The Value Hypothesis Opening the door to the C-Suite By Michael J. Nick Page | 1 The Value Hypothesis © 2012 Michael J Nick The Value Hypothesis By Michael J. Nick Contact Information: Michael Nick President / Founder ROI4Sales, Inc. 823 S Main St #202 West Bend, WI 53095 262.338.1851 www.roi4sales.com www.roi4sales.com/blogs Twitter @mjnspw © 2012 Michael J Nick Published as White Paper All rights reserved. The text of this publication, or any part thereof, may not be reproduced in any manner whatsoever without permission from the author. Version 3.0 Page | 2 The Value Hypothesis © 2012 Michael J Nick THE VALUE HYPOTHESIS If you have read The Key to the C-Suite already, you might feel as though we never really help you, “open the door to the c-suite”. The Value Hypothesis is a little something I held back in the book. Not on purpose, just because the publisher made me turn over the manuscript before I was ready. So, as a bonus, here is the real ending to the book and some insight into getting to the most difficult c-suite personnel. Most B2B strategic buying decisions begin with an economic impact study by someone inside your prospect’s organization. An economic impact study may consist of many calculations that begin and end with one simple question, “What is the economic impact on our financial statements?” Each major purchase that takes place in corporate America will go through a certain amount of scrutiny. A finance person will look at the cost in terms of cash flow, Internal Rate of Return (IRR), possibly Return on Investment (ROI), or even Net Present Value (NPV). These terms should not be foreign to you if your read the first chapter of, The Key to the C-Suite. Each metric reveals a story to the financial person as to the economic impact a major purchase will have on their financials. The Problem As a sale’s professional the first of your problems at the start of a sale is that the economic impact analysis is going on without your input. In other words, the finance people are guessing your value (and cost) as they figure out their cost, return and impact. To determine the estimated ROI, NPV, IRR or any other financial metric they need to input the impact or estimated return. Obviously this is early in the sales process and there are no returns yet. So, finance just, “plugs” an estimated return figure into there analysis model hoping for the best results. In addition to hope, they have now established what Page | 3 The Value Hypothesis © 2012 Michael J Nick could be considered a target return for all vendors they invite in for review. The problem of course is the process is done in a vacuum with little or no input from the very vendors they want to review. Or worse yet, the process could be driven by your competitor laying a trap for all other vendors. Your competition is using social media, white papers, outbound drip marketing programs and more to make an impression on the c-suite as they go through this process. In either case the process of estimating value prior to talking with vendors is going on in the background. The Bigger Problem Hard to imagine you have a bigger problem, but you do. Have you ever been in a sales situation and thought the deal was in the bag? Or, have you taken a prospect for their word and spent a commission before the deal was closed? Who hasn’t right? We are sales professionals and we are optimistic. We see the world in color while everyone else sees it in black and white. Here is a troubling scenario for you to consider. Your competition sends a document that consists of an estimated ROI Business Case to a C-Suite prospect before they come on the market and solicit other vendors to do business with. Their business case lays out the issues, pains and goals they will help resolve, it includes an estimated cost and return. In addition they may include things like expected IRR, ROI, NPV and more. They include charts and graphs, a complete picture of what an investment will entail, and what they (the prospect) should expect in return. Each metric that is included in their document for a CFO puts additional pressure on you to respond when the time comes. What has happened here is they basically laid a trap for Page | 4 The Value Hypothesis © 2012 Michael J Nick all other vendors (including you) by participating in the economic impact study up front. (Before it was even called an economic impact study.) In addition, we are seeing sales vendors hire ex-bankers to help them deal with the financing issues many of their prospects are facing. These bankers are able to look at a value assessment model and provide insight into what we will call financeable value. In other words they are looking at a value proposition and stripping out the value that a financial institution would not provide funds to purchase. This unique insight has added additional pressure on vendors to not only provide a value proposition, but a value proposition that also includes a Business Case complete with detailed tangible, intangible, CAPeX, OPeX and financeable value and savings. The ex-banker is looking for value beyond the norm. For example, one of our clients sells commercial furnaces to hospitals for a living, their basic value proposition is the energy savings and reduction in maintenance costs they can provide. The extended value (financeable value for example) could be the reduction in time it takes an operating room to adjust their environment. By adjusting the environment quickly it allows for more operations to take place each day, hence adding additional revenue to the value proposition. This is the type of information the ex-banker is looking for. While the competition is selling energy cost and maintenance improvements, our client is selling that and financeable value. Your challenge will be having the tools to first collect the data, present the findings and provide a complete economic value proposition picture. In addition, the ability and knowhow to create a pre-emptive strike with a Value Hypothesis. A dashboard type document that lays out issues resolved, current and potential on-going Page | 5 The Value Hypothesis © 2012 Michael J Nick costs, estimated values delivered, and economic impact on any number of metrics including, ROA, RONA, ROE, Earnings, Net and Gross profit, Cash flow, and more. The Solution It is not uncommon for sales and marketing to be at odds. In fact they are likely to be more at odds than we would like to believe. However, in the end both groups have the same goal in mind, sell more products and services. In the big scheme of things we look to marketing to establish our branding, corporate messaging and generate leads. We look to sales to generate revenue and keep our customers coming back for more. The place in the sales process where these two groups overlap is critical. Specifically, sales and marketing overlap performing demand generation. If marketing produces poor leads, sales of course will not generate revenue. If sales takes a good lead and blows it, everyone is out of work because there is no revenue. Allow me to break this down in steps. At the beginning of a sale many of your “suspects” don’t even realize they have an issue. It is your (and marketing’s) job to create a demand or find hidden issues, pains or goals (Latent pain). This critical step in the process really lays the groundwork for moving a sale forward. KEY POINT: By educating your marketing team and building a tool that can be used at this point in the sale (prior to becoming an active lead) you are able to establish credibility, be the first to provide information your prospect will use to: Complete their economic impact study Compare other vendors And, firmly put you in the driver's seat Page | 6 The Value Hypothesis © 2012 Michael J Nick If the tool is designed, built and delivered correctly, and marketing understands their role is to set up the tool as a Value Hypothesis, then this technique will work well. If however, it is not set up properly and you simply "dump" an excel spreadsheet on a CFO, then you are sunk. Prospects do not want, “another excel spreadsheet”. They are looking for quality content to use to make the most difficult strategic buying decisions. A Value Hypothesis is a way to provide them with the tools to help. Step 1 The first step in building a high quality Value Hypothesis is to completely understand your value proposition and its economic impact on your prospects financials. Begin with building a value inventory. If you don’t understand what this is, return to my first book ROI Selling (©2004 Dearborn Publishing). In short a value inventory is a matrix that includes the columns why buy, business issue, desired outcome, stakeholder, solution, value metric, savings category and C-Suite Metric. This matrix will help you understand your key values and provide the foundation for performing a financial Business Issue Desired Outcome Stakeholder s We need to develop innovative products Solution Reduce, Avoid, Increase because we're therefore, I want Engineering, losing market share to increase market Sales, share Executive, Finance, Supply Chain, Marketing, We need our products because changing therefore, I want Engineering, Finance, to last longer costs a lot of money to reduce the for us and our amount spent on Supply Chain, customers product changes IT, Ops, Building products Increase your competitors revenue cannot We need to improve product reliability History of design of highly reliable products, monitoring and proactive mgmt, image mgmt Pre-validated solutions (roadmap), cloud hosting We need to reduce time to market because downtime costs our customers money, goodwill, and long term business therefore, I want to reduce the cost associated with downtime Engineering, Executive, Finance, Supply Chain, Service, Ops, because we will lose market share therefore, we want Sales, to capture market Executive, share Finance, Supply Chain, Engineering, Marketing, Change control Value Metric Unique Why Buy New sales Y Reduce cost Labor, Regulatory N Reduce cost Downtime N Reduce costs and Increase revenue Production and engineering, New business Y Relevant discovery. Below is an example of a Value Inventory. C-Suite Metrics Profit, Payroll as % of Rev, Sales / Employee, EBITDA, Ret. On material Y Margin %, Operating costs, Dir. Labor as % of sales, Warranty cost reductions, End of Y warranty service cost, replacement cost, fewer units that have to be built Service costs as percent of rev., Return on R&D investment, Operating Y Cost, Training costs Y Earnings, ROA, Operating Costs, Frees up investment funds Page | 7 The Value Hypothesis © 2012 Michael J Nick Step 2 Identify between five and ten issues that you typically resolve and display them on a page with a brief description beneath. This is your introduction page. When your prospect sees this page they will be able to identify with some of the issues they are facing. This is a key point and is driven by the accuracy and completeness of your value inventory document. Step 3 On the next page build a chart displaying each of the value propositions with an estimated (on average) economic impact. For example, in our earlier example we discussed the impact of a new furnace on both utility bills and potential revenue improvements from a quicker turnaround in the OR environment. Each of these would be line items, and they would display an average impact based on historical success. Be sure to preface the section with a paragraph explaining the numbers are or percentages are just estimates based on size of company, typical returns, etc. Note, all you are trying to do is establish some baselines to have a discussion and move the sale forward. See our example in at the end. Also on this page include graphs or charts depicting the data you are displaying. A picture is worth a thousand words. Don't miss this opportunity. If you did your research on this company beforehand and used a tool like Sageworks (www.sageworksinc.com) you will have the industry average for up to 25 metrics. You discuss best practices and how you can bring them in alignment. You can compare their numbers to the norm in categories like, net profit, gross profit, DSO's, Debt to Equity, ROA, ROE and more. By setting up a scenario that makes you the expert in Page | 8 The Value Hypothesis © 2012 Michael J Nick best practice, you will be looked upon more of an advisor than as a sales professional. Bottom line, do your homework and use the tools in the market to gather the data you need to make yourself look different. Step 4 I recommend you take a look at your economic impact potential on their Balance Sheet and Income Statement. Build a hypothesis on revenue impacts, expense impacts and solution cost. These three components will net a, "Cumulative increase" displaying your economic impact on their financial statements. For example: Step 5 Lastly we like to look at one other chart. We call it the Life Cycle Summary. This chart consists of several lines. First, the Debt Service. This is the cost of a solution over the course of the life of the solution. If for example they were purchasing a furnace, it has a useful life of 20 years. However, the debt service (when it will be paid off) could be in 10 years or less. So once the payments are made the value continues over the useful life of the furnace. Include on this graph your value proposition from earlier extrapolated out over the life of the deliverable. Page | 9 The Value Hypothesis © 2012 Michael J Nick For example: Note the orange line is the debt service and it ends after 12 years. The value however continues to the 20 year mark. A Value Hypothesis is more than just a preemptive strike on a sale. It will provide your prospect with: A list of issues they may or may not know they have and can identify with A baseline figure for value they should expect to receive An idea as to the short term and long term investment Possible economic impacts they had not figured out yet Information they can use to evaluate other vendors (lay a trap) Develop a Value Hypothesis template and perform research on each prospect you wish to use the concept. Your research can be looking at their annual report, financial Page | 10 The Value Hypothesis © 2012 Michael J Nick statements or simply a Google search that nets you an article where an executive might be talking about expanding their operations. Finally, the information and format from the Value Hypothesis can be used later in your Business Case. Except on the Business Case, use confirmed information. The last step is about delivering the Value Hypothesis. I believe it is important to deliver the document in a special envelope. In other words use FedEx, UPS or the US Postal service flat rate envelopes. In the envelope include the following: Letter explaining the document and listing trigger events you resolve One datasheet / brochure – only one! Hand written note that basically says you will call tomorrow at 2PM (be sure to call) Business Card It is very important to prepare this document with the idea of elegance in mind. Use high quality paper, check spelling, use plenty of graphics and be sure to use competitive analysis. The buyer wants to know you did your homework and made the effort to help them, inform them and educate them. Below is an example of a Value Hypothesis. You can interchange sections, use some and don’t use others. We tried to include several different examples for you to better understand the options. Page | 11 The Value Hypothesis © 2012 Michael J Nick Value Hypothesis Sample The following Value Hypothesis is designed to display the most critical areas of concern that we can impact. We include typical value estimations and financeable value like creating added revenue in your operating rooms by adjusting temperatures faster. Below are summaries for cost reductions and other revenue generating opportunities. Status Quo & Decision Delay Analysis (5 years) Project Summary - 5 Year Analysis Total project investment: $3,058,000 Total estimated economic impact: $10,688,583 $43,183,757 Current cost of status quo: $23,662 Daily cost of status quo: $37,082,069 Revised cost of status quo: Investment $3,058,000 $15,000,000 Economic Im ######### Estimated days for decision delay: $10,000,000 90 $150,100 Decision delay cost: $5,000,000 Utility Cost Analysis Trends $0 Investment Economic Impact Current Utility Cost per Sq. Foot: Financial Economic Impacts ‐ Metric Analysis Net Present Value: (NPV) $7,192,892 $7.36 Market Avg. Four years ago: $5.60 $5.62 Three years ago: $5.86 $5.85 Two years ago: $6.46 $6.42 Last Year: $6.89 $6.80 Discount Rate: 2% Return On Investment (ROI) 75% 1.4 Calculated payback period: (Years) Year over year change in utility cost per square foot: Actual payback period will depend upon payment schedule Impact Category Total revenue impact: $7,859,168 Total expense impact: $5,887,415 Utility cost reductions: $3,058,000 HAI cost reductions: Total solution cost: 6.31% Summary Impact ‐ Five Year Analysis Financial Economic Impacts ‐ Balance Sheet Economic Impact Economic Impact $3,275,045 $443,405 Reduction in readmission costs: $91,503 Operating expense cost reductions: $224,236 $10,000,000Revenue Imp$7,859,168 $8,000,000Expense Imp $5,887,415 Investment $3,058,000 $6,000,000 $4,000,000 $2,000,000 $0 Series1 Revenue Impact Expense Impact Investment $7,859,168 $5,887,415 $3,058,000 Clinician and Physician turnover cost impacts: $2,067,500 Operating Room Revenue lost / recaptured: $7,859,168 Total Economic Impact: $13,960,856 Summary page example. Each section can be interchanged with your particular information. Page | 12 The Value Hypothesis © 2012 Michael J Nick Typical Investment Analysis Below is a five year breakdown of a typical investment. Each category is an approximation as to the actual costs. Item Description Year One Year Two Year Three Year Four Year Five Total Investment Chiller: $850,000 Controls: $625,000 Lighting: $175,000 $80,000 $125,000 $115,000 $115,000 $610,000 Security: $300,000 $150,000 $125,000 $125,000 $100,000 $800,000 $35,000 $35,000 $35,000 Internal Labor: $850,000 $625,000 $105,000 Expenses: $8,000 $8,000 Travel: $15,000 $15,000 Training: $25,000 $25,000 Debt Service: Other: $1,998,000 Chiller: Controls: Lighting: Security: Internal Labor: Expenses: Travel: Training: Debt Service: Other: $5,000 $5,000 $5,000 $5,000 $20,000 $270,000 $290,000 $280,000 $220,000 $3,058,000 $850,000 $625,000 $610,000 $800,000 $105,000 $8,000 $15,000 $25,000 Chiller: Controls: Lighting: $20,000 Security: Internal Labor: Expenses: Travel: Training: Debt Service: Other: Typical investment page – use a graphic to show the investment breakdown. Page | 13 The Value Hypothesis © 2012 Michael J Nick Trending Analysis The Value Estimation by category is an average over five year period. We totaled the costs and estimated deliverables and divided them by 5 years to display an average. The cost of status quo includes typical costs and estimated values delivered, and the Cost / Sq. Ft. is based on estimated increases in energy costs over 5 years compared to industry best practices. Estimated Impact by Category Cost of Status Quo / Decision Delay Average annual cost for energy: (Status quo) Revised average annual energy cost: Average annual improvement: $6,550,089 $5,895,080 10.0% Average annual cost from HAI: (Status quo) Revised average annual cost from HAI: Average annual improvement: $659,536 $570,855 13.4% Average annual readmission costs: (Status quo) Revised average annual readmission costs: Average annual improvement: $93,297 $74,996 19.6% Current cost of status quo: Average daily cost of status quo: $43,572,003 $39,792 Revised cost of status quo: Revised daily cost of status quo: $37,439,851 $34,192 Value delivered each day: Investment per day: $5,600 $1,676 $3,058,000 $3,925 Calculated cost per day for status quo: 90 Number of days for decision delay: Cost of decision delay: $346,541 $301,694 12.9% Average annual turnover costs: (Status quo) Revised average annual turnover costs: Average annual improvement: $1,064,937 $645,344 39.4% Average revenue lost each year: (Status quo) Revised average revenue lost each year: Average annual improvement: $16,216,686 $14,644,852 9.7% Utility Cost per Square Foot (Averages) $7.36 6.31% Current utility cost per square foot: Average year over year change in utility cost: $14.00 $12.00 $10.00 Axis Title Average annual operating costs: (Status quo) Revised average annual operating costs: Average annual improvement: $353,207 $8.00 Current $6.00 Revised $4.00 Best Practices $2.00 $0.00 1 2 3 4 5 6 7 8 9 Trending comparisons to status quo and the market potential. Pay close attention to cost of status quo and cost of decision delay. The best practices chart is an option that could be replaced with something like a Debt Service chart (Shown further down below) Here is the best practices chart exploded for you to see the detail and optional titles. Best Practices ‐ 9 year Summary $14.00 $12.00 Cost / Sq. Foot $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 1 Current Revised 2 Best Practice 1 $7.83 $7.33 $7.45 3 2 $8.32 $7.80 $8.00 3 $8.85 $8.29 $8.234 4 $9.40 $8.81 $8.67 5 5 $10.00 $9.37 $9.25 6 $10.63 $9.96 6 $10.00 7 $11.30 $10.59 $10.50 8 $12.01 $11.25 7 $11.00 9 $12.77 $11.96 $11.75 8 9 Current $7.83 $8.32 $8.85 $9.40 $10.00 $10.63 $11.30 $12.01 $12.77 Revised $7.33 $7.80 $8.29 $8.81 $9.37 $9.96 $10.59 $11.25 $11.96 Best Practices $7.45 $8.00 $8.23 $8.67 $9.25 $10.00 $10.50 $11.00 $11.75 Page | 14 The Value Hypothesis © 2012 Michael J Nick Five Year Analysis Below is a 5 year summary followed by detailed analysis by savings category. See details below. For year 3 ‐ 5 we used the multiplier from your Discovery to determine cost and value analysis. Project Category Summary - Average Annual Cost / 5-Year Period Avg. Annual Cost Revised Annual Cost % Change $6,550,089 $5,895,080 10.0% Hospital acquired infections savings: $659,536 $570,855 13.4% Readmissions savings: $93,297 $74,996 19.6% Operating cost savings: $346,541 $301,694 12.9% Turnover and recruiting savings: $987,288 $573,788 41.9% $8,636,751 $7,416,414 Cost Savings Category Utility cost savings: Summary Totals: Average Annual Lost Revenue / Year Revenue Savings Category Revenue lost each year due to physician turnover, dissatisfied customers surveys & wait times for OR physical environment to change: Reduction / Year % Change $14,644,852 $16,216,686 9.7% A simple 5-year analysis of typical average cost versus revised cost and percent change to expect by category of cost savings. Project Details - Turnover Cost Analysis / 5 Years Cost Reduction Savings Categories Calculated cost reduction for clinician turnover: Calculated cost reduction for non‐clinical personnel turnover: Calculated cost reduction physician turnover due to physical environment: Current turnover costs vs. Revised turnover costs: Year One Year Two Year Three Year Four Current: $6,500 $7,030 $8,422 Revised: $650 $703 $850 Current: $131,913 $134,546 $143,000 Year Five Totals $9,200 $10,358 $41,510 $975 $1,245 $4,423 $158,000 $178,512 $745,972 Revised: $98,935 $107,637 $121,789 $127,585 $135,005 $590,951 Current: $275,000 $550,000 $1,005,201 $1,257,002 $1,450,000 $4,537,203 Revised: $220,000 $385,000 $562,987 $678,008 $785,352 $2,631,347 Current: $413,413 $691,576 $1,156,623 $1,424,202 $1,638,870 $5,324,684 Revised: $319,585 $493,340 $685,626 $806,568 $921,602 $3,226,721 Turnover Cost Analysis $1,800,000 $1,600,000 Current Turnover Costs $1,400,000 StatusQuoC $319,585 $1,200,000 RevisedCos $319,585 Year1 $413,413 $319,585 Year2 $691,576 $493,340 Year3 Year4 Year5 $1,156,623 $1,424,202 $1,638,870 $685,626 $806,568 $921,602 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 Current Year 1 Year 2 Year 3 Year 4 Year 5 Status Quo Cost $319,585 $413,413 $691,576 $1,156,623 $1,424,202 $1,638,870 Revised Cost $319,585 $319,585 $493,340 $685,626 $806,568 $921,602 Five year trend analysis chart displaying the cost of status quo versus your value trend. Very effective visual chart. Page | 15 The Value Hypothesis © 2012 Michael J Nick Cash Flow Analysis Below we analyze cash flow over a five year period Cash Flow Category Year One Year Two Year Three Year Four Year Five Totals ($1,998,000) ($270,000) ($290,000) ($280,000) ($220,000) ($3,058,000) Revenue improvements: $352,000 $582,000 $987,552 $1,152,354 $1,458,721 $7,859,168 Cost reductions: $219,254 $487,215 $952,000 $1,145,876 $1,687,542 $4,491,887 ($1,426,746) $799,215 $1,649,552 $2,018,230 $2,926,263 $5,966,514 ($627,531) $1,022,021 $3,040,251 $5,966,514 Investment: Periodic net investment: Cumulative return: Economic Impact Analysis $18,000,000 Year One Year Two Cumulative I $1,998,000 ######### $14,000,000 Revenue Imp $352,000 $934,000 $12,000,000 Cost Reductio $219,254 $706,469 Economic Impact $16,000,000 Year Three $2,558,000 $1,921,552 $1,658,469 Year Four $2,838,000 $4,532,627 $4,491,887 $280,000 $220,000 Year Five $3,058,000 $7,859,168 $4,491,887 $10,000,000 $8,000,000 $6,000,000 $1,998,000 $270,000 $4,000,000 $290,000 $2,000,000 $0 Cost Reductions Revenue Impact Cumulative Investment Year One Year Two Year Three Year Four Year Five $219,254 $706,469 $1,658,469 $4,491,887 $4,491,887 $352,000 $934,000 $1,921,552 $4,532,627 $7,859,168 $1,998,000 $2,268,000 $2,558,000 $2,838,000 $3,058,000 Cash flow summary – We like to include revenue improvements, some of our clients do not. Lifecycle Debt vs. Lifecycle Value $160,000.00 $140,000.00 $120,000.00 $100,000.00 $80,000.00 $60,000.00 $40,000.00 $20,000.00 $0.00 Curr ent Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Cummulative debt $0 $1,156 $2,538 $4,312 $6,126 $7,982 $7,982 $7,982 $7,982 $7,982 $7,982 Cummulative savings $0 $842,9 $1,775 $3,160 $4,576 $6,015 $7,526 $9,112 $10,77 $12,52 $14,36 This is a debt service chart, too often we include payback period but fail to make the case for all the value that comes after the payback period. Page | 16 The Value Hypothesis © 2012 Michael J Nick About the author Michael J. Nick is president and founder of ROI4Sales, Inc. and author of ROI Selling (Dearborn ©2004), Why Johnny can’t sell (Kaplan ©2008), The Key to the C-Suite (Amacom ©2011) and his latest eBook Why Johnny STILL can’t Sell. He is a nationally recognized expert in ROI, TCO, Value Estimation and conducts several public workshops and seminars throughout the year. He has published several white papers on ROI including; ROI in your Sales Process, ROI after the Sale (360 Degree ROI), The ROI on ROI, and the most popular paper and title of his book, “Why Johnny Can’t Sell. Michael’s work has been written about and published in national publications including Software CEO, Software Success, Sales Recruits.com, Sales and Marketing Management Magazine, Selling Power, and The SalesAdvantage. His nationally acclaimed book ROI Selling received rave reviews and is currently being translated into several forms or Chinese, Russian and Spanish. As a member of the National Speakers Association, he is a featured speaker at major industry events including Software Business, SLAM, Integrity Selling, Marketing Executive Networking Group (MENG), Software University, Chicago Software Association, Marketing-Profs, Software Success Selling series, Selling Across America, Sales Rep Radio, NetBriefings, CanDoGo Radio and a frequent guest on several SPI sales seminar workshops. His expertise has extended internationally with companies like Oracle, Great Plains, Hewlett Packard, AutoDesk, Compuware, MacGregor, Rockwell Automation, GEAC, CheckFree Corporation / Fiserv, Comdata, TSYS, NextGen and S1 Corporation and has 1,000’s of sales professionals worldwide using ROI Selling techniques from ROI4Sales, Inc. Michael can be reached at: ROI4Sales, Inc. 823 S. Main Street #202, West Bend, WI 53095 262-338-1851, [email protected] or visit the website at www.roi4sales.com. Michaels new eBook, Why Johnny STILL Can’t Sell available in the eStore at www.estore.roi4sales.com Page | 17 The Value Hypothesis © 2012 Michael J Nick
© Copyright 2026 Paperzz