Issue #56

Shout Lauda

Niki Lauda was a formula 1 legend. After winning two world championships, and driving mere weeks after a near fatal accident, Lauda retired in 1979.

If you've seen the film "Rush" then you will know about his intense rivalry with James Hunt during that period.

Then, in 1982, he made a surprise comeback. His absence meant he had to start from scratch in terms of car technology and physical fitness. His past status counted for nothing.

Lauda approached his return with humility, he knew he needed to adapt to new cars and younger competitors. He learned new driving techniques and re-established himself in a much more competitive field.

In 1984, Lauda won his third world championship, completing one of the most remarkable comebacks in F1 history.

Why am I telling you about a racing legend from the past?

His story shows the power of reinvention and never giving up, even when faced with near impossible new challenges.

He reached the top over and over again in his F1 career and beyond.

When transitioning from an Account Executive (AE) role to an Enterprise Sales role, you’ll need to reinvent yourself.

Just like with Niki, many of the skills you've developed will translate, but you'll need to adapt them to succeed at enterprise level.

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Here's how key skills map or morph from one role to the other:

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1. Relationship Building → Strategic Relationship Management

AE Role: You're used to building relationships with clients to guide them through the sales process. But, they are mostly transactional in nature.

Enterprise: You’ll need to manage long-term, strategic relationships with multiple stakeholders.

Your ability to build trust remains vital, but the complexity increases as you deal with C-level decision-makers.

2. Product Knowledge → Solution Expertise

AE Role: You’ve likely become expert on your company’s products. You pitch based on features and benefits.

Enterprise: You'll need to become a solutions expert.

Understanding broader business challenges and offering solutions tailored technically and financially rather than products.

3. Negotiation → Multi-Party Negotiation

AE Role: You negotiate deals focusing on pricing, features, and contract terms.

Enterprise: Negotiations involve many stakeholders; internal champions, procurement team, legal, etc.

You’ll need to balance the interests of multiple parties to build consensus, which requires advanced negotiation skills.

4. Pipeline Management → Multi-Tiered Pipeline

AE Role: Managing a focused pipeline with a shorter sales cycle.

Enterprise: Cycles are longer with multiple deals in various stages of the pipeline.

You’ll also manage a broader territory. The ability to forecast, prioritise, and maintain momentum over long periods becomes crucial.

5. Sales Process → Consultative Selling

AE Role: You follow a structured sales process, focusing on prospecting, demos, and closing deals.

Enterprise: Deals require a consultative selling approach, where you are a trusted advisor.

You’ll need to engage in higher-level conversations with different view points.

You must align with long-term goals, providing strategic value rather than just pushing for a quick sale.

6. Time Management → Project Management

AE Role: Juggle multiple prospects and ensure you hit your monthly quota.

Enterprise: You’ll be managing large, complex sales engagements that involve cross-functional teams.

Time management skills evolve into project management capabilities, as you coordinate internal and external resources over months or even years to close a deal.

7. Handling Objections → Enterprise-Level Challenges

AE Role: You handle objections related to product fit, price, or timing at an individual account level.

Enterprise: Objections stem from larger organisational concerns, such as integration with existing infrastructure or long-term business strategy.

You’ll need to address objections that are more complex and require a broader business perspective.

8. Quota Attainment → Long-Term, Strategic Goals

AE Role: Your focus is primarily on hitting monthly or quarterly quotas.

Enterprise: Revenue goals still matter, but focus shifts to long-term value creation and building relationships that generate future revenue.

Success is measured not just by deal size, but by the overall growth and retention of large, strategic accounts.

9. Internal Collaboration → Cross-Departmental Collaboration

AE Role: You may work with marketing or customer success to assist in closing deals.

Enterprise: You’ll need to work closely with legal, finance, product, regulatory, IT, risk, HR and executive teams within your own company.

And build relationships with multiple departments in your client’s organisation.

10. Closing Skills → Closing Complex Deals

AE Role: Closing deals is essential at the AE level, where deals are typically smaller and less complex.

Enterprise: The stakes are higher. Closing requires navigating intricate deal structures, managing risk, and often leading negotiations that involve detailed contract terms with large financial impacts.

The foundation you’ve built as an AE evolves in enterprise sales. The ability to think strategically, manage complex processes, and interact with high-level executives is key to success at this level.

Reinventing yourself is vital to scaling up your skills for enterprise success.

It can seem like an impossible mountain to climb, but it is also a great life adventure.

As Niki said, "The biggest lesson in life is not to give up, even when things seem impossible." He never let wrong perceptions stop him.

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I have a great course that covers all the foundational skills in enterprise sales - ideal for people transitioning into the big deal arena.

Here is a button you can press to start your climb up the mountain, like the bloke in the inspirational picture.

I Am ready To Become A Great Salesperson

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It was a longer post this week, so you get a break from another video, but don't forget to check out my daily posts on X and LinkedIn..

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