Professional Services
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This is roughly a 6 minute read. Last time, I told you about the New York based 73mm ARR company who called me. They called because their sales organization was a mystery to top leadership. Despite being well-funded and lined with industry pros, they weren’t hitting numbers. They were making sales, but not enough.…
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Sometimes, it’s just about “fit.” It’s not how sharp you are, or how well you can sell. It’s not about your prospecting chops, or how you present. It can just be that you miss the mark…with the market. Or as Johnny Cochrane famously said… (thank you, giphy) What does this mean? That maybe you have…
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Some businesses run on referrals. It’s usually because: A. Actually a lower cost of sale to have people refer business to you than search for those deals one by one; B. The service is purchased based on trust (consulting, law, etc…); C. Someone’s afraid to prospect. Let’s skip category C for now, and focus on…
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A client (professional services firm) aims to grow by 40% next year. And it’s doable. The plan is actually simple. A certain level of retention on existing clients/customers, with some predicted growth there, and that takes care of 70% of the growth. The rest will come from new clients/logos. But there’s a problem. And it’s…
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In the middle of a 0-10 football season in high school, one of our coaches said, “Everyone says you suck. Just don’t suck.” To which one of our players responded, “Thanks for the inspiration, Lombardi.” After the laughs wore off, there was some truth to what our coach said: sometimes, having success doesn’t mean being…
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(This isn’t a chest-beating fantasy about how much you can charge if only you’re tough enough and gutsy enough. That’s not reality. Some industries won’t stand for it. Some prospects have too many options they prefer. I do believe, often, you can charge MORE than others and win. But rarely can you charge 65% more…
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When I started business school, I remember the teachers lining up and saying, one by one, “I teach you how to make it,” “I teach you how to count it,” and finally, “I teach you how to sell it.” Every business has these functions, whether the person running the business or the firm wants to…
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To Help You Win… One of the questions I get most often is, “Why aren’t I closing these opportunities?” To be honest, it’s ACTUALLY phrased like this: Lawyer: “These leads just don’t have any money.” Consultant/Service Provider: “I don’t know what’s going on. Business is slow.” CEO: “Deals keep pushing, so I’m guessing next quarter…
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The Problem of Objections It was the same conversation I have all the time: “I need my people to be able to handle objections,” the managing partner said. “Why’s that?” I asked. “They just can’t handle them. They don’t know what to say. Can you…
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I had a problem. Customers wanted training. They’d pay for training. I knew they needed something else. It would take longer, require more work and money, but deliver a 5x greater likelihood of a positive outcome. Training would be part of it, but not till after we’d looked at their market, hiring, management, compensation…
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