Mike is an entrepreneur who has had an adventurous and diverse career. As the former CEO of Waveborn Sunglasses, he had the opportunity to combine his love for travel, sales, and sports. During his time at Waveborn, Mike not only travelled the world as a sunglasses salesman but also pursued his passion for Beach Ultimate Frisbee. In 2015, he represented Team Kenya at the World Championships of Beach Ultimate Frisbee in Dubai, where Waveborn was also a sponsor. This experience allowed him to showcase his athletic skills while promoting his own business. Mike's days were filled with playing Frisbee on beautiful beaches and then transitioning seamlessly into selling sunglasses. This unique combination made for an unforgettable journey and a peak in his athletic career. Now, as a guest on the Revenue Maze podcast, Mike is excited to share his story and insights with others.
In this thought-provoking episode, Valerie and Mike dive deep into the intricacies of sales and revenue generation. They explore the importance of building trust, developing valuable relationships, and mastering effective communication techniques. With Mike's insightful anecdotes and Valerie's expertise as a podcast host, they unpack the complexities of the sales industry and offer valuable advice for navigating the revenue maze. Don't miss this engaging conversation between Val and Mike that is sure to leave you inspired and informed.
Key Takeaways
~ Mike Malloy, founder of Malloy Industries, brings a wealth of experience and expertise as a management consultant, CEO, professor, and trusted advisor.
~ Mike emphasizes the importance of building relationships and trust in sales, and shares strategies such as genuine interactions, sharing personal stories, and being relentlessly generous to add value and build trust upfront.
~ The episode discusses the significance of understanding the decision-making process and meeting with all key decision-makers to increase the chances of closing a sale.
~ Mike highlights the power of referrals in sales, as they eliminate mistrust and can lead to faster closing times.
~ Continuous learning and preparation are crucial in sales, and Mike shares his experiences teaching different levels of skills, including email etiquette, meeting management, and an entrepreneurial mindset, to college students.
~ The importance of communication is emphasized, with insights on effective questioning techniques, active listening, and adapting communication styles to build rapport and connection.
Quote of the show –
Effective Questioning and Active Listening: "And so getting really good at question asking and actively listening. So it's not just, I have the script and I'm going to ask the next question. I do have a script, I do have a plan, but I'll bounce around and I'll skip some if it doesn't make sense in the flow and based on what they just said, how can you mirror it and kind of play it back to them and if necessary, validate?"
Time Stamps –
[00:01:40] Excited to join Revenue Maze podcast, entrepreneurial Frisbee journey.
[00:04:45] Develop a valuable trust-building gift for prospects.
[00:08:54] Be authentic, believe in your product, sell.
[00:09:57] Offer solution: audit, rewrite, train, oversee, transform
[00:14:37] Building valuable connections, helping ideal clients, super connector.
[00:18:41] Jump through hoops, meet decision makers, overcome obstacles.
[00:23:23] Loss, family, birth led to matchmaking business.
[00:27:15] Confusion and misconceptions about required regulations.
[00:31:41] Craft positive interactions, thoughtful flow, networking, learning.
[00:32:56] Skills: good questioning, active listening, adaptability.
[00:37:37] Humour helps companies solve impossible problems.
[00:42:32] Learned conference call management at Deloitte.
[00:45:37] Develop entrepreneurial mindset; be resourceful, resilient, and adaptable
[00:46:21] Sell and learn for 40+20 hours. Prepare, plan, win.
[00:50:23] Drafted Army veteran becomes inspiring mentor figure.
Contact Mike at - mike@malloyindustries.com
Mike MalloySocial Media
LinkedIn - https://www.linkedin.com/in/mwmalloy/
Malloy Industries- https://malloyindustries.com/
Twitter - https://www.twitter.com/mwmalloy
Valuable Trust-Building Gift to Audit Your Brand to Transform Your Messaging: https://malloyindustries.com/resources/audit-your-brand-marketing/
Revenue Northstar-https://revenuenorthstar.com/
Revenue Northstar Podcast-https://revenuenorthstar.com/podcasts/
The Revenue Maze Podcast-https://www.revenuemaze.com/
Building Trust and Deepening Connections: Unveiling the Revenue Maze with Clay Hicks
From Nurse to Innovator: Sara Well’s Journey in Revolutionizing Healthcare Staffing
Unleashing Hidden Revenue Streams with Kashish Gupta - The Revenue Maze Podcast
Sound Engineering for the Future: The Story of Finnur Pind and Treble Technologies – The Revenue Maze Podcast
Unlocking the Revenue Maze with Anurag Gupta: From Startups to $5 Billion with AWS
Samyak Pandya CBO at Ridecell Transforming Business through Enterprise Sales
Monica Rozier Founder and CEO of Elite Solutions and Revenue Leader at Revenue Northstar
Brian Mattimore “Chief Idea Guy” of the Growth Engine Company
Dano Ybarra-Find The Pain and Heal It
Teasha Cable, CEO and Co-Founder of CModel
Clinton Buie co-founder of The AmateMint Group
The Speed of Trust - Michael Neece - The Revenue Maze - Episode # 032
A Digital Market - Olle Widén - The Revenue Maze - Episode # 031
Know Your Channel - Brian Ketchum - The Revenue Maze - Episode # 030
Know Your Product - Dennis Thankachan - The Revenue Maze - Episode # 029
Empowering Your People - Andrew Denton - The Revenue Maze - Episode # 028
The Guiding Northstar - Fabian Geyrhalter - The Revenue Maze - Episode # 027
Don’t be a Bottleneck - Graeme Scott-Dodd - The Revenue Maze - Episode # 026
Two-Pronged Approach - Thai-Anh Hoang - The Revenue Maze - Episode # 025
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Gorse Culture PODcast : The H.R. Detective Agency!
HCI Leadership Revolution
The Ramsey Show
Planet Money