no matter how professional or how experienced, need direction and should expect accountability. Your “B” performing salespeople can be your best asset if managed properly. Here is some thought on where and how you might want to focus:
Create a process where your managers have access to key data that will open up selling environment. Make information easily available to the manager, track who they are spending time with and if they are coaching these sales people. The sales manager must take responsibility for the success of each and every sales person independently. They are leading the charge on the front lines and many managers will simply “hope” that things will miraculously turn around in the broad scope. Sales managers must provide leadership and support to the salesperson and senior executives or business leaders must provide the framework for success. Providing the necessary outputs, expecting “one on one” coaching, tracking the progress, and holding each manager responsible to the success of each person openly will help you zero in on the opportunities.
Sales people must know exactly what is expected of them, but unfortunately most managers fail to communicate expectations clearly to their salespeople. It is common for salespeople and managers to think they’re doing fine, but, the company is considering them as underperforming and frustration begins to build at the senior management levels. Communicate expectations, such as what is expected for sales activities, customer meetings, product knowledge etc. in addition to sales revenue, and document this on a consistent basis through the use of sales performance management tools.
Your salespeople have a quota for a reason. Why on earth would you risk not attaining revenue by not knowing who has the greatest opportunity to make the number? It is one thing to rant and rave about accountability, but another still, to dig deep into what you are holding people accountable to. If you are only holding managers and sales people to a number, they will never get to the number. It is necessary to hold them accountable to getting to the number. How many deals are in play, how deep in the prospect is the sales person, what is the predictability of the sales person’s ability to deliver? Hold your managers accountable for knowing this. Weekly team meetings are great and necessary to understand the sales pipeline and sales activity, but go deeper to find out what is really happening. Find out if your sales manager really understands what is occurring during the sell cycle. Don’t wait until it’s too late, track each and every individual salesperson and discuss their performance ongoing against expectations; don’t wait for the weekly meeting or monthly performance review. Where you have poorly performing salespeople, they should be on a plan to achieve small milestones within a specific time frame.
Often times, companies think that will drive the end result with just an aggressive compensation plan. If your “B” sales person is happy with a certain income, no compensation plan in the world will motivate them to sell more. Again, it is imperative to know and understand each and every sales person and set standards at their level for performance. Annual reviews will not help this either. The review process must be a day to day process and your managers must be actively involved with each and every underperforming sales person and this process must be tracked to determine the manager’s ability to get the sales person to perform.
Start by simply identifying and focusing on the sales people with the highest probability for success. Take this step first and use technology to track the process and you will begin to see better, longer lasting results before you know it.
Monday, October 19, 2009
The CEO and Boardroom can handle the truth on sales performance
By ForceLogix CEO Patrick Stakenas
One aspect of being a senior sales leader or vice president just does not seem to change.
Each month or quarter when senior sales leaders meet with the CEO or get invited into the boardroom, substantiating why the number was missed or why the number was made is always a difficult challenge. The challenge becomes even more difficult when the conversation shifts from process and deals to salespeople and sales management teams.
CEOs and boardrooms have little choice but to trust what is often the vice president’s opinion or what is a consolidated opinion based on conversations with sales management. While having subjective input is necessary, facts speak much louder in sales.
Senior sales leaders must track both the facts (objective) and the gut/emotion (subjective) and have a succinct operating plan with backup data to support the direction they are providing.
CEOs and boardrooms are under immense pressure to deliver to shareholders and investors. It’s in the best interest of the senior sales leader to deliver the truth. The key, however, is that senior sales leaders really have to know what the truth is related to sales performance and their salespeople and be able to stand behind it.
In a recent article published by MarketingProfs.com headlined “Lies, Damn Lies and Dashboards,” it was sighted how CRM and business intelligence dashboards are often manipulated by managers and marketing to present a positive outcome that doesn’t necessarily promote the truth.
This can happen understandably as the person delivering the message wants to find the positive in the situation and the data is typically delivered to the manager level in Excel spreadsheets. These are easily manipulated.
The key is putting in the process and technology to lock down the truth about how a representative or team is doing against expectations and locking down the process and technology that tracks, measures and reports on both the leading and trailing indicators to achieving set goals.
Providing this information in an easy-to-use fashion is extremely important. If it adds work to a manager, they will not use it.
The process and technology have to eliminate tasks, reduce downtime and provide actionable insight into what is happening. It also must allow a manager to input how a salesperson is progressing against coaching and training. The data must roll up to senior sales management untouched by mid-level management.
As the business sets organization goals and revenue requirements, there is an assumption that sales will just deliver it. This is often a disconnect between what the CEO feels they must have and what the vice president can deliver.
However, senior sales vice presidents can manage what happens between the two points. If the proper process and tools are in place to manage sales and the people who must deliver, it is possible to connect the sales function to the rest of the organization in strategic terms and create a common format through which the sales process is formulated, executed and monitored.
Organizations must have a mechanism that can create a cohesive sales team. This should be managed by the same set of messages and reinforced through coaching. Senior sales leaders must be able to identify, communicate and respond to the needs of the organization.
This is not possible without an ongoing process that defines, measures and analyzes salespeople.
In order to gain trust with CEOs, senior sales leaders can no longer deliver smoke-and-mirror communications from the sales department. CEOs make the connection between fluff and what matters. You must have a system in place for understanding, refining and measuring your sales process and tracking your salespeople.
Done properly, senior sales leaders can deliver the truth that CEOs can and want to handle.
If things are going well, the vice president should be able to explain why and what is driving the success and how it will be sustained. If it is a rebuilding model, the same applies. The vice president must be able to show where the good news is, what is happening and why and the plan to correct the situation.
One aspect of being a senior sales leader or vice president just does not seem to change.
Each month or quarter when senior sales leaders meet with the CEO or get invited into the boardroom, substantiating why the number was missed or why the number was made is always a difficult challenge. The challenge becomes even more difficult when the conversation shifts from process and deals to salespeople and sales management teams.
CEOs and boardrooms have little choice but to trust what is often the vice president’s opinion or what is a consolidated opinion based on conversations with sales management. While having subjective input is necessary, facts speak much louder in sales.
Senior sales leaders must track both the facts (objective) and the gut/emotion (subjective) and have a succinct operating plan with backup data to support the direction they are providing.
CEOs and boardrooms are under immense pressure to deliver to shareholders and investors. It’s in the best interest of the senior sales leader to deliver the truth. The key, however, is that senior sales leaders really have to know what the truth is related to sales performance and their salespeople and be able to stand behind it.
In a recent article published by MarketingProfs.com headlined “Lies, Damn Lies and Dashboards,” it was sighted how CRM and business intelligence dashboards are often manipulated by managers and marketing to present a positive outcome that doesn’t necessarily promote the truth.
This can happen understandably as the person delivering the message wants to find the positive in the situation and the data is typically delivered to the manager level in Excel spreadsheets. These are easily manipulated.
The key is putting in the process and technology to lock down the truth about how a representative or team is doing against expectations and locking down the process and technology that tracks, measures and reports on both the leading and trailing indicators to achieving set goals.
Providing this information in an easy-to-use fashion is extremely important. If it adds work to a manager, they will not use it.
The process and technology have to eliminate tasks, reduce downtime and provide actionable insight into what is happening. It also must allow a manager to input how a salesperson is progressing against coaching and training. The data must roll up to senior sales management untouched by mid-level management.
As the business sets organization goals and revenue requirements, there is an assumption that sales will just deliver it. This is often a disconnect between what the CEO feels they must have and what the vice president can deliver.
However, senior sales vice presidents can manage what happens between the two points. If the proper process and tools are in place to manage sales and the people who must deliver, it is possible to connect the sales function to the rest of the organization in strategic terms and create a common format through which the sales process is formulated, executed and monitored.
Organizations must have a mechanism that can create a cohesive sales team. This should be managed by the same set of messages and reinforced through coaching. Senior sales leaders must be able to identify, communicate and respond to the needs of the organization.
This is not possible without an ongoing process that defines, measures and analyzes salespeople.
In order to gain trust with CEOs, senior sales leaders can no longer deliver smoke-and-mirror communications from the sales department. CEOs make the connection between fluff and what matters. You must have a system in place for understanding, refining and measuring your sales process and tracking your salespeople.
Done properly, senior sales leaders can deliver the truth that CEOs can and want to handle.
If things are going well, the vice president should be able to explain why and what is driving the success and how it will be sustained. If it is a rebuilding model, the same applies. The vice president must be able to show where the good news is, what is happening and why and the plan to correct the situation.
Friday, October 16, 2009
Coaching Results Speak Louder Than Words
Coaching Results Speak Louder Than Words
By ForceLogix CEO Patrick Stakenas
Behavioral research suggests that the most effective salespeople are those who understand their actions and understand their strengths and weaknesses.
Companies that understand this are typically the companies that have winning sales organizations. It is these same companies that understand the value of measurement of leading indicators and coaching to greater success.
Increasing awareness of the significant impact of sales performance management as a set of processes and information technology is leading organizations to focus on methods to coach sales talent to generate optimal performance. Winning sales organizations are providing a methodical approach to defining, analyzing and managing sales performance indicators.
The coaching of sales individuals and leveraging the experiences of existing talent to improve the performance of the entire sales organization has become a requirement.
As a result, management can examine the required skills that need to be sharpened to deliver the results rather than just focusing on the state of the pipeline or the end of the month’s results.
Using technology to manage the coaching process saves companies weeks and months of time as each coaching session and the score associated with the session can roll up to monthly, quarterly and annual reviews. When done, the chance of sales improving is dramatically increased.
Overall, any company can benefit from having a consistent process for understanding qualitative and quantitative metrics. Once understood and technology is put in place, coaching becomes a daily occurrence rather than an annual event. Improvement on leading indicators can now be tracked and coached on and a resulting increase in revenue is naturally evident.
Patrick Stakenas is president and CEO ForceLogix, which is a Chicago-based company that builds on-demand sales performance management solutions.
By ForceLogix CEO Patrick Stakenas
Behavioral research suggests that the most effective salespeople are those who understand their actions and understand their strengths and weaknesses.
Companies that understand this are typically the companies that have winning sales organizations. It is these same companies that understand the value of measurement of leading indicators and coaching to greater success.
Increasing awareness of the significant impact of sales performance management as a set of processes and information technology is leading organizations to focus on methods to coach sales talent to generate optimal performance. Winning sales organizations are providing a methodical approach to defining, analyzing and managing sales performance indicators.
The coaching of sales individuals and leveraging the experiences of existing talent to improve the performance of the entire sales organization has become a requirement.
As a result, management can examine the required skills that need to be sharpened to deliver the results rather than just focusing on the state of the pipeline or the end of the month’s results.
Using technology to manage the coaching process saves companies weeks and months of time as each coaching session and the score associated with the session can roll up to monthly, quarterly and annual reviews. When done, the chance of sales improving is dramatically increased.
Overall, any company can benefit from having a consistent process for understanding qualitative and quantitative metrics. Once understood and technology is put in place, coaching becomes a daily occurrence rather than an annual event. Improvement on leading indicators can now be tracked and coached on and a resulting increase in revenue is naturally evident.
Patrick Stakenas is president and CEO ForceLogix, which is a Chicago-based company that builds on-demand sales performance management solutions.
Thursday, October 15, 2009
A Book You Have To Read Dirty Little Secrets
A book you have to read… Sharon Drew Morgen, Dirty Little Secrets.
While many companies adapt specific sales processes, they are often using criteria that are too complex, too simplistic, or promote the wrong behavior to selling.
Pick up this book… Dirty Little Secrets.. it is a clear and concise outline of how to approach getting deals done through understanding the mindset of the buyer or the systems they work in. www.dirtylittlesecretsbook.com
An excerpt from the preface, of which I am in 100% agreement!!!!
“In Dirty Little Secrets, her groundbreaking work, she takes us
inside our buyer’s decision-making process to a level we’ve never
been before. We discover all sorts of factors that have to be
addressed prior to making any changes. And most of these issues
have absolutely nothing to do with our product or service offering.
When our prospects disappear into a black hole, that’s what
they’re dealing with. And, as Sharon Drew points out over and over,
our sales cycle is as long as takes our prospects to figure these things
out. Often these challenges are so daunting, that they decide it’s easier to stay with the status quo—even if it’s not a smart decision.
Up until now, we haven’t had strategies that taught us how to
deal with these “systems” issues that our customers face. We know
how to get them interested in our offering. We know how to uncover
their needs. We know how to showcase our solutions. But we don’t know how to help them get “unstuck.”
Patrick Stakenas President and CEO, ForceLogix, www.forcelogix.com
While many companies adapt specific sales processes, they are often using criteria that are too complex, too simplistic, or promote the wrong behavior to selling.
Pick up this book… Dirty Little Secrets.. it is a clear and concise outline of how to approach getting deals done through understanding the mindset of the buyer or the systems they work in. www.dirtylittlesecretsbook.com
An excerpt from the preface, of which I am in 100% agreement!!!!
“In Dirty Little Secrets, her groundbreaking work, she takes us
inside our buyer’s decision-making process to a level we’ve never
been before. We discover all sorts of factors that have to be
addressed prior to making any changes. And most of these issues
have absolutely nothing to do with our product or service offering.
When our prospects disappear into a black hole, that’s what
they’re dealing with. And, as Sharon Drew points out over and over,
our sales cycle is as long as takes our prospects to figure these things
out. Often these challenges are so daunting, that they decide it’s easier to stay with the status quo—even if it’s not a smart decision.
Up until now, we haven’t had strategies that taught us how to
deal with these “systems” issues that our customers face. We know
how to get them interested in our offering. We know how to uncover
their needs. We know how to showcase our solutions. But we don’t know how to help them get “unstuck.”
Patrick Stakenas President and CEO, ForceLogix, www.forcelogix.com
Wednesday, August 12, 2009
Your Sales Management World Has Changed, Get On Board Now or Risk Getting Thrown Off.
Patrick Stakenas, President and CEO ForceLogix. www.forceLogix.com
The world of Sales management as we know it has changed. The current economic situation has sales people and sales management doing extraordinary things in these challenging times that are often unnatural. It is time to take control of your selling environment before someone else is asked to.
Companies are looking at their strengths and taking profitability over growth which often means the need less sales people to get the same or better result. They are re-evaluating their priorities and forcing sales management to be accountable and handle more with less; they are putting in structure that when embraced have the highest likelihood to prosper in this difficult economic climate.
Over time, sales people and sales management will become accustomed to this and eventually learn to appreciate and value a more structure selling environment.
What can your company do to ensure it will still be relevant?
Embrace Structure in the Sales Function
This will show your employees that you are in tune with the changing times and are willing to put structure around sales that you already have in your factories, warehouses and other functions of you business. It is essential to get your message out to the company in a clear, concise manner that you get it. .
• Put in a Sales Accountability System
• Hold Sales Management to clear expectations on not only the numbers but on building a quality team.
• Force the issue through using a systematic approach to tracking both lagging and leading indicators.
Reduce Wasted Effort
With the proper system in place your sales managers will not be hunting for data or spending needless hours analyzing team performance. Analysts statistics show that having an Accountability System in place reduces Sales Management administration downtime by over 30%. Sales Management should also focus on where they can add value on those that are coachable. If you have build a strong team, your Sales Managers should not have to be on every big call with the A players.
Consider the Alternative
We in Sales all have a responsibility to shape our future, drive revenue and profit and Sales Management specifically has the extra task of managing morale and coaching while holding sales people accountable.
Status quo never works, the hammer never works for long and the alternative to putting in structure is to do nothing. This will most likely be a bad choice as without a structured process you will not be able to explain who is strong and who is weak and what you are doing about it to better the team.
The trends of the selling marketplace have shifted towards a more structured, accountable, coaching, more responsible-to-the-company environment. If your company genuinely lives and breathes these values it will be in a position to thrive today and in the future.
The world of Sales management as we know it has changed. The current economic situation has sales people and sales management doing extraordinary things in these challenging times that are often unnatural. It is time to take control of your selling environment before someone else is asked to.
Companies are looking at their strengths and taking profitability over growth which often means the need less sales people to get the same or better result. They are re-evaluating their priorities and forcing sales management to be accountable and handle more with less; they are putting in structure that when embraced have the highest likelihood to prosper in this difficult economic climate.
Over time, sales people and sales management will become accustomed to this and eventually learn to appreciate and value a more structure selling environment.
What can your company do to ensure it will still be relevant?
Embrace Structure in the Sales Function
This will show your employees that you are in tune with the changing times and are willing to put structure around sales that you already have in your factories, warehouses and other functions of you business. It is essential to get your message out to the company in a clear, concise manner that you get it. .
• Put in a Sales Accountability System
• Hold Sales Management to clear expectations on not only the numbers but on building a quality team.
• Force the issue through using a systematic approach to tracking both lagging and leading indicators.
Reduce Wasted Effort
With the proper system in place your sales managers will not be hunting for data or spending needless hours analyzing team performance. Analysts statistics show that having an Accountability System in place reduces Sales Management administration downtime by over 30%. Sales Management should also focus on where they can add value on those that are coachable. If you have build a strong team, your Sales Managers should not have to be on every big call with the A players.
Consider the Alternative
We in Sales all have a responsibility to shape our future, drive revenue and profit and Sales Management specifically has the extra task of managing morale and coaching while holding sales people accountable.
Status quo never works, the hammer never works for long and the alternative to putting in structure is to do nothing. This will most likely be a bad choice as without a structured process you will not be able to explain who is strong and who is weak and what you are doing about it to better the team.
The trends of the selling marketplace have shifted towards a more structured, accountable, coaching, more responsible-to-the-company environment. If your company genuinely lives and breathes these values it will be in a position to thrive today and in the future.
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