We recently connected with Rich Cocuzzo and have shared our conversation below.

Rich, looking forward to hearing all of your stories today. Can you share a customer success story with us?

Client Success Story: Turning the Tide for a 25-Year-Old Manufacturing Company

In the competitive world of manufacturing, where innovation is key and adaptability is essential, a 25-year-old company with a strong value proposition and a solid reputation found itself at a crossroads. Despite their remarkable legacy, their revenue had plateaued in the years 2020 and 2021, leaving them in a state of stagnation. Sales were predominantly reliant on repeat customers, with the sales team merely waiting for the phone to ring. Performance and conduct issues among the sales force were undermining their potential for growth, and the CEO was juggling multiple roles, including that of Sales Leader.

Changing the Tide

In 2022, this manufacturing company decided to take matters into its own hands and embarked on a transformational journey, which included hiring me as their Fractional Sales VP. Together, we took the following actions:

• Established Sales KPIs: Key Performance Indicators (KPIs) were established, providing a roadmap for success, and ensuring everyone was aligned toward the same goals.

• Revamped Sales Compensation: We overhauled the sales compensation plan, shifting the focus to incent hunting, and motivating the team to actively seek new business opportunities.

• Terminated Under-performing Staff: Tough decisions were made to part ways with underperforming sales executives, allowing for a fresh start and a new, more dynamic team.

• Expanded the Sales Team: They strategically expanded the team, bringing on board additional regional sales executives with a drive to conquer new markets.

• Leveraged Tech Tools: Advanced technology tools were implemented to identify untapped “blue ocean” opportunities, helping the company grow in previously unexplored target markets.

The Results

The results of these bold actions spoke for themselves:

• 2022 Revenue Growth: The company witnessed a remarkable 32% year-over-year revenue growth, reaching $14.6 million, a testament to their newfound vigor.

• Impressive 2023 Growth: The success didn’t stop there. By September 2023, revenue was already growing at an astounding 45% year-over-year rate, putting them on track to surpass the $20 million mark.

• Energized Sales Team: The sales team underwent a transformation of their own. They were now energized, motivated, and laser-focused on pursuing new opportunities.

• CEO’s Focus: With a dedicated Fractional Sales VP on board, the CEO could now concentrate on running the overall business, relinquishing the burdensome role of leading the sales team.

This manufacturing company’s story serves as an example of how strategic decisions, a commitment to change, and a vision for growth can transform a business, even one with a long history, into a thriving industry leader.

Rich, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

I’m the Founder and President of Sales Velocity Advisors. Our mission is to help companies build high performance sales teams. I spent my formative years as an executive with FedEx and then pivoted in 2018 into entrepreneurship as a small business owner. It’s been quite an adventure! On a personal note, I’ve been married for 34 years, and we are blessed to have 3 beautiful daughters.

How about pivoting – can you share the story of a time you’ve had to pivot?

From Corner Office to Grassroots Hustle: My Unexpected Journey

The corporate corridors of FedEx were my domain for three decades. As I climbed the ladder, occupying various sales leadership roles, the familiar hum of business and the comforting camaraderie of my colleagues were constants. I thought I knew the business inside and out. Yet a yearning for change started to stir within.

Taking a leap of faith, I decided to shed the comfort of the familiar and dive into the world of consulting. In my mind’s eye, I imagined a swift transition. Register the new company, finesse my LinkedIn, flash that #opentowork badge, and surely the clients would come flocking. After all, I had years of FedEx experience under my belt. How hard could it be?

Reality, however, had its narrative.

The flood of clients I had naively expected was more of a trickle. The vast corporate world that I had once masterfully navigated seemed distant and detached from the grassroots arena of small businesses I was now trying to connect with. But the challenges of this new journey taught me something invaluable: the art of pivoting.

I immersed myself in the vibrant community of startups and SMEs. Hosting workshops, speaking at local events, and leveraging every networking opportunity, I worked to showcase the depth of knowledge I could offer. The objective was clear – to help these companies forge high-performing sales teams, an area where I had honed my skills for 30 years.

My initial overconfidence humbled me, but my faith remained my anchor. The journey was rocky and laden with unexpected turns, but I adopted a mantra that became my north star: “Be Humble, Stay Hungry, and Always Hustle.”

Fast forward six years, and I have had the privilege to work with numerous businesses, guiding them towards sales success. This journey, with its trials and triumphs, has been one of the most rewarding chapters of my life.

What’s been the most effective strategy for growing your clientele?

Winning new clients as a consultant is often about more than just your expertise. It’s about building trust, understanding client needs, and positioning yourself as the best solution to their problems. Here are five best practices that have helped me win new clients:

1. Build Personal Relationships:
– Network Regularly: Attend industry events, seminars, and conferences. Engage in discussions, offer insights, and be genuinely interested in others.
– Engage Online: Participate in online forums, LinkedIn groups, and other social media platforms where potential clients might be.
– Face-to-Face Meetings: Whenever possible, meet potential clients in person or through video calls. Personal interactions often leave a longer-lasting impression than emails.

2. Position Yourself as an Expert:
– Content Creation: Regularly publish articles, blog posts, or papers relevant to your field. Sharing your knowledge showcases your expertise.
– Public Speaking: Offer to give talks or presentations at industry events.
– Engage in Podcasts/Webinars: Either host your own or be a guest on reputable industry podcasts or webinars.

3. Understand Client Needs:
– Active Listening: Ensure you fully understand a potential client’s problems before proposing solutions.
– Customized Proposals: Tailor your proposals to address specific client needs rather than offering generic solutions.
– Show ROI: Clearly outline the potential return on investment or value you bring to the table. Businesses are more likely to hire a consultant if they can see tangible benefits.

4. Leverage Testimonials and Referrals:
– Showcase Success: Use case studies or success stories from past clients as proof of your capabilities.
– Ask for Testimonials: Get feedback from satisfied clients and showcase it prominently.
– Referral Programs: Encourage satisfied clients to refer you to others. Consider offering incentives or discounts for successful referrals.

5. Maintain Professionalism and Integrity:
– Transparent Communication: Always be clear about what you can deliver, your fees, and any potential risks involved.
– Stay Updated: Continuously update your skills and knowledge. The business world evolves rapidly, and clients expect you to be up-to-date.
– Ethical Standards: Always maintain the highest ethical standards. Integrity and trustworthiness can be significant differentiators in the consulting world.

Every interaction is an opportunity to make an impression. Consistently delivering value, showcasing your expertise, and building meaningful relationships helps you stand out and win clients in the competitive field of consulting.

Contact Info:

• Website: https://salesvelocityadvisors.com/
• Linkedin: https://www.linkedin.com/in/richcocuzzo/
• Youtube: https://www.youtube.com/@salesvelocityadvisors