Shane Murphy

Building a winning sales team in the Healthcare IT space isn't just about filling positions, it's about creating a growth engine. At NST Partners, we don't just put bodies in seats, we build powerhouses. 💥 Example? From $200M to $1.2B Valuation Jump ⬇️ We built an entire sales organization (47 placements), propelling a company's valuation a staggering 6X – leading to a successful acquisition! Reach out if you'd like to chat about how we can build a customized growth strategy for your sales team. 📩 #Healthcare #IT #Sales #Software #RCM #AI #payers #pinnaclesociety

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There’s something I hear early healthtech sales reps get wrong when they move upmarket. When you sell to SMB customers, they want to know they’re going to get the attention they think they deserve. Whether it’s customization or time talking to someone on the phone, it’s a bit of a “We’ll be there for you!” attitude. When companies move upmarket RFPs and big asks can seem like inviting opportunities to let an enterprise customer know that you’ll do anything for them. “Let us know what you want and we can build it.” Or, when health systems ask about roadmap, it can seem like the answer should be… “We’ll your our largest customer so if there’s something you want then we’ll build that for you.” Enterprise customers often don’t want to hear this. This approach takes consultative selling off the table. You’re actually asking them to consult for you on your next steps! Enterprise customers don’t want to hear that you’ll do anything for them. They want you to listen to their pain points and have the experience and expertise to confidently tell them the best ways to fix their problems. See enterprise customers aren’t just buying your tech, they’re buying the team that comes with it. While enterprise customers do want to hear your roadmap isn’t locked in for the next year, be wary how you walk this fine line of adjusting just for them. Talking about how big they are can backfire into them thinking, “Well great we’re prioritized until the next big customer signs with them.” Again, enterprise customers want to know your experts in the market. It can be tempting to go broad because an organization so big must have opportunities to use all aspects of your product, but, you’re seen in a better light the narrower you stay focused on the thing they’re begging you to solve. There’s a lot of nuance in sales and adjusting to your prospect. In fact, your pitch may even be different to the PM versus the CIO evaluating the deal. But you’re always at your best when your prospect believes you’re the team to help them. #sales #digitalhealth

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Why is the "3X pipeline coverage" rule an issue in sales? Glad you asked. Here's my take: 1. It's too simple and doesn't consider how your sales process really works. 2. Even with 3-4X coverage, many teams still don't hit their targets. 3. It makes you focus on getting more leads instead of closing more deals. There are two types of sales teams: Type 1: Wins by "volume." Close rates hover ~20%, leadership always pushes for more pipeline. Type 2: Wins by "rate." They break down their process stage by stage, focusing on areas with the biggest leakage. Let's look at a healthtech company example: Company built $1M quarterly pipeline vs. $250K target. Sounds good, right? But revenue was stuck between Stages 3 & 4. (the demo stage) 40% Stage 3 → 4 rate cut overall win rate to 21%. Result? Only $215K closed from $1M pipeline. Ouch. The solution? Shift to a "Type 2" team: 1. Enable reps to build a sharp point-of-view. 2. Tie exit criteria to revenue ops validation. 3. Craft messaging that taps into priorities. 4. Build a system with scorecards. Result? Win rates jumped to 28% overall. I'm not a math guy but I think thats higher than 20% Less pipe, more revenue. What type of engine are you building? And more importantly, what are you doing about it going into next week?

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Utah has produced some of the top SMB / MM sales teams: Podium Route Divvy Canopy Lucid Pluralsight Brex Pinterest BambooHR and so many more here... Why? ⛪️ A huge percentage of saas sales reps start their sales career knocking doors. Selling Jesus. Nothing harder than that. Slam the door in your face? Go to the next smiling ear to ear. Oh, and do it for 2 years in a foreign country at 19 years old. Oh, and you pay for it yourself. Yes, I'll be making 'Utah, Selling Jesus & Saas' shirts soon. 🚪A HUGE percentage of these then go on to sell door-to-door with solar, pest, alarm, or whatever else you can sell door-to-door. It's what they are good at and know. 💵 Many then realize it's unrealistic to be 23, married and have their second kid on the way and still be making >$180k a year knocking doors only during the summer. So, the fastest path to $180k a year is selling saas. ⤴ The path to selling large enterprise is a journey and many fall out during the journey. So, sales teams naturally have a huge influx of SMB / MM talent that is top notch here to pull from 🎯 We're small. The community is still small and has the feel of 'everyone knows everyone'. This means your recruiting efforts have compounding effects. If you can steal a rep from company X, they likely went to school with, roomed with or worked with 3 others that want to follow them Regardless, I'm a believer. Selling to SMBs / MMs. No better place to build it than Utah. Shoot me a note, I'll tell you which companies to pick from. 😇

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Promotable AEs... Do not: 1. Single thread 2. Hope as a strategy 3. Complain without solutions 4. Pitch features 5. Reject accountability Do: 1. Diversify their pipeline generation methods 2. Know why they win 3. Great discovery 4. Sell solutions, not meetings 5. Work for a company that promotes AEs :) This is the way. 🏆

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In the vertical SaaS industry, the allure of becoming a Payment Facilitator (Payfac) can be tempting for founders looking for an easy boost to their revenue streams. However, it's crucial to understand the significant investments and focus required to successfully implement this strategy. Owning the payment process and the customer experience could offer substantial advantages, but as Wade Arnold insightfully points out, it's not without its challenges and potential impacts on financial metrics. #SaaS #Fintech

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