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Sales Secrets for the Masters: Selling for CIO’s. Tom Burland – AT&T Jim McLoughlin – PeopleSoft. Remember the Golden Rule!. ….he who has the money makes the rules!. Introduction. Jim McLoughlin. At the end of this complete session you will: know the “Golden Rule’ and the ‘Golden Ratio’

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Sales secrets for the masters selling for cio s

Sales Secrets for the Masters:Selling for CIO’s

Tom Burland – AT&T

Jim McLoughlin – PeopleSoft


Sales secrets for the masters selling for cio s

Remember the Golden Rule!

….he who has the money makes the rules!


Introduction

Introduction

Jim McLoughlin


Sales secrets for the masters selling for cio s

  • At the end of this complete session you will:

  • know the “Golden Rule’ and the ‘Golden Ratio’

  • know the MANTRA

  • have twin strategies for ‘selling’ a project

  • have new tactics to bring closure


What is selling

What is selling?

Jim McLoughlin


Selling is the tip of the iceberg

‘Selling’ is the tip of the iceberg…

‘Selling’

Closed Questions

Open Questions

Re-state & Confirm

Discovery

Qualitative and Quantitative

Research

Empathy


Sales secrets for the masters selling for cio s

2:1!

Remember the Golden Ratio!


Selling is the tip of the iceberg1

‘Selling’ is the tip of the iceberg…

‘Selling’

Closed Questions

Open Questions

Re-state & Confirm

Discovery

Qualitative and Quantitative

Research

Consequence?

Empathy


Sales secrets for the masters selling for cio s

Get an understanding of the consequences!


Sales secrets for the masters selling for cio s

You have to discover the MANTRA!

Money

Authority

Need

Timescale

Relationships

A


What issues do you experience

What Issues Do You Experience?

Tom Burland


Sales secrets for the masters selling for cio s

Influence/Authority Matrix

High

Non-Influential – Authority

(NI-A)

Influential – Authority

(I-A)

Authority

Non-Influential –Non-Authority

(NI-NA)

Influential –No Authority

(I-NA)

Low

High

Low

Influence

Holden International


Sales secrets for the masters selling for cio s

Holden International


Sales secrets for the masters selling for cio s

Value Statement

Goals/Challenges/Initiatives :

demonstrate your awareness and insight regarding issues that are important to your client.

Area of Improvement:

Without getting bogged down in details how can you enable organization success.

Business Impact:

How will this solution affect the business, relating to significant revenue enhancement or improvement in strategic positioning

Credibility:

Your organization’s track record, experience in either this solution or in past proposed projects

Holden International


Sales secrets for the masters selling for cio s

Value Proposition

Beginning ________________________________________

(Implementation Date)

As a result of _______________________________________

(Solution Proposed)

[organization] will be able to ___________________________

(do what specifically)

Resulting in ________________________________________

(quantified business improvement)

For _______________________________________________

(price/investment)

With economic payback ______________________________

(timeframe)

We will document our delivered ________________________

Value by(results tracking system/strategy)

Holden International


Gamekeeper turned poacher

Gamekeeper turned Poacher

Hank Rej


Current business process statistics benchmarks

Current Business Process-Statistics & Benchmarks

Gather or create current KPI’s, statistics, etc.

Develop Benchmarks to “Best in Class” and Competition

EXAMPLE:

  • Number of Suppliers vs. Best in Class: xx,xxx– 1700

  • Number of PO’s per $B Spend: xxx,xxx – 18,000

  • Suppliers Comprising Top 80% per $1B: xxx – 10

  • FTE’s per $1B Spend: xxx – 36

  • Percentage of RFx’s that are Electronic: xx% - 37%

  • Percentage of PO’s that are Electronic: xx% - 85%

    Source: Hackett Group


Business process as is current to be

As Is Business Process:

Describe for the executives in a brief bullet summary the problems, issues or deficiencies that will allow them to understand the impact on the business and the need to change. (#,#)

To Be Business Process:

Sourcing: Process discipline, standard rules & workflow methodology. (#,#)

RFQ Automation: Disciplined supplier qualification, inclusion of bid factors, collaborative scoring and & awarding. (#,#)

Supplier Rating: commonly defined measures, continuous rating & parameter alerts for all performance measures. (#,#)

Analysis & Contract Compliance: Real time spend analysis by commodity & monitored contract compliance.

Business Process: As Is (Current) & To Be

Source: Supplier Selection & Awarding Process

THE RESULT OF THIS ANALYSIS IS THE VALUE STATEMENT!


Business process as is current to be1

Business Process: As Is (Current) & To Be

Savings in the Business Case:

  • Summary bullets on one slide which list out the key Value Statements and the dollar value.

  • Correlate to the “As Is” v “To Be” process changes you have identified


Challenges

Challenges

List the difficult issues facing the project.

Get the cards on the table!!

Some Examples:

  • Risk of not managing the cultural change

  • Assessing field staff skills levels

  • Upgrading IT infrastructure & personnel

  • Need to be open to best practices adoption

  • Establishing and managing to common KPI’s

TCO


Credibility

Credibility

List the circumstances in you and/or your team has been able to deliver on commitments in the past.

Cite specific benefits achieved.

Cite experience gained in other organizations

Some Examples:

  • Another internal project

  • Competitors who have/have not done similar projects

TCO


Other areas for potential savings

Other Areas for Potential Savings

There are always other areas of savings that are not part of the business case. Although the case is justified on the hard savings management commits too, the incremental knowledge that more is available is often a critical success factor.

Tangible Example:

  • Headcount reduction that management does not want to include at this time.

  • If an estimate is conservative the upside can be listed here.

    Intangible Example:

  • Possibility of Centralization Over Time.

  • Acquisition ROI Acceleration with new system.


Reasons to invest

Reasons to Invest

Your finishing slide. Make sure you treat it like an elevator speech where you only have 1 minute to leave the executives with an understanding that compels them to invest.

  • Key (1 or 2) business benefits of the investment

  • Increases Shareholder Value

    • Annual Cost of Goods Reduction of $XX.XM after tax.

    • Payback in X.X Years

    • 5 Year Cumulative Cash Flow of $XX.X Million

    • IRR of XX% and NPV of $XX.X Million

    • EBITDA $X.X Million in 2008

  • Sarbanes-Oxley Compliance

  • Implementation Plan That Mitigates Risk

  • Corner-Stone for Potential ERP Solution


Example business case name

ExampleBusiness Case Name

Executive Presentation Date


Start with the final deliverable in mind

Start with the Final Deliverable in Mind.

  • Executive Summary

    • Key Strategic Principals

    • Proposal/Benefits

  • Business Case Financial Summary

  • Current Business Process Statistics & Benchmarks

  • Best Practices Model

  • Business Processes: As Is (Current) & To Be

    • Business Process A

    • Business Process B

    • Business Process C

    • Business Process D

    • Economic Benefits

  • Implementation Plan – Risk Mitigation

  • Challenges

  • Other Areas For Potential Savings

  • Reasons to Invest


Outline key strategic principles

Outline Key Strategic Principles

Project Name:

  • Increase shareholder value

  • Increase EBITDA by lowering _______________

  • Generate free cash flow

    Project or Functional Goals (if they exist):

  • Reduce COGS through leveraged strategic sourcing

  • _______________________________________

  • _______________________________________

    Opportunity:

  • Ex: Leverage xx% to xx% of direct material spend


Proposal benefits

Proposal/Benefits

  • Ex: One company wide integrated procurement system

    • Strategic Sourcing control and productivity increase

    • Eliminate maverick spending

  • __________________________________

  • __________________________________

  • __________________________________

  • Comprehensive implementation plan with risk mitigation

  • Conservative estimates Cost & Benefits

  • Project cost of $XX.Xm

  • Payback of X.X years

  • IRR of XX%

  • NPV of $XX.X million

  • Potential savings in other areas


Business case financial summary

Business Case Financial Summary

Project pays for itself, creates positive cash flow


Summary reasons to invest

Summary - Reasons to Invest

Key (1 or 2) business benefits of the investment

  • Increases Shareholder Value

    • Annual Cost of Goods Reduction of $XX.XM after tax.

    • Payback in X.X Years

    • 5 Year Cumulative Cash Flow of $XX.X Million

    • IRR of XX% and NPV of $XX.X Million

    • EBITDA $X.X Million in 2008

  • Sarbanes-Oxley Compliance

  • Implementation Plan That Mitigates Risk

  • Corner-Stone for Potential ERP Solution


Lesson to learn if you re the poacher you better think like the gamekeeper

Lesson to learn:If you’re the poacher, you better think like the gamekeeper!


Asking for the order

‘Asking for the Order’

Jim McLoughlin


Sales secrets for the masters selling for cio s

Circa 1982, UK

Selling is as easy as ABC….

AlwaysBeClosing!


Sales secrets for the masters selling for cio s

Ask for the order frequently…but do it gently!

Sales cycle

Trial

close

Trial

close

Trial

close

Trial

close

Trial

close

Close!


Sales secrets for the masters selling for cio s

Ask for the order…and then stay silent!

Assume a ‘Yes’…

“OK…I’ll pick up the signed Capital Approval Request tomorrow”

Give two alternatives, both of which are ‘Yes’…

“Is it better to pick up the signed Capital Approval Request today

or tomorrow?”


Reprise summary

Reprise & Summary

Jim McLoughlin


Sales secrets for the masters selling for cio s

What’s the Golden Rule?

What’s the Golden Ratio?

What’s my MANTRa?

What are the twin strategies for persuasion?

When should I ask for the order?

Did we achieve the mission well or very well?


Sales secrets for the masters selling for cio s1

Sales Secrets for the Masters:Selling for CIO’s

Tom Burland – AT&T

Jim McLoughlin – PeopleSoft


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