Surround Yourself with Great People
Everything in Life is Sales
By: Danny Byrnes, Chief Revenue Officer, Nationwide Title Clearing
When I was in high school, I started working at a technology company that developed and delivered an accounting software platform. Years later, that company was acquired by Microsoft. It was an easy job to get as my father owned the company. Growing up in the analog 70’s I became fascinated with the technology that was presenting itself in the 80’s. I had a passion for dissecting every piece of hardware and software I could get my hands on and this job was perfect for that.
Wanting independence, and to know that I could succeed without my father’s help, I moved from the east coast to Los Angeles. I took a job selling auto and boat insurance at one of the largest insurance brokerages on the west coast. It was a great company, but it was my first role in sales, and I hated it. The competitive nature between the sales reps, the shifty prospects and clients, sales quotas, metrics, etc. was a great experience but it was not for me, so I thought. I made the first quota assigned to me and resigned. I left there swearing I would never attempt to do sales again.
Can’t Get Away from Sales
Moving on, I started working at a music production company managing sound and lighting equipment for live performances. I found myself moving from the recording studios to local clubs then out on the road touring with international acts. I suppose I was better at handling people than I was caring for equipment as I quickly moved up to management and overseeing all touring operations for many national and international artists. The president of the company was extraordinarily successful in bringing on new clients that I was responsible for. We later partnered together and started an international booking agency for musicians. Before I knew it, I was in sales again, booking tours for bands all over the world. Musicians were the product and concert promoters were the clients. In denial that I was in sales (due to the oath I swore that I would never do it again) is how I formed my sales approach. I was not “selling” but rather developing relationships and facilitating a way for musicians to get out on the road to communicate their message of art to as many people as possible. With that mindset it was never a burden.
Getting married and settling down to raise a family, I had to get off the road. I sold the booking agency and moved back east where the rest of my family was. I was not really looking for a job and did not have an interest in getting a sales job. I had a friend who owned a software company and he needed some help with the tech support for his products. I jumped in and took over the support department. In support, I was selling more products than the sales team just by talking to the prospects and clients and helping them, not “selling” them. Did I naturally apply sales technique unbeknownst to me? Was I tracking how many calls out, average call time, successful closes, pipeline, managing a quota, etc.? No. But I sure was selling.
Consequently, I was moved into a formal sales position and eventually became responsible for the whole department. Our department tripled the company revenue in 5 years. The company wanted to relocate out to the west coast, and I did not so I took a sales position at another software company selling network security products. Softening up to the idea of sales (and enjoying the large commission checks) I decided to give in, admit that this is what I like to do, and really play the game. I made quota in my first quarter and exceeded quota each quarter after that for a year. I then moved into the Enterprise sales with the “big boys”. At first, I was intimidated by the Enterprise Sales Executives as they had the formal sales training and experience that I thought I was lacking. It turned out that I was fine and continued to make quota.
Beginning With NTC
The company was acquired, and new leadership was brought in with a complete restructure. The new management had the idea that the sales executives that were exceeding quota were making too much money and the ones that were not making quota were not making enough. I witnessed one of the biggest mistakes you can make in any sales operations. The compensation of the top performers was cut in half and the compensation of non-performers was raised by 20%. In an effort to increase their bottom line they sealed their fate.
It was at this time that two friends of mine, the CEO, and the VP Sales of Nationwide Title Clearing, invited me out for a cigar and a few beers. While enjoying a nice stogie and a hearty Belgian beer I found myself being recruited. Working in the financial industry was the last thing on my mind but given the current situation I accepted. To this day they both still argue about who closed me on taking the job. I just smile and nod.
I gave my notice and during my exit interview the VP Sales pulled me into her office and asked why I was moving from a booming industry (technology) to a very troubled mortgage industry (this was in 2010). I explained to her that I felt the mortgage industry was starving for technology and I was going to take advantage of that.
The first 6 months were rough. I was constantly questioning myself as to what I was doing. I had to learn an entire industry and sell products that I was not as familiar with as my peers. I decided to fully commit and learn everything about what we were delivering as a company. I had some great help from my co-workers and quickly made friends with my peers outside of Nationwide Title Clearing. This also included developing relationships and alliances with competitors. This is when things started to click, and deals started to close. The VP of Sales moved me up to Sales Director. Shortly thereafter he was promoted to COO and appointed me as his replacement as VP of Sales.
Building Teams
The success I had in this position was not luck or magic. It was not even necessarily skill. Surround yourself with competent people as you are only as good as the people around you. I started with two of the most seasoned and experienced and talented sales executives in our industry. There was no chance of failure. I built the team from there with excellent people. We enjoyed substantial year-over-year increases and expanded the product line for the company. We also diversified the lines of business so as not to be affected so drastically with the changes that consistently occur in our industry. When interest rates would go up, one particular line of business would go down; and a different line of business would see an increase. Gone were the days of having to let people go when the economy changes or having to quickly ramp up and hire like crazy when it changes again. We were becoming more stable.
Three years ago, I was asked to take on Marketing in addition to sales. I have had a lot of experience in Marketing but more so as a necessity and with a Sales perspective. I wanted the responsibility and accepted the position. However, I wanted to make sure I was not the type of executive who would say, “I am the VP Sales… oh and Marketing.” To me, Marketing had to be equally as important if not more important than Sales if I was going to be successful at both. This was not an easy mindset to keep in place, especially with my sales background. Regardless, I tried to apply this mentality to any action or decision I made.
As I did with the sales department, I surrounded myself with excellent people in marketing. So far, I like to think that it is working. I am happy with the content and timing and have had many positive comments about the quality and placement of our marketing material.
Recently I was promoted to Chief Revenue Officer. This is something that has been discussed for over a year but I was not comfortable taking it; not because I doubted myself but because I wanted it to be an unquestionable promotion, a promotion that no one could contest, whether they liked me or not. This year has been quite a challenge with many obstacles. As a team, we did a great job working together and avoiding the many issues that many other firms experienced. It was the right time to accept the responsibility and the position.
As a VP I was always concerned with making sure our services were being sold, our clients were being well taken care of, and we were projecting weekly/monthly for a maximum of 12 months into the future. A CRO is ultimately responsible for all revenue and potential revenue for an organization. The CRO role should be focused on goals set two to five years down the road. A CRO is responsible for identifying where we want to be in 5 years, gaining agreement on that goal, and ensuring roads are opened and being travelled to get us there. Ultimately, the CRO ensures everyone is working with a purpose toward an agreed upon goal.
I am excited with this new challenge and am confident NTC has the right pieces in place to continue. Onwards and upwards!
