Timing in Sales is difficult to manage, especially when teams are head down closing their deals today. It´s likely they miss to identify and qualify required opportunities to feed them tomorrow. Personally, it reminds me of the response we get when calling into a teenager bedroom - good intend but no sense of urgency!

As far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality.
Albert Einstein

The formula is simple and compelling, BUT, it is based on at least three critical assumptions: 1. History Repeating: The pipeline coverage formula uses historic facts to anticipate the need for the future. So, be aware that the rear mirror might give you a wrong impression on the direction of the road ahead - it is very unlikely that moving forward the circumstances for your business will be the same again. 2. Statistic Probability: The pipeline coverage formula uses statistical assumptions in a discrete business. Therefore, it will not work on small number of deals, significantly varying deal sizes or changing likelihood to succeed. 3. Sales Capacity: No matter how many deals you deem appropriate or how much effort you are willing to put into coaching, your cost of sales sets the practical limit.

Pipeline Coverage Expectations - The Matrjoschka Effect

Source: Shutterstock

Speaking with manufacturing industry customers is more exciting than ever. The Digital Transformation and Industry 4.0 meanwhile have arrived everywhere. However, the approach and progress vary significantly - especially, when it comes to the Intellectual Property Strategy. While some companies focus on internal digital end-to-end optimization of their product design- and production processes for shorter time to market, individualized product offerings and cost efficiency, others are taking the digital value directly to market - leveraging their enormous industry process know-how, specialized data insight and their ability to predict or optimize their customer´s value creation.

There is a chicken-egg-interdependency of business- and Intellectual Property strategy. This explains, why IP-strategy discussions without a deep understanding of business makes no sense.
Bowman Heiden – Deputy Director, Center for Intellectual Property, University of Gothenburg

The factory of the future will have only two employees, a man, and a dog.  The man will be there to feed the dog.  The dog will be there to keep the man from touching the equipment.
Warren G. Bennis

Let´s have a short excurse into research intense industries like bio-tech or pharma. The use of new developed seeding material or next generation drug is primarily not limited by the physical reproduction but by rights the patent holders reserved to protect their IP. Even, if you don´t like gene modified crop, patenting- or trademarking nature, separating the intellectual contribution from its physical representation may imply revolutionary effects to the business establishment in your industry as well. E.g. the agricultural-technology and licensing exports from the Netherlands meanwhile surpassed their traditional food production exports in value. Decades ago, the Software Industry emancipated form Hardware Industry by introducing the commercial concept of selling usage rights for software independently from hardware - usage gets monetized while the IP remains in hands of the software vendor. This revolutionary approach explains the disruptive potential software has to traditional, hardware centric business models. Again, it´s about who takes control in a digitized industry to come.

European Patent Office [EPO 2017] - Annual Report 2017 Infographics - International patent, trademark and design filings under the PCT, Madrid and Hague systems (2016)

The Semmelweis reflex or “Semmelweis effect” is a metaphor for the reflex-like tendency to reject new evidence or new knowledge because it contradicts established norms, beliefs or paradigms. Medicine men and women still work on their discipline in washing hands to fight lethal super bugs and super fungis in hospitals but no one would dispute the relevance of hygiene today.

The medical establishment was sceptic when physician Ignaz Semmelweis  found clear evidence, by 1847, that mortality through puerperal fever ("childbed fever"), could be drastically reduced by simply washing hands. He instituted a clinic-wide policy of mandatory hand washing between cutting up a body during autopsy and assisting in a birth. Despite proven success the experts of his time ignored his advice to clean and separate different work tasks. Source: npr.org - The Doctor Who Championed Hand-Washing And Briefly Saved Lives

In times where globalization turns into protectionism this seems a big ask and may create discomfort with a whole industry but it is possible. Similar to Civil Aviation back in 1944 where, the Chicago Convention on International Civil Aviation led to common, binding security standards and safety procedures which saved millions of lives. Moreover, it shows that meaningful regulation can instill trust and enable global economic growth over decades. The Chicago Convention changed the face of an industry and keeps reminding us that innovation is not finished when making the possible happen but also requires relentless work on preventing what ought to be impossible.

Source: The World Bank and B3A Data

Fix a problem before regulation makes it a crisis.
Wayne Brown, Ernst & Young - Ten lessons Financial Services can learn from other industries

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It´s 12 years ago that Bill Gates posited the New World of Work, where collaboration, business intelligence and prioritizing scarce time and attention are critical factors for success. It´s time to look into the progress we made on software enabled business productivity because it impacts each and everyone. The innovation journey continues at amazing speed of technological progress but also adds new complexity for people who already feel the pressure of an "always-on" world and ever-rising expectations for productivity. The need for change is even more pressing: Neuroscience found evidence why our good old flexible office work environment is not productive.

The problem is not the problem. The problem is your attitude about the problem - Do you understand me?
Captain Jack Sparrow

Transforming the organization means dealing with complexity in: how to articulate business requirements and the definition of success? how to become explicit on expectations? how to renegotiate work contracts and revisit mutual agreements? how to work inside and outside the office? how to prioritize professional and private life? how to individually and collectively organize collaboration? how to interact online, offline and across desks, sites, cities, regions and time zones? The World Economic Forum has provided a navigation system on the global transformation agenda to become systematic with Workforce and Employment of the future. You may also find some interesting perspectives there.

Source: World Economic Forum, "Workforce and Employment"

"Now that it's definitely not cool anymore, it feels safe for me to start tweeting as well ..."
​Posted by my old friend, Prof. Ulle Endriss, 2017 ... or 25 years after we learned about Quantum Computing at University

Finally, I enjoy working in remote teams, managing distributed organizations but, I also learned that even the most sophisticated technology can´t do what a good cup of coffee can do - stimulate the creation of inspiring ideas when sitting together in person.​​ Technology can help you learn and follow-up on things in a structured way but it will not help you in cases where you even don´t know what you don´t know.

Source: Shutterstock

Imagine, sellers would be rational individuals like Mr. Spock, the fictional character in the Star Trek media franchise - the commander of Starship Enterprise who always followed the rules of logic, never distracted by emotions. I agree, this is neither realistic nor desirable to move mixed human-vulcans into sales roles. Some sales leaders would not want to lose their financial controllers either. Experience tells, winning a new customer means 6 times more investment than maintaining an already loyal customer. Isn´t this a really good reason for you as a commander to go deep on what is driving the Enterprise towards customer loyalty?

I don't know anything, but I do know that everything is interesting if you go into it deeply enough.
Richard Feynman, Nobel Prize in Physics 1965

Business Acumen remains key to success in increasing the likelihood to renew a contract. Even though you may find significant correlations, it´s the causation which makes it relevant. The correlation between growth on ice-cream sales and the outbreak of bushfires in southern California maybe a strong correlation but it´s not the cause. Mind the difference between correlation and causation. Turning good analytical work into concrete action is what makes the difference in business. Overhasty conclusions and bias on this last but most important step may put your whole endeavor at risk. Following historical anecdote shows why. The United States Statistical Research Group (SRG) once used to be on mission to help win world war II. Sales is not war and trying to find a way to minimize the loss of airplanes through better armor is not business optimization. Surprisingly enough, we still can learn from their work.

Source: Aberdeen Group, Sept. 2016 | "YoY Advantages of Analytical Grounded Sales Teams"

Source: Shutterstock

... 'Cause there's a monster living under my bed - Whispering in my ear ... Carlos Santana - Put Your Lights On ​​A while ago, I had a refreshing and insightful conversation with a customer who happened to be the editor of a major newspaper. He described how he sees parts of his traditional business erode through digital channels but he also welcomed the efficiencies of digital productivity for his employees. Still, the ambivalent coopetition in today’s business is reality - seizing opportunity jointly with the global digital giants on a worldwide level but also fiercely competing with them on your own home turf. Surprisingly, there was no sign of fear or worry - where is his confidence coming from?

... There's an angel, with a hand on my head
She say I've got nothing to fear!
​Carlos Santana - Put Your Lights On

Auch der stärkste Mann schaut einmal unters Bett.
Erich Kästner

Source: Shutterstock ​In 1965, Gordon E. Moore made a prediction, that the compute power will double every 2 years, while decreasing in relative cost. It is a race at an exponential pace meanwhile lasting for decades fueling economic growth.

Digital Transformation? - No worries, I will not join the battle on the prerogative of interpretation but connect some dots. The digital innovation meanwhile continues for decades and each phase impacted it´s own aspect of productivity or made new things possible. While the natural resources on earth are trending towards a physical limit, we see the human intellectual capacity and imagination prosper almost infinitely. ​

In skating over thin ice our safety is in our speed.
Ralph Waldo Emerson

When it comes to digital, the only thing worse than standing still is running in the wrong direction.
INSEAD Knowledge  Read more here

Source: Shutterstock

Now, that our son is growing up and along his dream vehicles keep growing in number of wheels, I want to share with you how scorecard management can benefit a Growth Mindset. ​When he turned 2 years old, his biggest dream was owning a wheel-barrow. His parents, however, found themselves far away from dreaming during nighttime. The little one arrived in their bed during nights and kept them awake. The situation required true leadership and a professional approach: ​ The “Sleeps in his Own Bed”-Scorecard was born!

The Scorecard got designed and introduced to safe the family and let alone make dreams come true. It all worked so well – our son scored well, the parents slept well and finally the wheel-barrow arrived at the family home. What a great learning and accomplishment we thought, not knowing the best to come. ​ Weeks later, the Engel-Family was driving through the city when once at a sudden a voice from the back-seat turned up: “Look daddy, he sleeps in his own bed!”.​

Source: Private

• When I was a boy of 14, my father was so ignorant, I could hardly stand to have the old man around - But when I got to be 21, I was astonished at how much the old man had learned in seven years.
  

Mark Twain, Novelist