Mike Weir has joined G2 after a lengthy period in leadership at LinkedIn. In this interview, he shares insights into the process of building a Revenue model that looks 6-18 months forward and allows sales leaders to pace their quota attainment based on relevant data, trends, patterns, signals, and conversations. This brings huge benefits for sales leadership. Mike also shares with us the framework for how he filters good ideas from revenue professionals from those that may not hold water.
Something interesting that we learned on this week’s show was the fact that Mike is a global traveler and has stepped foot on all continents; and I am sure that well-rounded world view serves him well.
Predictable Revenue Modeling
- The priority of Revenue Operations is to build a predictable revenue stream, a predictable growth path that the executive team, company, and investors align on.
- One of the foundations of building this growth path is using data and predictive analytics exceptionally well. Mike’s revenue operations team is his closest partner. It's the group that I talk to the most within the organization.
- Mike’s goal is to build business planning processes that think on two different levels. He wants to be thinking long-term so he built a three-year revenue strategy. He wants to understand the milestones that they have to accomplish along the way in that long-term pacing model plan.
- We want to make sure we are galvanizing the team, he asks for certain things like, “How does that ratchet up to the bigger picture? How does this help our buyer experience? How does this help our clients be more productive and successful within our platform?”
- This strategy creates the roadmap that helps everybody stay aligned as they’re building towards the future and simultaneously helping buyers and clients be successful.
- Rather than just looking in the rearview mirror, rather than coming into a forecast meeting and going deal by deal and asking if it’s going to close or not close, Mike’s team offers forward-looking guidance for the revenue leadership team, the individuals that run regions run specific teams within the organization.
- Based on a historical pattern, revenue operations can offer the sales team forecasts on where they will be at the end of the quarter. Then tell Sales how much pipeline they need to build each week and how deals need to be progressing so they can meet that forecast.
Who is Part of a Pacing Model Conversation?
- Mike invites the senior leadership team into the long-term conversation to make sure they have planning rhythms that look six months and 12 months out. When you start doing a really good job with a pacing model and you start projecting forward and continuously revisiting it, asking, “What does our current momentum profile look like?” there are two implications that can help them do a better job as a leadership team to make the team and the business even more effective.
- We can start seeing warning signs early, and that may be at a team specific level. That could lead to talent conversations that could lead to broader issues that we're seeing in the business. We need to create more educational materials in partnership with our marketing organization to keep up with the pace of new clients that we're onboarding.
- We want to look for those warning signs, as well as those really positive breakpoints to plan ahead so that we are preventing issues from happening before a fire drill hits.
- The more we can plan ahead, the more we can see where some issues are going to be. We're not making just snap judgments. We are analyzing what are some of the biggest risks that we're facing? What are some of the biggest upside opportunities that we have?
Creating an Effective Pacing Model Culture
- When teams come to him with an idea, Mike requests that they build consensus with the other teams in the revenue organization that may be impacted. When the rev ops team or product marketing comes to him with an idea he asks who is behind it. How many of them already support it and are excited about it, and eager to do it. And if they haven't built that consensus, he asks them to go out and build that consensus. He doesn’t want to force things on his team.
- Part of creating an effective pacing model culture is creating a culture of sharing and engaging on ideas and then creating a process and making that process very known. Just because you're not getting full consensus and agreement doesn't mean you can't make a decision. That doesn't mean we can't push forward. We just want to do it transparently because politics become highly prevalent. We want to bring transparency and understanding on decisions.
About the podcast
The RevAmp podcast derives from two words: Revenue + Amplification. This series has been produced specifically to give a voice to the sales and revenue operations professionals who have invaluable experiences to share. We have seen the scope for this role, as well as the recognition, expectations, and tools have rapidly changed over the last couple of years. The reality is that there are not enough high-quality resources for fellow professionals to use as a benchmark or learning curve. DealHub knows how important it is to be well resourced so we have put together this RevAmp podcast for your benefit.
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