Closing big deals for pharmaceutical

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hey everybody Chris orloff here and in this quick video I'm going to teach you a powerful sales technique to close more large deals and it comes down to expanding your customers field of vision when it comes to the problem you solve in the opportunity at stake and here's how it works a few months ago at the time of this recording my startup or one of my startups closed a 98 000 deal which is our biggest one yet at the time now despite the fact that we made that happen that deal started out pretty rough okay we sell to cros and I could not get to the cro otherwise known as the chief Revenue officer the head of recruiting didn't feel that their sales hiring issues were big enough to justify spending time with the cro so in this context we're selling sales hiring software to sales organizations and here's how this unfolded first of all there was no way that I was going to go over the head of recruiting's head we would have to work together closely if we closed this deal so here's how we turned this nice to solve business pane into must solve and got that introduction to the chief Revenue officer so here's how the conversation went he said this is interesting but I have to protect our chief Revenue officers time we should revisit this next year and I said that might make sense but can I ask you a few questions before we move on sure is what he said so then I asked we started talking because you were behind on your account executive head count plan plus there were a few attritions that put you further in a hole is that still a priority for you and he said it is but my problem is not worth spending lots of our cros time on in other words he was referring to it as his problem rather than the cros so I said okay tell me a little bit more how far behind are you on your head count plans and he said we're behind by about six account Executives so I asked how long does it take a new account executive to ramp and what are they producing when they're ramped how much revenue are they bringing into the business and he said it takes about five months and at that point they're closing around fifty thousand dollars in ARR per month by that point so I said if you were on plan and those account Executives you mentioned were ramped you'd see around three hundred thousand dollars more in annual recurring Revenue closed per month right we're talking about six account Executives that he was behind on on his head count plan times fifty thousand dollars that's 300 Grand a month and he said yes so I said again if they were hired and ramped that's another 900 Grand on the board between now and the end of the year okay this was just a few months before your end I think this was in October or so and I said does that math check out with you and he said yeah and I think he kind of sensed where I was going with this at this point so I asked and I validated is that ARR is that Revenue amount meaningful enough for your Chief Revenue officer to carer or is that a drop in her bucket he said she'd care her especially when you annualize that amount that's 3.6 million dollars right that nine hundred thousand dollars was a quarterly amount you times that by four now we're talking about 3.6 million dollars of opportunity costs and lost Revenue and I didn't say anything there was just this long pause and he said plus we have far more aggressive headcount plans next year insinuating that that number could get even worse because we're talking about more reps they could fall behind on when it comes to their hiring plans so after the conversation wrapped up the next day he introduced me to the chief Revenue officer and they are now one of our strongest Champions among our early customers for the quota signal business now here's the lesson for you as a seller or as an entrepreneur who is trying to Pioneer or evangelize Your solution customers and buyers do not always have the full picture of the problem you solve right it's your job to expand their field of vision okay this head of recruiting was looking at the problem strictly as a recruiting problem and was viewing it narrowly for that through that lens when I assumed us both out so that we could look at the bigger picture ramifications of the challenge now we were talking about big money left on the table which did affect the chief Revenue officer big time so one of the key takeaways is it's your job to expand their field of vision you as a seller have these sales conversations every day right you probably do this twice a day maybe even more but for your buyer this is their first time okay so you have to take a leadership position by making them aware of the full magnitude and scope of the problem so that they appreciate the entire picture rather than the narrow view in which they're viewing it so that's all for today uh one thing I want to make you aware of is I teach how to create business pain that Money Follows in B2B tax sales right I teach how to find business pain that gets funded and create urgency this is the exact five-step Discovery system that I taught the number one producing sales organization at gong to use to grow from 200 000 to 200 million dollars in annual revenue in five short years I've taught over ten thousand SAS and Tech sellers so far in SAS Discovery master class which is the online video course in which I teach these methods if you want to join us go learn more at go.p club.io Discovery go there now and I'll see you in the next video