Creating a Sales Culture for Your Mission-Driven CDFI
August 22, 2013Jason Friedman * Leslie Hoffman
Catherine Meyrat * Barbara Eckblad
Sponsored by Little Dixie Community Action Agency (LDCAA) and funded by the U.S. SBA Program for Investments in Microentrepreneurs (PRIME) Program
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The Friedman Associates Team Approach
We grow organizations thoughtfully and
sustainably.
We help you maximize your impact now for long-term results.
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Friedman Associates
• Mission: inspire nonprofit leaders to achieve their vision for the entrepreneurs and communities they serve - and demonstrate the results that lead to increased funding and long-term success.
• Build Strong and Sustainable CDFIs: Assess and Strengthen Loan Fund Operations
Improve Effectiveness and Impact of Development Services
Prepare CDFIs for CARS™ Assessment
Develop KPIs and systems to demonstrate impact
Strategic Planning
Board Development
Market Research
Preparation of CDFI applications
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Today’s Panel
Jason FriedmanModerator
Leslie HoffmanCo-moderator &Panelist
Barbara EckbladPanelist
Catherine MeyratPanelist
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Today’s Agenda
Foundational Concepts of Mission-Driven
Sales
What is mission-driven sales?
Why is it important?
Developing a mission-driven culture
Measuring and monitoring progress
Q&A
Next Steps6
What Is Mission-Driven Sales?
Impact
Value
Action
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Why Mission-Driven Sales?
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Be Better, Do Better
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Who’s Using a Mission-Driven Sales Approach?
Accion Texas, San Antonio TX
Accion New Mexico – Arizona – Colorado,
Albuquerque NM
Opportunity Fund, San Jose CA
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A Snapshot of the CDFI Landscape
Demand• Grew in the fourth quarter of 2012
Originations• Remain strong
Outlook• Strong demand is expected to continue
Source: OFN Q4 2012 Market Conditions Report11
Market Research = Product Roadmap
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What Does This All Mean?
Demand Focus Impact
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Your Cultural View of Sales
20% Positive
21% Negative
59% Neutral
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Have You Discussed Sales Culture?
Total: 43% No
Neutral Opinion: 47% No
Negative Opinion: 52% No
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Who Is Behind or Far From Goal?
39% of full group
43% of those with a neutral sales view
37% of those with a positive sales view
31% of those with a negative sales view
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Mission-Driven = Values-Based
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Explore Your Values
PASSION
Leads with energy, humility, joy and fun.
Tenaciously overcomes obstacles.
PIONEERING SPIRIT
Actively recognizes and rewards innovation.
Embraces change with agility and humor.
INTEGRITY
Exemplifies ACCION values.
Builds trust by continually exhibiting honesty and respect.
EXCELLENCE
Consistently seeks opportunity for improvement.
Enthusiastically strives to exceed expectations.
ACCOUNTABILITY
Holds oneself and others accountable for behavior, actions and results.
Seeks and embraces feedback.
New Mexico-Arizona-Colorado
Full list available at www.accionnm.org. 18
Elevating Values-Based Behavior
Volume Values
Quality
Satisfaction
Retention
Goals
Quotas
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Developing a mission-driven sales culture
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Explore Team Attitudes and Resources
Board Senior Management Staff
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Board of Directors
• Your Board of Directors need to be integrated into your work in building your mission-driven sales culture.
• They should participate in the process of developing your core organizational values.
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Senior Management• Senior leadership may also have
varied attitudes toward moving to mission-driven sales.
• Success = taking time for dialogue, so senior leaders have consensus and unanimity about direction and the core values on which you will base your CDFI’s decisions.
• With consensus and unanimity, senior managers will successfully convey, first the WHY of what you are working toward, and then, the HOW and the WHO.
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Staff• Achieving organization-wide
integration includes helping each staff member understand that they are a member of the team and that they have a specific and important role to play on the team.
• Educating staff on the WHY and the HOW and the WHO allows for staff to build their understanding and better allow them to embrace the success.
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What’s Your Bus Look Like?
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Job Skills
• Job skills is a broad concept which goes beyond narrowly-construed work skills that an employee has to succeed at their job.
• It includes personality traits and talents.
• We know that the personality traits of your front-facing folks, the sales people, tend to be different from those of back-office operations folks, even though both may have strong job skills in accounting, for instance.
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Trust Is The Glue
Shared Values
Good Communication
Trust
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Great communications strategies
• Make sure that folks whose job responsibilities depend on each other have open channels of communication.
• This creates opportunities for growth in knowing the truth of other's work, their ability to do that work and the strength of their skills as well as the strength of their co-commitment to the core values of the organization.
• Expect and allow only direct conversation – direct communication. About challenging issues or problems that arise on any given day, and that need solutions.
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Motivate!
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Tips on Sales Team Motivation
• Clear & visible• Team and individualGoals
• Victories, big and small• Learning from mistakes as
well as from successCelebration
• Provide perspective and affirmation
• Speak the truthLeadership
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Compensation Considerations
Integrating goals with compensation can be effective and should be carefully considered.
Variable compensation can help staff align their tactics with organizational goals.
Variable compensation can be a recruitment tool but is not a retention tool.
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How Do You Measure and Monitor Progress?
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Measure Actions and Outcomes
What outcomes does your organization want?
Do you measure them?
Where are the gaps?
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The Power of Key Performance Indicators
Clear monthly goal for
loan originations
Loan conversion
rate?
Best kinds of leads
that generate
closed loans?
Number of leads are needed to generate
one closed loan?
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Driving Client Outcomes
Improve staff response time
Improve portfolio performance at the
loan officer level
Improve client outreach
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Tips on Communicating Sales Goals
Communicate clearly why metrics are important and how they will help the organization
Include in job description
Have monthly discussions to share best practices
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Measurement and Monitoring
Data
Measure
Impact
Manage
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Sales Management Systems
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Next Steps
Take stock of your values and impact.
Assess team resources.
Mobilize with clear goals, a coordinated team approach, and positive leadership.
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And Here’s How We Can Help
Assessment of current loan fund operations and performance.
Analysis of current staff functions and corporate performance goals.
Facilitate re-assessment of organizational values, position descriptions and intra-office communication and workflows.
Develop KPIs and design data collection systems.
On-site staff training and coaching.
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Let’s Take Your Questions
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Additional Resources
• FIELD forum Issue 23: The Organizational Foundations of Sustainability (2009) on ACCION New Mexico-Arizona-Colorado http://fieldus.org/Publications/FieldForum23.pdf
• Dollars for Dreams: Scaling Microlending in the United States (2010) • http://fieldus.org/Publications/DollarsForDreams
.pdf• Good to Great: Why Some Companies Make the
Leap and Others Don’t, J. Collins (2001)• Built on Values: Creating an Enviable Culture that
Outperforms the Competition, A. Rhoades (2012)42
Additional Resources
1. Myers-Briggs Foundation: www.myersbriggs.org
2. StrengthFinder 2.0: (c) 2007 Gallup, Inc.
3. CISS (Campbell Interest and Skills Survey), (c) 1994 David Campbell, Ph.D.
4. BarOn Emotional Quotient Inventory: Rowen Bar-On, Ph.D.
5. Career Anchors; Discover Your Real Values, Edgar H. Schein, www.careeranchorsonline.com
6. Management Tasks, Responsibilities, Practices, Peter Drucker
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