The IMR Summit February 19, 2018 11:00 AM to 3:00 PM Fort Myers, - - PowerPoint PPT Presentation
The IMR Summit February 19, 2018 11:00 AM to 3:00 PM Fort Myers, Florida Discussion Leaders J. Michael Marks, Indian River Consulting Group Abe Walton PhD., Ivory Bridge Consulting Group Attention Participants This deck contains materials
February 19, 2018 11:00 AM to 3:00 PM Fort Myers, Florida
Discussion Leaders
Abe Walton PhD., Ivory Bridge Consulting Group
This deck contains materials that will take approximately 8 hours to properly cover and we only have three hours. Our intent is to tailor the material on the fly based on audience
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For Your Convenience
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Morning Session 11:00 to 12:30
Lunch 12:30 to 1:30 Afternoon Session 1:30 to 3:00
You may think that you are just a really talented sales rep but your success is defined more by your business model than your talent
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He passed away on November 11, 2005 I had the great fortune as having many classes and dinners with him at Claremont Graduate School and the book’s principles include: 1. Ensure your capacity for survival with enough strength to weather a blow 2. Ensure your ability to recognize needed change and adapt quickly 3. Ensure the boldness necessary to exploit emerging
His writings contributed to the philosophical and practical foundations of the modern business
concept known as management by objectives and he has been described as "the founder of modern management"
http://smile.amazon.com/Managing-Turbulent-Times-Peter-Drucker- ebook/dp/B000FC12QE/ref=sr_1_1?ie=UTF8&qid=1424706401&sr=8- 1&keywords=managing+in+turbulent+times
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Resource-based competitive advantage
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How can you possibly know what you would do while under constraints, if you don’t know what you would do with out any constraints. Start with WHY? or How Might We?
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The only problems you have left are the perfect ones. The imperfect ones, the
them already. It's the perfect problems that keep us stuck. Perfect because they have constraints, unbendable constraints, constraints that keep us trapped. There's no way to solve the perfect problem because every solution involves breaking an unbreakable constraint. And there's your solution. The way to solve the perfect problem is to make it imperfect. Don't just bend one
If the only alternative is slow and painful failure, the way to get unstuck is to blow up a constraint, deal with the pain and then run forward. Fast.
http://sethgodin.typepa d.com/seths_blog/2010 /07/getting-unstuck- solving-the-perfect- proble.html
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Effective Rep Firms Keep Both Sides Honest Or At Least Equally Irritated
Downstream- End Users & Distributors A rep-discovered sales opportunity creates significant pull through revenue for a distributor The balance of direct and distributor lines creates linkage with other channel partners who bring
The rep firm provides the technical expertise so the distributor or end user doesn’t need to invest in it Upstream- Principals Rep firms are good at 2 out of these 3 activities, so be clear and choose wisely based on the needs of your principals
Demand creation or making markets for distributors to serve Providing principals with competitive insight and new market
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Every business model has two components, how to add value to a market and then how to extract value Most businesses started with a virtuous circle, but when it breaks they plateau
it works
and happy The key is knowing your tribe
switching costs and just deny it
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Business models that don’t evolve will experience declining growth rates down to core economic levels, excluding share shift All of you started with a founder entrepreneur who was the lead sales manager, then you hired sales reps, and when absolutely necessary, finally hired some administrative support besides a spouse
factory paid commissions to attract reps in the beginning
Many firms get stuck here if you fail to change your comp plan as reps become
and partner profits) while W-2’s grow rapidly at or above market
This is what funds the specialized marketing and operations functions that dramatically increasing sales rep productivity by typically 4 to 8 times
Over 20 of the 21 Million US Firms Are Lifestyle Businesses
Potential Action Step
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1. The accelerating trend away from relationship buying to advantaged players & rabbits 2. The internet buffet of choice and transparent race to the bottom 3. The erosion of selling service as a differentiator in the market 4. Increasing customer sophistication 5. Aging of old school sales reps and a limited pipeline of replacements 6. Markets are aligning by size where larges buy from larges Many firms simply ride it down harvesting what they can The punch line is that the old model is not a best practice for the future.
http://blogs.hbr.org/cs/2012/07/the_game_buyers_play_with_vend.html?utm_source=fe edburner&utm_medium=feed&utm_campaign=Feed%3A+harvardbusiness+%28HBR.o rg%29
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The most probable end to a rep firm is when the managing principal ages out and sells the business on a leveraged buyout to a younger firm member, who will default
shareholder value outside of the relationships with the firm’s senior sales executives There is nothing wrong with this as long as you don’t drink your own Kool-Aid
pig” and ride it down taking out as much money as possible This is often a best practice and there is a freedom when giving up the illusion of building something that exists beyond you (Issue: getting others to invest) Some firms go on to create real shareholder value beyond the first founders when instead of waiting for a crisis, they start investing now (the afternoon session) History Doesn’t Repeat Itself, But It Usually Rhymes
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EBITDA is Earnings Before Interest, Taxes, Depreciation, & Amortization (think free cash flow) The four multiple is the median value for small professional service firms and your EBITDA is calculated by:
ƩN(Principal Revenue X Commission Rate) = Total Rep Firm Revenue less (Total Salary and Commission Compensation paid to
less (Other operating expenses except interest and taxes) Equals the firm’s ~EBITDA
This value times four is the typical price that a willing seller pays to a willing buyer
relationship equity with a sizable variable hold back based on transition success
* Does not include profit withdrawals
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Your value declines if you are within two years of exiting, don’t wait too long
Scale back to become a Lone Ranger hanging on in retirement This is often a viable alternative for non US principals who are skimming this market Reduce the compensation levels of existing staff capturing more for the owner
Sell out to remaining staff using 4X adjusted EBITDA
Sell out to an adjacent firm or to a senior leader at a supplier
M&A Within Your Supplier Base May Create Valuable Exit Opportunities
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Calculation Element Value
withdrawals), sales reps, and support staff
Add one additional multiple if your largest supplier has extended termination notices, and subtract one multiple if your key line was just acquired, each situation is unique
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Get into groups by non-competing firms and discuss the questions below making sure that everyone expresses their own views. Feel free to give the boss suck up behavior if necessary.
Choose a group leader by determining who has the most children and grandchildren The role of the group leader is to ensure that everyone weighs in with their own views and that the group stays on track and consider these statements and questions
reason, and discuss your views on how well they managed their exits
you would like to get the take on from Mike and Abe?
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Morning Session 11:00 to 12:30
Lunch 12:30 to 1:30 Afternoon Session 1:30 to 3:00
From Patrick Carrol
https://www.linkedin.com/pulse/6-ways-evolve-modern-sales-pro-patrick-carroll/
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Professional management requires growth faster than GDP and a 20% return on invested capital
Cost advantages come from scale, specialization, and performance management processes Price advantages come from scale with suppliers, mass customization, and leveraging competitive intensity
Competitive advantage is not real unless you gain a significant cost advantage over your competitors
execution is an activity, not a strategy.
Marketing is a force multiplier for everything above
http://www.amazon.com/Understanding-Michael-Porter- Essential- Competition/dp/1422160599/ref=sr_1_1?s=books&ie=U TF8&qid=1360612888&sr=1- 1&keywords=understanding+michael+porter
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How can you possibly know what you would do while under constraints, if you don’t know what you would do with out any constraints. Start with WHY? or How Might We?
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Start by knowing what you are selling and who is buying it
senior project engineer, fleet manager, or the purchasing manager What you need to be selling is lower risk backed by something tangible (hard for a competitor to duplicate) like a bond or insurance A core competency must meet three criteria: 1. It must be valued by the customer 2. It must be expensive or hard for a competitor to duplicate 3. It must be transferable to other products or markets Leveraging core competencies leverage your ability for increasing switching costs
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Relative difficulty of sales execution
Customer Segment
Existing New
Products, Services
Existing
Hard Harder
New
Harder Hardest
Customer penetration provides
protect existing business and intercept opportunities for new business Large firms are not agile so they get the best returns by focusing on large scale customers with high risk avoidance
Business Models and Strategy
Distri ributors leve vera rage r relationships Manuf nufactur urers leverage b brand
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Relative difficulty
execution
Customer Segment
Existing New
Products, Services
Existing
Hard Harder
New
Harder Hardest
Do you have a strategic perfect line card?
You used to call this prospecting
Look at Lowes
https://www.lowesforpros.com/articles/lowes-business- replenishment-program_a1749.html
Cost To Grow and Potential To Grow Define Your Priorities
It is very hard for a rep firm to develop a new customer base
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Balanced network of channel partners, both rep firms and distributors
Alignment
well do you know their analytical profile?)
line (this means young guys investing for the future)
published and linked to theirs)
Performance
Number Of Rep Firms Annual Percentage Growth Rate Target %
Setting this expectation is clearly the responsibility of the rep firm
http://www.mdm.com/analytics
Potential Action Step
Your sweet spot
Manage Expectations
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1. Build a list of category leaders in primary, secondary, and tertiary products used by your core sweet spot customers 2. Google dive each to determine if they use rep firms or just announced a major layoff or restructuring (big bet to get them to outsource their sales force) 3. Go see which complimentary lines are carried by their reps in other markets, look for combinations of lines that go together 4. Rank each potential line by both the number of other lines they coexist with their category leadership position and the high, medium, or low alignment between their target customers and yours 5. Break the list into three columns; acquirer, acquiree, uncertain (probability of being around in 5 years) 6. Develop your selection criteria and weighting to rank the lists (there will be multiple lists based on combinations)
% of Sales Commission Rate % Commission $$$ % of Sales Effort Primary Products 60% Lowest 47% 68% Secondary Products 30% Intermediate 37% 30% Tertiary Products 10% Highest 16% 2% Blended Total 100% NA 100% 100%
Your business is stronger with a mix
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customers because of your existing bundle and relationships, not your selling skills (ante to play)
important to their target customers
knowledge far in excess of any potential factory principal (with data, not stories)
average growth https://mrerf.org Annual Dues $250/yr CPMR ~$2,200/3 yrs
Potential Action Step
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retain all of the flow business that is bought and not sold, avoiding CSEs
when a competitor CSE occurs
disrupt a working sourcing relationship, usually driven by a product or programs
A good Critical Selling Event (CSE) happens to a customer and is created by a failure of their incumbent supplier, or a supplier of that distributor, meaning it is an external event and outside the control of your sales rep
*Repurchases of identical product
The secret of share growth is to never experience a CSE yourself and intercept the CSEs of your competitors Your ability to set traps that intercept CSE’s is a major factor in capturing new customers & suppliers
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Key market-timed events are often the basis for winning and keeping contracts Ask yourself: How much of your marketing budget is spent on broad marketing efforts vs. identifying and capitalizing on specific market making events? How much can you afford to pay for a market making event? Do you know, or even really care, how many customers you have and how loyal they are? Customer Retention and Repurchase Rate Remember that the real goal is to increase shareholder value and the correlation to sales has gotten weak Loyalty and repurchase rate increase switching costs which always drive up profits
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Bid auctions are defined as perfect competition because all value accrues to the end user at the end of the value chain
We bank with Wells Fargo and we all hate them- but we won’t change
any better, so we stay and they make high margin You will not create any competitive advantage without changing your offering to increase customer switching costs
change
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Potential to Grow Cost to Grow
$=10Millions, $$=100Millions, $$$=Billions, $$$$=10Billions Market Size Growth Rate Selling Cycle Ability to Expand Market Current Share of Customer Wallet Level of Trust Our Knowledge
Sales Force Fit (HR investment) Mar-Comm Fit Product Offering Fit Operational Fit (CapX required) Competitive Intensity Price Sensitivity Switching Cost
Segment 1
$$$$ H
1 – 2 yr
H L L L L L M H M L H
Segment 2
$$$ H
6 – 18 mo
H L L L M M H M L L H
Segment 3
$$$$ M
< 6 mo
L L M H H H M H H H L
Segment 4
$$$$ L
< 6 mo
L H H H L H H L H H L
Key conclusions:
Segment 1
competition”: high barriers to entry and high switching cost. But accessing the market will take time, money and focus Segment 2
Segments 3 and 4 offer lower profit growth opportunities
Get the columns right first
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What is the role of your
Is it OK that he or she spends no time at all visiting 36% of the total industrial spend in their territory? How would your principals look at this? Are there differences by product class?
Predicted Demand From MDM Analytics
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Do what you do best and buy the rest You must sell to users the way they want to buy- it is changing rapidly The Original Bundle =Energy +Capital +Labor +Materials Why is this happening?
Gen 1 Unbundler’s VISA UPS NBC Early switchboards
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It starts with thinking about utility instead of products
−
The hard part is not designing a service based business model, the hard part is letting go of your history
Your could provide warehousing and logistics service both upstream and downstream, VMI, toolroom management, facility audits, pre or post sales value-added services, commissioning, reconditioning, end of life disposal, market insight, surveys, new product evaluation services, application or certification training, value engineering, bonded inventory, or hundreds of other things that would be valued in your supply chain
you own
You need to design and build your own digital roadmap for new capabilities
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It is not about what you can sell, or what you want to do, it is about how can you save money for your core valuable customers Speak with your good customers discussing: where they have recurring pain-in-the- ass problems; the performance and cost of their other service providers; and any initiatives that they are considering for the future Explain that your are gathering research and would like to come back when you have sized and cost-out the various opportunities The value you provide is defined by the customer and often it is the difference between what they are paying for something now, and how much lower you can provide it You speak with many core customers looking for patterns then you build out financial models for each common theme remembering the 1/3’s model
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Segments
delivered to customers through communications, distribution, and sales channels
customer problems and satisfy customer needs with value propositions
established and maintained with each Customer Segment
propositions successfully offered to customers
assets required to offer and deliver the previously described elements… 7…by providing a number of key activities
resources are acquired
in the cost structure
Value Creation Efficiency
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Customer Job Activities, roles, responsibilities Pains Risks, fears, hassles Gains Success, fun, status Pain Relievers What they know they want Gain Creators What they’d want if they knew Products and Services What we could offer
Methodology adapted from The Business Model Canvas, by Business Model Foundry GmbH, www.businessmodelgeneration.com
Segmentation Positioning
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Get into the same groups but choose the group leader based on most years of education
The role of the group leader is to ensure that everyone weighs in with their own views and that the group stays on track and consider these statements and questions
making PowerPoint, have any real impact on those that prosper in the future?
looking at your business?
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Morning Session 11:00 to 12:30
Lunch 12:30 to 1:30 Afternoon Session 1:30 to 3:00
Challenge: Learn something new from someone you don’t know well
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Morning Session 11:00 to 12:30
Lunch 12:30 to 1:30 Afternoon Session 1:30 to 3:00
The punch line is that your old model is not a best practice for the future. How strong is your web presence? Go Google, “manufacturer rep firm websites” to see best in class examples Potential Action Step
Trusted relationships have migrated to rabbits & advantaged players
Click the picture for the link
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This Is the Core Executive Responsibility Tactics Time Growth and Share End State
Current State
A clear end state is the best way to ensure that your investments and priorities are additive Success is often driven by what we don’t do!
Kitting Staging Pricing E-Commerce Promotions Market data Warehousing
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national rep firm in the automotive high performance aftermarket in 1975
It is common in the Heating Ventilation Air Conditioning and Refrigeration (HVAC/R) industry and the factory automation industry for Engineering Project and Construction (EP&C) firms to become manufacturers reps and for reps to migrate into EP&C firms Servicing the “last mile” in the building materials and liquor industry has created many replenishment rep firms
electronically with smart tablets in cars on routes for a service fee Rep firms could have great data on product utilization that is saleable but most don’t spend the time or money to leverage this You Earn Money By Taking Away Someone’s Pain
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The most common growth strategy for a rep firm is a merger with adjacent geography (same lines) followed by a merger in the same geography with different products to the SAME customers Two owners who both want out now is a disaster scenario The ideal exit point for an owner is two years before you want to be done so you can effectively transfer relationship equity (you will leave some money on the table) Remember that old men always stay too long, and death isn’t step two in this The key bit of intelligence for acquisition and merger opportunities is the alignment
Supplier acquisitions create both channel conflict and opportunities There are real opportunities in adjacencies if it makes your customers or principals stickier (e.g. staging, kitting, VMI, 3PL, EP&C, selling consumption info back)
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This is a worksheet to calculate the increase in your firm’s valuation if you grew large enough to maintain market compensation when you paid your sales reps 1/3 of your average commission rate from your principals
is providing services
staff and major technology supporting the same number of reps earning 10% more
more lines or same lines, more geography, every mix is different
from selling to management This takes years of hard work so don’t think about starting if you have less than ten more years
Most Successful Firm Owners Reach a Stage in Life That Scale Isn’t Worth It, Just Like a Millennial
Financial Elements Entrepreneurial Model Current State Full Buildout With Scale and ~50% of revenue in services A Rep Firm Total Commission Income 1,500,000 $ 4,000,000 $ B Average rep W-2 (T-4) 90,000 $ 132,000 $ C Number of reps including owner (No change as headcount is in support staff) 10.00 10.00 D Percent of commissions paid to rep 60% 33% E Total rep compensation 900,000 $ 1,320,000 $ F Estimated support overhead at 33% of A 495,000 $ 1,320,000 $ G Firm EBITDA = A - (E + F) 105,000 $ 1,360,000 $ 420,000 $ 5,440,000 $
5,020,000 $
Times a 4X Multiple
Increase in Enterprise Value
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The rep firm marketing executive takes responsibility for business development using the sales force as an offensive weapon to gain and preserve share Gaining market scale is often not about selling stuff, rather it is about getting customers to choose your bundle as their supplier of choice You may be selling a value proposition- not products Scorecards are public and real time
Geo-location services drive everything
term SoLoMo)
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Harvard Business Review
so start by asking: what’s the job to be done?
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When we viewed innovation through a “jobs-to-be-done” lens, new possibilities emerged, inspiring us to rewrite the rules of innovation.
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Importance + (Importance-Satisfaction) = Opportunity
Desired Outcomes Importance Satisfaction = Opportunity Scores 1. Minimize Likelihood of going 9.5 3.2 = 15.8
2. Minimize frequency of cutting 8.3 4.2 = 12.4 the cord 3. Minimize the amount of 9.5 7.5 = 11.5 splintering 4. Minimize time to make bevel 5.1 1.0 = 9.1 adjustments 5. Minimize the likelihood of 9.0 9.2 = 9.0 cutting user
Sellers, take note: Stop chattering about the attributes of the product. Instead, be utterly clear about what it does for those who buy it
Success comes from getting the job done 20 - 30 percent better
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Get into the different groups (you already know what the other guys will say) but choose the group leader based on who has the most years of experience as a manufacturers rep The role of the group leader is to ensure that everyone weighs in with their own views and that the group stays on track and consider these statements and questions
mowers?
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In the beginning, sales reps were all self directed and told to look at their territories as their own businesses
for price reductions) and the idea was they could eat what they killed
What makes me unique is that I sell myself first and offer personal service As market complexity increases the role transitions from being self directed to being management directed as an offensive weapon
What would happen if a Navy Seal Team was put in charge of mall security with no mission defined or rules of engagement?
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Inside sales leads with specialists You have sticky customers with reliable service Field sales is on call, as necessary, by your team
Expand share of wallet using team members and introducing specialists along with special services
E-catalog or Amazon Easy to buy & “once and done” Early alert opportunity tool
Prospect with provided marketing analysis on cost to grow and potential to grow Your value proposition is explicit and key * Lights Out Order Processing (ERP or App) What % of your sales calls are on the right side of the model?
2-9
The Big Pill Is That Field Sales Customer Assignments Are Episodic
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FAM
Field Acct Mgr
IAM
Inside Acct Mgr
ISR
Inside Sales Rep
CSR
Customer Svc Rep
Specialist TSR
Telesales Rep Common titles
SAM, AM, TM, FSR, OSR AM, IAM, Segment AM ISR, CSR CSR Many TMR, TSR
Primary SOS(1)
Business solution “Relationship” = reliability and trust Technical and transactional Transactional Technical or functional Awareness
Customers assigned?
Yes, by dirt Yes, by dirt or segment Yes, by dirt or segment No Periodically, by need
RFM(2) tickler
% in field
>80% Own car 5% - 50% Shared car <5% No car None >50% Own car None
% demand creation
>90% 5% - 50% <5% 0% >90% >90%
Customer relation role
Primary Primary Primary but often shared with FAM Maintenance “first do no harm” Support but Primary in peer to peer situations Generate and find CSEs(3) to pass to
Account capacity
~30 ~100 Hundreds Hundreds Hundreds Usually a set of <1,000 changed periodically
Median comp (vs. FAM)
100% 70% 60% 50% 80% - 120% 40%
When We Are Free to Do As We Please We Usually Imitate Each Other
(1) Service Outputs Supplied: the key elements of the customer value proposition (2) Recency, Frequency, Monetary (RFM): analysis to determine the optimum call frequency (3) Critical sales event: a sales opportunity driven by external circumstances
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It starts with thinking about utility instead of products
−
The hard part is not designing a service based business model, the hard part is letting go of your history
that you own
account relationships)
transactions
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Get into the different groups (you already know what the other guys will say) but choose the group leader based on who has the most years of experience as a manufacturers rep The role of the group leader is to ensure that everyone weighs in with their own views and that the group stays on track and consider these statements and questions
lack a clear answer and how might the rep firm be able to help?
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Morning Session 11:00 to 12:30
Lunch 12:30 to 1:30 Afternoon Session 1:30 to 3:00
Whether you are a current or potential future owner of a rep firm you are going to have a wind at your back with growth for the next decade
(There are several acquisition targets in this room today) Success will be about doing new things, not doing the same old things better, so commit yourself to some real self-development.
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1.To improve a system, first understand the system 2.A system is a whole, which is defined by more than just the sum of the parts but rather the product of its interactions 3.If you only apply analysis to a system you take it apart and it loses all its essential properties, and so do its parts
Understand your firm as a system
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Left to their own devices and without a systems approach, the result is sub-optimization Human Nature is to value what we do and thus improve upon it via discretionary efforts You would never improve the quality of one part of a system without also simultaneously improving the quality of the whole
Beware of Independent Actors
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Picking Consolidation Packing Shipping
Maximum facility throughput
Pricing Customer Service Inventory Availability Delivery
Maximum sales
Either fix the constraint or manage the system around it After you address one constraint a new one becomes critical
This is a fatal flaw analysis that must be part of your proposal
Travel Salary Supervisor Relationship Job Responsibilities
retention
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Attack it with non-recurring investment to gain recurring benefits
Sales Income
Symptoms:
Invest to build a process using technology to decisively fix it You pay the money once and get the savings forever
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Day 1 ‘vitality’ is like an organization’s startup and growth phases
Day 2 is the spiral of decline. “Day 2 is stasis”
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How can you possibly know what you would do while under constraints, if you don’t know what you would do with out any constraints. Begin with the 80/20 rule Then ask WHY? or How Might We?
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http://www.mckinsey.com/insights/innovation/disrupting_beliefs_a_new_approach_to_business- model_innovation?cid=other-eml-ttn-mip-mck-oth-1509
4 Areas Of Focus 1. Innovating in customer relationships: From loyalty to empowerment 2. Innovating in activities: From efficient to intelligent 3. Innovating in resources: From
4. Innovating in costs: From low cost to no cost
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and direct cost savings, strategic sourcing versus procurement
lead them into an adjacent market niche
Think About Distributor Channel Partners and End Users How would your customers rate you on these factors?
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you know 3 to 5 times more than your supplier principals
built on Google alerts and clipping services Call reports are the closest thing for a sales rep getting a Pulitzer prize in literature
principals and downstream users
competitive offerings
tier commission rates, monthly retainer fees for services, & year 1 booster rates 90% Of Rep Firms Do Not Do This Well
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The senior rep firm exec should first staff to their greatest personal weakness
As you gain scale most tactical decisions are made horizontally with concurrence between any two functions and finance A significant portion of the incentive compensation for this group in on the results of the complete firm, not just their function and they have financial visibility into the firm
1- Sales 2 or 3- Marketing 2 or 3- Operations 4- Finance
Responsible for customer facing activities Responsible for supplier facing activities Responsible for rule making and all internal decisions around process Responsible for defining when and how much and what will be generated Outside sales, inside sales, product specialists, zone or market managers Product marketing, supplier relationships, pricing, market analysis, promotions Order management, warehousing, IT, facilities, data and phone, logistics, project management Accounting, treasury, audit, investment analysis, policy and procedures Customer share of wallet growth and customer base broadening Supplier market share growth, annual planning, building the best line card Warehousing, security, HSE, quality Policy compliance, cash controls, effective planning and controls
All are responsible for revenue growth and net profit performance (each may have house accounts)
This Starting Point Helps You Get Clear On Who Owns Any Problem They can all be partners with various ownership percentages from 1% and up
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With less than 5 field sales reps per rep firm your options are limited, but…
Some customers (think house accounts) only want an inside sales rep
rep into it Add a pure hunter or a specialist or any of the other roles
Measure and manage their growth responsibilities explicitly
your sales management process Perhaps territory size and tenure shouldn’t be the key income drivers Your Size Is a Great Excuse to Do Nothing and Is the Most Common Choice
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Get into the same group but choose the group leader based on who has the fewest years of experience as a manufacturers rep
The role of the group leader is to ensure that everyone weighs in with their own views and that the group stays on track and consider these statements and questions
to additional training (you will be surveyed after this session)
WWW.IRCG.COM INDIAN RIVER CONSULTING GROUP 71
None of us live forever and old men always stay too long It is a great time to sell between now and 2019 to 2020 if you want out
developing a good story and sell in 2019
If you always hit your growth targets, or at least are ahead of the other rep firms in the market, you remain strong at line extension introduction, AND you are an effective and valued partner in your principal’s change processes then “…yours is the earth and everything that is in it”
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Discuss the questions below making sure that everyone on your team expresses their own views.
Everyone write down your assessment of your firm as it currently exists on a 1 to 10 scale with 1 being a pure lifestyle play with long tenured and loyal sales reps and a 10 being a professionally managed firm with high productivity and use of analytical data. Then give your score, folded up, to the least tenured member of your group.
the average
be in five years if you don’t change anything and the least tenured member provides the same values
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These books are focused on improving where you are today These books are focused on where you need to go