The Sales Hacker Podcast
The Sales Hacker Podcast

Episode 176 · 2 months ago

Friday Fundamentals: Todd Caponi

ABOUT THIS EPISODE

One, two, one, everybody. Sam Jacob's happy Friday. Welcome to Friday fundamentals. Today we've got a special episode and we'll have a couple of these over the next couple of weeks and months, but today we're gonna listen to part two of our presentation that Todd Capony gave to the Chicago audience of pavilion a couple of months ago in anticipation of his new book, the transparent sales manager. Todd's an incredible lecturer and speaker. Some great ideas in here and I help you enjoy it. Let's listen to a word from our sponsors and then we'll hear part two of our presentation that Todd Capony gave to the Chicago audience back in Chicago back in May. Hope you enjoy it. This episode of the Sales Hacker podcast is brought to you by outreach. outreaches the first and only engagement and intelligence platform built by revenue innovators for revenue innovators. Outreach allows you to commit to accurate sales forecasting, replace manual process with real time guidance and unlock actionable customer intelligence that guides you and your team to win more often traditional tools don't work in a hybrid sales world. Find out why. outreaches the right solution at Click dot outreach dot I forward slash thirty MPC. That is click dot outreach dot io forward slash thirty MPC. This episode of the Sales Hacker podcast is sponsored by pavilion. Pavilion is the key to getting more out of your career. Our private membership connects you with a network of thousands of like minded peers and resources where you can tap into dozens of classes and training through Pavilion University. Make sure you take advantage of the pavilion for teams corporate membership and enroll your entire go to market team in one of our industry leading schools and courses, including marketing school, Sales School, Sales Development School and Revenue Operations School. Unlock your professional potential and your team's professional potential with a pavilion membership. GETS STARTED TODAY AT JOIN PAVILION DOT Com. Once again, that's joined PAVILION DOT COM. This episode of the Sales Haccer podcast is brought to you by verisnt. High Performing Revenue Organizations have a plan for growth. Get Yours with varrison. SET SMARTER goals and design territories to maximize your revenue potential. Create incentives that motivate the behaviors needed to achieve your...

...goals. Use Ai driven insights to make better decisions and outdo previous performance. Learn how verisent can help you create a predictable growth engine at verisin dot com forward slash sales hacker. Again, that is verisin dot com, forward slash sales hacker. The ones that win are the teams that stay engaged right and that will run through a brick wall for you and your company. So I want to take you through those six pieces. I'M gonna I'm gonna kind of whip through these, but hopefully you can write them down as a framework for yourself to think about. Hey, you know what, if I build, maintain and grow each of these six things, my team is going to stick around and they're going to overperform. And if I don't, that's trouble. All right. So let's go through the six all right, you with me so far? I hope I didn't freak you out. Sam's giving me a thumbs up. We're good. So let's go through the first one. There are six things that drive us as human beings. Intrinsically, meaning extrinsically is I you over to my house, I'm like Hey, hey, Sam, can you go dig some holes in my backyard? Sammy like, screw you, like I'll pay you five dollars a hole. He might go. Hey, where's the shovel? Right, that's extrinsic motivation that I'm giving you. Pay I'm giving you extrinsic motivation to go do a job you don't want to do. Right, it works, doesn't work for long and it doesn't hold company or cold those people. To you. Intrinsic is the things inside us. Number one, predictability. We as human beings, do our best when we can predict, when we have certainty and consistency, meaning when we go to bed at night, we sleep our best when we wake up the next morning and know what we're getting ourselves into. And if you need any proof of the opposite of that, let's go back to March when covid hit and all of these people are in lined by two ply right. Uncertainty drives US crazy. Zee that happens at a macro level, where your team, if...

...they can't see the future and what's going on and they're listening to the news and going holy crap, the stock markets getting crushed. What does that mean for me and my company? Help them predict right the good news and the bad news. And on a micro level, I'm talking about you. Are you consistent? Right when you show up? Are You you every day? We do our best when we know what are we're getting ourselves into. My last CEO, when I was the chief Revenue Officer of power reviews, you can do the math as to who that was. He was super inconsistent. He knew it, highly coachable, but every day you'd walk in and we're like, what matter, are we getting today right? And he knew it. But that would drive us all crazy and as a result, people were always apprehensive and they didn't bring their best to them to work every day. As it turns out, during times of uncertainty, your I q actually lowers. When you're in that moment right, your team becomes less creative and less willing to stick their neck out there with ideas and opportunities that you might be missing. Create certainty, create predictability with your teams. That's when you win, all right. So that's number one. We do our best when we can predict. Number two as human beings. We do our best work when we're recognized for that work, right, when we're validated, when we're given status for doing our best work. What does that mean? Well, there's so many examples here. I'll give you one that we did at power reviews Um we had, you know, I had a team that we're doing SAS deals and we always had the hockey stick in a quarter right right end. A quarter was tons of deals. Our average deal size on our corporate team, which is the team that was always in the office down the street here, was like R so on that type of deal. If you think that the reps are make an eight to ten percent commission, they're making a couple...

...of grand on every deal on average. However, I had gone to my cfo and I was like hey, how do I go about getting a little bit of extra money that I could use just to run little contests with my team, and he's like I'll be right back. He was awesome. His name is Kevin Clark. He's fantastic. He came back with an envelope filled with one bills right and he's just like do what you want with this. Like sweet. We ended up me and my vp of sales. I was the chief revenue offer me the VP of sales. We went to the sales team when we're like, look for the next ten deals that are eight or eight thousand a R R higher. WE'RE gonna walk out with pomp and circumstance and give you a hundred dollar bill and we're gonna put your name on the whiteboard. Right, just stupid little contest, right, there's nothing creative about that. This team ran through freaking brick walls to go after that hundred dollar bill and when we got to nine and there was one slot, the trash talk and the energy on that sales floor was unbelievable. Ball. We did ten deals at the beginning of a quarter, faster than we've ever had for a hundred dollar bills. It had nothing to do with the hundred dollars, right, it had to do with the recognition the status that was a company, with going out there and getting those things. Look for opportunities to recognize your team, not only for that type of stuff but just for the effort. Right, validate them and their work, thank them for coming in. Hey, thanks for showing up today. Right, that's a lot different than it was in the nine nineties, when it was just like you're lucky, you've got a job. In today's era it's thanks for coming in and status. Right, titles. I got reps leaving that are like picking up vp time, like Oh, VP of sales. Well, big is the team that you're gonna run. It was just me, alright, cool, I get it. Status. So we as human beings are driven by recognition, which is status, feedback, recognition. Alright. So that was number two.

Number three. Number three, I think, is the tremendous opportunity we all have that differentiates you from every other company, and it's the aim of your business, the aim of their work, the impact that they're making, the mission, the purpose. The greatest companies I've ever been a part of are the ones where I knew that my work mattered beyond my quota. Right, like I woke up every day like I'm making a difference, I'm doing something that matters. And so the question that you should all ask yourselves this first of all, for for even your own careers, like does my work matter to my company, to my customers, to my customers customers? And then do your reps know? Does your team know? Does their work matter beyond their forecast. Do they believe it every day when they wake up and get cheesy with it? Like one super cheesy example is thinking about there's a medical device company where there's individuals that every day go into a warehouse and all they do is stack screws like they're putting together medical devices all day long. That's all they do, right. It sounds like the most boring work on the planet. Yet they had zero turnover and their performances through the roof. And why? Because every couple of weeks they would bring somebody in who's wearing one of those devices and they would come up there and go, hey, if it wasn't for you stack in those little screws like you do, I wouldn't be here. And then their kids would come running in, like I wouldn't have a mommy, and the next thing you know, and I gotta get back to work. I can't wait. Right. It had nothing to do with their salary to like their work. It had everything to do with the mission, the purpose, the impact that they're making. Figure it out right at power reviews we were selling ratings and reviews technology to retailers and brands. WHO gives a crap? You know, gives a crap the consumer that's taking their hard earned money and eyeing something and trying to make the right decision...

...by utilizing those reviews to make sure that it's going to be the best use of their dollars right. We were making consumers lives better, and that's Cheesy, but my reps believed it right and it was true. It wasn't a lie and we made sure that they saw that and had opportunities to hear about that. We ask customers like customers would come in like hey, why are you renewing with us and why does what we do matter to your customers? And in the end we had a million stories and our reps are reps, became super nerds for reviews. That is your unique opportunity. No company has the aim, the mission, the PERFEX that you do. All right, the next one is quick one. It's pretty obvious. Number four is we do our best work when we've got independence, meaning we've got resources, we've got autonomy, we're trusted, the opposite of which, of course, is micromanagement, which we all hate. It's been interesting to watch the whole dynamic from March of where leaders lost some predictability. That number, that first one. And so what did they do when everybody went home? Hey, we're gonna DO DAILY CHECK INS. In the morning, we're gonna check in and figure out what you're gonna accomplish today, and in the afternoon we're gonna have another call to discuss whether you accomplished it. Like what a goat Rodeo. That was right, but that was the form of micromanaging, because the leaders were losing their ability to predict, and so that got crazy and we had to pull back the reins on it and make sure that our reps felt like they were empowered. But your job as a leader is also to keep them accountable. There's a balance between accountability and empowerment, right, but independence is what keeps your reps going when they feel like you have trust in them. Okay, number five. Number five, to me is the one that we...

...totally over indexed on over this pandemic, right where all of a sudden, like you know, we as human beings, we do our best work when we are part of a pack, right, when we're part of a team, when we're surrounded by family, where we feel like somebody's got our back. If you go back, you know, thousands of years to the Serengetti in like Tanzania. If you were part of a pack, you felt a lot better because all you have to do is be a little faster than the slowest person. Right, if you're by yourself out there, you're in survival mode and you're not working on your best. The same exact thing happened in March, right. We all went home and all of a sudden everybody's by themselves in their rooms. They're losing that connection, they were losing that family. So all of a sudden the bright idea of hey, let's do zoom happy hours, and man did we do those right, like, we kept doing them and it was necessary and it was great and it was kind of bringing everybody together. But over time, what happened? Eighteen months later, we're still doing zoom happy hours. Right, you can do a zoom a happy hour with every company. That's why I believe that aim, that mission, that purpose is so important. But I also believe that this idea of like, do you know, if you talk to your your reps or your team, do they have a best friend at work? Like that's the data point, that Gallop and glint and all of those different companies are talking about is that that emotional connection is not there, that our teams don't have a best friend at work anymore, and I don't think you're going to be able to force it, which is why those other elements are so important. All right. Last but not least, so we've got predictability, we've got recognition, we've got aim, we've got independence, we've got security. The last one is this idea of equitability. We do our best work when things are fair, right. I mean that one seems obvious, but we talked about...

...like. I haven't mentioned compensation. We do our best work when the juice is worth the squeeze, right, when the output that we're putting into our work is giving us the rewards that we think are justly deserved for not only my effort, my time, my resources, but compared to other people. Right, there's no faster erosion of enablement, of engagement than politics and somebody getting paid to do the same job you do more than you do. Right, equitability. Equitability is not just about the dollars. Equitability is about a balance of those other five. Right, my effort, do I get the predictability, the recognition? Does my work matter? Do I have independence, am I trusted and do I feel like people have my back? That all contributes to intrinsic inspiration in your team. And if you have trouble remembering this, I made it easy for you, right. If you take the first letters of each one, it is the word praise. So think about like the praise framework for how you engage with your team and drive engagement. And I'm telling you, that is your opportunity to differentiate. And you want a team that shows up every day, that stays, that does their best and when they're going to the parties, they're the ones talking about how much fun they're having and how you're the company that's hiring. All right, that's it, guys. So that is my rants for today, but I'm hanging around here. Um, I you know, Sam mentioned the Transparency Sale I've got a new book coming out called the transparent sales leader. It goes through this half and then the first half is actually the sales leadership framework and structure. That nobody ever taught anybody. Um, so we out. We're good. All right, I'm hanging around for a little bit, but I hope that helps up here on three. Hey, everybody, hope you like that.

That was part two of a presentation that Todd Capone famous author, sales consultant, trainer and you know, one of the one of the former C R oh of power, I think it's power reviews, uh and, and one of the luminaries in the Chicago ecosystem and he's got a new book coming out called the transparent sales manager. I hope you like it. I hope you enjoyed this conversation, this presentation with that. Lots more coming up and also, you know, yours truly has a book coming out and we'RE gonna be talking about that a lot over the next couple of months and I hope you'll find a way to get a copy. But for now I hope you have a great weekend. I hope you had a great Friday. Thanks again to our sponsors, pavilion and outreach on sponsors of Friday fundamentals. And by the way, remember if you are worried or nervous about the coming economic volatility, pavilion for teams is an all encompassing corporate membership that is an all in one professional development solution for everybody on your sales team, everybody in your marketing team, everybody in your CS team. We train you, we develop you and we make sure that you are more and better position to hit your goals. And we've got a recession pack coming, of course, is specifically designed to help your teams navigate an economic downturn. It's called we'll have selling through an economic downturn, marketing through an economic downturn, leadership through an economic downturn, all of them included in our corporate membership offering called Pavilion for teams. SO LEARN MORE AT JOINT PAVILION DOT com. But I really think you should take a look at it and I hope you have a great weekend. This episode of the Sales Hacker podcast had three amazing sponsors. The first is outreach. Outreach the first and only engagement and intelligence platform built by revenue innovators for revenue innovators. Go to click dot outreach dot IO. Forward Slash Thirty NPC were also brought to you by pavilion, the key to getting more out of your career in role in sales school, Sales Development School, marketing school and our upcoming recession education pack, including selling through an economic downturn, marketing through an economic downturn and leadership through an economic downturn. LEARN MORE AT JOINT PAVILION DOT COM and, of course, varisson. High Performing Revenue Organizations have a game...

...plan for growth. Learn how verissent can help you create a predictable growth engine at verisson dot com. Ford Slash Sales Hacker.

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