What Is an Outsourced VP of Sales?
An outsourced or fractional VP of Sales is an expert – experienced in selling and sales management – who can help an organization improve its sales strategies, sales processes, sales tools, and sales systems in order to drive revenue growth. They are a proven sales leader who dedicates a portion of their time each week to a client. They bring a depth of sales management experience and build the sales infrastructure needed to be successful now and into the future. Outsourcing your VP of Sales is often a smart way to bring world-class resources into your organization in a cost effective way.
Perhaps above all, an outsourced VP of Sales is often an ideal solution for companies looking for world class sales talent to help build the sales strategy and infrastructure necessary to achieve the next level of growth.
What Does an Outsourced VP of Sales Do?
Every client engagement is different, so the duties of an outsourced VP of Sales can vary somewhat from one client to the next but often includes the following:
- Developing a sales strategy that supports overall revenue growth goals
- Creating or revising sales compensation plans to optimize motivation and performance that deliver results
- Establishing essential sales goals, relevant metrics, and qualified sales forecasts
- Reporting on and analyzing sales performance
- Selecting, customizing, and fully leveraging a Customer Relationship Management (CRM) system
- Assisting with or managing sales recruiting, hiring, training, and onboarding
- Documenting and implementing a defined sales process
- Holding the sales team accountable via weekly team meetings, coaching, training, and corrective-action plans
- Assisting management with initial – and often, continuing – oversight of implemented sales management programs
Why Might You Consider Hiring an Outsourced VP of Sales?
Companies hire an outsourced VP of Sales to help improve sales and drive revenue growth. Other key reasons to hire an outsourced VP of Sales include:
- Acquiring deep sales leadership experience for a fraction of the cost of a full-time sales leader
- Gaining an essential outsider’s perspective to create or improve and document sales strategies, plans, processes, and operations
- To temporarily fill a sales management or sales leadership role
- To audit current sales strategies and methods
- To assess sales personnel and help management make key decisions regarding internal resources
- To integrate, adapt, and implement industry best practices
The Bottom Line:
Author Marcel Proust once noted that “The real voyage of discovery consists not in seeking new landscapes, but in having new eyes.” An outsourced VP of Sales brings fresh perspectives that empower an organization to play to its strengths, overcome its weaknesses, capitalize on opportunities, and overcome obstacles – all as it drives toward essential revenue goals. What’s more, the financial rewards of using a skilled and experienced outsourced VP of Sales almost always surpasses the initial cost and continues to yield long-term return on investment.
Dave LaBudde is the President of Competitive Edge Sales Solutions, a sales leadership best practices company dedicated to achieving revenue success for its clients by leveraging Sales Xceleration’s turnkey solutions along with 25+ years of sales leadership experience in diverse industries.
Read MoreA Listing Agreement is More than Just a Piece of Paper
In order to sell one’s business using the services of a business broker, a listing agreement is almost always required.
For the owner of the business, signing the agreement legally authorizes the sale of the business. This simple act of signing represents the end of ownership. For some business owners, it means heading into uncharted territory after the business is sold. For many it also signifies the end of a dream. The business owner may have started the business from scratch and/or taken it to the next level. A little of the business owner may always be in that business. The business, in many cases, has been like a part of the family.
For buyers, the signed listing agreement is the beginning of a dream, an opportunity for independence and the start of business ownership. The buyer looks at the business as the next phase in his or her life. Pride of ownership builds.
So, that simple piece of paper – the listing agreement – is the bridge for both the seller and the buyer. The business broker looks at that piece of paper through the eyes of both the buyer and the seller, working to help both parties progress through the business transaction process into the new phase of their lives.
Read MoreWhy Use a Business Broker
A professional business broker can be helpful in many ways. They can provide you with a selection of different and, in many cases, unique businesses, including many that you would not be able to find on your own. Approximately 90 percent of those who buy businesses end up with something completely different from the business that they first inquired about.
Business brokers are also an excellent source of information about small business and the business buying process. They are familiar with the market and can advise you about trends, pricing and what is happening locally. Your business broker will handle all of the details of the business sale and will do everything possible to guide you in the right direction, including, if necessary, consulting other professionals who may be able to assist you.
Your local professional business broker is the best person to talk to about your business needs and requirements.
Read MoreSeize the Moment — Tips for Sellers (Option B)
If you have made the decision to sell your business, the wisest first move is to contact a qualified business broker professional, who can . . .
- Advise you on pricing and structuring the sale of your business.
- Prepare the marketing strategy, using professional resources.
- Determine the right buyer for your particular business.
- Educate buyers in the business-buying process.
- Keep you informed about market reaction.
- Present offers and point out strengths and weaknesses.
When it comes time to sell, one of the best decisions a business owner can make is to continue managing his or her business efficiently (and profitably), while depending on the services of a business broker to forge the steps of the sale. The business broker professional is an invaluable advisor during the entire process, offering both objectivity and negotiation skills honed through years of experience in the buying and selling of businesses.
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