Best of Twitter – August, 2014

Best of Twitter – August, 2014

Best of Twitter – August, 2014
by Josh Lowry

A summary of my tweets and re-tweets during the month.

  • 99% of things in business being done way always done. Reimagine how they should be done. @MCuban
  • Great businesses are run by experts. Not management experts, but experts at the business. @GE
  • Humility: admitting it when you’re wrong, shutting up when you’re right. @RJackintelle
  • IaaS provider growth in Q2/2014: 164% MSFT, 086% IBM, 049% AWS and 047% Google. – Synergy Research
  • If bottled water can differentiated, so can you. All products can be differentiated. @Josh_Lowry
  • If you do not value your time, neither will others. Stop giving away your time and start charging for it. @BrianTracy
  • If we keep competitors focused on us while we focus on customers, we will turn out all right. ― Jeff Bezos
  • Incentives are the best predictor of what people do in organizations. @WatkinsMichael
  • Learning James Jamerson’s baseline on I Was Made to Love Her  by Stevie Wonder. @Josh_Lowry
  • Most fire drills are urgent, but unimportant. Unless urgent and important, do not engage. @Josh_Lowry
  • Play physical, play fast and play hard. – Bob McMillen
  • Sales is the lifeblood of every company and economy. @GrantCardone
  • Sixty percent of billionaires still work 60 hours or more per week; 30% still work 40 hours per week. @Forbes
  • Strong cultures are exclusive, not inclusive; few are invited and not everyone can stay. @DaveAnderson100
  • Success loves preparation and the extra hours. @GrantCardone
  • The only way to influence people is to talk about what they want and show them how to get it. @DaleCarnegie
  • The way we receive feedback is the most important thing about it. @LeadershipFreak
  • We argue and debate about what we are not going to do bc we know we can only do a few things. – Tim Cook
  • What you do has far greater impact than what you say. – Stephen Covey
  • When value exceeds price in sales the buyer will close. @GrantCardone
  • Your odds improve even more when you ask people for ideas on how you can get better. @CoachGoldsmith

All contents copyright © 2014, Josh Lowry. All rights reserved.

Best of Twitter – July, 2014

Best of Twitter – July, 2014

Best of Twitter – July, 2014
by Josh Lowry

A summary of my tweets and re-tweets during the month.

  • A strong leader accepts blame & gives the credit. A weak leader gives blame & accepts the credit. – John Wooden
  • All great companies recognize they are really in the business of hiring and retaining great people. @JohnMaeda
  • Average win rate of forecasted take it to the bank deals is 45.9%. @JillKonrath
  • Awesome meeting Clint Dempsey in Kirkland this afternoon. Great guy! @Josh_Lowry
  • Concern yourself with your direction, not your perfection. @SteveGutzler
  • Do not spend time thinking about what is wrong with you; instead, focus on what is right about you. @JoelOsteen
  • Doers make mistakes. @ValaAfshar
  • Effective listening is crucial to effective leadership. Try to wait before jumping-in with a fix.” @SteveGutzler
  • Emulate to learn, but innovate to earn. @Mark_Sanborn
  • Experiment continuously + measure relentlessly + learn = agility. @Werner
  • Find investments that cash flow no matter what kind of market you are in. They exist. @TheRealKiyosaki
  • Germany celebrates as they become first European team to win World Cup on South American soil. @WSJ
  • Germany defeats Argentina 1-0 in World Cup final. @BloombergNews
  • Great day at the 2014 Columbia Cup hydroplane races in Tri-Cities, WA. @Josh_Lowry
  • I was not planning to watch Sharknado2 tonight. Two hours later, I am hooked. @Josh_Lowry
  • If u want success get comfortable w being uncomfortable. If it were easy, everyone could do it. @TheRealBradLea
  • Microsoft has 90% market share for PCs, but only 14% for total devices. Big potential for growth. – Kevin Turner
  • Microsoft rebranded: productivity and platform company for the mobile-first and cloud-first world. @Josh_Lowry
  • Microsoft to cut 18,000 jobs (14%) as CEO Satya Nadella streamlines company for cloud era. @BloombergNews
  • Microsoft to cut 18,000 jobs – deepest cuts in technology firm’s 39-year history. @BBCBreaking
  • Some things money cannot buy; e.g., friends who lift you up in your time of need. Be that friend! @SteveGutzler
  • Succeeding in the new world means we must continually change. @Tiffani_Bova
  • The only difference is they settled. – Jordan Belfort
  • The team you build is the company you build. @SteveCase
  • To be a strong leader cultivate strong relationships. Make people your priority – build into them. @MikeMyatt
  • Today a reader, tomorrow a leader. – Margaret Fuller
  • Today’s pivot courtesy of MSFT: From devices and services to productivity and platform. @CounterNotions
  • We are excited Josh Lowry has joined the company as a board advisor. @QuantumVerseInc
  • When you have 14% market share, you have to have a challenger mentality. – Kevin Turner
  • When you judge yourself hard, you tend to judge others hard too. Do so at ur own risk. @Josh_Lowry
  • When your stakeholders give you ideas do not insult them. Just say, thank you. @CoachGoldsmith
  • Would a big round of Microsoft layoffs be good for Seattle’s startup community? @PSBJ
  • You have enemies? Good. You have stood up for something, sometime in your life. – Winston Churchill

All contents copyright © 2014, Josh Lowry. All rights reserved.

Core Values = What is Value

Core Values = What is Value

Core Values = What is Value
by Josh Lowry

What is value? Value is the real or perceived belief that something is worth more than its cost. Value can only be created when two or more people have a shared concept about what is important. If a product or service is important to one person, another person must also believe it is important to agree on its worth. Values dictate value. Before a person can create value for his or her organization, that person’s core values (what they find important) must align with the organization’s core values (what the organization finds important).

Core values are descriptive behaviors that guide how decisions are made and what actions are taken. While strategy and tactics may change over time, core values do not. Core values are the foundation of knowing who you are and what you are about. For organizations, values drive vision; vision drives mission; mission drives strategy; strategy drive objectives; objectives drive tactics; and tactics drive performance. Performance ultimately drives an explanation of who we are, what we do and why we matter as an organization to those outside of it.

Why is this important? Most people passively wait to be discovered (to create or demonstrate value to others) versus actively search for the right organization or team (to join a place with shared core values). They end up working alone in isolation without attaching themselves to either the organization or its people. If personal values and organizational values are disconnected, people often end up intentionally or unintentionally cut off. Organizations and their people must bound by a set of core values to create value. Values dictate value.

All contents copyright © 2014, Josh Lowry. All rights reserved.

Why You Must Learn to Lead

Top Leadership Characteristics, Top Leadership Qualities

Why You Must Learn to Lead
by Josh Lowry

Why is it that a promising startup chalked full of advantages (funding, people and product) fails to transition from an early-stage to self-sustaining company? How is it that an organization can go from losing money one year to record profitability the next year? Why can some high-ranking VPs never seem to get anything done, while lower-level managers possess substantial power and influence? It comes down to one word: leadership. One’s leadership ability will ultimately determine their level of effectiveness with and impact on both organizations and people.

The higher a person’s leadership ability, the higher their effectiveness. The lower their leadership ability, the lower their effectiveness. You see, organizations and people cannot growth beyond the ability of their leader. For example, on a scale of one to ten, if a leader rates a five, their effectiveness cannot be greater than four. If a leader rates a nine, their effectiveness cannot be greater than eight. The net result is that leadership ability either limits potential or creates opportunities for unleashing and realizing it.

No matter how effective you are personally, there is a limit to how much you can accomplish by yourself. The higher you want to ascend personally and professionally, the more you need leadership. Whatever you want to accomplish is only limited by your ability to successfully influence and lead others. If you want to increase your effectiveness and impact on organizations and people, you must learn to lead. The greater the impact you want to make, the greater your influence needs to be; i.e., you must have the ability to create and sustain positive change.

Leadership ability and success dedication also have a multiplying effect. For example, leadership ability at three and success dedication at seven create a specific level of effectiveness. However, leadership ability at seven and success dedication at nine create a much greater level of effectiveness. In the end, leadership ability is always the ceiling for personal and professional effectiveness. Leaders with high ceilings bring great promise. Leaders with low ceilings limit potential. This is why in times of trouble, companies look for new leadership.

In closing, between 1952-1954, the McDonald brothers sold fifteen franchises, but only opened ten restaurants. Between 1955-1959,their new partner, Ray Kroc, opened 100 McDonalds restaurants. In the next four years, Kroc increased the number to five hundred. While the McDonald brothers were successful at operating their original restaurant, the effectiveness of their expansion efforts was limited by their collective leadership ability. Kroc’s leadership ability, on the other hand, was much higher and far more successful. Lean to lead.

All contents copyright © 2014, Josh Lowry. All rights reserved.

Best of Twitter – June, 2014

Best of Twitter – June, 2014

Best of Twitter – June, 2014
by Josh Lowry

A summary of my tweets and re-tweets during the month.

  • 20th century led by cos amassing scale. 21st century led by cos instantly leverage existing scale. @Levie
  • Apple will split 7-to-1. Stock will open Monday at $92 per share. @FortuneMagazine
  • Are you waiting to get permission? Do not. Just start. @JamieShanks
  • As we look into the next century, leaders will be those who empower others. @BillGates
  • AWS expected to face competition from Microsoft in traditional business and Google in native cloud. @ZDNet
  • AWS is the king of IaaS, but Competition from Microsoft is on the rise. @Gartner_Inc
  • Being 50% over budget little impact on product profit, but six months late reduces profit by 1/3. @McKinsey
  • Best place to sell something is where you have already sold something. @Josh_Lowry
  • Consumer cloud can learn from enterprise cloud: Clients own their data, not the vendor. @Benioff
  • Customers will love a company when the employees love it first. @ValaAfshar
  • Discipline is the bridge between goals and accomplishment. —Jim Rohn
  • Fall seven times, stand up eight. – Japanese Proverb
  • Hard work beats talent when talent does not work hard. @Addictd2Success
  • How you think is as important as as what you think. @T_Harv_Eker
  • I cannot believe that God put us on this earth to be ordinary. @GrantCardone
  • If you do not have good data, decisions are half-baked. @PastrySmart
  • If you do not like something, change it. If you cannot change it, change your attitude. – Maya Angelou
  • If you do what you have always done, you will get what you have always gotten. – Tony Robbins
  • Leaders who cannot have tough conversations are stuck in mediocrity. @LeadershipFreak
  • Most powerful sales tool there is: good client reference. @Josh_Lowry
  • Motivation: A fierce commitment to excel in the pursuit of unselfish goals. @MdKail
  • Never alter p-roadmap to win. Good sellers talk around objection. Bad sales people code around it. @DavidSacks
  • No such thing as burn out – zero. People get off purpose. @GrantCardone
  • Purpose of enterprise sales is to help clients get through their own internal buying process. @Josh_Lowry
  • Question for sales to answer before contacting prospects: Why you, why now? @ElleSkala
  • Seattle is the new center for a enterprise cloud technology boom. @NYTimes
  • Self-confidence is on my balance sheet. @GrantCardone
  • Successful people look to help others. Unsuccessful people ask, what is in it for me? @ManageAmericans
  • Startup conundrum: is ur wedge ultimate prod & mkt will evolve or does ur wedge need 2 evolve 2 get mkt. @Levie
  • The best leaders lead from the front. @Josh_Lowry
  • The best, most respected generals lead their armies from the front. – Julius Caesar
  • The biggest room in the world is the room for improvement. @T_Harv_Eker
  • The job of sales is not to communicate value to clients. It is to create value for them. @Josh_Lowry
  • The number one thing about @DangeRussWilson is his unwillingness to let himself fail. @Seahawks
  • The quality of your life is determined by how you feel at any given moment. @BrianTracy
  • The reason I work on weekends is because I am not seeking comfort, but freedom. @GrantCardone
  • The worst danger of mediocre leaders is they bring out mediocrity in others. @LeadershipFreak
  • Trade your fear for focus. @SteveGutzler
  • Turn down the volume of your inner critic. @AriannaHuff
  • Usability drives adoptability; simplicity is best delivery model for change. @N2Growth
  • Want to win? Be special every day! @GrantCardone
  • What we want from work: To be a valued member of a winning team on an inspiring mission. @GWeston
  • What you do today can change all the tomorrows of your life. @TheZigZiglar
  • World Cup: U.S.-Portugal match ends in tie. @THR
  • You build leadership trust through modeling character and competence. @SteveGutzler
  • You cannot lead if your personal life is in chaos. @LeadershipFreak
  • You have to learn to fail to win. @SandlerTraining

All contents copyright © 2014, Josh Lowry. All rights reserved.

Inside Sales Benchmarks for SaaS

The Bridge Group Inside Sales for SaaS

Inside Sales Benchmarks for SaaS
by Josh Lowry

In 2012, The Bridge Group surveyed 197 B2B software-as-a-service (SaaS) companies on their inside sales implementations. The Bridge Group specializes in building, expanding and optimizing inside sales strategies for both technology-based enterprise and startups firms. In its survey, The Bridge Group defined inside sales as owning the entire selling cycle as an individual contributor and/or sharing a territory with a field partner. The below summary will enable sales leaders to determine how their organizations and teams are performing against industry benchmarks.

ABOUT SURVEY PARTICIPANTS

  • Do you segment inside sales by hunters and farmers? 46% segment (percentage increases with revenue).
  • How are territories assigned? 67% are assigned by geography followed by named accounts and verticals.
  • How many inside sales people are in your company? 13.
  • How would you describe your sale? Established market (44%); new concept (14%) and new paradigm (42%).
  • What is your top-line revenue? $1M-$9M (26%); $10M-$49M (46%) and $50M+ (28%).
  • What percentage of your pipeline is sourced by marketing? 57%.
  • When are accounts transitioned from hunters to farmers? 57% of accounts are transitioned at the close.
  • Where are your inside sales teams located? 50% are entirely centralized; 44% are partially decentralized.

ACTIVITY AND INFRASTRUCTURE

  • Are you using automated/power dialing technologies? 25%.
  • Before moving on, how many attempts/touches do your inside sellers make? Six attempts.
  • What data providers does your inside sales team use? The top three are Data.com, Hoover’s and ZoomInfo.
  • What is the average number of conversations per day per inside seller? 10.
  • What is the average number of dials per day per rep? 38, but increases 48%-72% with dialing technology.
  • What social providers does the team use for prospecting? The top three are Facebook, LinkedIn and Twitter.

COMPENSATION AND QUOTA

  • How are inside sellers compensated? $109,000 OTE ($57,000 base salary and $52,000 variable).
  • What is an inside sellers quota based on? ACV (47%), MRR (24%), Seats/Units (3%) and TCV (26%).
  • What is the average deal size? $28,800 (company specific context is required for definition).
  • What is the average number of deals per year? 38.
  • What is the average quota per inside seller? $670,000 ACV or $5,245 MRR depending how quota is based.
  • What percentage of inside sellers achieve quota? 74%.

INSIDE SALES MANAGEMENT

  • How many hours/months do managers spend coaching inside sellers one-on-one? 14 hours.
  • What are your top three challenges? Performance/productivity (44%) followed by forecast accuracy and hiring.
  • What is the OTE for inside sales management? Director ($178,000), manger ($135,000) and VP ($$212,000).
  • What is the ratio between direct manager and inside sellers? One to seven.
  • What titles are used in inside sales management? Director (22%), manager (41%), VP (22%) and other (15%).

RAMP AND RETENTION

  • How long does it take for a new inside seller to be fully productive? 4.2 months.
  • What do you require as experience when hiring? 2.5 years.
  • What is the average tenure of an inside seller? 2.5 years.

All contents copyright © 2014, Josh Lowry. All rights reserved.

What is DevOps?

What is DevOps?

What is DevOps?
by Josh Lowry

Software development is the process of creating applications and frameworks resulting in products and services. IT operations are the people, processes and technologies associated with delivering products and services. Software development involves constant change; i.e., new features, patches, updates, etc. IT operations involves maintaining a stable infrastructure to run the technology. Because constant change is the enemy of stable infrastructure, there has historically been a wall between software development and IT operations … until now.

DevOps is the combination of software development and IT operations. DevOps seeks to create and maintain stable IT infrastructure that is resilient to constant change. DevOps enables communication, feedback and tooling between development and operations. DevOps promotes automation, collaboration, consistency, repeatability, testing, versioning and visibility. Net: The goal of DevOps is stable IT infrastructure to continuously push new code to production more easily and frequently.

All contents copyright © 2014, Josh Lowry. All rights reserved.

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