Latest / Scrappy but Successful [Consultant's Personalities When No One's Watching] / 61. Hustle to Engine: Building a Sales Machine Beyond the Founder with Matt Lauro
Transcript
- 0:03What's happening, everybody? Welcome to Scrappy But Successful. This is a show where I sit
- 0:07down with your favorite consultants and we find out if they're successful today because they're
- 0:12sophisticated or because they're a little bit scrappy. I'm your host, Jack Tompkins, CEO of
- 0:16Pineapple Consulting Firm and Pineapple Analyst AI, always helping small businesses become more data-driven. Fun
- 0:21fact of the day, our guests alma mater. So, Virginia Tech, the school's mascot is
- 0:26named Hokie. A lot of people know that. But it was literally invented for a
- 0:30$5 prize. Some kid won a contest in 1890, and the name has stuck ever
- 0:35since. Big fan of the hokies, love their tailgates, but that's neither here nor there.
- 0:39Today I'm joined by Matt my friend Matt Lauro. He's the founder of Fractional CRO.
- 0:44he's got over a decade and a half experience in workforce solutions and recruitment. He's
- 0:49a revenue strategist who helps companies align sales marketing ops and the client experience. Basically
- 0:53the goal is to help them scale predictably working with teams. So Matt, thank you
- 0:58for joining, man. We've known each other for a while. We know that you're successful.
- 1:02The question we have for you today, do you think you fall more on the
- 1:07sophisticated side or more on the scrappy side?
- 1:10good question. Thanks for having me, Jack. And I did know that fun fact about
- 1:12Virginia Tech. I did know that. I
- 1:14Did you? Okay, nice.
- 1:16think every every freshman going at to going to tech knows that. But I would
- 1:20say a hundred percent on the scrappy side. and I'm very,
- 1:23Nice.
- 1:24very happy to admit that and talk about that and I d I do all
- 1:27the time with with other people that that call me up and ask for advice.
- 1:31So
- 1:32Okay, very nice. All right. So this is tried and true, through and through, whatever
- 1:35you wanna say. Is this is this from the beginning? Like take us back. Where
- 1:39did you grow up? Did you have some scrappy entrepreneurs in the family?
- 1:43Yeah, so I really honestly didn't grow up, I would say, in an entrepreneurial kind
- 1:47of family. My my dad was a police officer. So he he kind of grew
- 1:51up through the ranks and ended up being chief in for the US Park Police
- 1:56in DC, which was awesome to kind of see that. But that was a very
- 2:00typical normal job. my mom maybe more kind of on the entrepreneur, but kind of
- 2:05always in the corporate space. I would say probably the scrappiness came from well, you
- 2:09know. back in the day, I two younger brothers always kind of looking to make
- 2:14extra money so that we can go buy, you know, go to the toy store
- 2:18and buy something. So lemonade stands, you know, pictures to try to sell our parents
- 2:23for a couple of dollars here and there, doing chores around the house. So like
- 2:27that that kind of approach of like money actually got me what I wanted. I
- 2:32lost that to be honest, Jack, over like the last fifteen, twenty years in the
- 2:36corporate space because I was just kind of trying to climb the corporate ladder where
- 2:41I think probably came from from my dad and kind of his corporate journey through
- 2:45like the law enforcement. and then and got it back when I started fractional CRO
- 2:50and I think the scrappiness has followed the last couple of years, which has been
- 2:54fun.
- 2:55Very nice. Okay, cool. So as a kid, you're go you're running around with your
- 2:58three brothers saying, Hey, where can we make a couple bucks? You do the lemonade
- 3:02stand. Are you collecting anything?
- 3:04Yeah, no, collecting money. I mean it didn't sit in our piggy bank.
- 3:06Collecting money.
- 3:08It didn't it didn't sit in our piggy bank very long, you know, we were
- 3:09going
- 3:10Okay.
- 3:11out and spending it right away. But yeah, we did collect stuff just to ultimately
- 3:14get what we wanted.
- 3:16Okay. Did you collect anything like Pokemon cards, baseball cards, anything like that?
- 3:19collecting that I've yeah, I mean we I collected stamps, which is kind of weird
- 3:23and I look now. I have two younger two younger sons and they look at
- 3:28my stamp collection, they're like, That's weird, Dad. Like why why do you discount that?
- 3:32but they did really like my soccer cards and baseball cards and football cards that
- 3:37I collected. So some kind of old school I I was born in the eighties,
- 3:41so to them feels old school kind of cards and I pass those all down
- 3:46to them and they're super into collecting cards now with them and their friends, which
- 3:50is awesome. so yeah, collected that and then very random thing. I don't have any
- 3:55of them anymore. two random things. One pogs. I don't know if you remember if
- 3:59you grew up with Pogs, we had
- 4:02Sure. Yeah.
- 4:04sleeves and sleeves of Pogs, me and my brothers. And then I played soccer growing
- 4:08up most of my life. So we would go to tournaments and everybody would trade
- 4:12pins. So like actual little metal pins and you would have like a bag of
- 4:16pins and you would have your team pins and trade them back and forth with
- 4:20different teams from around the country, which was cool. But I have no idea where
- 4:24that is. I assume it got lost in somewhere in my family house. but I
- 4:28I do still remember collecting that. It was pretty cool back in the day.
- 4:32That's pretty good. Okay. Ever ever the aspiration of hey, maybe one day these would
- 4:36be worth a couple of bucks and it'll make me rich?
- 4:39I think I probably had that, right? Now I see it through my my sons,
- 4:43my especially my oldest son who's nine, his eyes. I mean, he is collecting and
- 4:47now hopping on the iPad and like, this card is worth three dollars or four
- 4:51dollars. And I I've kind of tried to pass down the entrepreneurial spirit and the
- 4:55scrappiness to him. So we he had a whole box of Pokemon cards. For example,
- 4:59we went to a Pokemon shop here in Charlotte because he wanted to make money,
- 5:03he wanted to sell them on eBay, unsuccessful, went to the Pokemon shop. spent about
- 5:08fifteen, twenty minutes the guy sorted through them and then gave him forty dollars. And
- 5:12he was upset
- 5:13Okay.
- 5:14'cause he had in his mind something bigger, you know, because he searched all the
- 5:16cars and thought like, you know, obviously looked at the highest price. I was like,
- 5:20that was forty dollars that, you know, was just sitting in a drawer. Now you
- 5:24can go and spend it on something else or invest it in something else. So
- 5:28ultimately I think it was a good lesson in kind of entrepreneurialship and you know
- 5:31changing something for something better or something that you want more. So
- 5:35Yeah. That's I mean, especially at nine years old, like that's a pretty big lesson
- 5:38to learn, I imagine.
- 5:40Yeah. Yeah. So it was it was good. He was a little upset that he
- 5:43didn't get as much money as he wanted, but then he ended up going and
- 5:46investing it in in soccer cards, World Cup soccer cards. So he he he was
- 5:49happy after that. So Yeah. Exactly.
- 5:51Okay, we've got a nine year old investor in the family. All right, cool. are
- 5:56you guys big Charlotte FC fans?
- 5:58Huge season ticket holder since the beginning. So yeah, I'll actually I'll actually be going
- 6:03this weekend for my son's birthday to the
- 6:06Nice.
- 6:07so yeah.
- 6:08that's super cool. That's awesome. Okay. All right. Give me give me thirty seconds on
- 6:11today. What the heck do you do today? What the heck is a fractional CRO?
- 6:15And then we're gonna build a bridge from you collecting stamps as a kid to
- 6:19today.
- 6:20Yeah. Awesome. So yeah, fractional CRO is really combining sales and marketing, which I've I've
- 6:25done both kind of in the corporate space, and looking at sales and marketing to
- 6:30drive ultimate pipeline. Right. So fractional CRO was built with combining those two typically siloed
- 6:35pieces of an of an organization. And really as I've formed the business over the
- 6:40last several years, I found really the crux of where my services come in. Is
- 6:45when those founders are driving all their business, they're scaling their business based on their
- 6:50relationships, their network, you know, they are the ultimate salesperson. There becomes an inflection point
- 6:55where they need to get out of the sales leadership role and really build out
- 7:00that engine that scales beyond them and their relationships. So that's really where fractional CRO
- 7:05comes in. and so my days are, you know, working with founder-led businesses, you know,
- 7:10here locally in the Charlotte market, but really nation and now inner I've brought on
- 7:15a couple international customers that are looking to enter the US market, so international as
- 7:20well. helping them, you know, build up their pipeline, build up their go to market,
- 7:25and ultimately drive, you know, scalability within their organizations. There you go. You could get
- 7:30them connected.
- 7:31Nice. Maybe maybe they want to buy some World Cup soccer cards too. You never
- 7:35know. Okay, very cool. So if I if I'm a founder, I'm a founder-led company,
- 7:40whatever, five, ten employees, something like that, and sales are not stalled, but maybe flat
- 7:45or not growing as much as I want. The knee-jerk reaction is, all right, well,
- 7:50let me go hire a VP of sales or a sales rep or like that.
- 7:55One hundred. Yeah.
- 7:56Is that I'm assuming that's not a hundred percent the case, right? There's gotta be
- 8:00some sort of maybe a CRO works better in other situations, right?
- 8:04Yeah, I actually just wrote a blog about this recently because it is a topic
- 8:08that continuously comes up in a lot of conversations. I've seen a lot of founders
- 8:12go down that route. And I would say that honestly, I said 100%, meaning like
- 8:16that's typically the knee-jerk reaction. It's not the right, it's not the right move typically.
- 8:21Yeah.
- 8:22So throwing people or throwing technology at a problem, you from a technology probably know
- 8:25this and see it firsthand, usually never solves the problem. It just kind of throws
- 8:29that band-aid on there. And that's the same with a a head of sales. So
- 8:33Couple things, right? You're going to hire somebody, they're going to sell themselves because they're
- 8:38good at set selling, right? So they're going to sell themselves that they're going to
- 8:42bring over this book of business, that they have all this, they have all that.
- 8:46A lot of times, if your sales process is, there is no sales process, it's
- 8:50non-existent or it's broken, no matter how good the salesperson is, they're not going to
- 8:55be able to drive the type of impact you're expecting, right? Even if they bring
- 8:59over books of business and stuff like that, it's not going to be that scalable
- 9:03growth that you're looking for. So typically, a lot of times and I've seen like
- 9:07I said founders hire the salespeople, you know, spend a lot of money on them
- 9:12and then they just don't produce a year. And there's activity here and there, but
- 9:16nothing really comes out of it. The smarter route and a lot of founders are
- 9:20now that I'm talking to are seeing this of having somebody like myself come in
- 9:24and really build that that process. So that process enabled by technology, that sales process
- 9:29that you could ultimately pass it on to a sales leader to then drive forward
- 9:33and and drive the team forward. Or you don't even maybe need as senior level
- 9:37of a person as you initially thought. You could bring on more junior people because
- 9:41the process is so buttoned up that they all they need to do is kind
- 9:46of follow that step and let the technology do a lot from kind of the
- 9:50back end. so that's really a a lot of the conversations, especially recently. I think
- 9:54it's becoming more and more you know top of mind for these founders of like
- 9:58I could go and hire a VP of sales, but it's gonna be, you know,
- 10:03150, 200, you know, all in, you know, six figures, high six figures, or I
- 10:07could bring in somebody on a fractional basis to build the engine and then have
- 10:11somebody go run the engine down the road.
- 10:14Okay. And you come from the staffing and sort of like the recruiting space quite
- 10:19a bit too.
- 10:20Yeah.
- 10:21Is if somebody if a founder brings on somebody and they're doing okay, but to
- 10:24your point there's they're never gonna reach as much as the founder did, is the
- 10:29knee jerk reaction then to be like, well, I made a bad hiring decision?
- 10:34Sometimes it is, right? Sometimes usually the underlying is that the the sales process is
- 10:38broken, right? The edge and that that salesperson is supposed to be moving forward is
- 10:43just not there. It's not it it doesn't exist or it's broken. And that sales
- 10:47leader, you know, typically, depending on their background, but most likely 95% of the sales
- 10:52leaders aren't looking at what a CRO looks at and aren't understanding kind of the
- 10:57intricacies of the sales pipeline and the data and the conversion. version points and all
- 11:01those things that we look at as a CRO. So they might not even see
- 11:06it, right? They might just, I need more activity, I need more activity. We're targeting
- 11:10the wrong person and make shifts, right? Where those shifts can be detrimental to the
- 11:15business, right? If they're not made the the right way. or kind of with the
- 11:20right lens on. So yeah, that is t normally the knee knee jerk reaction. The
- 11:24knee jerk reaction should be, hey, let me look a level below that person and
- 11:29see if our actual sales approach and go to market approach is the right approach.
- 11:34Yeah. Yeah. Yeah. It makes so much sense, especially in the world of AI. Like
- 11:37you can build out a lot of processes and then insert the human into the
- 11:41right spots or something along those lines.
- 11:43Hundred percent.
- 11:44I have you always had this? Like what what what was the very first job
- 11:47in high school? What were you doing?
- 11:49Very first job in high school, I was for several years actually in high school,
- 11:53I was a banquet server and waiter at a country club in Chantilly, Virginia. So
- 11:57Ooh, okay.
- 12:00yeah, I was serving in like the little grill area at the country club and
- 12:04then we would do weddings and big events and stuff like that, you know, big
- 12:08banquet. kind of events which was which was fun. I had then buddies that worked
- 12:12in the golf pro shop so we would get to hang out at work all
- 12:16the time. but yeah it was an interesting interesting environment for sure to be in.
- 12:20Yeah. I've got some nice tips are getting thrown around there too. And did you
- 12:24still have that same mindset of all right, I just made money, let's go spend
- 12:28it. Okay. Okay.
- 12:29No, definitely not anymore. Now I mean now I mean to a degree, right? I
- 12:33think there's certain things that as a family, right, we definitely value over others from
- 12:38spending money on this versus that. but you know, as as you know, when you
- 12:42grow up and then you have more responsibilities and it's not just you anymore. You
- 12:47you know, I have a wife, I have two kids, two dogs, right? There's a
- 12:51lot of people and you know, living beings that are relying on me. So I
- 12:56need to make sure that I'm not just going and and spending money willy-nilly. so
- 13:00it's more of, you know, working and and making the money to get to the
- 13:05means of, you know, what we want to do as a family.
- 13:09And so with that I have to imagine the the leap from the cushy corpor
- 13:13I won't say cushy, but like the corporate job of security to starting your own
- 13:17business, what was it four years ago now, five years ago?
- 13:20Yeah, so full all in. I was doing it as a side gig, kind of.
- 13:22I was
- 13:23Yeah.
- 13:24in the corporate space and then doing this on the side with just some kind
- 13:27of founder led businesses in Charlotte. and then I made the full leap early last
- 13:31year. So it's been about a year and a half now. fully.
- 13:34And how was that conversation in the house? Was that like, hey, I'm finally doing
- 13:37the thing or was there was it nervous? How wasn't?
- 13:40it was definitely the good thing is I was kind of already doing it a
- 13:44little bit at a very small scale on the side, so it wasn't like totally
- 13:48blank slate. but for sure it was it took my wife probably three to six
- 13:52months to kind of wrap her arms around like, okay, this could actually be something
- 13:56viable. and this is and you say security, which is funny because I was I
- 14:00would always say like that security as well in the corporate space, but to me
- 14:04it's it's a false sense of security. you quickly realize, I mean, pop up LinkedIn
- 14:09on any day, right? And there's people that have been in bus in the corporations,
- 14:13you know, companies for 10, 15, 20 years. And then at a drop of a
- 14:17dime, you know, consultant comes in, a new leader comes in, a market shifts, and
- 14:21they're out of a job, right? So you have this false sense of security that
- 14:25everything's good. You're in this big corporate environment. But at the end of the day,
- 14:29I hate to say you're just kind of a number or just a wheel, you
- 14:34know, a cog wheel and a cog wheel or however you say that saying. But
- 14:38I mean, it it's sad, but when you've kind of gone to the other side,
- 14:42you realize like it wasn't as secure as you maybe thought, right? I think you
- 14:46actually have more security doing your own thing because you create your own destiny, right?
- 14:50And I that was always told to me by entrepreneurs that I know, family, friends.
- 14:54I just never understood it until I made that leap myself.
- 14:58And how did you start it on the side in the first place? What was
- 15:01there an aha moment or you're just tired of corporate? Like what's what's because you
- 15:05you did it the right way, it sounds like. You got experience, you started on
- 15:09the side, worked out a few years, made sure that everything was set up and
- 15:12then built it. Like how do you actually jump into that entrepreneurial environment?
- 15:16Yeah, so I I've always I've always wanted to do something myself, right? I've always
- 15:20kinda wanted to be my own boss. I always it was I I didn't want
- 15:24to make the jump just from Corp and just one day start a new business
- 15:28because I have Like I said earlier, I have a lot of people relying on
- 15:32me, right? So I needed to make a little bit more of a calculated thing.
- 15:36So I really I have some friends here that are part of like EO and
- 15:40Charlotte and have their own companies and just kind of threw together some like one
- 15:44page business plans like we all do at the beginning and shared it with them,
- 15:48got some feedback, and then just started to get my feelers out there and like
- 15:52some of my original cus you know, customers that, you know, I I brought in
- 15:56were friends of friends, right? That just, you know, hey, this is a need, let's
- 16:00do it. And I quickly realized in those kind of conversations that I, and I
- 16:04don't know how you feel when you started your company, but I always felt like
- 16:08would people really pay me for what I know and what I'm able to do?
- 16:12and you quickly realize when you're in those conversations, like the 20 plus years of
- 16:16experience I've had in corporate and living international and working in different cultures, all of
- 16:20this like to me feels like it's just kind of common knowledge because I've grown
- 16:24up in that space and I've learned it as I've gone. to founders that haven't
- 16:28been in that space, it was like a lot of really just different ways of
- 16:32thinking and things that they would never even think about or be able to plug
- 16:37into a Google or an AI and and come up with. So that level of
- 16:41just like I guess expertise to a degree and it still feels uncomfortable to kind
- 16:45of say that people pay you for your expertise. But that level was really it
- 16:49was like a light bulb moment of hey, this could actually this could actually be
- 16:53something right. So I was, yeah, I was just doing some smaller kind of client
- 16:57engagements on the side. I was running global marketing in the corporate space. and I'm
- 17:01glad I did it that way because, you know, I sat down with my father-in-law
- 17:05who's a business owner, and he kind of told me years ago, he's like, basically
- 17:09what I just said, you have a family, you know, you need to be smart
- 17:13about it. You need to maybe probably get a couple more years, build up your
- 17:17network, and then you can go do something on your own. And that's what I
- 17:21did. And I think I I did it at the right moment where, you know,
- 17:25I kind of eased into it, left the corporate space and then was able to
- 17:29kind of, you know, fire on all cylinders once once the corporate job was behind
- 17:33me.
- 17:34Very n I mean, it's it's a sophisticated way to go about it. was it
- 17:38are you a patient person? This feels like you're you're doing it very methodically. Is
- 17:42that a natural tendency for you? Or were you at some point like screw it,
- 17:46I'm just gonna do it?
- 17:48No, I'm very I'm very patient and probably very populated
- 17:50Okay, okay.
- 17:51when it comes to that. I think I don't feel like I come across, but
- 17:55I've had people, clients, friends, family tell me I come across very process oriented, which
- 17:59I don't see I see myself more on the creative kind of ideas strategy side,
- 18:03but people say I come across much more process oriented. So I think hopefully I
- 18:08have a mix of both, because I think that makes actually a strong CRO.
- 18:12Very much so. for the purpose of this show, very scrappy and sophisticated at the
- 18:16same time.
- 18:17Yeah, exactly. So I guess to answer your initial question it's probably a little bit
- 18:19of both, but I feel like it's more scrappy than anything.
- 18:21Right. Gotcha. Okay. Anything that you really overthought when you were starting your business, especially
- 18:28when you went full time.
- 18:31I probably I mean, so overthought and keeps me up at night are two different
- 18:35things. I mean, the overthought is I probably overthought kind of the pricing and like
- 18:40my approach and I don't know, coming from like a marketing mindset and marketing roles
- 18:45in the corporate space, probably like kind of how I came across, right? And at
- 18:50the end of the day I realized like customers really at this stage at least,
- 18:55right? And as I scale and grow, this will change and evolve, but they're buying.
- 19:00me right so like it doesn't really matter how my proposal comes across or how
- 19:05this comes across like actually now move some proposals are just an email communication back
- 19:10and forth right I'm not even spending the time to build out a full on
- 19:15three four page nicely designed proposal because I don't think that ultimately matters right if
- 19:19you're if you're delivering kind of the impact that that individual that the founder wants.
- 19:24so I I think I've probably overthought those elements just because that's kind of the
- 19:29background that I've come from like everything needs to be
- 19:33Yeah. I so on that note too, you're a you're a CRO, you're an expert
- 19:36in the field. How the heck do you price for fractional services? I think this
- 19:40is a larger conversation for a lot of different fractionals, but how the heck do
- 19:44you actually set a price?
- 19:46So that I think is one thing that I've constantly struggled with. I think I'm
- 19:50at a much better spot now. you know, when you start off a business, you're
- 19:54kind I mean you could run Google searches and all this, but it's just i
- 19:58the you have a couple of things working against you. You fractional is a newer
- 20:03term in the space, right? So you're not really a consultant, like so you can't
- 20:07compare yourself to the big consulting firms. You're not a contractor, so you can't compare
- 20:11yourself to a contractor coming in at an hourly rate. so there's really no data
- 20:15to kind of back it up. there's more and more now, more people are coming
- 20:20into the market in fractional space. CRO is also a newer term. So a lot
- 20:24of my you know, conversations with founders is a lot of education on like what
- 20:28is a fractional, how do you engage a fractional properly? What's the impact a fractional
- 20:32makes versus a full time hire versus contractor versus consultant? And then CRO being a
- 20:37newer term, right? Like I'm not coming in and leading your sales, but I'm not
- 20:41coming in and leading your marketing. I'm doing both, right? And I'm connecting the dots.
- 20:45So The pricing, I mean, I I want w again, kind of the scrappiness just
- 20:49went and asked some people like, Hey, you're a business owner, what would you pay
- 20:54for this, right? and I've kind of now come to a conclusion where probably like
- 20:58a lot of people in my role, you undervalue your cost and you kind of
- 21:02lowball it just to get the business. And I definitely did that at the beginning.
- 21:06I now I'm at the point where there's a bottom and I won't go below
- 21:11that because I I know the value. And honestly, there's only so many hours in
- 21:15the day. Right. So I I only have so much time and I wanna spend
- 21:19my time on the clients that are gonna value me, but I typically kind of
- 21:23have tiers, right? Like fully embedded CRO, dedicated time, you know, like that's that's the
- 21:28highest tier. So there's like more of a mid tier where I'm an extension of
- 21:32your team embedded and then more of like an advisory tier. And they're based on
- 21:36I don't I don't charge myself powerly. It's a monthly retainer cost based on a
- 21:40set kind of like range of hours. because I also know two things. I don't
- 21:45want to overcharge you if I'm really slow and bad at what I do. Like
- 21:49I don't want to be that loyal. that just charges for hours. I don't think
- 21:53that's valuable. Two, I want it to be simple to engage with me in my
- 21:58services. So, you know, if you're a founder, you have a lot of other expenses,
- 22:02a lot of other things that I want you to just know, okay, every single
- 22:06month, this is going to be the charge that I have to pay Matt to
- 22:10keep him on board. And then third, a lot of stuff comes up, right? So
- 22:15I might, you know, say I'm gonna dedicate 20 to 25 hours a month to
- 22:19your business. The beginning is probably much more than that, right? I'm probably dedicating 40,
- 22:2350 because I'm really diving in. We're building out some foundational stuff. And then it
- 22:27might go back to more of a 2025 in three, four, five, six months, but
- 22:32you're not fluctuating kind of your, you know, your retainer because of that, right? It
- 22:36kind of just evens out. so a much more of a simplistic, you know, one
- 22:40page consulting agreement. simple retainer fee that we agree on and make it as easy
- 22:44as possible to engage because I think that goes a long way you know with
- 22:49the type of buyer that's buying these services, you know, the founder that has a
- 22:53million other things going on. So that's how I've I've done it. I just I
- 22:57still don't think I'm perfect, right? I think I probably still have some improvement to
- 23:01refine that even more, but I feel like I'm in a really a much better
- 23:06spot than I was like a year ago for sure.
- 23:09Okay. Okay. Yeah, that makes sense. That makes a lot of sense. There's a there's
- 23:13a safety in expectations of the flat fee on a monthly basis for a client.
- 23:17how do you how did you get your first clients? Were they all referral based?
- 23:21Did you do any like ridiculous marketing to get those first clients? How did that
- 23:25happen? Okay.
- 23:26All referral based. so we're just yeah, friends of friends or you know, honestly now
- 23:30if I look back even over like the last year and a half, a a
- 23:34third of it comes from referrals, a third comes from LinkedIn. So I do a
- 23:39lot of posting on LinkedIn, just kind of personal updates, business stuff, you know, people
- 23:43will come in, either new prospects or people that have been in my network, right?
- 23:48And have just seen that I'm doing this type of work will come in. and
- 23:52then the other third is my website. So there was a reason I chose fractional
- 23:57CRO as my name because I don't have to pay for, you know, Google Ad
- 24:01Space and stuff like that. People are searching it. So now more and more people
- 24:06booking directly on my website, meetings, prospect meetings. with me. I asked them, you know,
- 24:10how did you find me? And a lot of the times it's, you know, I
- 24:15was it's like a chat GPT or some other AI module and doing searching and
- 24:19fractional CRO popped up. So it's the website for sure, but then it's the constant
- 24:24kind of content and updating of the website to make sure it's you know ranking
- 24:28properly. But I would say it's very evenly if I look kind of at my
- 24:33pipeline and existing customers, it's a third referrals, a third LinkedIn and a third, you
- 24:37know, direct to the website.
- 24:39Pretty good. That's pretty good.
- 24:40Yeah.
- 24:41You were drinking your own champagne. I respect it.
- 24:43Yeah, exactly.
- 24:45anything that you did where you're like, like 100%, we can totally do that. Absolutely,
- 24:49very confident in it, but you've never actually done it before.
- 24:53I think just being a fractional CRO, right? Like You
- 24:55Yeah.
- 24:57know, I mean it's a brand new thing. So I, you know, is coming from
- 25:00the corporate world and you know, hey, we we want to do this engagement. Great.
- 25:04Yeah, I'll like can you you know, can we get started? Can you, you know,
- 25:07can you build you I mean, my first customer actually was the one that pushed
- 25:11me to a monthly retainer. I was initially Set to do project work. My big
- 25:15thing was do a gap analysis, dive into the business, spend a couple of weeks
- 25:18with them, come back with a big report so your typical kind of consulting. And
- 25:22then on the back of that report, have a list of projects. You know, we'll
- 25:26define your ICP, we'll build out your go-to market framework, we'll build out your outbound
- 25:29approach, whatever that is. And the first prospect, you know, a friend of a friend
- 25:33here in Charlotte was like, Can you just come on a monthly, you know, retainer
- 25:36basis and just be part of our leadership team? And that was also like a
- 25:40light bulb moment where I was like, okay, that actually makes my job a lot
- 25:44easier. I'm not having to sell every two months a new project to you, right?
- 25:47I could just kind of come in, roll up my sleeves, and do the work
- 25:51that I enjoy doing. So but that too, I mean, I remember sitting like in
- 25:55the parking lot getting the text that they want to brought me in. I'm like,
- 25:58that's awesome. But I was like, what do I need to do next? How do
- 26:02I price it? What how am I going to structure this? Like, how is this
- 26:05going to work? Like hopefully they see that hopefully I'm able to drive the impact
- 26:09that I know I can like all those kind of questions come up. But you
- 26:13know, you just kind of that's the scrappiness side. I think you just kind of
- 26:16figure it out as you go. And the end of the day, I have to
- 26:20constantly remind myself, like, I've done this, I've I've been in these these seats before.
- 26:24My f the founder that I'm working with has it. That's why they're reaching out
- 26:27to me. and so I'm gonna guide them a lot better than any other kind
- 26:31of tool out there that they might, you know, tap into. And I've had founders
- 26:34say, you know, I could figure this out, like with the AI models out there
- 26:38and all of that, but like I don't wanna waste time and money. trying to
- 26:42figure this out. I'd rather somebody come in that knows how to do it. So
- 26:45that's been reassuring that I actually know what I'm doing and founders see that. But
- 26:49in the background, I mean, I'm sure you're the same way. You're kind of figuring
- 26:53it out as you go when when it comes to certain things.
- 26:56Absolutely. I'm I've been in business for six years and I am still very much
- 27:00figuring out as I go in so many different ways. when did you actually when
- 27:04did you kind of accept or admit to yourself or however you phrased it that
- 27:08you actually are the expert that they're bringing in and your voice does carry a
- 27:12certain weight on your expert topics? How long did that take?
- 27:16I I th I still think there's elements of me not fully feeling that, right?
- 27:20I think there's I feel a lot more confident now. And I think some of
- 27:24the things that validate that that confidence and like I have expert voices, I don't
- 27:28know, things as simple as like posting my thoughts or ideas on LinkedIn and seeing
- 27:32people outside of kind of my, you know, there's always you're always going to have
- 27:37those kind of friends and family that are liking your comments and stuff. But when
- 27:41you start to see other people that are also kind of experts in their field
- 27:45engaging on your content, you're like, okay, well, I do have something to say that's
- 27:49valuable and is actually aligned to how other people think or, you know, in that
- 27:54direction. And so that's very reassuring when people do that or people have had some
- 27:58recent prospects, you know, they've seen a video I've posted or something they've really enjoyed
- 28:02and they watch, you the whole 10-minute video. I'm like, wow, that you've spent 10
- 28:06minutes watching a video of me talking about a topic is there's something valuable there,
- 28:10right? I just I never see myself as yeah, like people will pay or like
- 28:15spend time on that, the stuff I have to say. But now, especially over the
- 28:19last year and a half, when I've been doing more and more of that. it's
- 28:23reassuring, like, okay, it there is some value here, right? Like they are seeing some
- 28:27value. I'm bringing something to the table that they haven't had before. and I think
- 28:32that that boosts not only my confidence, but also the confidence of like the overall
- 28:36business, that there is a very clear opportunity here. and it's a very big need,
- 28:40you know, for these for these types of businesses.
- 28:43I I have a very similar thought when people watch a video that I produce
- 28:46or something like that. I'm like, I have you heard of Netflix? Like there's a
- 28:49lot better things out there. Like
- 28:51Mm-hmm.
- 28:52I really appreciate it, but that's crazy, you just spent ten minutes on that.
- 28:55Yeah, I mean like I I'd much rather watch Ted Lasso. like I didn't last
- 28:58Right.
- 28:59besides, you know, watching me talk about go to market frameworks, but you know, whatever
- 29:02it is.
- 29:03Exactly. Yep. To each their own. And if it works out for us, it works
- 29:06out.
- 29:07Yeah.
- 29:08this is a this is a scrappy fractional thing. Do ever try and create a
- 29:11consortium where like all right there we're eight fractionals all in different spaces? If we
- 29:15all band together, we can get a really big client. Do you ever do anything
- 29:19like that?
- 29:20I have a couple of those things kind of in flight. Like I have a
- 29:24past colleague of mine that's a fractional CHRO. We've tried to kind of go in
- 29:28and combine on some stuff. I have a marketing agency out of South America that
- 29:32he's trying to enter the US market. So we've gone in on some deals together,
- 29:36kind of like I do the strategy execution. He does like the marketing side of
- 29:40it, like paid and all that. I think that potentially has some really good legs.
- 29:45I have a couple fractional CROs, like ten ninety-nines that are part of the fractional
- 29:49CRO team. So they're going out and building their own books of business. but then
- 29:53I'm also bringing business and leads into them, right? And then kind of passing those
- 29:57leads down to them for them to go and deliver. I honestly think that's probably
- 30:01the way I can grow and scale the business, right? Because like I said earlier,
- 30:06there's only so many hours in the day. I can't bring on 20 clients and
- 30:10have time with all those 20 clients to deliver what I need, but I could
- 30:14have other really strong fractional CROs in different spaces. but A lot of I have
- 30:18people reaching out to me all the time that are either trying to get into
- 30:22the fractional space, that are in the fractional space and just want to kind of
- 30:27partner. And so there's a lot of those kind of connections and conversations going on.
- 30:31Nothing's like fully materialized, but I've always am open to a conversation with somebody like
- 30:35in a parallel or similar space because you never know what's gonna happen. Like I
- 30:39talked to a guy out of California, I've kind of been staying in touch with
- 30:43him. We have a new opportunity that came in to fractional CRO. He's probably a
- 30:47really good fit. So it's probably something that we can team up on together. But
- 30:52I would have never known that if I said no to that, you know. competitor
- 30:56that was wanting to talk to me and have a conversation, right? So I'm I've
- 31:00really realized w since I've gone into my own thing, I will literally have a
- 31:04cup of coffee and a 30 minute conversation with anybody. because there's I feel like
- 31:08there's always some type of value, right? Like unless they're trying to sell me something,
- 31:13which sometimes annoys me, like I think a lot of founders probably, but I think
- 31:17if you're just building relationships and kind of understanding what each other does, helping each
- 31:21other out, like you never know. I think that's kind of the fuel and like
- 31:25all like the the key kind of pieces that ultimately come together down the road,
- 31:29right? Like that's how you start to build up referral networks and funnel and all
- 31:34of that is by having all those people kind of your eyes and ears out
- 31:38in the market and you the same for them. So
- 31:41Yeah. No, definitely agreed. I think the the fractional community is pretty strong and it's
- 31:46much more collaborative than competitive for the most part.
- 31:49Yeah, for sure.
- 31:50selfish data question for you. As you know, I'm a data guy. You're in charge
- 31:54of sales growing, I'm assuming is the main way that you continuously provide value or
- 31:59prove value. What are the main KPIs that you're looking at when you work with
- 32:04business?
- 32:05Yeah, so I mean there's some leading indicators for sure, of like just kind of
- 32:09sales activity, engagement meetings booked and stuff like that from a from a actual like
- 32:14once things are up and running and going, it's your typical close rates. So like
- 32:19what's our win rate? You know, we're bringing in X amount of leads. So we
- 32:24really look from a funnel of marketing qualified lead, sales qualified lead, opportunity proposal and
- 32:29win. So that full funnel, looking at all those all those metrics. And then I
- 32:33think the biggest that sometimes is overlooked is really the client experience side of it.
- 32:38So I really think
- 32:40Mm-hmm.
- 32:41of about it's a bow tie model is what I I implement with my clients
- 32:45so you look at the sales funnel you turn it on inside and then you
- 32:49look at after client acquisition the other side so it's a funnel kind of growing
- 32:54the other way bow tie right that piece is a huge amount of opportunity for
- 32:58a lot of clients right so you brought this person in they understand who you
- 33:02are they're obviously a customer of yours they see value how do you grow and
- 33:07scale that side of the business right and there's a lot of things you do
- 33:11on the new net new logo sale right and a lot of the clients I
- 33:15work with are in B2B that you can implement on the client side. So, how
- 33:20do you grow? How do you bring more lifetime value out of those customers? How
- 33:24do you add additional services, solutions, get referrals to go back into your, you know,
- 33:29net new side of the business? so that is a huge, like the lifetime value
- 33:33piece of existing customers and also retention, right? Because I have some customers where I
- 33:37mean, we can do everything we want from like the net new logo side of
- 33:42the bow tie. but you know, I call it the leaky bucket, right? Like you're
- 33:46putting in water and it's just falling on the other side, you're just constantly two
- 33:50steps forward, one step back, and you're just never gaining any traction, right? From a
- 33:55pipeline perspective and revenue perspective. So I would say those those typical kinds of sales
- 33:59and marketing you know, qualify leads all the way to opportunity and like the the
- 34:04conversions amongst that. And then most importantly, which is typically a blind space. But a
- 34:08lot of times is when a customer comes in, then how do you grow that
- 34:12customer? What's the value of that customer for the long term?
- 34:16Yeah. Yeah, it's much easier to sell to an existing client than go find a
- 34:20new one.
- 34:21Hundred percent, yeah. And but a lot of sales is focused on bringing in the
- 34:24new clients, right? Because that's the what the that's the chase. That's like the big
- 34:28game hunter, right? Like that's they want to go after that, which is fun and
- 34:32good and it does bring in revenue, but if you don't have that other side
- 34:36of the business buttoned up, you're gonna do a lot of work for a little
- 34:40return.
- 34:41And hence the leaky bucket. I like it. All right, let me hit you with
- 34:44some scrappy or sophisticated lightning round stuff.
- 34:46Okay.
- 34:47all right. Have you ever had to play the credit card timing game where you
- 34:50wait till tomorrow to charge something? 'Cause that's next month's statement. Yeah.
- 34:53Hundred percent, yeah. Yeah.
- 34:57Your expression was like, Yep, obviously. Moving on. any early clients that you regret, obviously
- 35:01you don't have to name them, but anything that you lost money on, maybe.
- 35:06there's definitely a couple of clients that, you know, everybody has those clients that didn't
- 35:10pay or just kind of, you know, didn't didn't agree, you know, agreed to the
- 35:14terms but then didn't, you know, follow the terms that you agreed on. So yeah,
- 35:19there's definitely some, but that helps me grow and realize who my ideal customer is,
- 35:23right? And who I should be working with.
- 35:26There you go. There you go. Yep. That's the positive spin. I like it. any
- 35:31was your initial I ICP or ideal client, was that right, or have you had
- 35:36to evolve it?
- 35:38My ICP was everybody. Like it's so it was actually everything that I I teach
- 35:41people not to do, right? More established
- 35:43Yeah.
- 35:44businesses is as a solar entrepreneur, right, at the beginning, it was just like anybody
- 35:47and everybody. now I've really refined that much more to like my sweet spot, which
- 35:51is the professional services space. Now I do have some customers outside of that, but
- 35:55that is really where I'm honing in on and I think that is definitely the
- 35:59right ICP for me. Now say in the other CROs in my space, you know,
- 36:03they have their different ICPs and that's why I brought them onto the team. So
- 36:08There you go. Okay. How do you feel about websites that are dot net?
- 36:13I mean, it's like people that have Yahoo email addresses.
- 36:19Very much agreed. do you ever do any barter agreements with other consultants or anything
- 36:26like that?
- 36:27I haven't they've I've gotten approached by some and I just I don't know, I
- 36:31don't really my time's too valuable, I don't really feel like dealing with that.
- 36:35Definitely, definitely agreed. Okay. all right. Within the home, ever ever use two previously used
- 36:42dryer sheets instead of one new dryer sheet.
- 36:46For sure. I'm sure I've done that.
- 36:49Okay, as a kid, any garage sales or yard sales where you were haggling with
- 36:54customers?
- 36:55Yeah, I mean, like I said earlier, lemonade, garage sales, like all of the above.
- 36:59you know, overpriced and then somewhere meat in the middle kind of thing. A lot
- 37:04of the garage sales are just you know, selling a bunch of my brother's crap
- 37:08and trying to make money off of it.
- 37:11Did your brothers know it was being sold?
- 37:14maybe not. But once I got older it was hard to realize for sure.
- 37:18Fair. Okay. any hot commodity as a kid that you had that immediate I'm gonna
- 37:24go buy that gold with?
- 37:27we grew up in like a cul-de-sac in Virginia that was huge into just all
- 37:32sports street hockey. So like when the new Nike rollerblades came out, it was like
- 37:37the hot commodity that everybody needed for Christmas. So I remember Christmas morning we all
- 37:42kind of got them. I I my dad, like I said, was a police officer.
- 37:47I got like the the you know, ones where you still had your sneakers tied
- 37:52into your like your roller blades where you strapped,
- 37:55Yeah.
- 37:56kept your sneaker on and they were kind of the blocky. So that was my
- 38:00original pair and then I had some friends that had the nicer pairs, but I
- 38:04eventually got up to those Nike like legit hockey inline skates. that was a huge
- 38:08Christmas eventually. So
- 38:09Nice. Okay. Did you ever do Heelys back in the day?
- 38:13You mean like the trick Healy's?
- 38:15The like that it was a shoe with a wheel in the back. You ever
- 38:20have those?
- 38:21I thought you meant like Heelys like rollerblade like moves or something. No, I never
- 38:25had Heelys, no, I never had this.
- 38:27Me neither. I I wanted but I never had all right, take me in
- 38:30I didn't have the light up shoes that were my my boys have asked me
- 38:32because light up shoes are still a thing apparently. If I had light up
- 38:35No way.
- 38:36shoes I had the light up shoes. But they said that those are like for
- 38:38really little kids now. They're like too cool for but they I thought they were
- 38:40pretty cool back in the day. Yes, they are, yeah.
- 38:42they're too cool now. Yeah, still are, some would say. all right, take me inside
- 38:47the office. How many monitors are on the desk that you use?
- 38:52I have two monitors and I have a client laptop like a client specific laptop
- 38:56that I've gotten from one client. So I have three monitors I guess, but typically
- 39:00working off two.
- 39:01Okay. Are those two monitors the same make and model? Nice, there we go. any
- 39:07business cards currently on the desk?
- 39:10No, I I don't I don't know. And I have clients too that sp we
- 39:14just spent thirty minutes talking to the marketing team of one of my clients about
- 39:18business card design. I'm like, why why are we still doing that? Doesn't make sense
- 39:22to me.
- 39:23It's so true in today's world. all right, anything really unique in the office? Any
- 39:27trinkets, any awards, anything like that that's really unique?
- 39:30yeah, I have some you Talked about Charlotte FC. have some Charlotte F C bobbleheads.
- 39:34so I we we go typically like two hours early before kickoff to be first
- 39:39in line to get our bobblehead. So I have a Tim Reem bobblehead and I
- 39:44have a Ashley Westwood bobblehead, and then coming up, they're gonna have a Christian Kalina
- 39:48bobblehead night. So we're gonna be there early. I have spent some time over in
- 39:53Europe. We lived in Europe for three years, so I have some different like trinkets
- 39:58like from my trips across Asia and Europe that kind of clutter the desk. Yeah.
- 40:03Okay. All right. I mean that's a that's a tapestry going on there. I like
- 40:06it.
- 40:07Yeah. Yeah. I have a I have a little cat waving at me now. So
- 40:10yeah.
- 40:11The classic one, yep.
- 40:13Singapore. Yep.
- 40:15Very nice. Okay. how many emails unread is too many.
- 40:22I that is kind of my like mental to do list. Like, so I I'm
- 40:26always clearing out my emails. I I went through some updates on my iPhone and
- 40:31for some reason it was pulling up all my old Gmail things and it drove
- 40:35me crazy. Every time I looked at my phone I had like two thousand, three
- 40:40thousand, five thousand emails. and it it like just it it it crushed me mentally.
- 40:45but now I got it fixed, so it's good. Like I typically zero emails in
- 40:49my inbox on red.
- 40:51Okay. Okay. Zero unread. Okay. Is there a total list that are in there, even
- 40:56though they are red?
- 40:58I come I mean I I've much more of a reader, either delete it if
- 41:02I'm not gonna need it or put it in a folder. So I have like
- 41:06all my client folders or different kind of key folders and file it away. so
- 41:11in my actual inbox right now for work I have eight emails. Yeah.
- 41:15Okay, that's pretty good. That's pretty good. ever gotten a review from a family member?
- 41:22a family member. No. No. I have I have though back in the day for
- 41:27a job, I'm pretty sure I asked like a family friend for a reference check.
- 41:33so that was yeah, I guess some somewhat similar. Yeah.
- 41:37That checks the box. That's crappy enough. all right, last one. Back of Virginia Tech
- 41:43at Duck Ponds. Did you ever see the rare albino duck?
- 41:48I mean if I did, I was probably too hungover or drunk like I remember
- 41:50it.
- 41:51Yeah.
- 41:53We did a lot of there was a five K sorority did a five K
- 41:57charity thing and I just remember going and running that around the duck pond and
- 42:02around kind of frat lap. I mean probably we were out till three o'clock the
- 42:07morning the night before and so I'm sure I saw it, but I don't remember.
- 42:12I love it. That's perfect. I could say more scrappy than sophisticated, but definitely have
- 42:16dashes of both going on, Matt. I love it. Yeah.
- 42:20Yeah. Well for that analysis. Appreciate it.
- 42:23It's completely data driven, I promise. awesome, man. What's coming up for you? Anything you
- 42:28want the folks out there to know? Anything you want to promote?
- 42:32no, I mean take take a look at my website, fractional CRO dot org. I
- 42:35am in the process of writing a book, so I'm very scrappy on that. hopefully
- 42:39the goal, right? I have it up on my clipboard behind my desk is to
- 42:43have it launched in November. So just yeah, be on the lookout. I would love
- 42:47to get it out there and get it up and you know, out on Amazon
- 42:51before before the holidays. I don't know if it people are gonna read it, but
- 42:55going back to what we said earlier, maybe people actually will spend the whatever I
- 42:59end up pricing it at, probably below $20, people will pay for it and and
- 43:03use it. So hopefully, but I have it written. my wife is is a past
- 43:07English high school teacher, so she edited it for me. So talking about Scrappy, I
- 43:11didn't go to a professional editor. She edited it a couple of nights
- 43:15Love it.
- 43:17instead. and so I have it ready to go. I just need to pop it
- 43:20on and and get it going. So but yeah, be on the lookout
- 43:23Nice.
- 43:24for that.
- 43:25And what what is it about?
- 43:27it is about moving from hustle to engine is the title of the book. So
- 43:30it's the idea
- 43:31Ooh.
- 43:32of founders really hustling and building their business and you know, all the stuff that
- 43:36we talked about today and what I hear from founders all the time of just
- 43:40kind of growing their business like scrappiness, right? Like you're like we're talking about. But
- 43:45then building that into a repeatable, scalable engine and how do you go about that.
- 43:49So
- 43:50Sounds like the perfect book for this audience. I love it.
- 43:53Yeah, yeah, for sure. And if you I have a sub stack actually that's set
- 43:57up. It's called From Hustle the Engine. So the same title sub stack where I
- 44:02post videos you know, where people actually do watch and do sign up for it
- 44:07looks like. but I have like a monthly subscription and a yearly subscription. that you
- 44:11can go on there and you get kind of every two weeks a new video
- 44:16talking about something go to market framework, the customer journey, living the brand, like all
- 44:21these kind of concepts and frameworks that I I work with founders on in their
- 44:25businesses, you can get, you know, as a master class video for myself.
- 44:30Nice. Okay. Yeah. Send us that link. We'll include it in here.
- 44:34Okay.
- 44:36Yeah, no, this is great, Matt. very much appreciate. We'll include the link and I
- 44:40can't say a hundred percent scrappy. We're gonna go eighty percent scrappy, twenty percent sophisticated.
- 44:45Okay, cool. I'll take it. I'll take it.
- 44:48Awesome, man. Thanks so much for coming on, Matt, and stay data driven everybody.
- 44:50Yeah. Thanks, Jack.