Adapting, Improving, and Thriving: The Keys to Success with Ever-Changing Sales with Mike Malloy

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November 10, 2023 • 51 mins

Mike is an entrepreneur who has had an adventurous and diverse career. As the former CEO of Waveborn Sunglasses, he had the opportunity to combine his love for travel, sales, and sports. During his time at Waveborn, Mike not only travelled the world as a sunglasses salesman but also pursued his passion for Beach Ultimate Frisbee. In 2015, he represented Team Kenya at the World Championships of Beach Ultimate Frisbee in Dubai, where Waveborn was also a sponsor. This experience allowed him to showcase his athletic skills while promoting his own business. Mike's days were filled with playing Frisbee on beautiful beaches and then transitioning seamlessly into selling sunglasses. This unique combination made for an unforgettable journey and a peak in his athletic career. Now, as a guest on the Revenue Maze podcast, Mike is excited to share his story and insights with others.

In this thought-provoking episode, Valerie and Mike dive deep into the intricacies of sales and revenue generation. They explore the importance of building trust, developing valuable relationships, and mastering effective communication techniques. With Mike's insightful anecdotes and Valerie's expertise as a podcast host, they unpack the complexities of the sales industry and offer valuable advice for navigating the revenue maze. Don't miss this engaging conversation between Val and Mike that is sure to leave you inspired and informed.

Key Takeaways

~ Mike Malloy, founder of Malloy Industries, brings a wealth of experience and expertise as a management consultant, CEO, professor, and trusted advisor.

~ Mike emphasizes the importance of building relationships and trust in sales, and shares strategies such as genuine interactions, sharing personal stories, and being relentlessly generous to add value and build trust upfront.

~ The episode discusses the significance of understanding the decision-making process and meeting with all key decision-makers to increase the chances of closing a sale.

~ Mike highlights the power of referrals in sales, as they eliminate mistrust and can lead to faster closing times.

~ Continuous learning and preparation are crucial in sales, and Mike shares his experiences teaching different levels of skills, including email etiquette, meeting management, and an entrepreneurial mindset, to college students.

~ The importance of communication is emphasized, with insights on effective questioning techniques, active listening, and adapting communication styles to build rapport and connection.

Quote of the show –

Effective Questioning and Active Listening: "And so getting really good at question asking and actively listening. So it's not just, I have the script and I'm going to ask the next question. I do have a script, I do have a plan, but I'll bounce around and I'll skip some if it doesn't make sense in the flow and based on what they just said, how can you mirror it and kind of play it back to them and if necessary, validate?"

Time Stamps –

[00:01:40] Excited to join Revenue Maze podcast, entrepreneurial Frisbee journey.

[00:04:45] Develop a valuable trust-building gift for prospects.

[00:08:54] Be authentic, believe in your product, sell.

[00:09:57] Offer solution: audit, rewrite, train, oversee, transform

[00:14:37] Building valuable connections, helping ideal clients, super connector.

[00:18:41] Jump through hoops, meet decision makers, overcome obstacles.

[00:23:23] Loss, family, birth led to matchmaking business.

[00:27:15] Confusion and misconceptions about required regulations.

[00:31:41] Craft positive interactions, thoughtful flow, networking, learning.

[00:32:56] Skills: good questioning, active listening, adaptability.

[00:37:37] Humour helps companies solve impossible problems.