Get Offshore Leverage
The cupboard theory – why we always start talent on fractional pay
Ever heard of the Cupboard Theory?
Analogy – you move from a smaller home with four (4) cupboards. Your new home has eight (8) cupboards. Amazingly your cupboards are full when you move in?!? How? You have 2x the space.
Give people the time and space, and they will fill it. Your talent does the same. Give someone one (1) week – task complete. Same task is provided one (1) month – task is completed on the 29th day.
This time vampiring is a productivity and financial killer.
Here is what we’ll cover this week:
- The cupboard theory – why we always start talent on fractional pay.
- Launching offshore in sales? Always hire in pairs.
- Be the hero of your story with financial/operational transparency.
- Nurture your past offshore talent, awesome project-based help in the future.
We launched a new LinkedIn prospecting campaign at Pipeline Signals. This was a continuation of a similar campaign run in 2021 when we launched the company. During that time, we prospected all day on LinkedIn. Today to run the same campaign, we are executing in < 2 hours per day.
Past experiences may create a bias to think that everyone has to have full-time employment for satisfaction/retention, and that every role/program you run requires full-time work. That is absolutely not true. In fact, I’ll challenge you to avoid full-time offshore employment as your default.
Give someone one (1) week to complete a project, and it’s completed. Give them the same project, but thirty (30) days, and you’ll be amazed that the initiative is completed on day twenty-nine (29).
You will be astonished at what your team can accomplish in fractional/part-time work. If you want rabbit-like speed, reduce the work week and timelines in half.
Launching offshore in sales? Always hire in pairs.
There is an old adage for the Order of Operations in designing a Go-To-Market strategy (GTM Strategy) – People, Process, Technology. As in, focus on the people, then process, then technology to support both.
Many of our customers leverage offshore talent to support their existing sales force. This could be:
- Lead Development Rep (LDR)
- Sales Development Rep (SDR)
- Business Development Rep (BDR)
Typically all part of the Demand Generation / Prospecting team, and sometimes in an Account Management support role (portfolio sales model). These hires can be a game-changer to your CAC: LTV ratio (Cost of Customer Acquisition) as you can either accelerate deal flow and/or lower your cost to acquire a new customer.
As you make these hires, I highly urge you to hire in pairs. Sales is a complex arena. if you are starting offshore talent in a new role with no previous benchmarks, if there is a failure, you won’t know whether is it:
- Faulty talent
- Faulty process
You won’t know. Like Clark Griswold in Christmas Vacation, you won’t know where the faulty bulbs are.
With two (2) sellers, you have doubled the probability that you can work through your sales process details to identify that one (1) or both sellers are productive. Now you’re ready to scale!
Be the hero of your story with financial/operational transparency.
I had a former offshore employee tell a podcast audience that “I was their mentor and hero”. Wow. I was floored when I read those podcast notes. When I think of why this is, I honestly believe it’s because everyone that’s worked inside my companies has left smarter than when they started.
I’m a huge believer that EVERYONE in your company needs to know:
Where are we “rowing the boat” as a company and team?
How do we make money?
What costs us money?
How are executing against money making, saving, growing now?
What can we improve?
For most offshore employees of ours, we provide the first time these teammates have been shown more than a rule book, script, etc. to work from. It’s a revelation. We create immediate buy-in, excitement and employee retention. And we don’t stop.
Every week we showcase our company V/TO (Vision, Traction Organizer). This showcases our goals, financial situation, and projects across the company. Not all details on this document can any one teammate affect or influence, but our transparency creates “intrapreneurs” (people who feel like they run a business within a business).
I can’t stress how valuable being uncomfortably transparent with your offshore talent can be on productivity and retention.
Nurture your past offshore talent, awesome project-based help in the future.
My company Sales for Life won a large project with a past customer. This project has some IP design work that can leverage offshore talent for content development. Rather than jumping on UpWorks, and scrambling for ideas, we were able to dip back into our past employee pool. Why? Because we:
Created a great working environment when they were with us (see Transparency)
Keep in touch post our working relationship as project-based, and/or fractional opportunities may arise in the future.
Your past employees might be able to jump into projects for you, allowing you to execute ASAP.
How do we execute this tactically:
No 1 tactic for us is our Pipeline Signals WhatsApp channel(s). We have channels open to everyone that has/past worked with us. This keeps your offshore talent pipeline warm with our progress/progression, and creates a surprising referral network as well.
Don’t Forget – Benchmark your team against offshore talent.
- What is the profit increase you could expect?
- What is the sales relief/reprieve you could expect to generate the same profit?
Get ready to be shocked!