How to create your own role

Happy Friday to all?585?(?? from 577 last week) of you reading this today!?

It is still raining in London (surprise surprise). The UK, USA and EU increased interest rates again (surprise surprise).?

Today we will be covering:?

- How to create a role only you are qualified for!?

Reading time: 3.5 - 4 minutes.

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VP roles don't exist because someone needs a VP.?

They exist because companies need someone with the skills, authority and vision to get a specific outcome.?

That means you can create a VP role for yourself!?

Why is this important to know?

As the world changes, new challenges and opportunities arise.?

Leaders may miss some challenges. They may not understand or appreciate how these changes will impact their business. Worse, they may follow the usual path when a new one is required in this changing world.?

Be bold

A few weeks ago, a CSM leader (one of my coaching clients) approached me seeking advice about her performance review. She wanted to increase her pay. Rather than seek an increase in her base, she wanted to make the case for a commission structure based on her goals for renewal rates.?

My advice to her? If you're going to ask for something outside the norm (CSMs receiving commission), ask for something bigger and more valuable to your employer!?

How she became the VP of Retention

Here is a step-by-step guide.

The first step was to align with the company's objectives by establishing how important retention is to their goals. We worked together to get clear on their retention goals.?

The next step was to establish why retention is so important. In a period where new business is a lot tougher and longer to win, retention and growth of clients is a key part of their revenue protection and growth at a lower cost.?

The next step was identifying all the elements of the buyer's journey that impacted retention. These were the following:?

- New client acquisition

- Sales approach and techniques for the promises made to prospects

- Delivery of promises

- Customer experience

- Account management including cadence for client engagement

- Contract terms

- Customer success

- Pricing strategy

- Product & service development & innovation.?

The next step was to identify how each step was being taken. We analysed

the data on each of these aspects and how they impact client retention and growth.

The final step is to measure the impact of any mismanagement in these steps.?

All this analysis helped her build a case for the importance of making sure that someone is responsible and accountable for closing the gaps at each step. We found out that each of these steps significantly impacted retention and client growth, which the leaders had not fully appreciated. Until then, leaders had focused all their retention efforts on Customer Success and Account management, not realising that retention was impacted by a much wider spectrum of buyer engagement.?

The result was that she opened their eyes to leakage occurring on a bigger and wider scale.?

This approach positioned her as someone who viewed the business through a wider lens and could "see around corners". She then recommended that a VP of Retention role be required to influence and enhance each step. Continuing with a siloed approach was not going to help them compete in a tight buyer environment within a highly competitive SaaS market. She went further by describing the roles and responsibilities that this VP of Retention would need to make the necessary enhancements. She made the case that the VP role would need to have the right level of influence, seniority and mandate to work across the whole spectrum in a cross-functional capacity.

The result

Her approach was so clear, compelling and balanced that she became the natural choice for the VP role. Her leaders promoted her to that VP role, gave her the pay increase she initially desired and promised to give her the necessary resources and support to achieve the outcomes they all wanted.?

How you can do the same

You will notice that this approach is very similar to a good-quality sales approach.?

- Review your company's objectives.

- Identify the challenges and difficulties standing in their way.

- Look at how they are currently approaching their business and how it impacts achieving their objectives.

- Put together the data and concrete evidence, as much as you can, to build a case. - Present that case clearly, compellingly and objectively to the right "decision-makers".?

- Make the case that such a role is necessary within their competitive market.?

Focus on first getting buy-in that such a role is required. Only once this has been accomplished can you present yourself as the "solution".?

Demonstrate how your skills and characteristics are the right fit for such a role. Be forthcoming on where you may fall short and the resources/skill development you will need to close those gaps.?

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