Smart People Buy Dumb Pipes

highly focused sales organization Large Salesforce Consistent Productivity Sales Rep Productivity (orders per month) ― Q1 2010 Q4 2021 Salesforce Growth 700 Q1 2010 Q4 2021 600 500 CAGR: 5.5% 490 400 300-262 200- 100- 0 765 4 3 2 10 Avg 5.2 2010 Q2 2010 Q3 2010 Q4 2010. 21 2011 222222 122222222 Systematic Process Direct Web Tele- Sales Force Marketing Marketing 400 contacts 24 appointments 12 proposals 4.2 orders Salespeople typically win 40% of On-Net proposals Salesforce Performance • Simple product: modest training investment Success at building the team • Highly leveraged compensation cogent Smart People Buy Dumb Pipes 8

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