ceoflow march 13 sketches
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TRANSCRIPT
PebbleStorm: CEOFlow
Aaron Ross
Past
• CEO of LeaseExchange: $0
• Director at Salesforce.com: $100 Million
• ‘Entrepreneur-in-Residence’ at Alloy Ventures ($1B tech/life sciences fund in Palo Alto)
• Consulted for dozens of CEOs/exec teams
Aaron Ross
Main focus:
• PebbleStorm: “Make money through enjoyment”
• CEOFlow
And…• ColdCalling2.com: “Create predictable revenue”
• DataSalad: “Fresh B2B marketing data”
• Nitro.la: “Get more companies funded in LA” (nonprofit)
• On 8 or 9 advisory boards in Silicon Valley, investor in a half dozen companies
CEOFlow: Help CEOs Cross The Hot Coals
Business Is Shifting To Attraction
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1. Insight – Blogs, CEO interviews (coming), book (future)
2. Expert advisory help– Monthly “Sales Board Meetings”
– Consulting on creating predictable revenue, sales productivity, Cold Calling 2.0
– CEOFlow.com/advisory
3. A CEO peer community– Referral-only groups in SF and LA that meet monthly
Three Ways CEOFlow Helps CEOs
1. Revenue
Lead generation
Sales
Customer Success
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Example: Salesforce.com
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Distinguishing types of leads
Example Spear: ColdCalling 2.0
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Incremen
tal
Cultivating SeedsHow can you spark and encourage word of mouth?
• Thought leadership
• It’s your responsibility to help customers succeed– “Frictionless/Instant Karma”
• Authentic self-expression through blogs, video, events, word of mouth…– Ex: Rubicon Project, Zappos ($1B revenue)
• Community– Events that mix clients and prospects (online or offline), like
webinars, online communities, cocktail parties, dinners
– Local user groups
– Annual conference / host an event at someone else’ conference
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What Is Your Unique Genius?
How are you uniquely different,
in what, how, or why you do what you do,
in ways with which customers connect?
Prospects Don’t Care About…
• ..what you do– “I do sales advisory & consulting”
• They care what you do for them– “I help companies create predictable revenue”
How can you describe yourself in a way that’s meaningful to what they care about?
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Layers of the Onion
“Squirrel Feeding”
Magnets
• Magnet: something that sustainably / persistently attracts new prospects or talent
• Such as: – Happy customers– Any content online (blogs, videos…)– Partners, Employees, Advisors– Events (online or offline)– Books, published material– PR (if it’s regular)
/Magnets/Seeds
Immediate leadgen
• “Attraction” can take a long time to build • In the short term:
– What else can you offer to current customers?• Have you reached out to them lately?
– Community mixers (online or offline), combining prospects and customers
Separate the core functions
“Outbound”
Customer Success & Renewal
SalesFrontline
SalesOrganic &
Marketing Leads
“Inbound”Qualified Opportunities
New Customers
Ideal Customer Profiles
Ideal Customer Profile
Having Trouble Closing?
• Does your positioning or value proposition have to change?
• How can you sell higher & create more “pull” from above?
• Packaging: add a new layer to the onion to make it easier to get started / pay for it– Different product, more payment structures, free trial, etc
• 3rd party validation or perspective
• Starting asking “What would it take to get this done?”
• Change target customers (F10,000 vs F500)
The 3:15 Sales Process
• 15 minute introduction• 1 hour spent with the point person• 2 hour working session with the decision
team= 3h 15m invested per pre-sales cycle
Goal: determine 1) if there is a fit or not, and 2) the timing
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Do Enough Customers Renew?
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How most companies sell
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“Sell To Renewal”
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Danger Zone
2. Space
Predictability
Self-managing systems
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Customer lifecycle waterfall
___ Website Visitors
___ Leads(Registrations)
___ Qualified Leads
___ QualifiedOpportunities
$___ Pipeline
$___ Bookings
__% Conversion
__% Accepted
__% Converted
$___ Avg /Oppty
___% Close
SALESDEVELOPMENT
SALES
MARKETING
Sales Cycle Length ____
__ Lead Qualification Reps per __ Leads per Month
__ Account Execs per $__ Pipeline per Month
Cost per Lead$___
Monthly Metrics
Self-Managing Systems: Semco
• A $300m self-managing, distributed organization
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Stress source: Multiplying problems
3. Enjoyment
Motivation
Inspiration
Creativity
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Trust => extraordinary growth
Example: Zappos!
• Ranked #23 on Fortune’s Best Companies to Work For
• Zappos’ revenue was more than $1 Billion in 2008
• “Zappos avoids serious titles & uses parties, parades and decorations to open up trust and communication between depts…and to bring customers in on the fun.”
• And Google, Facebook, Salesforce.com…
The CEO Starts The Ripple
Sweetspot
The CEO’s alignment matters
NO SURPRISES!
• No one likes surprises:– CEOs– Boards– Executives– Employees– CUSTOMERS or PROSPECTS
• But they do like gifts!
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Stress source
Enjoyment map
Conscious “Push” v “Pull” choices
Extra slides
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PebbleStorm: “Make money through enjoyment”
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PebbleStorm “Sun” Visualization
Notes from CEOFlow call 10.21
• This is THE key to creating predictable revenue: – It doesn’t matter how long a sale takes, or how many steps– The only thing that matters is your understanding of the causes,
effects and measurements along your waterfall (leadgen, sales cycle, client success & renewing)
• This requires “space”, because you need clarity and time to figure it out– Space = mental (destress / connect with nature, people, fun),
and time (reduce expenses, increase runway, reduce pressure)• Revisit all pre-downturn assumptions
– Current customers & their success expectations– Old waterfall or baseline metrics
• “Sell to success” / Sell-to-renewal– What do you have to, beyond closing a customer, to make them
successful, help them see that they are successful, and then equip them to get approval from a boss?
Notes from CEOFlow call 10.21
• Don’t assume word-of-mouth spreads on its own, how can you help your happy customers spread word of mouth? (No badgering)– Example: online & offline gatherings that mix customers &
prospects
• 3:15m sales process: design a sales process that only requires a fixed amount of time invested per prospect.
1. “What are your goals?”
DISCOVERY
2. “Should we work together?”
BUSINESS CASE
3. “How we will work together”
SUCCESS PLAN
4. “Handshake”
AGREEMENT
6. “Ongoing success”
5. “Get started”
“Sell to Success”1. Transparent2. Collaborative w/customer3. Increases effectiveness for both parties
What does it take to acquire a customer, make them successful, help them understand they were successful, and then renew them?
(Close)
Where the pain comes from