The Sales Hacker Podcast
The Sales Hacker Podcast

Episode · 2 years ago

Friday Fundamentals: EP 30: Tips For Managing a Board


How do you deal with a board? Board members want to help your company. It's time we stop thinking of a board meeting as just an event. Instead, think of a board meeting an opportunity to grow and network as a company.

Everybody, it's Sam Jacobs. Welcome back to the salesacker podcast and to Friday fundamentals. Happy Friday. Today on Friday fundamentals we're going to be talking to this week's guest, been right, the chief revenue officer of eat club, and he's going to be talking to us about strategies and tips for dealing with a board. Some of US deal with the board all the time, some of US aspire to deal with a board one day, if and when we make it to that position. But it's good preparation, training and insight to talk to somebody that's dealing with a board every day to learn what are the best strategies and tips and tactic. So that's going to happen in a few minutes. Now, before we get there, we want to thank our sponsors. Friday fundamentals is brought to you by outreach. Outreach triples the productivity of sales teams and empowers them to drive predictable and measurable revenue growth by prioritizing the right activities and scaling customer engagement with intelligent automation. Outreach makes customer facing teams more effective and improves visibility into what really drives results. Now, without further...

...ado, Ben what are your top strategies for dealing with a board as a chief revenue officer? Hey, Sam, thanks to having me back. So I think for me, I was thinking about this. One of the mistakes, I certainly think early on in my time of dealing with a few different boards now and also actually being on a board myself. I think one of the mistakes is that we, you know, as folks in the business, we tend to think of the board as synonymous with board meetings, right, and I think that's actually a bit of a miss. I think we shouldn't let ourselves think of the board purely as an event. Right, it's the board meeting, it's a big event, and I think of that really in a couple of different ways. Firstly, the board members themselves. Really, my experience has been that our board member, and I you know, eat club, of get to work with some great ones. How a heart bound at August capital, Patricia Nakashia, Trinity Ventures, for example. Really,...

...they want to help the company and they're humans and they have the same motivations and reward systems that the rest of us do. Yes, certainly, if you think about their role and responsibility on the board. Yes, it's financial, but also as it as humans, not just financial. Right, they want to be helpful. They have a lot of the thing rewards, systems values that that the rest of us do. They really really want to be helpful. That's been my experience. So go out of your way to engage them. Ask if you can connect on Linkedin if you haven't already done so. Ask if they'd be willing to refer you to people in advance, right and so that way you have permission from them to reach out and engage with them when you see that their connections line up with people that you might want to engage with from a business development, from the sales perspective. My experience has been they're very willing to to help and add generally found that to be the case of board members. The other thing I would say is use the...

...disciplines and the practices that you go through when you are leading up to a board meeting. Use that as what I would describe as an always on proactive lens for your own business. Right be your own board. Proactively. Ask yourself the questions that you suspect they might ask you when you show them a piece of data right, not just in the run up to the board meeting, but like always, on look at a piece of data, what questions would you ask yourself if that was somebody showing you that information? What are the second what are the third sort of trance or order of questions that you might ask? And I think that is a really helpful thing because it really forces you to question the why behind the data that you're showing. Do I know why that line goes up or why that line goes down, even if you have good performance from the business, Hey, we made our number. I think if you don't know and understand why you made the number, what...

...operational changes you made that resulted in you doing better or something that you did that resulted in you doing worst that you wish you hadn't done. If you don't have that, you're not giving them the full story and ultimately they're looking to know whether or not this particular business that they've invested in has a repeatable, believable thing happening to it. And if you don't know and understand what's moving, what's happening, what's changing with the business, you can't articulate the why, then they're not going to have that confidence in you and ultimately in the business, that it truly is as investable and believable and repeatable and scalable as they'd like it to be. And and again, the process of just looking at the data that you're about to show and really questioning why and asking yourself those questions I've just found as a really good discipline. So don't just let the bold meeting be an event. Use that concept and that line of questioning, that line of sort of self interrogation, as an always on active blends through which you look at your own business every day. I love it.

Ben That's great advice and I think advice that few two people keyed, so maybe after hearing this they'll be more cognizant of it. But I think the first point is really really important, which is it's not just one, it's not four meetings a year that the board exists. The board exists always and they can be a force for good or not a force at all if you don't leverage them. So leverage your board and build relationships with them so that you can drive the outcomes that you want. Don't just solve backwards from the board meeting. If I have that correctly. That's exactly right. Sam Love it so been. Remind people if they want to get in touch with you, what's the best way to get in touch with you? Yeah, ben don't right at eat clubcom love to hit me. Awesome, and Ben's also on Linkedin. I'm on Linkedin. If you have any feedback for me or you want to recommend guess for the show or you have questions, you can reach man linkedin. It's linkedincom forward the word in and then forward Sam f Jacobs. Thanks again to our sponsor outreach, and I will see you next time.

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