7 Rules of Business Growth Does running your business get in the way of growing your business?

7 Rules of Business Growth Presenter: Mark Frasco Founder and President, COACT Associates, Ltd.

New thought…   Business growth has a lot more to do with process than it does technique.

Let’s start with the end in mind   Business growth has a lot more to do with process than it does technique. Poor Technique Good Poor Process Good

We’ve learned that…   Selling success is due to far more than technique -

We’ve learned that…   Selling success is due to far more than technique – it’s the design and implementation of a process

We’ve learned that…   Selling success is due to far more than technique – it’s the design and implementation of a process that proactively and rhythmically communicates

We’ve learned that…   Selling success is due to far more than technique – it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets

We’ve learned that…   Selling success is due to far more than technique – it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships

We’ve learned that…   Selling success is due to far more than technique – it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems

We’ve learned that…   Selling success is due to far more than technique – it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems and a prospect’s motivation to buy

We’ve learned that…   Selling success is due to far more than technique – it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems and a prospect’s motivation to buy

Business Growth Challenge Businesses lose between 15% - 25% of last year’s business, each year Lack strategic focus and/or dedicated resources and specific process to grow the business As a supplier, you are evaluated and selected by future customers rather than the other way around Timing - Christmas card marketing doesn't work

Gestation of Sale From the point of awareness to winning an order, what is the gestation of your sale? < 1 month 1 – 6 months 6 – 12 months > 12 months

Complexity of Sale In your typical sale, how many buying influences are involved? 1 2 – 5 5 – 10 > 10

Selling Structures

Sales Continuum 10

Sales Continuum 10 ? $

Sales Continuum 7 10 ? $

Sales Continuum 7 8 9 10 ? $

? $ Sales Continuum Supply Side 7 8 9 10 > People > Processes 7 8 9 10 ? $ > People > Processes > Performance System

? $ Sales Continuum Build Demand Supply Side 7 8 9 10 > People 7 8 9 10 ? $ > People > Processes > Performance System

? $ Sales Continuum Build Demand Supply Side 10 8 9 7 1 2 3 4 5 6 10 8 9 7 ? $ 1 2 3 4 5 6 > People > Processes > Performance System

? $ Sales Continuum Build Demand Supply Side 10 8 9 7 1 2 3 4 5 6 10 8 9 7 ? $ 1 2 3 4 5 6 Position Pre-Qualify Prospect Design Research > People > Processes > Performance System Strategy

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Many organizations struggle with strategic growth. Often, they develop business growth strategies, before they have clarity around their strategic architecture Strategic architecture is not strategy, rather it is a description of the business growth model Strategic architecture is a framework, from which business growth strategies are developed

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   What do you sell? How do you supply it? Who buys it? Why do they buy it from you?

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Brand awareness is useful, but no longer sufficient. Now, content must cause the prospect to engage: video, white papers, educational content Every marketing department is now like a newspaper editorial desk Always include a valuable call to action, some ‘opt in’ option Different platforms for different audiences – all built on the brand standard

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Item Needs Work () Good () Notes Logo   Tagline Business Cards Brochures Newsletters Post Cards Email Signatures Website Advertisements Trade Show Booth Signs Invoices Phone Greetings Letterhead Thank You Cards Logo Gifts _______________ Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

to connect with a prospect… 7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Brutal Facts In 2007, it took 3.68 touches to connect with a prospect… Today, it takes 8 touches The average rep makes 2 touches, then quits 132,000,000,000 B2B emails are sent per day Nearly half (47%) describe their “demand-side” efforts as “sketchy” or failing to have impact About 3% get clicked

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Trends in Buyer Behaviors The Rise of the Consensus-Based Sale Increased Risk Aversion Greater Demand for Customization The Rise of Third-Party Consultants

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Skills that matter: Teach for differentiation Tailor for resonance Take control of the sale Leverage constructive tension

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage  

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Buying systems have become more complex Learn the motivation of the buying system Understand power/support framework, and work it

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Buyer Types Technical User Economic Coach

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Buyer Motivation Even Keel Over Confident Trouble Growth

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Buying System Power and Support Are you the decision maker? Can you tell me about your buying process? What are the stages? Who is involved?

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Buying System Power and Support   Buyer Quality Chart High Buyer Power/Influence (y-scale) Listen for objections, frame thoughtful responses, test change, seek outside advocacy Align closely, fully engage, build advocacy; driver of buying process, capitalize on relationship Moderate Low Reduce/eliminate time invested - neutralize Engage to learn; navigate buying process and learn buying influences Buyer Interest/Support (x-scale) Weak Strong

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Core Competencies Resources and/or capabilities that serve as a source of differentiation of the firm from its rivals.

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Core Competencies Resources and/or capabilities that serve as a source of differentiation of the firm from its rivals.

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Core Competencies Resources and/or capabilities that serve as a source of differentiation of the firm from its rivals. Competitive Advantage Sustainable advantage that occurs from implementing value creating strategies and/or activities that are hard to imitate or too costly to duplicate. Can be a refined collection of core competencies that help the organization maintain a competitive edge.

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage   Many of life’s failures are people who did not realize how close they were to success when they gave up. - Thomas Edison Unyielding dedication!

7 Rules of Business Growth   Develop Focus… Strategic Architecture Manage Your Brand Make Waves in the Market Keep Score Stop Selling… Start Teaching Profile Buying Systems Build Competitive Advantage

7 Rules of Business Growth Thank you 7 Rules of Business Growth COACT Associates, Ltd 866.646.4400 2748 Centennial Road synergy@teamCOACT.com Toledo, OH 43617 teamCOACT.com