170 likes | 236 Views
Overcoming the Challenges of New Business Development Funding, Outsourcing & Acquisition. Are you a Yes Man ?. Answer these questions.
E N D
Overcoming the Challenges of New Business DevelopmentFunding, Outsourcing & Acquisition
Answer these questions - Do you have multiple channels driving revenue?- Are you conducting the right activities?- Are you leveraging best practice cost strategies?- Do you have the right avenues to fund growth?- Does your business model allow growth without big costs?- Is your business structured to look like a good investment?- Does your business have an excellent exit strategy?
Our background 8-year history of success operating and managing Telecommunications Agency, Carrier and Consulting firm • Broad services (Cloud, Managed, Consulting, IT and more) • Strong financial performance examples • (55% margins, >2% churn, 100% sales growth) • Proven tactics and strategies • Quick Facts • HQ in Nashville, TN • Currently provide management services to 9 successful companies today and support over >8,000 businesses • Solutions for ALL businesses (cloud, voice/data, mpls, internet, …) • Success based on excellent operations, experience and leadership • Skilled at cloud based services and telecommunications
Our Core Focuses for Success • Corporate alignment around annual goals • Executives to hourly staff (communicate and manage alignment) • Revenue growth is imperative • Revenue Ownership Model • Customer experience and churn management • Brand awareness & value • Competitive loss management • Operational efficiencies and scalability • Reporting and administration accuracy • Sales and Marketing excellence • Activity management that equal to result expectations • Individual accountability • Manage impatiently
Example – Define your Experience- Position your business around a solid customer strategy. - Below is a tool used at AT&T, NTT, Earthlink and our business. It works. DEFINE DESIGN & SALE DEPLOY SUPPORT • Measurement • Reporting • Upsell • Development and Integration • Deployment Support • Business and Technical Requirements • Propose and Close • Strategy • Business Case Solutions and Consult SALES TECHNICAL ARCHITECTS Applications Design and Development SYSTEM INTEGRATORS CERTIFIED SOFTWARE / HARDWARE PARTNERS Deployment Support SYSTEM ENGINEERS PROJECT MANAGERS ACCOUNT MANAGEMENT
Some Key Strategies to Discuss • Account Management Program • In-house or outsourced – its critical • Alternate Channel Program • Fast growth but be careful with cash • Competitive Sales Products • Market adaptation is key • Onboarding and Training • Market research will show that this is where your sales organization succeeds or fails • Positioning for merger or acquisition • Big payday or not?
Account Management • Dedicated inside sales teams • Lead with support, get the sale • Focus on the up-sale of Cloud and Managed solutions. It’s a natural conversation. • Solid scripting will make a huge difference • Its about activity calls not reactive support. 20-30 calls a day not 10. • We learned to set an analysis meeting
Alternate Channel • Get your program defined • Comp, support, pricing, order process, pay • Got to make agents feel confident and comfortable with it • Make sure you do the right recruiting and mindshare activities. We learned: • 2 mixers a month • 1 newsletter a month • 1 to 2 training activities a month • 5 face to face a week (education and mindshare) • Help them sell, then let them sell • Always be educating • Keep an eye on the cash flow
Competitive Sales Products • Pay attention to your competition • What are they selling, pricing, winning • Competitive sales reviews • Do not under-estimate Cloud and Managed services • Wild, Wild, West! • We learned that ROI tools are imperative • Sales training is critical. We learned that repetition is a good thing. • Great collateral empowers your teams.
Onboarding and Training • We have learned to look for the following: • Winning attitude • Quick wit • Experience if possible • Put together an organized onboarding plan • Even have a test • Give the sales team a book to reference • Enforce reporting and tracking • The first 30 days are the difference between sales in 60 days or 4 months.
Positioning your business • Starts years before your ready to exit • Is it a Business or just your job • Organization and Detail are key • Is your business a Focus or Ferrari….(Beep Beep or Vroom Vroom) • Does it paint the picture for the next persons success
Don’t Overlook Cost Savings • Are you owed SLA credits? • If you are wholesaling are you due credits. We found thousands. • Can your base of accounts be migrated for better returns than sales? • Take a look at your infrastructure costs. Sometimes fixing that is worth more than new sales. We found almost a million. • Are there costs in the acquisition of a sale that can be reduced? • We found we could cut truck rolls in half and free up 30% critical time. • There are more. Pay attention to the opportunity.
What now? Consider the following paths. But don’t do NOTHING! • Path 1 – Implement one of the strategies with excellence and let us know how it goes • Path 2 – Find a qualified consultant to help you insert some of these strategies into your business. We can point you to some contacts. • Journey 3 – We can assist you with a couple solutions we have for carriers. Next page
R.A.G. Solutions • Acquisition – If you are interested in possibly selling your business now or within the next three years thenWE WANT TO SPEAK TO YOU. • Investment – Sometimes a little funding can go a long way. We are looking to invest in some great companies. Our small investments include: - management consulting - best practice support - revenue growth assistance - wholesale of critical products
We are available to help ? Scott Raymer (CEO) scottr@equinoxfive.com Ken Royer (COO) kenr@equinoxfive.com Chris Wolff (EVP Sales) chrisw@equinoxfive.com Rusty Hagenbuch (CFO) rustyh@equinoxfive.com Matt Claus (Associate Partner) Mclaus@raymeradvisory.com