It started with a small group of high-potential sales leaders: seven VPs and directors our long-time client wanted to ensure they retained, because losing even one would have a pronounced effect on revenue.
The company had been heads down for three years on a strategic and operational transformation designed to boost profitability. And it worked. In that time frame, their stock price had gone from $6 a share in 2014 to a high of $38 this past April, a phenomenal turnaround.
Early in this effort, the president realized the company had little in the way of succession planning, and he was concerned about the risk this posed. The topic came up during one of our periodic conversations.
“I have some extra money in the budget, and I want to invest in training. Can you build a business acumen program?”
Sure, we do that kind of thing all the time. It’s usually a multi-day class on customer economics. It’s designed to help sales professionals change how they discuss value by using insights to show how their offerings can impact the customer’s business, financially.
“I was thinking more like a mini-MBA.”