Avoiding Churning and Excelling in Outbound Prospecting (with Steve Wallace)

Guest BioSteve Wallace is a seasoned sales professional and Chief Revenue Officer at Maverick App. With a background in insurance sales and a knack for outbound prospecting, Steve has honed his skills in building a book of business from scratch. Today, he focuses on training other sales agents and elevating their careers through effective business development strategies.Episode OverviewAre you ready to take your sales game to the next level? In our latest podcast episode, we sit down with Steve Wallace, a bootstrapped entrepreneur who has successfully built his business from scratch and climbed the ranks to become a Chief Revenue Officer.Steve shares his journey, the challenges he faced, and the tools and strategies that helped him succeed. From mastering outbound prospecting to leveraging free and inexpensive tools like Calendly and LinkedIn Sales Navigator, Steve's story is packed with actionable insights that you can apply to your own business.One of the key takeaways from this episode is the importance of reinvesting in your business. Steve consistently allocated 3-10% of his gross revenue towards business development, allowing him to gradually upgrade his tools and systems for better efficiency and productivity.Don't miss out on these valuable insights. Listen to the full episode now and discover how you can implement these strategies to grow your business.Episode Highlights:1. The Challenge of Churning:Steve explains the concept of churning in the insurance industry and why it’s essential to avoid it. Learn how he navigated this challenge and built a new book of business from scratch.2. Becoming a Prospecting Monster:Discover how Steve became an expert in outbound prospecting and the importance of combining quality, consistency, and persistency to find clients.3. Leveraging Free and Inexpensive Tools:Steve shares his journey from using free tools like Calendly to investing in paid versions and other business development tools like LinkedIn Sales Navigator and Maverick App. Understand the importance of allocating a percentage of your revenue towards business development.4. Transition to Training:After achieving success in sales, Steve felt the entrepreneurial itch and transitioned to training other agents. Learn about his role as Chief Revenue Officer at Maverick App and how he helps elevate other sales professionals.Key Takeaways:1. Avoid Churning: Understand the pitfalls of churning and why building a new book of business is essential for long-term success.2. Invest in Tools: Utilize free and inexpensive tools initially, but be prepared to invest in more advanced tools as your business grows.3. Allocate Revenue for Growth: Dedicate 3-10% of your gross revenue towards business development to ensure continuous growth and improvement.4. Training and Mentorship: The value of training and mentoring others in your industry can lead to new opportunities and professional growthResourceshttps://maverickapp.io/Follow the Frugalpreneur:https://www.frugal.show/Sponsor Frugalpreneur:https://www.frugal.show/p/sponsor-the-show/Leave a Message for the Show