6. Mike Slater focusing on qualification and pipeline management

In this conversation, Mike Slater discusses his journey into sales management and shares insights on what it takes to be a successful sales manager. He emphasizes the importance of being a great coach and developing strong relationships with team members. Mike also highlights the difference between skills and talent, stating that while skills can be taught, talent is innate. He advises new sales managers to focus on building relationships, finding mentors, and constantly learning and improving their craft. Additionally, he shares his thoughts on qualification and the use of methodologies like MEDPICC and deal scorecards. Mike discusses the importance of getting agreement from key decision makers and mobilizers in the sales process. He shares examples of deals where multiple versions of the business case were created to accommodate different decision makers. He also emphasizes the need for mobilizers (as opposed to “talkers”) who can make things happen and overcome obstacles. Mike highlights the value of regular pipeline reviews and daily check-ins towards the end of a sales cycle and to ensure deals stay on track. He suggests asking the question, 'What can stop this deal from happening?' to uncover potential obstacles proactively rather than being reactive too late down the road. Finally, he advises new sales managers to focus on performance management, coaching, and building a healthy pipeline.

Key Takeaways

·      Being a great coach and developing strong relationships with team members are key traits of successful sales managers.

·      Talent is innate, while skills can be taught.

·      New sales managers should build relationships with team members, find mentors, and constantly learn and improve their craft.

·      Qualification is crucial in sales. Using methodologies like MEDDPICC and deal scorecards can help in effectively qualifying deals.

·      Creating multiple versions of the business case can help accommodate different decision makers.

·      Mobilizers are essential in making deals happen and overcoming obstacles.

·      Asking 'What can stop this deal from happening?' uncovers potential obstacles.

·      New sales managers should focus on performance management, coaching, and building a healthy pipeline. Make quick decisions when it comes to hiring and firing salespeople to avoid wasting time and resources.

·      Set realistic milestones and assess performance early on to determine if someone is a good fit for the team.

·      Appreciate the customers buying dysfunction & coach customers on how to buy and engage with everyone in the buying center.

·      Don't hold onto underperforming team members for too long; it's better to have a hole in the team than an underperforming individual.

·      Focus on one key improvement area when coaching salespeople to maximize their performance.

Sound Bites

"You can give people skills, but you can never give them talent."

"26 versions of the business case and it wasn't that we got it wrong 25 times. It was because we took the business case to 25 or 26 different people and they all tweaked and therefore co-authored the business case!"

"A champion is a true mobilizer. So I use the term are they a mobilizer or just a talker? Now, a talker will be super positive, but they will never get your deal done. Whereas a mobilizer makes shit happen, right?"

"The cost of not making quick decisions."

"A hole in the team is better than having an asshole in the team."

"You get better performance out of spending time with your best people than with your not so good people."