MSMP 119: Joseph Fung on Finding the Right Fit for Your Business
Today, joining me for this episode of the Mads Singers Management Podcast is Joseph Fung, the CEO, and Co-Founder of Uvaro, an online sales accelerator that helps sales professionals be more successful regardless of their specialty is. Based in Canada, Joseph is a lover of all things tech, software, and entrepreneurship.
We begin this episode where I admit that sales aren’t my thing and where I asked Joseph when it is the right time to hire your first sales rep for your company or business. Joseph agrees that sales can be complex because he has also struggled with his first companies. He shares how he tried to learn those skills quickly by going to ToastMasters and the BNI, where he learned how to make a pitch and do the proper handshake.
According to Joseph, unlike other careers where you can get accreditation, sales is different because you can’t just check the list. Instead of looking for someone who has all the credentials, Joseph says business owners should look for someone who knows their customers well.
While taking risks is part and parcel of starting a business, many entrepreneurs don’t tend to see its downside, especially when some of them have the privilege because they can have something to fall back on if their venture fails. Each of us has our interpretations when it comes to starting businesses. Some say we shouldn’t do business with our friends or families. Some will say that it isn’t wise to start a company with a stranger. Still, regardless if we have a good or bad experience, we should always take it as a learning experience.
Whether you choose to join BNI, ToastMasters, or whatever group is out there, you will reap more than what you have planted initially if you deliberately want to improve yourself. The sound energy you put out there will come back to you tenfold and even more! Although it may not be automatic, intentional improvements will significantly affect yourself and the people around you.
Key Learning Points:
1.) Joseph says that everyone looks for sales reps that have sold similar things before. While it can work, he says that it works better if you know your customer well. - 03:00
2.) In reply to Mads’ statement, Joseph says that even though top-level candidates or employees may produce good results, they may not necessarily have the same results for you. - 03:47
3.) Mads says that many business owners and entrepreneurs don’t tend to see the downside when taking a risk- 12:33
4.) Joseph shares that he has had both painful and sound experiences in business. However, both of them were all learning experiences - 18:36
5.) While being spontaneous is a good sign when starting a business, Mads cautions that business owners shouldn’t always change their ideas and products every week. - 21:37
6.) Joseph says that he is a firm believer in creating a workplace where one can thrive and have a healthy (work-life) balance - 22:24
7.) Joseph adds that it’s essential to have partners who have a similar level as you. - 22:43
8.) Mads says that the quality of people you surround yourself with matters. - 28:03
9.) Joseph says that when you put good energy out there, it comes back to you - 35:18
10.) Joseph says that if business owners and sales reps are deliberate about improving each step of the way, the effect will be compounding. - 39:39
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