VPVI-32:Prepositioning with a Purpose

Kathy Nanowski, CPSMFuss & O’Neill, Inc.

Agenda

1. Prepositioning - Sales Funnel Stages

2. Capture Plan

Differentiation

• Low-Cost Provider

• Innovative

• Client Focused

Be Amazon

The only way to separate your firm from

your competition is to show the client

you completely understand their needs

and wants.

Clients tend to award work to

individuals they trust, and they trust

who they know

Selling vs. Listening

• Presenting benefits first without understanding the

client’s concept

• Persuade

• Hoping they see a fit to their problem

Showing & Telling

Assuming a Need

Understand

(figure out their

problem)

• Understanding the client’s wants and needs first

• Inquire and listen

• Discussing alternative concepts that seem responsive to the

client’s wants and needs

Experience-based concepts often most appealing

Listen to understand

their problem

Alternative Solutions

Select Best (your

solution)

Selling vs. Listening

“Push” Approach

VS.

Investigative Approach

Showing, telling, persuading Asking, learning, exploring

Assuming a need Searching for a fit

Product and/or service-focusedFocused on the customer’s needs and wants

Doing most of the talking Doing most of the listening

Stressful, uncomfortable Relaxed, natural

Rowing against the tide Floating with the tide

Go-No Go or Proposal

Selling Funnel - Reactive

Awarded or Lost

Open Action/Ongoing

Selling Funnel - Proactive

Awarded/Lost/NoGo

UFOUnidentified Financial Opportunity

Proposal

Qualifying

Lead

Filling the Funnel

• The funnel implies selectivity &

prioritization

• Helps ensure that we use our

business development (BD) time

wisely

• Allows us to monitor and diagnose

our performance

“Q

ua

lifie

d” O

pp

ort

un

itie

s

UFOs + Leads > $1,250,000

$6 million/12 months = $500,000/month

“Hit Rate” = 40%

$1,250,000

The majority of our BD time needs to be

spent identifying UFOs and

qualifying leads!

UFO - Unidentified Financial Opportunity

• Characteristics

– Potential project may exist

– Hasn’t been validated by Client

– No specific scope yet

– Least amount of time invested

– Greatest number in the pipeline

• How to Find Them

– Observe your surroundings

– Newspaper

– Research

– Follow your experience

– Teaming Partners

– Networking Events

UFO

Lead

• Characteristics

– Potential project that does exist

– Validated by Client

– Lack technical specificity

– Unknown role of Key Players

– Unknown budget

– Beginning to invest more time

• How to Find Them

– Ask you Client about UFO

– Newspaper

– Networking Events

– Face-to-Face with Client

– Capital Improvement Plans (CIP)

Lead

Lead to Qualification

Quick Go-NoGo

1. Is there a project…… Yes or No

– Maybe and Not sure yet = No

2. Do you or your team have access to influencers at the

Clients organization?

3. Do you have enough time?

Qualification

• Characteristics

– Fewer Opportunities

– Most time invested

– Firm approved investment

– Project does exist

– Validated by Client

– Scope & start date formed

• How to Find Them

– Ask you Client about Lead

– Talk to Client

– Capital Improvement Plans (CIP)

Qualifying

Capture Plan Activities Stage

Sales Funnel

Awarded/Lost/NoGo

UFOUnidentified Financial Opportunity

Proposal

Qualifying

Lead

Less Time Invested

More Opportunities

More Time Invested

Fewer Opportunities

May Exist

Does Exist

We are going after it

Use Help To Explain Various Stages

Filling the Funnel

Activity Purpose Funnel Stage

Networking• Establishing and maintaining relationships• Identifying UFOs (what might happen) and leads

Above the funnel (UFO and Lead)

Meeting• Maintaining and focusing relationships on business needs• Defining UFOs and leads (what will happen)

Above the funnel (UFO and Lead)

Capture Plan• Improve your chances of winning• Improve profitability and cash-flow• Increase levels of client satisfaction

In the funnel (Qualification)

ProposalUse of the information gathered through networking, investigation and qualification to most effectively serve the needs of our clients

In the funnel (Proposal or No-Go)

Submission

Results Debrief – We Won We Lost Through the funnel:• Lost• Awarded

Track your Future Backlog

Successful sales organizations spend the majority of their time identifying UFOs and leads and

selectively qualifying those leads. Selectivity in-turn reduces volume while increasing the amount of

residual time and attention that is available to invest in fewer opportunities that have the potential to

truly “move the needle”.

Capture Plan

Pursuing the Right Deals

• To increase your probabilities of success, you will want to pursue:

– Clients who want to do business with you rather than clients you want to do business with.

– Projects where you excel and clients recognize your expertise, rather than projects you’d like to have.

• If you are proactive, you will find many such opportunities and your closing percentages

(hit rates) will be greater.

Introducing A Capture Plan

Capture Plan Thresholds

When should I do a Capture Plan?

• It’s a significant opportunity

• Big dollar sale

• Strong competition

• Lots of confusion or uncertainty

• Reorganization within the client’s organization

• Well before an RFP hits the street

Define the Project

• Project Number

• Who is the client? Be specific

• Value

– What is the value of the project?

• Project Start Date

– When will it close?

Opportunity Assessment

• Position Vs. Competitors

– Front Runner, Equal, Unknown

• Confidence In Winning

– Excited, Secure, Comfortable, Okay, Concerned, Worried

• Client Relationship

– Strong, Ok, Weak

Opportunity Description

• What specifically is the service?

• Has it been fully defined?

• Just the facts

Key Players in the Project

• Name and Title

• Influence

– Controls $$

• Sometimes the Ultimate Decision Maker

• Role: final approval, releases $

• Focus: bottom line and impact on organization

– Technical

• They use the services or may be in charge of those that do

• Role: judge product impact on the job

• Focus: the job to be done

– Coach

• Wants Only Your Services

• Role: give data, guild to other decision makers

• Focus: your success with this proposal

Degree Influence & Internal Contact(s)

Degree of Influence

– Varies for each project/sale (H,M,L)

• Internal Contact(s)

– Team sport

– Rely on your internal coworkers

Factors Impacting Key Players

• Project Reason – Why does s/he want this project?

– Boss said to do it!

– Self promotion or survival - It’s my job!

• Expected Results– What outcomes does s/he want and how does s/he want it done?

– What is considered success

– On Budget or by set date

• Key Issues – What problem are they trying to solve?

– Measurable, tangible, quantifiable, benefits and features that this person wants

– Performance Spec – Easy to operate, easy to manage, low maintenance

– Technical Spec – Completed in 300 days, $50,000 budget, 4 Pumps

Other Information

• Relationship Background – How well do we know them?

– How Many Years

– Strong Relationship or Just Beginning

– Can you Ask them anything?

• Other Helpful Information

– Relationship with Selection Board

– Experience with other companies

– Which consultants do they typically work with?

Key Players Screenshot

Competition

• Find out who they are

– Strengths, weaknesses and if they are the incumbent

– What actions can you take to weaken their position

• #1 Action = know the clients needs and wants better then they do

Build Your Team Early

• Enough time to ask Client who they like

working with

• Introduce teaming partners to the client

• Who is the competition using, counteract

advantages

• Select Team that could improve probability of

winning

Issues & Questions

• Critical Information that is missing or

unclear

• New or uncontacted people involved

• Uncertainty about any information

This should create a possible action

Strengths

• Areas of differentiation

• Must be relevant to the current opportunity

• Lessen price sensitivity

• Unique to the competition Opportunities used to improve position

Information Needed

What do you want to know?

If you could get any question answered, what would those questions be?

– Who do you like to work with

– Who do you not like to work with

– Who else will be part of the decision

– Will there be an interview, is it the same decision makers

– What is your budget

– When is your estimated start date

– What should we avoid in our approach

– Is there a DBE or MBE/WBE requirement

– How would this project exceed your expectations*

If you have an approach in mind, share it

Actions = Activities

• Most Important Part of the Capture Plan

– Who is doing what, by when, to find out what?

– Acknowledge Issues and Questions

– Identify Strengths

– Create actions to leverage strengths and to eliminate problems/issues

• Activities created when using Vision

– Sends reminders

– Capture Plan owner knows if and when it was completed

– Other activities can be added anytime

– Client Account Management added benefits

Capture Plan Guide

Examples of Issues & Questions

• Lack of information

• New players

• Poor past history with client

• Competition relationship with client

• Poor product/service/support fit

• No coach

• Unknown needs and wants

• Project start date to soon

• Confusing an information giver with a coach

• An unclear opportunity

Examples of Strengths

• Solid past history with the client

• First consultant to identify the needs

of this client, so you influenced the RFP

• Understand needs and wants of the Controls $$ Player

• Product strengths, fit to need

• Have a coach

• We are a Front Runner

Ideas for Other Possible Actions

• What would it take to develop a coach

• Is there an action for every Strength and every Issue?

• Does every action leverage a Strength or minimize a Issue?

• What reasons could lead to the close date being postponed?

– What can you do before that happens?

• When should the Opportunity Plan be reviewed again?

• Should the Capture Plan be reviewed with your coach for additional

coaching?

Closing Remarks

• Pursuing opportunities in multiple stages of the sales cycle provides the high beams to track your

future backlog

• Capture plan should be developed for key projects

– Capture plans are living documents

– When done with first meeting schedule your next one

• Create your capture plan in Vision

– Easier to fill out due to multiple data sources

– Track action items

– Part of database

• More information = Robust CRM system

.