| Ever since Al Gore invented the internet, you can | | | | Business Strategy versus an Innovator Strategy, |
| gather the background you need on companies in less | | | | versus a Right Sizing Strategy or a Sell the Service |
| time than it takes to make a cup of coffee. You just | | | | Strategy. It is important to understand what specifics |
| need to know where to look. There are a few key | | | | will allow you to recognize the various Profit Strategies, |
| things that you should do anytime you are going to call | | | | and how this impacts your sales strategy. |
| on a senior level executive. | | | | 4. Find out what causes the executive supports. Try |
| 1. Get the latest information. Since May of 1996, all US | | | | searching for your prospect by name by pulling on |
| publicly traded companies have had to file their annual | | | | Many C-Level executives sit on non profit boards, like |
| and quarterly reports electronically. Go to and pull | | | | the Division President that I was targeting in 2002. I |
| down their 10-Q's and 10-K's prior to making that phone | | | | queried his name on guidestar.org and found that he |
| call. | | | | was on the board of a certain charity. I pulled down |
| 2. Practice Fundamental Football. Use the information | | | | the IRS 990's and found that the organization had |
| you gather to understand your prospects industry and | | | | done quite well, and had some interesting strategic |
| its competitors. Using a concept called the Fast Five, | | | | initiatives. |
| you can, in the course of about five minutes, uncover | | | | 5. Prepare a C-Level pitch. In order to effectively |
| the key metrics you need to accomplish this | | | | present your analysis, you have to understand what |
| understanding. Some examples of what you are | | | | executives are like, how to get in front of them, and |
| looking for in these metrics include trends in net | | | | how to present your project so that is becomes |
| working capital, Cash2Cash cycles, and efficiency | | | | Secretariat, while the competing projects are seen as |
| metrics like revenue per employee and asset turnover. | | | | Mr. Ed. Speaking in terms of "hurdle rates" and |
| 3. Uncover their Profit Strategies - Value selling is | | | | sensitivity analysis will allow you to paint the picture |
| deader than disco. To sell your product in today's | | | | that will get your deal sold. Finally, if you don't have |
| marketplace, you have to align your value proposition | | | | board experience, you need to couch everything you |
| to your prospects Profit Strategies. Your approach will | | | | do in the spirit of the board of directors. |
| be different if your prospect is pursuing a Buy the | | | | |