Originally Posted on May 2, 2013 on the Force Management blog.
There are many organizations backed by venture capitalists that are clamoring to be leaders in their respective industry. We’ve worked with many in the high-tech space. Whether it’s articulating value and differentiation, hiring top sales talent or implementing an effective sales process, start-ups have unique challenges.
As the driving force behind these new businesses, venture capitalist firms are looking to create consistency, build on best-practices and drive results for their investments.
I like the way they think.
That’s why I often find myself reading some of their great insight in the blogosphere. Here are some of the most interesting posts I’ve come across recently. They’re too good not to share.
Use their tips. Read my thoughts. Share your own.
They’re worth the read.
1. 7 Tips to Ditch Bad Business Processes
As Mike Myatt points out, “One of the ways successful companies gain a competitive advantage is through creating process advantage.” I completely agree with his focus on mindset as a tip. Mindset is important and can be fully leveraged with a parallel focus on tools, process and content.
I partially disagree with is his “no Band-Aids” tip. While I agree that bubble gum and bailing wire are best used elsewhere, the reality of most fast-paced environments is that occasionally a Band-Aid on a minor boo-boo (comp plans) is a smart plan. The Band-Aid can allow you to focus your efforts on the double-bypass heart surgery (value-based sales methodology).
2. The VC World Returns to Its Operating Roots
Ben Horowitz comments on the background of VCs today resonated both because we work with so many VC-backed technology firms, and because our clients also feel like they can get great advice from Force Management because we have been down the same paths they have.
My only ‘tweak’ to the comment is that uniformity can be a crutch. If everyone on the team has the exact same background, you can easily miss out on the great insights that come from seeing a problem/solution in one environment and utilizing that same solution for a problem in a whole new area. Our 100-pound brain, Dave Davies, talks about “pattern recognition” as one of the critical skills for great consultants. It can be just as effective for those who are dealing with the growing pains of a new venture.
3. Through the Looking Glass: Hiring Sales People
Here’s another one from Ben Horowitz. The story about Mark Cranney is priceless … even more so since I have met him in person and can believe it is all true. To take Ben’s conclusion one step further, focus on a whole sales talent management system, like RSA did with us. You might also take a look at Force Management’s Cost of a Bad Hire Calculator to see how big your problem might be.
4. Is Customer Segmentation the Key to Your B2B Website’s Success?
This post reminded me of how a few Force Management customers have literally recreated their website based on the sales messaging created during their Command of the Message® implementation. MarketSource is one of the more recent.
Tom Martin is a 20+ year veteran of the sales methodology and training industry. He has a diverse set of global experience with sales (direct, indirect and inside), channel management, marketing, SFA/CRM, consulting, finance, legal, training, systems and operations. He serves as Force Management’s Executive Director of Operations