How to Hire Your First Salesperson, Five Reasons to Start With Account Management
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Many MSP business owners and leaders struggle with hiring and empowering their first successful, quota carrying salesperson. Ted Hulsy and David Birk, partner at Network Doctor, share their views on why MSPs should focus on Account Management.
How to Hire Your First Salesperson, Five Reasons to Start With Account Management
- 1. How to Hire Your First Salesperson: Five Reasons to Start with Account Management Ted Hulsy VP Marketing, eFolder ehulsy@efolder.net linkedin.com/in/tedhulsy David Birk Partner, Network Doctor
- 2. Agenda 息 2017 eFolder, Inc. All Rights Reserved.2 Partner Introduction Five Reasons to Start with Acct. Mgmt. Questions and Discussion
- 3. 息 2017 eFolder, Inc. All Rights Reserved.3 Partner Introduction Five Reasons to Start with Acct. Mgmt. Questions and Discussion Agenda
- 4. David Birk Partner, Network Doctor Partner Introduction Founded in 2003 40 employees serving the New York City and Los Angeles metro areas 150 clients, between 20 and 200 users 息 2017 eFolder, Inc. All Rights Reserved.4
- 5. 息 2017 eFolder, Inc. All Rights Reserved.5 Partner Introduction Five Reasons to Start with Acct. Mgmt. Questions and Discussion Agenda
- 6. #1 Clients are like icebergs 息 2017 eFolder, Inc. All Rights Reserved.6 Initial agreement Projects, upsell, cross-sell and technology innovation Best Practice: thoroughly document all products, services, and SLAs before hiring any quota carrying sales staff
- 7. #2 Farming is easier than hunting 息 2017 eFolder, Inc. All Rights Reserved.7 70% of companies say its cheaper to retain a customer than acquire one* * http://oursocialtimes.com/70-of-companies-say-its-cheaper-to-retain-a-customer-than-acquire-one/ Best Practice: hire Account Managers as your first quota carrying, non-owner staff; have principals keep hunting new accounts
- 8. #3 Client retention is the key to value 息 2017 eFolder, Inc. All Rights Reserved.8 Best Practice: MSP AM Comp Plan: $40k base $40k base 2% of MRR $60k variable ($250k MRR) 10% GM of product $8k ($80k product GM) 20% GM of project labor$12k ($60k labor GM)^ http://www.slideshare.net/500startups/institutional-venture-partners-jules-maltz/30- 30Cohort_Revenue_Negative_ChurnSource_Model ^
- 9. #4 Client satisfaction needs sales process 息 2017 eFolder, Inc. All Rights Reserved.9 QBRs must be quarterly to be called QBRs. Best Practice: Account Managers quarterback the whole client relationship and are responsible for coordinating QBRs and vCIO engagements; satisfaction needs process
- 10. #5 Master sales management first 息 2017 eFolder, Inc. All Rights Reserved.10 Sales management must be learned and perfected by the business principal; it is easiest with account management. Best Practice: hire a sales hunter only after you have one year of success managing an account manager who achieved 100% of plan
- 11. 息 2017 eFolder, Inc. All Rights Reserved.11 Partner Introduction Five Reasons to Start with Acct. Mgmt. Questions and Discussion Agenda
- 12. 息 2016 eFolder, Inc. All Rights Reserved.12 Questions and Discussion
- 13. Thank you! Ted Hulsy VP Marketing, eFolder ehulsy@efolder.net linkedin.com/in/tedhulsy
Editor's Notes
- #2: Hello. My name is Ted Hulsy. I am Vice President of Marketing at eFolder and your host for todays event. Welcome to the eFolder Partner Chat. This webinar series brings together leading MSP partners for business-oriented discussions. Today we are joined by David Birk, Partner at Network Doctor. David and I will discuss how Network Doctor built up a successful account management sales process to support their managed services business model.
- #3: Before we go through the agenda, lets cover a few house keeping items. Todays session is being recorded. The recorded version of the webinar will be made available on eFolders YouTube channel. We will also make copies of the slides available to those who registered for the event. With over 250 people registered for todays session, we have put all participants in listen-only mode. You can enjoy the audio portion of todays event by either streaming it on your computer or by dialing in over the phone. Questions are strongly encouraged throughout. We have planned a special Q&A section at the end of todays discussion, but you may submit as we go along and we will try to address your questions on the fly. Todays presentation follows a logical flow: David and I will walk through the five key reasons why you should start with Account Management when hiring your first salesperson. David will share his first hand experiences and best practices learned from their journey. Finally, we will finish with an interactive portion of Q&A.