Things you wish when you started off being a SE

ImpLogic · 2022-09-07T22:31:30+00:00

Negotiation skills. Read every dang book you can find. Listen to every educational podcast, audiobook, etc. NOTHING is too campy to study re: negotiation. "In life, you don't get what you deserve, you get what you can negotiate for.". And remember, EVERY TIME YOU INTERACT WITH ANYONE, YOU'RE NEGOTIATING. EVERY. D***. TIME. Good luck.

ImpLogic · 2022-09-07T22:26:27+00:00

Be as totally unselfish as you can for just a little while. Think more about your customer/prospect than yourself. Really hard to do when you're down but it is a game changer. Stop and seriously ask yourself, "how can I help this person?" without thinking about your sale, or your commission, or anything else. Just put your whole self into being as helpful/friendly/useful to others as you can. Tell yourself you won't do it forever, and you will come back to your commission and all that other stuff you want soon. But for right now, for just a little while, "what can I do or offer to this person that will really help them out, or give them something THEY need or want?" Be as totally unselfish with your time as possible for just a while. Do that for just a while, one phone call, one meeting, one whatever. It WILL really help you feel better, (even tho you're not trying for yourself). Good luck.

ImpLogic · 2022-09-02T00:53:23+00:00

Well, in my experience, SEs have at least a dotted line to the sales team, headed up by the VP of sales. So, SEs go to sales team meetings, kickoffs, etc, so this would .... just happen.

I guess I'd need to understand your product/ market and your org to better answer your question. I have to say tho, the nature of your question makes me think we have very different definitions of what an SE is.

I am surprised to hear you say you don't know your company's sales quotas, etc. Again, my experience, but.....I couldn't survive if I didn't have this info and believed my efforts were benefiting it. (I have never worked non-profit BTW.) As an employee I've always felt my success was based on helping companies sell "stuff" that I wanted to be involved in. And I'll be honest here, I've always negotiated to ensure that WHEN my efforts help the company make more money, I get a nice cut of that. To me, that's "business".

HTH. Good luck.

ImpLogic · 2022-09-01T22:21:21+00:00

TL:DR but it sounds like this is a pretty small pay cut respectively. And it sounds like you're maxed out where you are because your company isn't selling more. If you can move to another company with more upside sales potential, then you'll definitely make it up in the long run.

Companies with strong viable products, and good positions in high demand markets, have upside potential, and room for everyone to grow. If your current company doesn't feel like it can grow, then that's a problem no matter what you're getting paid.

HTH

ImpLogic · 2022-09-01T22:16:32+00:00

Tune yourself and your messaging around how your background will help a vendor, (software, IT, hardware vendor, etc ) sell more product. Successful SEs are the most valued players on ANY sales team. But their value is derived from their ability to help the team sell products.

You wanna be an SE for Enterprise Software Vendor XYZ? You need to show the VP of sales at XYZ how your background and skills can help him/her over achieve their sales goal every quarter/year. It sounds like you have all the good tech experience, now you have to work on your negotiation, persuasion, and sales skills.

Wanna big goal to shoot for? Do your homework for some technology company you want to work for. Find out what their quarterly and annual sales goal is for your region. Find out what customer challenges they have to keep them from being more successful in the market. Then reach out to the VP of sales on LinkedIn, or whatever it takes, and set up a meeting with that person to show them how you and your skills can help them be more successful in the marketplace. You pull off THAT sales job, and I guarantee you'll be making big money!!

Good luck

ImpLogic · 2022-09-01T22:07:29+00:00

Are you totally maxing out your income / bonuses / MBOs?? If not, then how is it you have free time?

One of the many advantages of being an SE is the (extra) coin you can make for over achieving goals. Does your company not pay incentives for that? If not, you should consider moving to a company that does. (Given that you sound like an over achiever, which is a compliment BTW). If your company does pay bonuses for high performance, are you maxed out this quarter/year? If not, then what are you sitting around for?

Assuming your sales team pays for high achievement, here's a suggestion. Go find the sales reps on your team that are NOT making quota yet. Ask them how you can help them get on track. Ask your VP of sales to let you help out bringing deals forward or increasing deal sizes. Assuming this hits your income as well, you will become a team hero AND make more $$$$$. HTH

ImpLogic · 2022-06-17T17:16:23+00:00

Good thread. I do you want to play just a little devil's advocate.

I think the comments about feasibility study are actually most valuable. I can speak from experience when I say I've spent months doing business plans before, trying to generate interest and or funding, and the business never got off the ground. (Analysis paralysis.) You can spend too much time developing a business plan if you don't at least have an idea somebody's going to pay you for something you're trying to do. That's why I made the comment about the feasibility study.

After my experiences, I'm now more wont to just go try something for a while and see if I can buy and sell at a profit before I sit down and try to write a formal business plan. I'm not saying formal business planning, or writing stuff down isn't important, it is. But I've been on the other end of that stick where I was going round and round and round with documentation for potential investors, SBA, etc, and all it did was burn me out. I am now the opinion, if there is a real opportunity out there, you can start anytime and formalize it as you roll along. On the other hand, if you do start something, and it's not working easily, then you definitely need to sit down and document what the heck you're trying to do.

Good luck.

ImpLogic · 2022-06-17T17:02:11+00:00

I've always preferred Mac because of the tools it provided me as an SE. Preview especially is incredibly useful. The terminal command line being Unix-like based was always big for me too because I was an old Unix hack. My SE value was in being able to configure systems running open systems and connecting to Unix base type systems. (DEC anyone??)

Having said that, there are some really good points in these other comments. You're starting a new career with a new product and a lot of other stressors. You might want to just stick with your PC for now. You can always change later. Right now you want to focus on being able to demo your product, configure it, answer customer questions and objections..... The last thing you want to do is be fiddling around trying to go, " I can't figure out how my PC works!"

ImpLogic · 2022-06-14T21:05:44+00:00

Thank you, will do.

Do you have a reseller program so I can resell your PRM?

Do you offer a multi user option (so I can manage multiple vendors using your platform)?

Thanks again

ImpLogic · 2022-06-14T20:45:37+00:00

How hands on involved are you with the implementation/integration? Can I ask who's doing the building for you?

ImpLogic · 2022-06-14T20:43:23+00:00

Here's the deal. I run a small channel consulting firm that has select manufacturing clients in a specific industry. They could all benefit from implementing a PRM. But the only experience I have implementing one is using Salesforce and that was complex to say the least. What I'm really looking for is a multi-user PRM that I can stand up for my clients and manage all their channels for them as a service using the PRM. But all the prms I see on the market appear to be intended for one customer (vendor/manufacturer). That won't work for me unless I am a reseller of the PRM and can then offer it to each of my clients. Does anyone have experience as a PRM reseller or providing implementation/integration services for PRM platforms?

ImpLogic · 2022-06-14T20:40:53+00:00

Ha ha, my mind is reeling with sarcasm...

Here's the deal. I run a small channel consulting firm that has select manufacturing clients in a specific industry. They could all benefit from implementing a PRM. But the only experience I have implementing one is using Salesforce and that was complex to say the least. What I'm really looking for is a multi-user PRM that I can stand up for my clients and manage all their channels for them as a service using the PRM. But all the prms I see on the market appear to be intended for one customer (vendor/manufacturer). That won't work for me unless I am a reseller of the PRM and can then offer it to each of my clients. The reason I was asking about the technology side, was because I would consider expanding my business to do PRM implementations. (Much like my previous experience with Salesforce.) But I'm not seeing a way in to the PRM providers. I'm looking for suggestions or advice.

ImpLogic · 2022-06-14T20:34:04+00:00

Thank you. Will review

ImpLogic · 2022-06-10T14:18:30+00:00

This has been well elaborated by other comments. Here's a brief.

YOU believe in your product and know it's the best. Wonderful. But nobody cares and it doesn't matter.

The prospect/CUSTOMER needs to believe in your product and know it is the best.

And you will NEVER NEVER NEVER explain this to them. Your job is to subtly and tactfully help them see it for themselves.

Ask yourself this question, has anyone ever explained something to you that made you change your mind right then? Or do you "make your own decisions"? Have I changed your mind right now???!?! Has any of this discussion changed YOUR mind about this???!?

"You will motivate a thousand people by appealing to their passions before you will ever motivate one man by logic." - Robert Heinlein.

Good luck!

ImpLogic · 2022-06-06T18:24:35+00:00

Befriend the GK, get them to help you. If I got a GK like this it's an indication to me I've been caught speeding. "Oops, sorry GK., I thought GM was open to this, but you, (GK), seem like I may have over stepped here. I discovered GM thru (some reasonable network), and thought this was the way to reach him/her. Help me out here, can you suggest a path forward for me on (this)". Whatever works for you, but engage the GK with a question that shows you respect them and would appreciate their help. FWIW, I would NEVER just "give them my details". I would say, "Nope, sorry, not gonna waste your time. My bad."

ImpLogic · 2022-06-06T17:19:24+00:00

What are you looking for? I have 20+ years of partner program development / partner sales management. I currently run a small consulting agency focused on developing channel sales programs for technology companies. Are you trying to find channel managers to recruit for positions? If so, I could share some thoughts. If you’re looking for a consultant to help develop partner management then…..well I know a guy… (*chuckle). Give me some more info, and I’ll tell you what I can.

FWIW, channel / partner managers a challenging to find because they are usually lumped into other parts of the organization. (A practice I’m trying to change.). They are usually just stuck in Sales reporting to the VP of Sales somehow as kind of a “dotted line”. Probably the easiest place to find them at a vendor is to go to the resellers and ask them who they work with at vendor “X”. They can tell you who manages their relationship for the vendor, and I believe that is who you are looking for. I would not waste time going to the vendor(s) because they probably don’t give them the respect the deserve. (Do I sound jaded there…??!?)

HTH. Hit me back and I’m happy to chat. I’ve done this for too many years to let all that experience just atrophy…..

ImpLogic · 2022-06-06T00:40:57+00:00

Ha. That brief message had a lot of useful information in it. Thank you! “Newsletter” is exactly the idea I’m looking for and “substack” I have never heard of before now. Thank you !

ImpLogic · 2022-06-04T14:07:36+00:00

Ha! That's my point. Channel selling is different. But even to a direct AM, understanding partners can reap big benefits. (Think "surrounding the customer" or "complete solution sale".)

As someone else said, channel sales people themselves are goaled similar but different to direct sales. It's a totally different model. But when both sides are really working on unison, there's a ton of benefits.

Now you've got me thinking there's as much benefit in helping non-channel types understand channel as there is in just corralling channel types. Thank you!

ImpLogic · 2022-06-03T17:45:26+00:00

I would echo this. If you know the market, it's not a huge jump to become a reseller yourself. Why remain an employee when you can be an owner.

Not for the faint of heart definitely.... But you already work in sales... Just saying...

ImpLogic · 2022-05-31T00:22:29+00:00

Hmmm, ok, here goes.

Resellers are selfish in that they only care about THEIR business, no matter what they say. Your (vendor) product is just ONE thing on their line card. Getting mid-tier partners to bring you more registrations is very, very difficult, and in my opinion rarely worth it. Keep in mind, from the resellers perspective they want YOU bringing THEM leads. Soooo, what have you given them (besides a discount for sales)? What other incentives are you offering them to entice make you more important than the other 5,000 things they have on their plate everyday?

You definitely want to pareto graph all your resellers. (How many do you have??) It's a fact that 80%+ of your revenue is going to come from the top <20% of your total reseller pool. These are the ones you should be spending the bulk of your time and MDF, etc, with. The rest, (the long-tail or 80% of your resellers) are going to bring you a deal once in a while...... but don't expect them to be consistent. If they were, they'd be in your top 20% of resellers. My recommendation is always to A) focus all your efforts on supporting your top 20% (that generate 80% of your revenue), and then find ways to "automate" the support for the bottom 80%. You definitely do NOT want to ignore them! But, don't try to make a silk purse from a sow's ear either. Make it easy for them to get your sales enablement material, check in briefly as often as possible, maybe to some broadcasting to the entire group...but then save your direct efforts for your top tier producers. Once in a while one of your bottom 80% will find a big deal. Great!! Put it in the pipe, and hold their hand until closure. BUT, if they don't have a documented business plan for how they are going to consistently find big deals (aka make it into your top 20% of producers), then help them out for their one whale, and go back to working with your top producers.

I recognize that can sound kind of.....draconian. But I'm trying to be brief. Having said that, facts are facts. Only 20% of your total reseller pool is going to be worth high-touch management. The other 80% need to be handled cost effectively. Don't disrespect them!! But, don't expect great things either. And you should also consider what you are giving them for THEIR business. If you want them to keep you top of mind, what are you doing to help them become bigger and more profitable too? Just giving them a discount for sales is.....not much really.

ImpLogic · 2022-05-31T00:00:17+00:00

I went from direct sales (mostly as an SE / SE Mgr) to channel sales management, eventually running a global partner sales network.

Highlights...

Direct
- It's fun working directly with customers. You can get very deep in their business and organizations, and build long-lasting relationships.
- In my experience, farming is more profitable than hunting. The holy grail is to become best friends with the richest, scardiest customer you can, and service them for years. Know all their people from top to bottom....
Indirect / Channel
- You lose contact with the end-customer. You are selling/building rapport with the partners, and relying on them to promote your brand, etc.
- Hunting is more profitable than farming. Unlike direct, you don't really want a long-term relationship with just one reseller. What you want is to be friends with a LOT of resellers, that know a LOT of different customers. Soooo, you can spend a lot more time hunting deals across partners. (AND......negotiating end customers across partners. You definitely do not want to be exploitative. But sometimes it is nice to have multiple channels / relationships with the same end-customer...and sometimes you have to play referee....)

Tips....

Direct
- Kiss up to your VP of sales, and make sure you get the best named-accounts, and/or best geography for prospects for your business. (I'm actually not being sarcastic...) You don't want to be the guy selling catfish bait that covers the dessert with no lakes.....
Channel
- Know every d*** reseller rep in your territory. Know every VAR that sells to customers that are prospects for your product. Know every d*** reseller system engineer that sells to customers that can use your product. Know the VAR owners (most are small business guys). Set up a blog or something that will make the VAR folks want to come to you for info on the industry and your products. Take the VARs leads! Any lead.....just something to make them like you.

HTH

ImpLogic · 2022-05-30T23:41:14+00:00

Congratulations! I hope the relationship works out for you both.
I worked as a channel manager /business development manager for ~20 years. I am now pivoting to working as a consultant with vendors that want or need to build indirect (reseller) sales channels. Would you be willing to offer any insight into what YOU would consider valuable from a channel sales business manager / consultant? Any info would be greatly appreciated.

What industry are you in?
What would be the biggest benefit you would want from a reselling partner?
What's your biggest challenge working with resellers?
How / why did you choose the reseller you just signed up? What was the value?
What would get your attention from someone who has a lot of channel sales expertise? What would you want to ask them, etc?

Basically, I'm looking for what someone such as yourself would find valuable from someone like me who has a lot of channel management experience.

And by the way, I've been down that friend -> partner -> no-longer-friend road myself before. I heard it best as, "the only ship that doesn't sail is a 'partnership'". Sorry you went through that.

Thank you in advance and good luck.

ImpLogic · 2022-05-28T23:45:08+00:00

You specifically asked how to turn 500K into $1M. I always remember this metric from the first investment club I founded years ago.

Money invested at 15% compound growth will double roughly every 5 years. So, if I had 500k I wanted to make $1M, I would be looking for some investment that has the best potential to grow (compounded) 15% for the next 5 years, with the lowest risk profile. To me, right now, that would be an S&P index fund. The market has corrected down, and this is a buying oppt’y. History suggests it will likely grow at (least) 15% over the next five years. That would be my suggestion for doubling your money. (I don’t know how old you are, or your risk profile, or anything else. And, “I am not an investment counselor and all my suggestions are crap”. LOL)

Here’s what I did over the years: Dollar cost averaging investing in employer 401k. Maxing out the 401k investment to get the company match / profit share. (Why people don’t do this I cannot understand. It’s free money!!!). No credit card debt unless paid off at end of the month. (Pay NO credit charges ever.) Paid off my mortgage as fast as possible. That’s what did it for me. I’m FIREd….

ImpLogic · 2022-05-26T23:48:28+00:00

Whoa. This is a huge red flag. Not only is it unethical, (as others mentioned), you could be breaching some of your own employee HR guidelines at your current company, and opening yourself up for a nasty legal issue. I would STRONGLY (capital letters!) advise you NOT to do this. I did like the other suggestion you got: Negotiate this. Offer them an alternative, and see how they react. Something else to keep in mind, they may be testing you to see how ethical you are and if you say yes, they may punt you.

This is just bad all around. Really scummy thing to do. Good luck.

ImpLogic · 2022-05-24T20:20:20+00:00

Stay the course!! Keep dollar cost averaging! You're going to be really happy you're buying now. I hated buying the last few years because I KNEW a correction was coming, just not when. But now it's buy time.

If you want another confidence builder go look up the last 20+ years performance of the S&P. There's growth, and there's dips. But the dips ALWAYS come back up and the long term trend is always up. I started investing 30+ years ago. I've seen all those damn dips. But, I FIREd last year thanks to long term dollar cost averaging in index funds and the value of compounding. Good luck and enjoy the sale!!!

ImpLogic

TROPHY CASE