Thinking about bringing in investors or selling your business? Well, it’s time to take a deep dive into your sales and marketing playbook.
Especially for B2B companies, potential investors are curious about everything. They’ll probe into where your leads are coming from, the cost per lead, and the tech your sales team swears by.
They’re keen to understand how your salespeople score meetings and the weekly appointment counts of your star performers compared to the rest. And, they’re all about those conversion rates – who’s turning leads into gold and who’s just making calls.
Investors aren’t just tallying up your past wins.
They’re checking out if your sales plan has the potential to level up with a big investment. Got a growth-ready operation that’s just short on cash? That’s music to investors’ ears.
Their biggest headache isn’t finding the funds; it’s finding businesses ready to scale without crumbling under the financial boost.
Gregg Romanzo’s Recipe for Sales Success
Back in 2004, Gregg Romanzo shook up the traditional freight brokerage scene, a field notorious for tight margins and tiny teams. He saw a chance to scale up, way up.
Romanzo’s game plan?
Hire folks with untapped potential, start them on a modest salary (think $40,000 to $60,000), and throw them into the deep end with top-tier training. He armed them with the latest scheduling tech and tied their bonuses directly to the profits they pulled in.
His benchmark for success? If someone could bring in over $100,000 a year in total pay, they were likely to stick around.
Romanzo didn’t stop there. He took his MVPs, the top one or two percent, and built superstar teams around them, setting them up to rake in even more. We’re talking potential earnings in the hundreds of thousands for an outstanding year.
Thanks to a business model that kept base salaries and gear costs low, Romanzo rapidly expanded his sales force. By the time he sold off his venture, he had a 200-strong team, with 190 hitting the phones. That’s 95% of the company focused on sales.
So, how does your setup stack up? If you’re convinced your sales strategy can handle a major team expansion, it might be prime time to scale or show a deep-pocketed investor or buyer just how robust your sales machine is.
The right investment could be the key to unlocking your business’s growth potential.
To Your Success and Sanity,
George
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