Sales in the Subscription Economy #2

Here's what you need to know this week:

Saleshacker put together a stellar list of the best sales conferences of 2020. Which ones are right for you and your team?

Steli Efti, sales grand master & CEO of Close.com breaks down Kim Scott's book, Radical Candor, with a sales team twist.

Key Takeaways:

  • Radical Candor requires a culture where everyone on your team feels respected, heard, and empowered.
  • Caring personally (taking the time to build authentic, real, human relationships) + Challenging Directly (respectfully confronting colleagues face-to-face when someone's upset the apple cart) = a culture of trust, vulnerability, and positive change.
  • Radical Candor is a 2 way street, sales leaders. These same rules should apply when a subordinate approaches you with a conflict or problem.
  • Salespeople can apply these principles by truly caring about their prospects and demonstrating that they understand their situation, rather than using manipulative sales tactics for a quick sale. After all, it's not 1992, but some sales teams still promote a culture of manipulation and putting the squeeze on prospects – just stop. Seriously, stop it.
  • Read the full article, but here's the gist of implementing Radical Candor successfully: assume the best of others, be genuinely interested in them & then don't be an asshole.

Linkedin gathered hiring advice from top leaders in business today. Take what resonates with you and leave the rest.

Key Takeaways:

  • Spanx founder & CEO Sara Blakely: “You can learn the most about a person by the questions he or she asks or doesn't ask. [...]So I let the candidate ask. I make sure I'm quiet for more than half of the time during our interview, and I also make sure there are a few awkward moments of silence. You usually hear the best stuff in those moments.”
  • Jeff Bezos has Amazon hiring managers ask themselves: Will I admire this person? Will this person raise the average level of effectiveness of our team? Along what dimensions might this person be a superstar?
  • Microsoft's Satya Nadella looks for 2 key things in potential hires: Do they create clarity & energy? “The people who are capable of getting into a situation where there is in some sense panic,” Satya says, “and who can bring first clarity on what to do next — that is invaluable.”
  • Disney's Bob Iger, “When you come to work, you’ve got to show enthusiasm and spirit. I believe in taking big risks creatively. If you fail, don’t do it with mediocrity — do it with something that was truly original, truly a risk.”
  • Warren Buffet looks for integrity, energy, and intelligence first.
  • Sallie Krawcheck, former head of Merrill Lynch, focuses on hiring a great team, not individual stars.
  • Zappos’ Tony Hsieh considers how well a candidate treats everyone around them – like the shuttle driver that picks them up at the airport.

The following is a direct excerpt from Drift's co-founder & CEO David Cancel's newsletter, it's gold! *So, I wanted to share a list that someone (who wanted to remain anonymous) sent me the other day about how to be a decent human at work – and how to continue to build a culture we all want to be a part of:

  • Give credit where credit is due
  • Don’t be an asshole
  • Treat everyone as if they were your family/closest friend/partner.
  • Practice gratitude
  • Always remember you don’t know what someone else is going through
  • In times of chaos practice patience
  • Help someone out, don’t push them down
  • Hold a door
  • Smile
  • Concentrate on your job and less on what you believe someone else is or isn’t doing
  • Always remember, hard work pays off
  • Get to know someone before you pass judgment
  • Don’t talk shit
  • Remember open and honest communication is always the best route when dealing with any issue.

Anthony Iannarino tells us which avoidable mistakes sales people make that kill big deals:

Key Takeaways

  • Treating a complex B2B sales like a transaction, rather than a consultation.
  • Skimping on discovery – don't do it. Sales leaders need to create, practice, and refine a comprehensive discovery process. It's makes every little step toward the sale thereafter so much more clear.
  • Thinking you only need 1 contact at your prospect's firm. The average B2B sale requires buy-in from a committee of 7+ people.
  • Seeking efficiency over effectiveness. Take your time and leave no stone unturned. Surprises in the 11th hour of negotiations are a sales person's worst nightmare.
  • Failure to differentiate the value your solution provides over your competition.
  • Believe price is the main criteria – create value and sell based on solutions & problem solving. Make the buyer look like a rockstar to their boss (through tangible, measurable outcomes of your solution), and you're a shoe-in for the deal.
  • Underestimate your competition – your sales team needs to bring it, every. single. time. Lose the arrogance & ignorance and go help solve your prospects' problems!

P.S. If you’re like most Sales VPs, your team is struggling to make quota and maybe you haven’t quite found your footing with this whole subscription model thing. That’s okay, I’ve got your back. Request a 60 minute free strategy call now – I’ll guarantee you 2-3 actionable takeaways in a follow up email after the call.