Silver Fox Advisors Houston Tx

Meet Silver Fox Advisor

Michel Privé

Michel is currently using his 25+ years of experience as a VP of international and local sales for small and Fortune 500 companies to assist owners and leaders of various size businesses in building or fixing their sales organization to achieve their expected profitable growth.

As a fractional VP of sales imbedded in his clients, Michel performs all expected functions of a VP of sales – Build or fix the Sales structure, implement tools, manage the sales team and hold them accountable, Focus on the right prospects and clients, Recruit and Train sales-people to drive significant revenue growth.

Michel’s clients reach the next level to achieve successful short-term and long-term growth goals.

Seasoned Executive

Focused on process and execution, Michel is an accomplished, dynamic executive with 25+ years of experience successfully leading diverse organizations selling products and services to the aerospace, defense, industrial, marine, and energy industries with a proven track record establishing compelling visions, effective sales strategies, and building teams to achieve profitable growth.

Michel went through recessions and fast expansion periods. He led his teams to successfully implement ERP systems from the front end and multiple CRMs.

Michel understands channels well. He knows what works well and what doesn’t from these perspectives. He worked at OEMs using direct and sales channels, at distributors, and as a manufacturing rep.

Business and Career Background

When Michel left Teledyne Marine, he was Global Vice President of Sales and marketing for the interconnect division – leading his team to double digits year-on-year growth, 4 x EBITDA from the original state when Michel joined five years before. This achievement was executed while implementing new ERP systems, CRM, and sales processes, leading his team to this success and over $100M.

Before joining Teledyne, Michel led the Aerospace and defense sector sales effort at Matrix Technologies located in Markham, Ontario, a $15M electromechanical distributor. He managed IASI, his engineering firm, for ten years. IASI and Matrix were sold in 2011 to new owners. Michel stayed on board until Teledyne asked him to join, merge and market diversify several companies and raise their performance.

Before Joining Matrix Technology, Michel worked at Raychem (Now TE Interconnect) where he successfully built his career internationally in France, India, Canada, UK, from engineering to global sales leadership roles.

Education and Certifications

Michel earned a Mechanical engineering degree (Automation & Robotics) from Lille (France) AFPA. Additionally, Michel completed multiple university courses in Finance, public speaking, management, and professional sales training programs. Michel frequently writes and publicly presents educational topics on Sales and networking for SMB business owners in the Houston area or online.

Please contact Michel   713-907-6310   mprive@salesxceleration.com  

Should you hire during a recession?

By Michel Privé, a Silver Fox Advisor

 

Recession is top of mind for every business today.

Business owners will need their “A game” during this period of change. 

What is your plan?

Aggressively chase growth or play defense? 

Well, here are some strategies that are easy to implement and worth considering.

-1- Play defense or try to dodge the crisis or bury your head in the sand? 

Stay close to your customers and manage your cash flow. At the same time, you are putting yourself in a position where you hope your customers, your markets will not vanish, and your staff will stay.

-2- Play offense. You never want to waste a crisis! 

This crisis will end and lead to a new normal. With good planning and a solid strategy, your business can be more robust and ready to thrive in the new normal. 

My advice: keep control of your destiny. Use this period of changes to align your business direction:

– Invest in your clients. Support them in their new product development efforts and continue to work with them when the crisis ends. Become their partners. Offer them solutions they need now to help them gain market share.

– Actively hunt for business from your competitors (the ones who play defense). 

– Develop solutions that meet prospects’ and clients’ needs now and in the future. 

– Be present and over-communicate.

You will need a strong sales leader on your team to help guide your efforts to strengthen the company during this transformation and the negative impact of the recession. 

Do you have this leader today on your staff? 

If you don’t, you need to hire one. Don’t waste this crisis.

One more gut punch to add: Inflation has negatively affected hiring.

Many employers have struggled to fill vacancies for months, and the strain is starting to show. 

Half of the small and medium businesses across the country reported they have open jobs they cannot fill.

Hiring the right sales leader is mission-critical.

Start answering these questions before the hiring process:

  1. What’s the biggest sales-related issue you need to solve now?
  2. What does your business specifically need right now? What about a few months or two years from now?
  3. What are the market and your customers telling you?
  4. What stage is your business – where do you plan to take it in the next few weeks, months, and years?
  5. What do the next two years look like?

Make sure a candidate’s expertise and experience fill in the gaps of what your team lacks but desperately needs.

Additionally, look for a sales leader who:

  1. Is aligned with your mission and the work that needs to be done to succeed
  2. Is resilient
  3. Puts people first
  4. Holds themselves accountable
  5. Doesn’t crack under pressure
  6. Is multi-dimensional
  7. Has solid emotional intelligence
  8. Knows how to hire, onboard, support, and retain their team
  9. Demonstrates GWC (Gets It, Wants It, Capable of delivering It).

 Once you know why you need to hire a new sales leader and the attributes you are looking for, you don’t want to fall into a common trap: 

I have seen too many business owners with unrealistic expectations when hiring a new sales leader. It can lead them to look for a unicorn – the perfect candidate.

Unrealistic criteria turn their hiring initiatives into a chase for the mystical white unicorn with red wings. 

A long, costly hiring process has several adverse outcomes. It unnecessarily puts added pressure on existing staff, and worse – lost opportunity costs accumulate rapidly.

Since this is not a zero-sum game – speed matters.

 • Adjust candidate skills and experience criteria to focus on the most critical responsibilities of the job
 • Focus on potential instead of capabilities or experience. 
 • Match or raise the compensation package to compete with current market demands
 • Do not limit the search to your industry and reach out to those outside your industry or geographic area

Now you are ready to recruit, and candidates are getting interviewed. Be prepared to make a fast move. To help you to select the sales leader and to allow you to make an offer within 24 hours, always use a hiring scorecard during interviews to help your recruiting team to make a fast decision.

A hiring scorecard is an unbiased system that helps you evaluate candidates based on the standards and qualifications you need.
When you create your hiring scorecard, list all the traits and experiences you want your ideal hire to have (see above). Scorecards will be your “North Star” to ensure you stay focused during your interviews. It will help you evaluate and score each candidate on how well they meet those qualifications.
Scorecards also allow you to ask deeper, probing questions to dig well below the surface during your interviews.
They are a powerful visual to help you uncover which candidates make the most sense for your business, not just those who look good on paper or interview well.

Using a hiring scorecard narrows down exactly what your business is expecting. And because you’re vetting each candidate thoroughly using an unbiased system, you’ll naturally reduce your hiring time.

If you say to yourself:
“All this advice on hiring and finding the right candidate is excellent, but I can’t wait. 
This crisis will weaken us, and we will die if we don’t act now”. 
Or: 
“I want to keep my current sales leader on staff,  but I know her or his skills are not strong enough in change management or simply not aggressive enough for this required transformation.”

I Need Help Now!

Consider using a fractional VP of sales with the right skills and experience in leading or organizing a sales team during changing times. A fractional VP of Sales can help business owners grow sales in a cost-efficient low-risk way. They have been through multiple change management events during their careers. They know what to do and typically achieve desired outcomes quickly.

They are expert sales advisors and practitioners and can address challenges across the spectrum of activities related to revenue generation, including finding your next sales leader or grooming your current leader. 

Interview and select them for the mission described above. Check if they will be a good match for the work to be completed and your company culture. 

If you like your current sales leader’s attitude and potential, you might not need to hire a new one. 

Let the fractional VP of sales lead and execute the required changes. Upon completing the repositioning and transformations of your business, your leader will have learned a lot and be able to take over and let the fractional VP of sales go to save another company.

Never waste a crisis.

If you have questions or would like a more in-depth conversation on sales strategies and tactics in a fast pace changing environment, please contact:

Michel Privé
713-907-6310
mprive@silverfox.org

Silver Fox Advisors May Lunch & Learn

“The Houston Economy”

Patrick Jankowski

Chief Economist

Greater Houston Partnership

HOUSTON, TX (February 24, 2023) – Silver Fox Advisors announced their May 2023 Lunch & Learn Program, scheduled for Thursday May 25, 2023, will feature the Greater Houston Partnership’s Chief Economist Patrick Jankowski. He will be speaking about the “Houston Economy”.

Houston is a Global City by most standards. In addition to its diversity as a community, Houston offers a well-developed suite of key global industries – including energy, life science, manufacturing, logistics, and aerospace. As these industries digitize, Houston is a hotbed of rapid technological development thanks to our access to customers and expertise.

A thriving international city, Houston’s ties stretch to all corners of the world. The region’s geographic location makes it easy to move both goods and people around the globe. With one of the largest ports in the country and two international airports, Houston connects companies to the world.

Our speaker, Patrick Jankowski is the Senior Vice President of Research at the Greater Houston Partnership. He oversees the research department which provides data analysis and forecasting functions for the Partnership. 

His observations and analysis on the local, regional and U.S. economic trends have appeared in over 200 newspapers, magazines, radio and television broadcasts, including The Atlantic, Bloomberg Business, CNNMoney, Forbes, NPR, PBS Nightly Business Report, Reuters, The Wall Street Journal, The Washington Post and The New York Times.

Patrick has worked for the Greater Houston Partnership, and its predecessor, the Houston Chamber of Commerce, for 39 years. He has been married to Olga Jankowski for 40 years. Both have been wonderful experiences.

The Silver Fox Advisors’ Lunch and Learn events are held at the Briar Club, 2603 Timmons Lane, Houston, TX  77027. To learn more about the Silver Fox Advisors’ Lunch and Learn Sessions and to register for this Thursday May 25, 2023 event, visit our Website at (www.silverfox.org).  Seating is limited, and due to the special nature of this very informative session seating will fill up fast, so make your reservation today. Tables of eight are available for $350. Lunch will be served at 11:30 a.m., and the Program will begin at 11:50 a.m. sharp.

Silver Fox Advisors are proven business leaders who advise and consult with, and coach and mentor business owners and leaders, CEO Roundtables, and entrepreneurship programs.

For more information visit: www.silverfox.org

Power Consumers in Texas and the US Faced the Impacts of Natural Gas Price volatility, Weather Issues, and Demand Uncertainty in 2022.

A winter of price discontent becomes a season of uncertainty

As Texas and the United States approached the fourth quarter of 2022, there was every reason to believe that power consumers were facing a winter of discontent over prices. The country had just sweated through one of the hottest summers on record, demand was surging while output was declining, and domestically produced liquefied natural gas was being shipped to Europe as Russia’s invasion of Ukraine disrupted global energy markets. So it was no surprise that conventional wisdom concluded prices that were already surging in 2022 would show no sign of letting up entering 2023.

So much for conventional wisdom.

Benchmark Henry Hub natural gas prices – a major driver of electricity costs, especially in Texas– have plunged. Storage levels in both the United States and Europe have grown and now provide a comfortable supply cushion. Despite a December freeze, moderate winter temperatures – January got off to its warmest start in almost 15 years, analysts said – have kept demand in check.

Does that mean the record natural gas price swings that defined 2022 have evaporated? Not at all. “It’s looking really volatile here to start the year,” said one analyst. And there are expectations that power prices in Texas may climb even higher this winter. So the state’s businesses and organizations should consider collaborating with an energy procurement partner to help them navigate the uncertainty, save money, and keep their operations productive and efficient.

Record high gas prices marked 2022

The wholesale Henry Hub natural gas spot price averaged about $6.45 per million British thermal units last year, according to the Energy Information Administration, the highest annual mark since 2008 and 53 percent higher than in 2021. On a daily basis, prices were all over the map, ranging from a peak in August of $9.85 per million British thermal units to a low of $3.46 per million Btu in November. But they started creeping up in December as heating demands grew.

The price performance was both consistent with and in contrast to EIA’s previous outlook. In early 2022, the agency forecast that Henry Hub natural gas prices would average about $9 per million British thermal units in the fourth quarter of 2022 before retreating to roughly $6 in 2023 as production recovered. It scaled back those estimates in October, to about $6 per Btu in the fourth quarter of 2022 and holding that level in Q1 of 2023. Still, that was sharply higher than the $3.32/MMBtu in 2021 and $1.86/MMBtu in 2020.

The higher-price expectations weren’t without reason. Prices had begun to creep higher in early 2021, when a brutal winter storm battered Texas and Oklahoma, causing a spike in February. They kept rising through October as the economy strengthened and caused an increase in demand, which hit an annual high of 2.97 billion cubic feet per day. The cold weather extended into spring 2022, pushing prices even higher, leading to below-normal injections of gas into storage in advance of the approaching heating season, and gas already in storage had been withdrawn to meet winter demand. Drillers were raising production, but available supply was still lagging.

Demand was showing no signed of abating, either. In January 2023, EIA said it expected consumption of natural gas settle at an average of 88.7 bcf/d EIA last year – a new high and up 6 percent from 2021 – and that power sector usage would average 33.3 bcf/d, another record and 8 percent over 2021. Meanwhile, the agency noted that in 2022, liquified natural gas exports continued to climb and storage inventories were at historic lows.

High prices don’t materialize, but volatility still reigns

But as the United States entered a new year, the market had begun to shift dramatically. From mid-December 2022 to mid-January 2023, prices plunged 48 percent and, according to Rystad Energy, demand could hit record lows if abnormally high winter temperatures continue. On top of that, production is poised to outstrip demand: EIA projected natural gas output will grow 2.4 percent this year, to a daily a record daily average of 100.3 billion cubic feet per day, while demand remains basically flat. Others, including East Daley Analytics and RBN Energy, forecast an even higher output increase.

The falling costs of natural gas, combined in part with the expansion of new renewable energy, were projected to drop wholesale U.S power prices by 10 to 15 percent this year – though customers likely won’t see benefits in 2023. On top of that, storage, which had fallen to 12 to 13 percent below the trailing five-year average, was on the upswing in both the United States and Europe. In the EU, it was at 83 percent of capacity, up sharply from the year-ago level of 51 percent. In the United States, inventories rose by 11 billion cubic feet in mid-January – the Wall Street Journal called that “unheard of” – bringing domestic stockpiles to just 1.4 percent under the five-year average and “erasing any doubt that there will be enough of the fuel to get through the winter.”

Price volatility is not likely to abate in 2023, but isn’t expected to reach the record levels of last year. “It’s looking really volatile here to start the year,” said Steve Blair of Marex North America. “We have a lot of factors at play – production, LNG – but ultimately weather will rule.” He added: “If we get more Arctic blasts, the direction of prices could change quickly. If we don’t, and production holds up, we could see new tests to the downside.” For its part, EIA forecast Henry Hub prices will rise about $5 in late January and stay around there for the last three quarters of the year behind falling temperatures and the restart of operations at the Freeport LNG terminal. But it, too, hedged all bets, saying there is a possibility of lower prices.

State of Play In Texas

Despite the plunging cost of natural gas, power prices in Texas are high and, said an economist with the Federal Reserve Bank of Dallas, could go even higher this winter. Part of this is due to the state’s reliance on gas-fired power – 44 percent of generation compared with 37 percent nationally. Exports are expected to jump with the start of the Freeport facility, and three other Gulf Coast terminals are being built. “Those exports,” the Fed’s Jesse Thompson said, “are likely to keep pressuring higher the amount Texans will pay for heat and power through the winter.”

Additionally, there are the ongoing effects of Winter Storm Uri, which knocked out electricity for 5.2 million homes and businesses in 2021 – the large majority of them in Texas. The state’s power customers are still picking up the cost for the grid’s collapse after the legislature approved about $7 billion in ratepayer-backed bonds to deal with the financial repercussions of the disaster.

Also related to the storm, the Electric Reliability Council of Texas has since been managing grid operations more conservatively. ERCOT now wants plants to be online and available when needed. That translates to paying generators a set price to operate, no matter what the conditions. The result? “Conservative operations add costs,” a top energy lawyer told The Texas Tribune.

Your Market Ally

It goes without saying that in a market like this, where the only certainty is uncertainty, businesses and organizations can use an ally. Albireo Energy is your partner in not only managing price and supply volatility, but also in finding opportunities that others might not see.

Albireo Energy is the largest independent smart buildings provider in the United States, and its energy procurement division is a Top 10 utility management firm in its own right, handling over 30,000 commercial and industrial accounts.

We have helped customers country get deals that have them paying less than half of the local utility default service rates, and have helped secure those rates for the longer term. Thousands of businesses have enjoyed lower energy costs by enrolling their electric and natural gas accounts with us. We group these accounts together into large energy aggregations, and those businesses get the same purchasing power as major energy users. Enrolling is simple and effective and provides a long-term solution for your energy purchasing while delivering the peace of mind that comes with knowing your energy expenses are being professionally managed.

For larger businesses, Albireo’s proprietary reverse auction software, supplier management portal, and market-leading supplier network drive sophisticated and proven results. That’s why heavy users such as data centers and blue chip global brands trust Albireo to help them navigate the complexity and risk of energy purchasing.

Any organization that is feeling the pain of high energy bills, or is concerned about where prices will go next, should reach out to Albireo Energy to see what our business-class service can achieve for them. Through intelligent buying patterns, you can enjoy the advantages of structured and longer-term purchases. And even if you are locked into good rates, you can still benefit from an account review. Even beyond matters of rates, Albireo employs thousands of professionals who can help your buildings reduce usage and improve comfort and efficiency through leading-edge technology.

If any conclusion can be drawn from the market today it’s this: No one really knows what will happen next, and price volatility is not going away. But you can still be prepared. Albireo Energy is here to help you do it.

References
Dallas Morning News – Electric bills are likely to keep climbing, Dallas Fed economist says
Energy Information Administration – Average Cost of wholesale U.S. natural gas in 20922 highest since 2008
Energy Information Administration – U.S. natural gas consumption forecast to increase in all sectors in 2022
Energy Information Administration – Short Term Energy Outlook
Energy Information Administration – Natural Gas Weekly Update
Financial Post – More oil and gas volatility in 2023 to keep producers focused on shareholder returns
Natural Gas Intelligence – Average Henry Hub Natural Gas Spot Price Shoots to 14-Year High in 2022
Natural Gas Intelligence – Volatility Laces 223 Natural Gas Price Outlook Amid Robust Production, Demand Uncertainty
Natural Gas Intelligence – Henry Hub Natural Gas in Q$ Likely to Average $9, with Brent $98, EIA Says
Natural Gas Intelligence – EIA slashes Natural Gas Price Forecast, But Potential Remains for Winter Spikes
Natural Gas Intelligence – Henry Hub Natural Gas in 4Q Likely to Average $9, with Brent $98, Says EIA
Reuters – U..S. natgas price volatility hit record highs in 2022
Reuters – U.S. natgas output, demand hit record highs in 2022
Texas Tribune – Texans face skyrocketing home energy bills as the state exports more natural gas than ever
Wall Street Journal – Made in the U.S.A.: Natural gas prices
Wall Street Journal – It’s Basically Spring for the Natural Gas Market

Silver Fox Advisors Present

“Foreign Affairs Issues Facing the U.S. in 2023”

HOUSTON, TX (January 17, 2023) – Silver Fox Advisors announced the February 2023 Lunch & Learn Program, scheduled for Thursday, February 23, 2023, will feature The Honorable David M. Satterfield. He will be speaking about “Foreign Affairs Issues Facing the U.S. in 2023”. In addition, Mr. Satterfield will describe the activities of the Rice University’s Baker Institute of Public Policy.

The Honorable David M. Satterfield is the director of Rice University’s Baker Institute for Public Policy and leads the institute’s Edward P. Djerejian Center for the Middle East. He has more than four decades of diplomatic and leadership experience, including service as special envoy for the Horn of Africa, assistant secretary of state, National Security Council staff director, and ambassador to Lebanon and Turkey, and charge’ d’affaires in Iraq and Egypt.

Satterfield’s extensive bilateral and multinational negotiating background most notably includes the 1995 Roadmap for Israel-Palestinian Peace (with the United Nations), the 2000 withdrawal of the Israel Defense Forces from Lebanon and Blue Line boundary agreement (with the United Nations), and the 2008 Status of Forces Agreement between the U.S. and Iraq. As the State Department’s coordinator for Iraq, he managed the largest domestic staff in the department’s history and directed fundamental reforms to the Foreign Service.

As director general of the Multinational Force and Observers, Satterfield conceived and directed the comprehensive modernization of military and civilian peacekeeping operations and led fundraising efforts with the U.S. Congress and donor governments.

Among other honors, Satterfield is the recipient of the highest Department of State recognition, the Secretary of State Distinguished Service Award, and the highest award for senior federal executives, the Office of Personnel Management Distinguished Federal Executive Rank Award.

Satterfield is a graduate of the University of Maryland and speaks Arabic, French and Italian. He is married to Elizabeth Ann Fritschle, a career Foreign Service officer.

The Silver Fox Advisors’ Lunch and Learn events are held at the Briar Club, 2603 Timmons Lane, Houston, TX  77027. To learn more about the Silver Fox Advisors’ Lunch and Learn Sessions and to register for this Thursday, February 23, 2023 event, visit our Website at (www.silverfox.org).  Seating is limited, and due to the special nature of this very informative session seating will fill up fast, so make your reservation today. Tables of eight are available for $350. Lunch will be served at 11:30 a.m., and the Program will begin at 11:50 a.m. sharp.

Silver Fox Advisors are proven business leaders who advise and consult with, and coach and mentor business owners and leaders, CEO Roundtables, and entrepreneurship programs.

For more information visit: www.silverfox.org

Silver Fox Advisors Member

One of the Top 15 Coaches in Houston

Rich Hall

HOUSTON, TX (December 15, 2022) – Today the Silver Fox Advisors announced one of its Silver Fox Advisor members Rich Hall was named one of the “Top 15 Coaches in Houston in 2022” by Influence Digest.

Joseph Tung, President of the Silver Fox Advisors added, “If you are a small business owner who is trying to grow your business with limited success or feel you are not finding a precise direction to get the results you want, Rich can help you chart a path to help you develop your business to get the results that will lead to success”.

Mr. Hall is a Houston business coach specializing in leadership development, business coaching, and consulting. Additional information about Mr. Hall and other members of Silver Fox Advisors can be found at www.silverfox.org/advisors.

Silver Fox Advisors are proven business leaders who advise, coach, consult, and mentor business leaders, CEO Roundtables, and entrepreneurship programs.

Silver Fox Advisors have been sharing their knowledge, experience, skills and wisdom since 1986. For more information visit: www.silverfox.org

Silver Fox Advisors Announces A. Butch Madrazo Award Winner

ibrahim saleh

Ibrahim Saleh

HOUSTON, TX (December 13, 2022) – Silver Fox Advisors’ President Joseph Tung announced today the winner of the A. “Butch” Madrazo Award. The A. “Butch” Madrazo Award is given to a Silver Fox Advisor who best exemplifies the attributes Butch demonstrated every day. Butch Madrazo was a Silver Fox Advisor from the mid-1990s until his death in August 2020.  Butch was always welcoming, especially in counseling new members. He brought a certain light-heartedness to any room he was in.  The attitude he projected when providing support made everyone feel resilient and always put a smile on every face.  The inscription on the award reads “Awarded in recognition of fellowship among, engagement with, and commitment to fellow members.” Butch was a true friend and outstanding colleague.

The third annual award was issued to Ibrahim Saleh for his outstanding service to the Silver Fox Advisors. Ibrahim is the founder and owner of the TaQtics Consulting Group. He also serves as Chairman of the CEO Roundtable Committee for Silver Fox Advisors.  

Silver Fox Advisors are proven business executives and leaders who advise, coach, consult, and mentor business owners in the Greater Houston area. In addition, the organization sponsors and advises CEO Roundtables and hosts and conducts entrepreneurship programs.Silver Fox Advisors have been sharing their knowledge, experience, skills and wisdom since 1986. For more information visit: www.silverfox.org

Silver Fox Advisors Announces New Member, Michel Privé

HOUSTON, TX (December 12, 2022) – Today Silver Fox Advisors announced its newest Silver Fox Advisor. “Michel Prive was elected a Silver Fox Advisor Advisory Member at the organization’s December 8, 2022, Membership Meeting”, announced Joseph Tung, President of the Silver Fox Advisors. Tung added. “Michel has an extensive background in the business world and specifically in sales leadership. In addition, Michel is a true believer in giving back to his community to make it a better place to live, work and raise a family.  Michel is an entrepreneur and has his own sales consulting practice.”

Silver Fox Advisors are proven business leaders who advise, coach, consult, and mentor business leaders, CEO Roundtables, and entrepreneurship programs.

Silver Fox Advisors have been sharing their knowledge, experience, skills and wisdom since 1986. For more information visit: www.silverfox.org

SILVER FOX ADVISORS ANNOUNCES

2023 OFFICERS AND DIRECTOR

HOUSTON, TX (December 12, 2022) – Silver Fox Advisors announced today the names of the Officers and Directors for 2023. Elected as Officers are Donnie Roberts – Chairman, Joseph Tung – President, Gary Henderson – Vice-President, Jim Griffing – Secretary, and David Neuberger – Treasurer. Elected to the Board of Directors are: Ibrahim Saleh, Herb Kalman, Richard Hendee, and George Connelly.

Silver Fox Advisors are proven business executives and leaders who advise, coach, consult, and mentor business owners in the Greater Houston area. In addition, the organization sponsors and advises CEO Roundtables and hosts and conducts entrepreneurship programs.

Silver Fox Advisors have been sharing their knowledge, experience, skills and wisdom since 1986. For more information visit: www.silverfox.org

                       For more information visit: www.silverfox.org 

Annual Sales Goals

SALES TEAM members are heavy lifters contributing to the success of their companies.

Therefore, it makes sense to prioritize an annual sales goal process as part of your business practice. These meetings offer a time to share the Company’s VISION MISSION, allowing TEAM members to know where they stand within the organization’s established benchmarked goals and objectives. And know if they are at Performance Standards, Below or a High Achiever.

Also of importance, it offers time to review the salespeople’s motivational desires they strive for before management cast out annual goal expectations.

This meeting process helps assure sales and management personnel on reaching obtainable revenue numbers they forecast and expect to achieve that alight with Company goals.

Need a process? Here’s a summary outline you may find helpful.

  1. Start with Group Messaging
    • Communicate the company’s current year-end (YE) results compared to goals. What went right and opportunities to capitalize on.
    • Review of the company’s longer-term Vision and Career Opportunities that avail. Include in careers, “What’s in it For Them” talk, facilitates retention plans and helps to attract the right people into the organization.
  2. One-on-One Meeting
    • Review with each salesperson their current YE sales revenue and personal income results.  Start now, project out to YE if necessary.
    • Compare their results with the goals forecasted to be achieved for this year.
    • Discuss in detail the metric measurements, controllable Key Performance Indicators (KPIs) that produced their sales revenues and income results.
    • Take time to define what they feel went well and what they would do differently to improve results.
    • Compare their contribution standing to the Company’s resulting Performance.
    • Goal Setting.  Discuss the income the salesperson wants to make for the coming year.  Tie the KPI metrics required to produce the level of sales revenue to generate their income goal.
    • Explore how sure they feel about the metrics required, and HOW they expect to accomplish.  Establish that both of you agree the sales revenues, KPIs, and income goals are obtainable.  If you or the salesperson feel they are too high or low, collaborate to reach a number you both believe is real.  It’s KEY for the salesperson and manager to agree on the income to sales revenue ratio and KIPs required are achievable.
    • Understand WHY the Income Goal is meaningful to them.  Knowing how they plan to spend their income provides a self-managing motivational tool.
    • Career Opportunity.  We all want to BE learning and growing.  Ask the salesperson what they want as the next step in their career.  Review with them the company’s projected growth and the Performance Standards representing this opportunity.
  3. Probe the commitment level they have for their goal ambitions.
    • Remember, people do things for their own reasons.  Knowing these reasons helps manage the process through the year.
  4. Support.  What will they need from you?  Be clear.  Is it training in sales, leads generation, product and/or service, greater depth on knowing the customers’ business, other?  Get specific.
    • Be sure to understand what THEY personally feel vs. what you feel they need.
    • This feedback clarifies what you are committing to when providing the needed support requirements.
  5. Check-Ins.  Standardize a Report Form they fill out to review Results Expected/Result Achieved.
    • Establish a time, weekly preferred.  If a new salesperson, daily.
    • Review successes and/or variances in the metric numbers and discuss strategy and tactic adjustment requirements of KPIs to achieve desired results.
    • If continually missing their metric KPIs, find out if their financial income goal priorities changed.
  • Note
    • This is a TEAM effort.  It’s important to stick with regular review meetings the salesperson and manager establish. 
    • Write and keep accurate notes of conversation agreements and commitments.
    • KPI metrics are controllable factors, must do requirements to achieve desired goals. 
    • Numbers can be readjusted during the year if they are off track.

If you have questions or would like a more in-depth conversation on framing a goal setting session, contact:

Jim Iden, CPC

713-927-3564

jiden@silverfox.org

Cheers and Happy Holidays!

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