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/
Showing Empathy - Mike DiCosola - The Revenue Maze - Episode # 024
Credible and Relevant - Melanie Asher - The Revenue Maze - Episode # 023
Simplicity Is Clarity - Mike Adkins - The Revenue Maze - Episode # 022
Mapping Out The Future - Zach DeAngelo - The Revenue Maze - Episode # 021
ExtraBold Sales - Catherine Brown - The Revenue Maze - Episode # 020
Taking Ownership for Entrepreneurs - Gil Allouche - The Revenue Maze - Episode # 019
Simplified Behavior - Jordan Schindler - The Revenue Maze - Episode # 018
Test Before You Invest - Diane Moura - The Revenue Maze - Episode # 017
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Things My Customer Said Today - Alex Reed & Jay Manouchehri - The Revenue Maze - Episode # 015
Professionals Have Standards - Marcelino Dodge - The Revenue Maze - Episode # 014
Drive My Car - Todd Cripe - The Revenue Maze - Episode # 013
Remote First - Annil Chandel - The Revenue Maze - Episode # 012
Powering Up Your Company - James Wagoner - The Revenue Maze - Episode # 011
Pushing The Right Buttons - Jay Williamson - The Revenue Maze - Episode # 010
A Different Perspective - Lou Hughes - The Revenue Maze - Episode # 009
The Global Economy - Murray Wilkinson - The Revenue Maze - Episode # 008
The Road Map to Success - Sharon Means - The Revenue Maze - Episode # 007
The Ringmaster of Marketing - Casey Cheshire - The Revenue Maze - Episode # 006
The Oxygen of a Business - Frederick Akpoghene - The Revenue Maze - Episode # 005
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