Innovative Solutions: Sometimes you win, every time you learn.

Presentation: June 9, 2014

Steve Malley: Candidate for Consideration

WELCOME AND THANK YOU!

AGENDA:

• Who IS your next hire? • Sometimes you win, every time you learn: A case study

on the deal that changed my approach to business. • Not your typical sales rep: A case study on a time where

losing a deal elevated my success to another level. • What fuels me? • Q & A

WHO IS YOUR NEXT HIRE?

THE REAL STEVE MALLEY:

• Interactive • Neighborly• Not a runner… • Optimistic • Veracious • Adaptable • Thankful• Imaginative • Valuable• Ethical

CASE STUDY #1: SOMETIMES YOU WIN, EVERY TIME YOU LEARN.Business isn’t a zero sum game: The account that changed my approach to sales process.

Regus: USAID- Contract Broker Referral.

How did I find them?

• Broker Door Pulls• Broker Bakery

Drops• NETWORK,

NETWORK, NETWORK

• Broker Calls for rep space

• Lunch and Learns

Initial Process:

• Broker Referral during bakery drops• Entered the prospect into CRM • Scheduled “tour dates” in 3 different buildings • Coordinated transportation for executives and brokers• Prepped center operations team and team manager• Prepped floor plan options based on space requirements• Secured construction/build out spec permit • Greeted prospect and broker toured them through 3 buildings• Discussed options in sales office • Proposed pricing options: 1101 Pennsylvania Avenue, NW• Delivered proposal

THEN WHAT HAPPENED…?

• Followed up with the broker

• Asked about other options • Isolated concerns • Received approval for

customization.• GOT THE CALL BACK! • 7:45pm Saturday Night. “

Want to see it one more time…”

• SIGNED THE DEAL 9:15PM!

• 2 Year LEASE • 26k per month • 4 months free• TOTAL REVENUE:• $520,000! • COMMISSION/Bonus:

≈$22,000

Initiate learning…

Sometimes the tiniest details, carry the most significance:

• PERCEPTION:• Promotional broker

commission rate: 10% of contract value

• Broker commission to be paid: $52,000

• REALITY:• Promotional broker

commission rate 10% of 1st year contract value, 1% for each subsequent year.

• Broker commission to be paid: $28,600

Actual Expected0

10,000

20,000

30,000

40,000

50,000

60,000

Series 1

TOTAL DELTA: $-23,400

Decisions….Decisions:

• Lose the deal?• Blow up the

relationship?• Lose credibility? • Impact corporate

relationships? • Undermine

colleagues relationships with broker house?

• What about the new client…?

Do the right thing all the time!

- Forfeited my commission and bonus to keep the deal. - Offered sincere apology for not communicating promotions properly.- Hand delivered second check. - Asked to be considered for future business.

Lessons Learned:

1. Follow the process and set clear expectations.

2. No amount of money, is worth jeopardizing your reputation.

3. Over-Communicate.

4. Humble pie is tough to chew, learn from your mistakes, decide definitively to never let them happen again… MOVE ON!

5. Seek out the positive in every loss.

Case Study # 2: NOT YOUR AVERAGE SALES REP, THE DEAL THAT ELEVATED ME FROM SALES REP TO EXECUTIVE ADVISOR

A good business advisor always keeps the best interest of the prospect in mind.

Insperity: AOC Key Solutions, Inc.

Prospecting Process:

• Geographic LinkedIn search

• Identified target prospect

• Three points of entry

• 5 touch system• Attended CEO

presentation

Initial process

• Secured meeting with CEO • Brought in my colleague for collaboration/partnership

effort• Attended discovery meeting • Uncovered several pain points • Followed up with CEO • Sent industry relevant data to him • Follow up, up, up

You won’t believe what happens next!

• TIMING AND MINDSET ALIGN

• CEO agrees to second meeting

• Colleague and I bring in SENIOR advisor

• Set meeting with ENTIRE executive team.

Analysis Data:

• Collected Client Data “CENSUS” • Reviewed Data• Researched Options • Priced out plans • Built proposal analysis • Built pricing comparison vs. current efficiency • Set Proposal Meeting • Strategy meeting with my Sales team • Discussed Strategy with Sales Manager

Our Findings:

• Prospect was over- compensating several operation people

• Medical pricing was 20% less with Insperity

• Wash $:$ year one• 5 year savings

(medical alone) $287,000

• Estimated 3% return to CFO on time spent “managing” HR.

Objections:

• Incentive to switch, based off of little/no savings year one

• CEO and President doctors were out of network (that means their wives’ doctors were out of network too)

• Medical plan not as strong?

Climbing Mt. Objection:

• Confirmed all objections with executive team• Developed strategy with sales team to isolate and answer

all objections• Prepped with our management team (another perspective) • Scheduled follow up/final presentation review • Addressed new objections- Local competitor • Set webex with CFO• Established “sign-on” deadline for prospect decision

Not so much…

So….. We’re good to go, right?

Going the extra mile:

• Everything in our power to keep the deal on track:• Contacted CEO and Presidents doctors to address becoming

in network• Reduced pricing • Reduced start-up costs • Called Insperity medical group to ask for In Network

exemption• Removed deadline for decision

From Sales Person to Trusted Advisor:

HIT THE BRAKES!!!!

• Stopped and thought about real objection• Determined local competitor was better option based on

stated needs • Contacted local advisor • Explained situation • Made introduction • Validated capabilities • Closed file

4 months later…

• Ran into CFO at networking event: • Competitor still not fully implemented• Lots of reporting issues• Not the same price quoted• Medical plan not stronger • Renewed at higher rates at company fiscal end • CEO called me two weeks later

Are we there yet?

Prospect Update:

• Prospect agreed to review with us at the end of April • New approach• Focus off medical • Focus on HR/Team/Process• Sent in OUR service team to assist • Working to create Q4 transition schedule

Results:

• Slow buck over quick nickel

• Not a prisoner of hope

• Did the RIGHT thing for the prospect

• They came back to us

• Impossible to know what you don’t know

Conclusions:

• Winning is sweeter when the prospect comes to you• Pressure on the competitor we introduced• Valuing vs. Needing the business • Can’t rush a big decision

What fuels me?

Maslow’s Hierarchy:

Self Actualization

• Professional success is a direct correlation • What DRIVES you to a higher sense of purpose? • What makes you happy? • How much more can you grow professionally?

Why Innovative?

• Culture• Reputation• Corporate Vision • Growth Organization • Values Employees/Human Capital • Product fits market

GPS set for success:

SKY IS THE LIMIT!

THANK YOU FOR YOUR TIME AND

CONSIDERATION!

QUESTIONS?

Contact Information:

Stephen P. Malley

4220 Campbell Ave # 514

Arlington, VA 22206

585-317-1367

Stephen.malley2@gmail.com

Slides available on Slideshare

Citations.

• Images found 6/5/14• Humility • https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=F9p2v7AB974n2M&tbnid=hVDsKQqK1mm0mM:&ved=0CAQQjB0&url=http%3A%2F

%2Fwww.warriormindcoach.com%2Fblog%2F2011%2F11%2F07%2Fmental-strength-tip-65-humility-and-personal-success%2F&ei=q_WUU6rfDoSayAS_vICICQ&bvm=bv.68445247,d.aWw&psig=AFQjCNEBihl5hTM6yomlH60D_iz0IDnTsQ&ust=1402357542339107

• Monday Image • https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=r_DoG1pVYBJ8rM&tbnid=jvjaul-0ahdg4M:&ved=0CAMQjhw&url=http%3A%2F

%2Fwww.myniceprofile.com%2Fmonday-116033.html&ei=FPaUU-aeOceTyASH24G4CA&bvm=bv.68445247,d.aWw&psig=AFQjCNFkFZ9HmTge5rtpJqMEfNOhHz5naQ&ust=1402357651607943• Jordan Image• https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=ewfxVvBDgBn7CM&tbnid=_q0bad0aGjgj5M:&ved=0CAUQjRw&url=http%3A%2F

%2Fpersonalexcellence.co%2Fquotes%2F1253&ei=UvaUU9v6DcyUyATPo4CoBA&bvm=bv.68445247,d.aWw&psig=AFQjCNE0K6Fa4nJx0q2XelhIfmmg5PTSwQ&ust=1402357711834459• Saul image • https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=uK5JrNtd8RXaSM&tbnid=roFXA8ikYZhRvM:&ved=0CAUQjRw&url=http%3A%2F

%2Fwww.linkedin.com%2Ftoday%2Fpost%2Farticle%2F20140424095150-5663599-networking-let-s-just-say-i-know-a-guy-who-knows-a-guy-who-knows-another-guy&ei=8vaUU_XLG462yAT_7IJA&bvm=bv.68445247,d.aWw&psig=AFQjCNFsBr4v3levlKqHts7SevBl-S75Qw&ust=1402357872792523

• Chickens hatched image• https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=x1LQtPeC-4wa6M&tbnid=1DDHDZvKxulPHM:&ved=0CAUQjRw&url=https%3A%2F

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• Baby Big eye image• https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=iRGoqA-bOKMXgM&tbnid=aMU95lQjnMWcxM:&ved=0CAUQjRw&url=http%3A%2F

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• Opportunity over problems image• http://www.google.com/imgres?imgurl=http%3A%2F%2Fwww.dumontis.com%2Fsystem%2Ffiles%2FPic_ProblemOpportunity.jpg&imgrefurl=http%3A%2F%2Fwww.dumontis.com%2Fen

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• Hit the target image• http://www.google.com/imgres?imgurl=http%3A%2F%2Fmt-st.rfclipart.com%2Fimage%2Fbig%2F46-c4-4b%2Fdartboard-with-dart-hit-the-target-Download-Royalty-free-Vector-File-EPS-

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• Stop sign• http://www.google.com/imgres?imgurl=http%3A%2F%2Fwww.clipartbest.com%2Fcliparts%2Fz7T%2FaM5%2Fz7TaM5XiA.png&imgrefurl=http%3A%2F%2Fwww.clipartbest.com%2Fpicture-of-

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• Nascar Fuel • http://www.google.com/imgres?imgurl=http%3A%2F%2Fstatic.ddmcdn.com%2Fgif%2Fnascar-sponsorship-2.jpg&imgrefurl=http%3A%2F%2Fauto.howstuffworks.com%2Fauto-racing%2Fnascar

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