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Develop a Culture for Mission Driven Sales for CDFIs
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Develop a Culture for Mission Driven Sales for CDFIs


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Our task as CDFIs is to deploy our loan capital as effectively and quickly as possible to meet the needs of the community. "Sales" is not a bad word in nonprofits, because you are working to make …

Our task as CDFIs is to deploy our loan capital as effectively and quickly as possible to meet the needs of the community. "Sales" is not a bad word in nonprofits, because you are working to make capital access equal for all. Learn how you can implement this within your own organization.

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  • 1. Creating a Sales Culture for Your Mission-Driven CDFI August 22, 2013 Jason Friedman * Leslie Hoffman Catherine Meyrat * Barbara Eckblad
  • 2. Using Goto Webinar • All participants will be on mute. • You will see a panel on the right hand side. Under the Audio tab (c) you will see the dial in number and access code you were e-mailed previously. To join the call, then enter in the Audio PIN number. • Q&A: we’ll save 30 minutes for Q&A; type your questions in the Questions Tab (e). • You may also use the “Raise Hand” button to alert the presenters that you have a question or comment. 2
  • 3. The Friedman Associates Team Approach We grow organizations thoughtfully and sustainably. We help you maximize your impact now for long-term results. 3
  • 4. Friedman Associates • Mission: inspire nonprofit leaders to achieve their vision for the entrepreneurs and communities they serve - and demonstrate the results that lead to increased funding and long-term success. • Build Strong and Sustainable CDFIs:  Assess and Strengthen Loan Fund Operations  Improve Effectiveness and Impact of Development Services  Prepare CDFIs for CARS™ Assessment  Develop KPIs and systems to demonstrate impact  Strategic Planning  Board Development  Market Research  Preparation of CDFI applications 4
  • 5. Today’s Panel Jason Friedman Moderator Leslie Hoffman Co-moderator & Panelist Barbara Eckblad Panelist Catherine Meyrat Panelist 5
  • 6. Today’s Agenda Foundational Concepts of Mission-Driven Sales  What is mission-driven sales?  Why is it important?  Developing a mission-driven culture  Measuring and monitoring progress  Q&A  Next Steps 6
  • 7. What Is Mission-Driven Sales? Impact Value Action 7
  • 8. Why Mission-Driven Sales? 8
  • 9. Be Better, Do Better 9
  • 10. Who’s Using a Mission-Driven Sales Approach?  Accion Texas, San Antonio TX  Accion New Mexico – Arizona – Colorado, Albuquerque NM  Opportunity Fund, San Jose CA 10
  • 11. A Snapshot of the CDFI Landscape Demand • Grew in the fourth quarter of 2012 Originations • Remain strong Outlook • Strong demand is expected to continue Source: OFN Q4 2012 Market Conditions Report 11
  • 12. Market Research = Product Roadmap 12
  • 13. What Does This All Mean? Demand Focus Impact 13
  • 14. Your Cultural View of Sales 20% Positive 21% Negative 59% Neutral 14
  • 15. Have You Discussed Sales Culture? Total: 43% No Neutral Opinion: 47% No Negative Opinion: 52% No 15
  • 16. Who Is Behind or Far From Goal? 39% of full group 43% of those with a neutral sales view 37% of those with a positive sales view 31% of those with a negative sales view 16
  • 17. Mission-Driven = Values-Based 17
  • 18. Explore Your Values PASSION Leads with energy, humility, joy and fun. Tenaciously overcomes obstacles. PIONEERING SPIRIT Actively recognizes and rewards innovation. Embraces change with agility and humor. INTEGRITY Exemplifies ACCION values. Builds trust by continually exhibiting honesty and respect. EXCELLENCE Consistently seeks opportunity for improvement. Enthusiastically strives to exceed expectations. ACCOUNTABILITY Holds oneself and others accountable for behavior, actions and results. Seeks and embraces feedback. New Mexico-Arizona-Colorado Full list available at 18
  • 19. Elevating Values-Based Behavior Volume Values 19
  • 20. Developing a mission-driven sales culture 20
  • 21. Explore Team Attitudes and Resources Board Senior Management Staff 21
  • 22. Board of Directors • Your Board of Directors need to be integrated into your work in building your mission-driven sales culture. • They should participate in the process of developing your core organizational values. 22
  • 23. Senior Management • Senior leadership may also have varied attitudes toward moving to mission-driven sales. • Success = taking time for dialogue, so senior leaders have consensus and unanimity about direction and the core values on which you will base your CDFI’s decisions. • With consensus and unanimity, senior managers will successfully convey, first the WHY of what you are working toward, and then, the HOW and the WHO. 23
  • 24. Staff • Achieving organization-wide integration includes helping each staff member understand that they are a member of the team and that they have a specific and important role to play on the team. • Educating staff on the WHY and the HOW and the WHO allows for staff to build their understanding and better allow them to embrace the success. 24
  • 25. What’s Your Bus Look Like? 25
  • 26. Job Skills • Job skills is a broad concept which goes beyond narrowly-construed work skills that an employee has to succeed at their job. • It includes personality traits and talents. • We know that the personality traits of your front-facing folks, the sales people, tend to be different from those of back-office operations folks, even though both may have strong job skills in accounting, for instance. 26
  • 27. Trust Is The Glue Shared Values Good Communication Trust 27
  • 28. Great communications strategies • Make sure that folks whose job responsibilities depend on each other have open channels of communication. • This creates opportunities for growth in knowing the truth of other's work, their ability to do that work and the strength of their skills as well as the strength of their co-commitment to the core values of the organization. • Expect and allow only direct conversation – direct communication. About challenging issues or problems that arise on any given day, and that need solutions. 28
  • 29. Motivate! 29
  • 30. Tips on Sales Team Motivation • Clear & visible • Team and individualGoals • Victories, big and small • Learning from mistakes as well as from success Celebration • Provide perspective and affirmation • Speak the truth Leadership 30
  • 31. Compensation Considerations  Integrating goals with compensation can be effective and should be carefully considered.  Variable compensation can help staff align their tactics with organizational goals.  Variable compensation can be a recruitment tool but is not a retention tool. 31
  • 32. How Do You Measure and Monitor Progress? 32
  • 33. Measure Actions and Outcomes What outcomes does your organization want? Do you measure them? Where are the gaps? 33
  • 34. The Power of Key Performance Indicators Clear monthly goal for loan originations Loan conversion rate? Best kinds of leads that generate closed loans? Number of leads are needed to generate one closed loan? 34
  • 35. Driving Client Outcomes Improve staff response time Improve portfolio performance at the loan officer level Improve client outreach 35
  • 36. Tips on Communicating Sales Goals  Communicate clearly why metrics are important and how they will help the organization  Include in job description  Have monthly discussions to share best practices 36
  • 37. Measurement and Monitoring Data Measure Impact Manage 37
  • 38. Sales Management Systems 38
  • 39. Next Steps Take stock of your values and impact. Assess team resources. Mobilize with clear goals, a coordinated team approach, and positive leadership. 39
  • 40. And Here’s How We Can Help  Assessment of current loan fund operations and performance.  Analysis of current staff functions and corporate performance goals.  Facilitate re-assessment of organizational values, position descriptions and intra-office communication and workflows.  Develop KPIs and design data collection systems.  On-site staff training and coaching. 40
  • 41. Let’s Take Your Questions 41
  • 42. Additional Resources • FIELD forum Issue 23: The Organizational Foundations of Sustainability (2009) on ACCION New Mexico-Arizona- Colorado • Dollars for Dreams: Scaling Microlending in the United States (2010) • • Good to Great: Why Some Companies Make the Leap and Others Don’t, J. Collins (2001) • Built on Values: Creating an Enviable Culture that Outperforms the Competition, A. Rhoades (2012) 42
  • 43. Additional Resources 1. Myers-Briggs Foundation: 2. StrengthFinder 2.0: (c) 2007 Gallup, Inc. 3. CISS (Campbell Interest and Skills Survey), (c) 1994 David Campbell, Ph.D. 4. BarOn Emotional Quotient Inventory: Rowen Bar-On, Ph.D. 5. Career Anchors; Discover Your Real Values, Edgar H. Schein, 6. Management Tasks, Responsibilities, Practices, Peter Drucker 43
  • 44. Thank you! Contact us: 319-341-3556