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Reacting and rebuilding as a business leader

Recently, Petra Coach hosted a Coaches’ Corner – a 1-hour session of live Q&A with Certified Petra Coaches. This webinar featured coaches Erik Frank, Marshall Martin and Mark Comiso.

The content is invaluable to leaders during this unprecedented time.

You can find the full recording here.

To augment the recording, below is a brief recap of questions and answers from the session.

Q: Because of COVID we have had to lay off a lot of our team and are rebuilding our sales division. Any advice on how to build a sales division from the ground up?

A: Think about who you are selling to – look at the existing relationships you have and narrow down that list. Get your people up and running and closing deals.

Also, always be recruiting and looking for people to bring on to your team. Right now there are quite a few people out there looking for jobs.

Q: Recommendations on a better sales compensation model that looks more at activity than outcomes?

A: Sales professionals are good about following the compensation plan. Roll it out and have a sales professional look at it – they will tell you what’s good or bad about it.

 

Q: Does Petra coach any private equity backed companies?

A: We do coach both private equity groups and their portfolio companies.

 

Q: Does Petra coach companies in Africa and, if so, how does it work?

A: We do! We have pivoted and are now primarily using a virtual model for the time being. We would have the planning virtually with the entire team.

 

Q: What has Petra done to pivot during this time?

  • More virtual plannings
  • Hosting Webinars and Workshops
  • Virtual Forum Groups in the evenings

 

Q: Any stories about companies you’re working with that are pivoting into their “new normal?”

Home services company outside of Philadelphia

  • They used to have to go into a house to do measurements
  • Now they have a virtual selling model
  • Having a record month of sales

Beer/alcohol companies

  • Making hand sanitizer

 

Q: Post COVID, our marketing budget has been slashed. Any quick fixes to get marketing back up and rolling again?

A: Put money back into that division. That is what is going to help the business get back on track, and it is crucial to keep it up and running.

 

Q: How do I develop core values and roll it out to the team?

A: Think about what it is that drives your business. There are worksheets on our website that can help you find what those are or reach out to us and we can help you.

 

Q: What is your favorite part about coaching companies?

EF: The ability to walk into a room and building out a period over the next 90 days that has to move the business forward

MM: Sharing knowledge with others so that they can grow

MC: The ability to have an impact on human beings

 

Q: With all of the social unrest going on, I am challenged with what to do as a business leader. What should I do?

A: Listen to understand, educate everyone including and especially yourself, evaluate your business model and make adjustments.

Assume that you are the problem and listen to figure it out in a different way than you would if you assumed you are removed from the problem. Keep your mind open and be vulnerable and courageous – what can you do to be part of the solution?

Don’t come off as attempting to solve the problem, but that you want to learn and understand.

 

Q: My company and I participated in a Petra workshop and want more option for our team – what can you provide?

For more options specific to your organization, contact us at info@petracoach.com.

 

Like what you see? Register for our first International Coaches’ Corner coming up on July 1!