Predictable Revenue

Predictable Revenue by Aaron Ross, Marylou Tyler

Reading Time: 6 minutes

 

 

Predictable Revenue

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Predictable Revenue

Deepak Shukla’s Notes On Predictable Revenue by Aaron Ross, Marylou Tyler

Hey guys,

I finished reading this book on the 10th of January 2021.

Here’s a synopsis of the book I grabbed from Amazon:

“Discover the outbound sales process that, in just a few years, helped add $100 million in recurring revenue to Salesforce.com, almost doubling their enterprise growth… with zero cold calls.”

And here are my actual notes I took whilst I was listening to this on Audible:

  • Commit to making team self-managing
  • If the report doesn’t help you prioritize decisions or take actions something is wrong with it
  • Reporting – what is must have Vs luxury to have
  • Goal setting lead – someone to monitor leads
  • Part of veteran sales commission based upon newbies ability to bring leads / close deals – ie group compensation
  • Outgoing lead always train incoming lead
  • Team leads in these sub-teams (rotate this person every 3 months)
  • Once have more than 5 people in a team create sub-teams of 5 People to keep a small team feel
  • What can be eliminated, what can be automated, what can be outsourced
  • Remember you work for your people they don’t work for you
  • Grow your people
  • Choose people based on fast learning and hungry hires. Passion over experience
  • Leaders should be inspiring where possible – will get more from their people
  • Identify leaders in the company and give them leadership and general training
  • The best Development for the team is regular training (do it weekly)
  • Each team can develop a team behind them
  • Help your team enjoy their work – they will then produce great work
  • If you want 1 year of prosperity to grow grain, if you want 10 years of prosperity to grow trees, if you want 100 years of prosperity – grow people
  • Need a customer happiness officer specifically
  • Take baby steps – change takes longer than you think
  • Be patient with building a sales process
  • Need to measure sales and marketing activities daily
  • Need two sales reps in any organisation
  • CEOs make these common mistakes
  • Eg when a lead visits a site X amount of times automatic notification for a sales rep to follow up
  • Build a lead scoring system based upon actions users take on the site
  • If truly is bad time they will tell you OR say ‘I’ve got a minute what’s up’
  • The best opener is “Did I catch you at a bad time?” – putting them at ease and making them less defensive
  • If they ask for a proposal ask to setup scoping call to determine exact wants and needs and then can send a proposal
  • Proposals should be earned not given freely
  • Prospects often don’t know what their true problems are – when complaining just uncover the root issue
  • Map out the sales process
  • Dragging your feet and not disqualifying
  • Telling instead of showing – show!
  • Focusing on their success and not rushing the sale leads to more trust
  • Do you have insights into how you can help their business in general? – show them you care?
  • “How can we get this done?”
  • When asking bold questions – it’s about how you ask – with confidence and enthusiasm
  • What will it take to close in 30/60/90 days?
  • What’s your usual buying process for a product like this?
  • When doing outbound have prospecting happen at 1/2 levels higher than a target to get referred down
  • Ask reps for pipeline reviews
  • Selling too low
  • Selling selfishly rather than solving
  • The fantastic but unused sales process
  • No sales process
  • Pick a niche to get rich
  • Wrong prospect/ poor messaging
  • Be a non-threatening researcher, not pushy salesperson
  • Call above target level then get referred down
  • Do you have a calendar handy?
  • After you talk with someone whose helpful but not the right person – “I’m doing some research to determine if we’re a good fit – what would you do if you were me?’
  • “May I ask you how your X is structured?”
  • “Did I catch you at a bad time?”
  • Measure results that are proven to lead to revenue, not just activity alone
  • Track call conversations per day not dials per day
  • Be persistent until you get a no
  • The plan calls into fortune 1000 divisions and maps out calls into 3-5 different departments
  • Roleplays and Calls for the teammate
  • Call Executive Assistant to the President and ask for a referral to the right contact
  • Listen to a sales call. Listen to prospecting call
  • Send a mass email – meet with a mentor – meet with another team
  • Best sales guys should focus on only 5 key accounts and channel or referral partners
  • Proposals should be earned not given freely
  • Prospects often don’t know what their true problems are – when complaining just uncover root issue
  • Map out sales process
  • Dragging your feet and not disqualifying
  • Telling instead of showing – show!
  • Focusing on their success and not rushing the sale leads to more trust
  • Do you have insights into how you can help their business in general? – show them you care?
  • “How can we get this done?”
  • When asking bold questions – it’s about how you ask – with confidence and enthusiasm
  • Call 5 old not cold leads to practice discussing their business needs in a conversation
  • Sample intermediate daily goals
  • What will it take to close in 30/60/90 days?
  • What’s your usual buying process for a product like this?
  • When doing outbound have prospecting happen at 1/2 levels higher than the target to get referred down
  • Ask reps for pipeline reviews
  • Selling too low
  • Selling selfishly rather than solving
  • Fantastic but unused sales process
  • No sales process
  • Pick a niche to get rich
  • Wrong prospect/ poor messaging
  • 9 ways you lengthen your sales cycles (ie slow the sale down)
  • Current months activity/current month deals/long term results year to date
  • 3-5 goals for the day
  • Always have a next step
  • Only ever ask one question per email
  • Bite-sized emails – make it a blackberry email
  • Would it be a waste of time to discuss ‘X’, to see if we could help?
  • Call above target level then get referred down
  • Do you have a calendar handy
  • After you talk with someone whose helpful but not the right person – “I’m doing some research to determine if we’re a good fit – what would you do if you were me?’
  • Draft your day in the life
  • 3-5 goals for the day
  • Sample beginning daily goals
  • Weeks 4-5 – every day 3 goals
  1. Send 100 outbound emails before Friday
  2. Practice logging and responding to emails correctly
  3. Work up to 5 call conversations every day before the end of the week
  4. Have a veteran SDR sit with you everyday
  5. Draft a personal dashboard
  6. Discuss a new section of the training materials with the team
  • Week 3 – every day 3 goals
  • First 2-4 weeks on general company, service and product training
  • Simplified training for an SDR
  • SDRs are your customers – they shout from the rooftops about who you are
  • Commission paid 50% upon deals closed / 50% on new opportunities this month
  • Salary = is X plus commission is 1/3rd to 1/2 of total
  • Money structure for sales people – base salary + commission
  • Bins/Account statuses
  • Hi, Richard, this is Deepak Shukla from Pearl Lemon on 07877994351 and I’m calling to see if….once again my number is….
  • Speak slowly and clearly
  • Leave phone number at start and finish of voice mail
  • When leaving voicemail – leave it like you would for a friend – consider the tone
  • Goal one is to identify the right person and get an internal referral
  • Learn to love out of office replies – their job is to route you to the right person in the company
  • Avoid Monday and Friday for email sends
  • Send emails before 9 or after 6 not before
  • Try angel/job funnel with CEO of same company
  • Send 50 emails a day
  • Have dedicated outbound prospector or SDR
  • Low volume but ultra-high quality for quota carrying sales rep
  • Best sales guys should focus on only 5 key accounts and channel or referral partners
  • Use cold email to CEO asking for internal referrals
  • Outbound prospecting
  • Predictable lead generation needed
  • Above all – jealousy guard your enjoyment

 

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