This week Gloria set up another complex deal that started on LinkedIn. Our client was a cyber start up and they had interest from a near shore telecommunications company.
Then through a series of calls and technical due diligence, the deal moved forward. The vendor had the technology. This company wanted the technology. They reached out to the vendor and the vendor dropped the ball.
Gloria and Ed discussed the time frame of this deal (several months) and discussed what happened from a sales perspective.
Ed discussed surgical selling and what happened when he set the meeting with the CEO.
At this point it had all the elements of a deal, desire, fit, etc. Ed and Gloria break down when the deal stalled, why it stalled, and how it got brought forward again.
Ed discussed how he had to make sure he nailed it and was able to articulate how we could help them.
Ed and Gloria break down how when they articulate their vision and your solution is a part of that vision, you have a deal.
Ed and Gloria talk about how the deal grew in scale and scope and how the deal had to be structured then, the deal got huge.
Gloria and Ed discuss how it moved from the possibilities to potential which is a big distinction.
Yes, it could have got stuck around pricing. But more importantly, the deal could have got stuck.
Ed also provided a tip and talked about not missing the pivot point and if you do, the deal can get stuck.
Ed and Gloria discuss the pricing and points the deal could have died due to a lack of understanding of the new pricing model which is tied to his strategic initiatives. It was about how the CEO of this telco company was thinking, How do I integrate this technology so that I make the margin that I need to make so that it’s aligned with my strategic initiatives for growth down the road.
Stay tuned for next week where we break down the pricing model and how this one actually will make both parties more money.
Gloria covered this article which discussed the “Hamburger” method for tech start ups to gain sales traction quickly: https://techcrunch.com/2021/05/13/the-hamburger-model-is-a-winning-go-to-market-strategy/
The article alludes to product lead growth, that your customers really have to love what it is that you’re building. And if they do love it, you’re headed in the right direction. The article discusses a tipping point because you have to expand sales.
“The best go to market strategies for startups are like hamburgers, the bottom is the bun, – your bottom up go to market. The burger is your product and then the top bun is the enterprise sales. ”
About the Hosts:
Edward Golod, Founder & CEO of Revenue Accelerators, and co-Founder of Technical Thought Leader (.com). Ed is a C-Suite Sales, Marketing & Value expert, as well as the revenue architect for clients in three continents and 10+ countries. Ed has personally been responsible for closing $265M in Enterprise sales throughout his career and has grown two startups, had two exits, and grown on to $40M. Ed regularly is renowned for his unique ability to create, articulate and leverage executive and value-based messaging that has reached the C-Suite at Fortune 100 companies, creating new opportunities at Viacom, JPMC, Citicorp, Cablevision, Voya Financial, HBO, Lowes, Under Armor, Dicks Sporting Goods just to name a few. Ed’s sales systems have generated $100’s million of dollars and $3.4B in value for him and his clients.
Ed can be reached at ed@revenueaccelerators.com or on LinkedIn: www.linkedin.com/in/edwardgolod
Gloria Gunn is the CEO of TechnicalThoughtLeader.com and has personally developed thought leadership selling strategies for technology companies that have been responsible for 7- figure deals. Gloria has personally had a front-row seat to over 1 million LinkedIn messages. Gloria’s businesses have generated over 8 figures by selling our products and services from LinkedIn. Clients, customers, & subscribers have successfully generated 10s of millions of dollars for themselves and their clients from our systems, packages, & products. Gloria also successfully positions her clients as experts with authority so that they can go upmarket and close real business.
Gloria can be reached at gloria@technicalthoughtleader.com or on LinkedIn: www.linkedin.com/in/gloriagunn