EP 165: Tracking Goals While Managing The Day To Day With Serial Entrepreneur Jessica Fialkovich

The Nitty Gritty

  • What Jessica Fialkovich’s daily life looks like as President and Cofounder of Transworld Business Advisors—Rocky Mountain, investor, and nonprofit board of director
  • How Jessica uses the bottom up approach for setting company goals
  • How goals are established among team members and how those goals influence yearly company goals
  • Why you should think about your business not as an extension of your identity but as a financial asset — and ways to shift your mindset
  • Jessica’s tips for efficient team meetings

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Jessica Fialkovich knows what it takes to start and grow a successful small business. And, she knows how to buy and sell them. Today, Jessica’s the President and Co-Founder of Transworld Business Advisors—Rocky Mountain and she strategically leads and supports her team.

In this episode, Jessica outlines exactly how she and her team set the yearly company goals. She also describes goal setting is a personal process — and how she works with each team member to create goals that work to motivate and inspire them.

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Setting and establishing yearly company goals

“I look at all of my team’s goals individually and then I roll them up into overall company goals. We usually establish somewhere between 3-5 goals for the year. Then we establish an overall theme.” — Jessica Fialkovich

Together with her team, Jessica sets a handful of yearly goals for the company. What do they want to accomplish? Who do they want to help? What’s their upcoming focus? Right now, Jessica and her team are setting goals for 2019 because they like to have them honed in on by the end of the year. As a team, they decide on a yearly theme as well. Their goal for 2019 is to take really good care of the buyers. “This is an area where we really can improve,” Jessica says.

Once the goals are set, Jessica summarizes them into one company document which is distributed to the entire team.

Empowering team members to set goals

“Most of the team are salespeople and salespeople are very goal-oriented to begin with. I talk to them about them running their own mini business underneath our business. As much as we do well, and as long as their business is increasing, they’re going to do well. Their financial rewards are tied directly to their performance.” — Jessica Fialkovich

Not only do you want to set goals, but you also want to empower your team members to reach them. Jessica keeps her team focused by hosting quarterly kick-off meetings to do just that. Every team member creates between 3-5 personal metrics for the year, including:

  • What is their gross commission goal?
  • How many deals do they want to close?
  • Is there a specific industry or niche they want to specialize in next year?
  • How do they plan to personally grow and develop next year?

Their goals also draw back to the company’s yearly theme.

Motivation and personalizing goals

“Show me what’s worked in the past and let’s amplify that for the future.” — Jessica Fialkovich

Every person is motivated differently. Some people are motivated by stretch goals that almost seem impossible to reach. It pushes them. Alternatively, some people resonate with more realistic goals that build off of their work the year before. These same people would be demotivated by such a big stretch goal.

That’s why Jessica works with each salesperson on a personal level. Together, they look at what happened in the past that worked (and what didn’t), plus what needs to change to reach that new goal. For example, maybe a salesperson wants to grow by 100% by this time next year but this year’s growth only sees 30% over last year. What needs to be adjusted so they can reach that?

“With those stretch goals, you have to stretch yourself, too,” Jessica says. “There’s personal development. There’s education. There are activities. There are things that have to launch you to that next level. And if they don’t have the time to dedicate it to this year, then let’s bring it back down to more of a past indication goal.”

Listen to this episode to hear more from Jessica Fialkovich on buying and selling your company, how to set and achieve ambitious goals, and how to see your business as a financial asset from day one.

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EP 299: How To Design Your Own Sales System

EP 299: How To Design Your Own Sales System

This week, I’ve got 4 more stories to share with you from small business owners who have intentionally done things their own way when it comes to sales and selling. They’ve found what truly works for them–even if it bucks the prevailing wisdom or would make a bro marketing expert role his or her eyes.

These stories come from business coach Ashley Gartland, marketing expert Amy Lippmann, designer Mel Richards, and work reinvention coach Lydia Lee.

Listen for how they incorporated these same considerations into finding their own unique sales systems. They designed their systems with personal values, strong relationships, reduced anxiety, and agency in mind.

EP 298: Creating A Less Harmful Sales System with Wanderwell Founder Kate Strathmann

EP 298: Creating A Less Harmful Sales System with Wanderwell Founder Kate Strathmann

This show is called What Works for a reason.

Sometimes it’s a declaration: this is what worked for this small business. And often, it’s a question, “What works?”

Today’s episode is very much a question, many questions, really:

What works when it comes to selling when you want to avoid manipulative or exploitative practices?

What works when your values conflict with many of the best practices of selling online but you still want people to buy your stuff?

What works when it comes to sales in a business that is actively anti-racist and anti-capitalist?

And even more bluntly: Can you even sell things without causing harm or perpetuating harmful systems?

My friend Kate Strathmann is the founder of Wanderwell, a bookkeeping and consulting firm that grows thriving businesses while investigating new models for being in business.

Recently, Kate took a bit of a detour from how she’s used to building her business, which is 90% referral based and fueled by deep relationship- and community-building. She decided to offer a small group program called the Equitable Business Incubator as a way of exploring anti-capitalist business practices and how they apply to the small businesses we’re building.

To fill the program, Kate need to sell differently.

Which led her to asking the question: Can you even sell things as a anti-capitalist?

While that might not be your specific question, I have a feeling that you too have wondering how you can effectively sell your offers without causing harm, perpetuating harmful systems, or damaging relationships. And that’s why I knew Kate and I needed to explore this topic on the show.

This is a conversation about what a kinder, less harmful sales process could look like—and it probably contains more questions than answers. But I’m confident those questions can help you find the answers that are right for you and the sales system that you want to build to make your business stronger.

We start out by defining what we’re really talking about when we talk about capitalism and anti-capitalism. Then, Kate shares how the Equitable Business Incubator came to be and how she ended up selling it. And then we dig into what makes many of the sales formulas and best practices being taught today problematic—and how to think differently to create your own alternative practices.

Now, let’s take a look at what works for creating less harmful sales systems!

EP 297: Selling A New Program With Proof To Product Founder Katie Hunt

EP 297: Selling A New Program With Proof To Product Founder Katie Hunt

Today’s guest is Katie Hunt—who is a member of the former group and serves the latter group.

Katie is the founder of Proof To Product, which helps creative entrepreneurs run and grow thriving product-based businesses. She works with designers, illustrators, and artists to help them develop in-demand product lines and get them sold in stores all over the world.

Not long after the pandemic threw her business and the industry she serves for a major loop, Katie and her team launched Proof To Product Labs to provide a completely digital, ongoing support opportunity for business owners when they needed it most.

And that launch was a smash.

Katie and I get into all of the nuts and bolts of how she adjusted the offer to meet the moment and how she warmed up her audience before the campaign, as well as the exact mix of emails, podcast ads, and social media content she used to sell the offer when it went live. We also talk about how she sees the sales system evolving in the future and how the offer has been received now that people are using it!

What Works offers in-depth, well-researched content that strips away the hype of the 21st-century economy. Whether you love the podcast, the articles, or the Instagram content, we’d love your support