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The Agony & Ecstasy of Building and Scaling Inside Sales

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Isaac Garcia's Slides from MESHU 2010 Presentation on "Building and Scaling Inside Sales Teams"

Isaac Garcia's Slides from MESHU 2010 Presentation on "Building and Scaling Inside Sales Teams"

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  • Freemium = Opensource Products, Dropbox, Google Apps No Touch SS = Balsamiq, Basecamp, YouSendIt Light Touch = Constant Contact, Logmein, High Touch = Salesforce.com, Netsuite, Omniture Field Sales = Oracle, BEA, SAP
  • Freemium = Opensource Products, Dropbox, Google Apps No Touch SS = Balsamiq, Basecamp, YouSendIt Light Touch = Constant Contact, Logmein, High Touch = Salesforce.com, Netsuite, Omniture Field Sales = Oracle, BEA, SAP
  • Freemium = Opensource Products, Dropbox, Google Apps No Touch SS = Balsamiq, Basecamp, YouSendIt Light Touch = Constant Contact, Logmein, High Touch = Salesforce.com, Netsuite, Omniture Field Sales = Oracle, BEA, SAP

The Agony & Ecstasy of Building and Scaling Inside Sales The Agony & Ecstasy of Building and Scaling Inside Sales Presentation Transcript

  • The Agony & Ecstasy of Building & Scaling Inside Sales Isaac Garcia CEO / Co-Founder Central Desktop May 17, 2010 / MESHU
  • Purpose of This Session To Understand What It Takes to Build and Scale an Inside Sales Team and Whether or Not the Inside Sales Model is Right For Your Business
  • In This Session We Will….. • Answer “What is Inside Sales?” and “Who Needs it?” • Examine Different Types of Sales Models • Study the Profile of Successful Inside Sales • What does one look like? • Look at the People Behind Successful Inside Sales • Understand the Metrics That Matter • Provide a Framework for Getting Started
  • First of All, Who The Heck am I? • First “Tech Job” Was B2B Inside Sales • First Sales Rep / Inbound / Outbound / Demos / Learned from Founder • Software Consulting Firm • Rookie of the Year! • Founded Enterprise Data Services Company • Price Points Were $50k - $400k • Founded B2B Marketplace • Inside Telesales Team / Low Price Point High Volume
  • First of All, Who The Heck am I? • CNET Networks • Inside Sales ($200/mo - $3k/mo) • Enterprise Sales ($100k - $3 million) • Landed Google, Ebay, BestBuy, Microsoft • Central Desktop • Self-Service / Ecommerce Model ($25 - $249/mo) • Inside Sales Model ($4k/year - $25k/year) • Currently in “Scale Mode”
  • First of All, Who The Heck am I? • Never Sold Anything Before In My Life! • BA and Masters in English Literature! • Never Took a Business or Accounting Class in my Life! ANYONE CAN DO THIS!
  • What Is Inside Sales? Its Not a Boiler Room!
  • What Is Inside Sales? Inside Sales is a Progression
  • Wise Nugget #1 As Your Business (Product) Evolves, So Will Your Sales Model
  • Types of Sales Models
  • Types of Sales Models
  • It Depends On Your Market Consumers SMB Mid-Market Large Companies B2C B2B B2B B2B SOHO “Small Business” “Medium Business” Enterprise VSB Departments Departments Fortune 5000 1-5 Employees 100-1000 Employee 5-100 Employees 1000+ Employees E Commerce Phone / Inside Sales Face to Face
  • Don’t Forget The Cost!
  • Don’t Forget The Cost!
  • Tale of Two Companies Upgradebase Vendorbase 1. $100k+ 1. $25 - $149/month 2. 180+ Days Sales Cycle 2. <30 Days Sales Cycle 3. Face to Face 3. Phone 4. Expensive Reps 4. Ecommerce / Telesales 5. Few Customers 5. LOTS of Customers 6. Net Terms 6. Credit Card! 7. Integration 7. 100% Web Based 8. We Raised Capital 8. We Bootstrapped
  • Dot Com Crash • 2001 • Cash Crunch • Customer Crunch • Business Crunch • Upgradebase Hurt • Vendorbase Did Well
  • Wise Nugget #2 It is Possible to Bootstrap Inside Sales To Success!
  • Inside Sales: What Does It Look Like?
  • Inside Sales: Simplified Leads (Inbound/Outbound) “Potential” Opportunity “Accepted” Opportunity Pipeline Measure at Close! Each Stage! $
  • Inside Sales: What Does It Look Like?
  • Lead Gen: Inbound • Reps Qualify Inbound Leads • Trials, Whitepapers, Email, Chat, Phone, Tradeshows • First line of defense / Sift Sand • SCORE Leads To Be Efficient! • Create “Potential” Opportunities • Comp’ed on Qualified Opps & Closed Won • Collaborate with the Account Executive (Closer) • Ratio is 1 Rep to 3-4 Closers • SF.com Gives ~250 Leads Per Month / CD 1000 Leads
  • Wise Nugget #3 The Secret to Inbound Lead Qualifying is to Listen to Your Customer’s Needs – and Solve a Problem.
  • Lead Gen: Outbound • Sales 2.0 / Cold Calling / Prospecting • Proactive Outbounding • Find New Opps for Closers • Target Higher $$$ Prospects • Target Ratio is 1:3 • This is NOT Calling the Phone Book! • Segments with Higher Propensity to Buy
  • Wise Nugget #4 The Secret to Outbound Lead Development is to Respect & Care about the Prospect! You Have No Right! Date Them!
  • Closers: Account Executives • Focused on New Business • “Accept” Opportunities • Manage a Territory / Patch • Develop Territory Plans • Carry a Quota ~5x Total Comp • Might Manage 10-30 Key Accts • Incentivized to Close Deals Monthly / Collect Cash Up Front
  • Wise Nugget #5 The Secret to Closing a Sale is to Not Sell To them!
  • Nurturers: Acct Management • Focused on Adoption • Customer Success • Nurtures Accounts • Be Trusted Advisors • Find Referrals / Upsells • Manage Renewals • Collaborate with Sales Closely • Comp’ed on Retention / Renewal Rates • This Could Be Two Teams Upsell / Acct Management
  • Wise Nugget #6 You Don’t Do All of this at Once – You Iterate Your Way Into Inside Sales!
  • Who & How To Hire / And When?
  • Hiring Leadership
  • Hiring Leadership
  • Hiring Leadership
  • Hiring Leadership
  • Hiring Leadership
  • Your Sales Leader Needs To: • Sell • Manage • Coach • Lead • Schedule • Report • Present • Prospect • Hire • Close
  • Be Careful When Hiring Managers! • Sales People Are Good At Selling Themselves! • Are They Precise With Their #s? • Take EXTRA Time When Hiring • SF.com Managers Spend 50% of Their Time Hiring • Unanimous Hiring (With Multiple Interviewers) • Ask Them To Present! • Make Them Give You A Plan! • Check Their W2s! • Did They Try to Close You In The Interview?
  • Hiring Reps • Develop a Training System (Starts w/Founder) • Give Them the Equipment They Need • Good Phones • Headsets (w/long battery life!) • Good Chairs • Good Computers • Give Them the Tools They Need • Linkedin / Jigsaw / Hoovers / Insideview • Give Them Career Paths
  • What About The Profile of Reps? • Finished College • Competitive (Sports) • Driven / Leaders • Extra-Curricular Activity (Music, Sport, Hacking, etc.) • Can Relate to Others • Quick On Their Feet • Organized / Professional (Did they followup? Try to close you?) • Sense of Urgency • Likes / Wants to Win
  • Sales Culture Musts • Ethical • Fair • Professional • Competitive • Supportive • Driving • Fun • Money-Centric Sales Is Not For Everyone
  • What About The Metrics? • CAC (Customer Acquisition Cost) • Churn • Life Time Value (LTV) • MRR / CMRR • Renewal Rates • ACV (Average Contract Value) • Cash Collected Notice These Are Business Metrics?
  • So, Where Should You Start? • YOU (the Founder) are the BEST Sales Person! • Learn, Learn, Learn! • Listen, Listen, Listen! • Iterate, Iterate, Iterate! • Your Involvement Will Influence the Company Forever! • You Can’t Outsource Passion • If You Can’t Sell Your Own Product – You Have No Passion • No Passion – No Sales – No Success
  • Start Slowly • Founder’s Should Always Sell In the Early Days (Especially if Bootstrapped) • Learn How To Train Others • Hire a “Whale Hunter” once you’ve got something repeatable (multiple sales). Bring In Cash! • Separate the Job Functions / Don’t Expect Your Hires to all be like you! • Focus on Market Fit! This is who you Outbound too! • Measure / Iterate • Manage to Results (Not Behavior)
  • Most Importantly • YOU CAN DO THIS! • This isn’t just for “other people” • YOU CAN DO THIS! • Building a Product Isn’t Good Enough! • You Need To Go To Market With Your Product • Inside Sales Can Be One of the Most Effective Ways to Bring Your Product to Market
  • “Go and Do Likewise!”
  • Resources & Special Thanks: • The Central Desktop Sales Team • @isaacgarcia / igarcia@centraldesktop.com • www.Balsamiq.com for mockups • David Skok @ www.forentrepreneurs.com • Mark Suster @ www.bothsidesofthetable.com • Aaron Ross @ www.pebblestorm.com • Salesforce.com for Inspiration • Alec Baldwin Cameo in Glen Garry Glen Ross