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The Revenue Maze

The Revenue Maze

Written by: The Revenue Maze
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 82% of businesses’ failure rate is due to cashflow challenges attributed to Revenue Teams dysfunction.Copyright 2022 All rights reserved. Economics Leadership Management Management & Leadership
Episodes
  • Adapting, Improving, and Thriving: The Keys to Success with Ever-Changing Sales with Mike Malloy

    Adapting, Improving, and Thriving: The Keys to Success with Ever-Changing Sales with Mike Malloy
    Nov 10 2023
    Mike is an entrepreneur who has had an adventurous and diverse career. As the former CEO of Waveborn Sunglasses, he had the opportunity to combine his love for travel, sales, and sports. During his time at Waveborn, Mike not only travelled the world as a sunglasses salesman but also pursued his passion for Beach Ultimate Frisbee. In 2015, he represented Team Kenya at the World Championships of Beach Ultimate Frisbee in Dubai, where Waveborn was also a sponsor. This experience allowed him to showcase his athletic skills while promoting his own business. Mike's days were filled with playing Frisbee on beautiful beaches and then transitioning seamlessly into selling sunglasses. This unique combination made for an unforgettable journey and a peak in his athletic career. Now, as a guest on the Revenue Maze podcast, Mike is excited to share his story and insights with others.   In this thought-provoking episode, Valerie and Mike dive deep into the intricacies of sales and revenue generation. They explore the importance of building trust, developing valuable relationships, and mastering effective communication techniques. With Mike's insightful anecdotes and Valerie's expertise as a podcast host, they unpack the complexities of the sales industry and offer valuable advice for navigating the revenue maze. Don't miss this engaging conversation between Val and Mike that is sure to leave you inspired and informed.   Key Takeaways   ~ Mike Malloy, founder of Malloy Industries, brings a wealth of experience and expertise as a management consultant, CEO, professor, and trusted advisor.   ~ Mike emphasizes the importance of building relationships and trust in sales, and shares strategies such as genuine interactions, sharing personal stories, and being relentlessly generous to add value and build trust upfront.   ~ The episode discusses the significance of understanding the decision-making process and meeting with all key decision-makers to increase the chances of closing a sale.   ~ Mike highlights the power of referrals in sales, as they eliminate mistrust and can lead to faster closing times.   ~ Continuous learning and preparation are crucial in sales, and Mike shares his experiences teaching different levels of skills, including email etiquette, meeting management, and an entrepreneurial mindset, to college students.   ~ The importance of communication is emphasized, with insights on effective questioning techniques, active listening, and adapting communication styles to build rapport and connection.   Quote of the show –   Effective Questioning and Active Listening: "And so getting really good at question asking and actively listening. So it's not just, I have the script and I'm going to ask the next question. I do have a script, I do have a plan, but I'll bounce around and I'll skip some if it doesn't make sense in the flow and based on what they just said, how can you mirror it and kind of play it back to them and if necessary, validate?"   Time Stamps –   [00:01:40] Excited to join Revenue Maze podcast, entrepreneurial Frisbee journey. [00:04:45] Develop a valuable trust-building gift for prospects. [00:08:54] Be authentic, believe in your product, sell. [00:09:57] Offer solution: audit, rewrite, train, oversee, transform [00:14:37] Building valuable connections, helping ideal clients, super connector. [00:18:41] Jump through hoops, meet decision makers, overcome obstacles. [00:23:23] Loss, family, birth led to matchmaking business. [00:27:15] Confusion and misconceptions about required regulations. [00:31:41] Craft positive interactions, thoughtful flow, networking, learning. [00:32:56] Skills: good questioning, active listening, adaptability. [00:37:37] Humour helps companies solve impossible problems. [00:42:32] Learned conference call management at Deloitte. [00:45:37] Develop entrepreneurial mindset; be resourceful, resilient, and adaptable [00:46:21] Sell and learn for 40+20 hours. Prepare, plan, win. [00:50:23] Drafted Army veteran becomes inspiring mentor figure.   Contact Mike at - mike@malloyindustries.com     Mike MalloySocial Media LinkedIn - https://www.linkedin.com/in/mwmalloy/ Malloy Industries- https://malloyindustries.com/ Twitter - https://www.twitter.com/mwmalloy Valuable Trust-Building Gift to Audit Your Brand to Transform Your Messaging: https://malloyindustries.com/resources/audit-your-brand-marketing/   Revenue Northstar-https://revenuenorthstar.com/ Revenue Northstar Podcast-https://revenuenorthstar.com/podcasts/ The Revenue Maze Podcast-https://www.revenuemaze.com/
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    51 mins
  • Building Trust and Deepening Connections: Unveiling the Revenue Maze with Clay Hicks

    Building Trust and Deepening Connections: Unveiling the Revenue Maze with Clay Hicks
    Oct 27 2023
    In this episode of "The Revenue Maze," host Valerie Cobb sits down with the accomplished entrepreneur and renowned relationship builder, Clay Hicks. With a remarkable history in the field of professional relationships, Clay Hicks has successfully built a diverse portfolio of five thriving companies. As the CEO/Founder of H7 Network, Clay has revolutionized the way business professionals connect, serve with purpose, and ask for support from their peers on a global scale. With an unwavering mission to empower underserved entrepreneurs and sales professionals.   In their conversation, Clay Hicks shares his current projects and exciting developments in the pipeline. As a visionary leader, Clay is dedicated to expanding the reach of H7 Network into new international markets, providing comprehensive training and development programs, and implementing cutting-edge processes to enhance retention, business growth, and overall relationship development. With members in 47 states and several countries worldwide, H7 Network continues to transform the networking landscape, enabling professionals to cultivate their own audience and advocates for their businesses. Clay's passion for empowering others shines through as he discusses his upcoming endeavours and the impact they will have on the business community.   This engaging conversation highlights the importance of active listening, valuing both personal and others' time, and building trust to achieve sales success. Join Valerie Cobb and her esteemed guest, Clay Hicks, as they navigate the complexities of the revenue maze, offering invaluable insights and actionable strategies for entrepreneurs and sales professionals alike. Tune in and discover the keys to unlocking your full potential in the world of business relationships     Key Takeaways   ~ Specificity in asking for help: Clay Hicks emphasizes the importance of being specific when asking for assistance in the industry. This makes it easier for others to provide support and build trust.   ~ The power of "Connect, Serve, and Ask": "Connect, Serve, and Ask" is not only applicable in networking and professional relationships but can also be applied in friendships and office dynamics. Genuine service and active listening are the keys to building strong connections.   ~ The significance of valuing time and trust: Building rapport and earning trust are crucial in sales and business relationships. Active listening, paying attention, and displaying respect for the other person's time are important components of effective communication.   ~ Self-care and confidence: Taking care of oneself is essential for engaging in active listening and effective communication. Confidence and self-love are necessary for valuing others, building trust, and establishing meaningful connections.   ~ The importance of being intentional: In the era of digital communication, Clay Hicks stresses the significance of being intentional in human connections. Asking general questions like "Can I help you?" may not yield fruitful responses, but offering specific assistance based on prior conversation or observation is more likely to be accepted.   ~ Relationship-building as a strategic process: Building rapport and relationships in sales training should align with understanding the needs and challenges of the customer. Clay Hicks encourages professionals to invest time and value in others, just as they would with friends or children, to establish deep and meaningful connections.     Quote of the show –   The Power of Asking: "So you want to be specific with your asks around industry companies you want to meet, you want to make it easy on somebody else to help you. That's the deal. Make it easier on somebody else to open that door for you."   Time Stamps –   [00:00:00] Navigating the revenue maze with Valerie Cobb. [00:06:25] Open-mindedness and flexibility lead to success. [00:08:03] Big change, seeking advice for impossible problem. [00:11:30] Blurring lines: humans matter in business. [00:14:24] How you do one thing, affects all. [00:19:39] Building trust is essential in connecting with others. [00:22:57] Specific question frames give better results. [00:24:55] Building rapport and relationships in sales. [00:30:43] Specify asks, make it easy to help, trust, works across the board. [00:31:36] "True connection lost, reclaiming intentional relationships." [00:36:21] Building global network by word of mouth. [00:38:41] Work grind, lack of connection after COVID. [00:45:32] Open to one-on-one interaction with audience   Contact Clay at - https://www.linkedin.com/in/claytonrhicks/     Clay Hick’s Social Media LinkedIn - https://www.linkedin.com/in/claytonrhicks/ H7 Network - https://www.h7network.com/   Revenue Northstar-https://revenuenorthstar.com/ Revenue Northstar Podcast-https://revenuenorthstar.com/podcasts/ The Revenue Maze Podcast-https://www.revenuemaze.com/
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    47 mins
  • From Nurse to Innovator: Sara Well’s Journey in Revolutionizing Healthcare Staffing

    From Nurse to Innovator: Sara Well’s Journey in Revolutionizing Healthcare Staffing
    Oct 21 2023
    Sara Well's passion is quality healthcare. For twelve years she was a critical care nurse at prominent hospital systems in Los Angeles. As she advanced and became Shift Manager, she observed that the scheduling process was manual, archaic and unsustainable. Sara remarks: "I felt dangerously pulled away from the clinical environment where my team needed my help, into a clerical role of trying to get staff to come in to work to help us out." While she was surrounded by innovative medical technology, no technology was being used to improve the process of staffing. As a self-confessed tech nerd she decided to tackle the problem head-on and Dropstat was born.   Dropstat automates the repetitive and tedious manual processes of filling shifts and ensuring safe staffing. The nursing shortage is real and worsening, and a solid infrastructure for staffing is desperately needed. AI and machine learning are applied to reduce friction in the process, and free nurses to provide the quality patient care that they are dedicated to. Because of Sara's intimate knowledge of hospital operations, she quickly led her team to find ways to use staff more efficiently and to reduce overtime and contingent labor costs.   In addition, in 2022 Sara became the Chapter Director for the HealthTech Industry at Startup Grind, an organization dedicated to bringing startups and investors together. She counsels and mentors emerging women in the field to create a more supportive business community.   Dropstat has been selected to participate in the 2023 AWS Healthcare Accelerator Global Cohort for Workforce Development. Supporting and protecting the healthcare workforce is an essential investment in the continuity of health services, and central to Dropstat’s mission. The focus on training, retaining, and deploying healthcare workers is consistent with Sara Well’s vision of a better future for healthcare.   In this episode of "The Revenue Maze," our host Val is joined by the accomplished and visionary guest, Sara Well, RNs. With over 12 years of experience as a critical care nurse in prominent hospital systems in Los Angeles, Sara has witnessed firsthand the challenges and inefficiencies in the healthcare staffing process. Her deep understanding of the industry, coupled with her passion for healthcare, led her to create a groundbreaking solution that transforms the way staffing is managed.   Key Takeaways   ~ Sara Well's experience as a critical care nurse led her to identify the inefficiencies in healthcare staffing processes and inspired her to create Dropstat, a technology platform that automates and optimizes the process of scheduling and filling shifts.   ~ Dropstat's technology has significantly increased the reach and speed of communication within healthcare organizations, allowing for more efficient scheduling and filling of shifts, resulting in a 10 to 20% increase in filled shifts and a 40% reduction in costs compared to existing systems. ~ By reducing agency and overtime labor costs by about 50% over a 12-month period, Dropstat has proven its ability to address the supply-demand issue and improve resource utilization in the healthcare industry.   ~The podcast episode highlighted the shortage of healthcare workers and the need to attract and retain more people in the industry. This shortage puts a strain on the healthcare system, resulting in longer wait times for primary care appointments and a potential increase in healthcare deserts.   ~Sara emphasized the importance of engagement and retention in staffing, as high churn rates and burnout among nurses and physicians can hinder effective staffing and impact patient care.   ~Sara's personal experiences in the healthcare system, including her loved one's extended hospital stay, underscored the need for improved efficiency, communication, and patient care in healthcare. The success of Dropstat demonstrates the potential of technology to address these challenges and improve the healthcare system as a whole.   Quote of the show –   "Nurses and physicians are burning out right now because of the pressure of being saddled with unsafe labor loads and getting essentially the same salary with minimal pay rate increases and being responsible for so much more."   Time Stamps –   [00:00:36] Running a company: easier than negotiating with teenagers. [00:04:44] Lucky life, helping healthcare with valuable tools. [00:07:51] Healthcare system challenges, personal experience, technology efficiency. [00:13:10] Addressing supply demand inequity with scalable technology. [00:14:41] Improved staffing technology reduces costs by 50%. [00:19:13] Impact on healthcare systems and communities is worrisome. Utilizing internal resources, addressing burnout crucial. High workload affects quality of care. [00:21:18] Comorbidities increase, longer wait times imminent. Scary. [00:27:49] Making toys for hospital babies inspired me. [00:31:39] Teaching connection with intangibles is crucial...
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    40 mins
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