In the last episode on Friday, we shared early success, how we made it up as we went along and the big win and success at GE Capital Corporate. Here’s the rest of the story.
Deals kept going. GE Supply, GE Card Services, and so forth. But I had a few problems. The product was buggy, support was weak and my compensation plan was still a Regional Sales Manager. So everything sold outside my turf went to other reps mainly, though I did get a piece. The crux of the problem was there was no large account sales programs.
Then one day a fateful thing happened. The company hired a VP of National Accounts, Craig T. So I went to Craig and asked him if I could work for him and get a new national compensation plan. He said “Of course, Jeff. Welcome on board.” and he shook my hand.
Upon returning to my office, my phone rang. It was our Chief Marketing Officer, Dave K. Dave said “Jeff, what the Hell did you do to Jon T. ” (Top Sales exec)” Confused and caught off guard, I said “Dave, what do you mean? I never even spoke with him.”
Then it hit me. Craig was Jon’s rival. Going to Craig meant I was disloyal in Jon’s eyes.
From that point forward, things started going sour. First, the company shipped a very buggy software release, so GE stopped purchases. My pipeline dried up and for the first time, I missed a monthly quota. (I had been over 250% of quota.)
Then the company announced its Club trip for that year — Cancun. I was told I won the trip. My wife was thrilled.
A few days before the trip to Cancun, the VP of the East Region, Marc S., called me in. He said “Jeff, I hate to tell you this, but we’re letting you go. Ironically the only reason this did not happen sooner, is at 250% of quota, you were untouchable.” Then it dawned on me. A buggy release. No purchases. Missing quota. All made me vulnerable to a vindictive sales exec.
On one hand, I was very upset. On the other, I was glad to leave, as the company was, as I say, in the “purchase order extraction business.” The VP, Sales, Jon T. was a political hack, stabbing people in the back. The CMO left and told me “It was crazy when you were here and even crazier after you left.”
They then totaled up the results. Global revenue from GE skyrocketed from $2.1 million to $6.8 million in just 12 months. We had been wildly successful.
To replace me, the company reached out to their #1 competitor for the salesrep who handled GE. He lasted six months before they dismissed him.
A couple of things were fascinating. One, I was a new salesrep who never handled GE and I put up big numbers. (And we could have done a lot more.) The so-called experienced specialists all failed. Companies make this mistake every day — choosing the obvious choice rather than the best choice.
Epilogue: Every manager from those days is gone. 100%. Amazing.
Hope you enjoyed the story. I’ve never told it completely before.
What did you think of this story?
What do you think? We love comments and people who share.
Jeff Ogden is President of Find New Customers “Lead Generation Made Simple” Check out the online show every Friday at 11am ET, “Laugh and Learn with the Fearless Competitor.” Find New Customers is one of few lead generation companies in New York.
Find New Customers helps companies like yours (with 50 to 5,000 employees and complex products) implement lead generation programs to improve the way you find and acquire high quality sales leads using best practices in online lead generation. Quality leads matter. In fact, a recent study found that sales teams with fewer, high quality sales leads closed more than sales teams with more leads of dubious quality.
If you wish to do sales lead generation online, contact the B2B lead generation experts at Find New Customers using the form below.
