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Take Over Or Take A Seat? - Paul Stansik - RevOps Rockstars - Episode #28
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Private equity firms can seem to be demanding when it comes to implementing tactics for improving business performance. However, done right, this is not the case. Effective operating partners have different processes when communicating with the portfolio company. On today’s episode of RevOps Rockstars, we feature the experienced writer, process developer, and Operating Partner at ParkerGale Capital, Paul Stansik.
Paul talks about the harm in too much research and data, the four jobs of an operating partner, and the way to create realistic and attainable budgets for the portfolio company. Learn the mistakes you may be making when advising companies on how to burgeon success.
Takeaways:
- More data does not automatically derive more results. Be selective when determining potential questions to research. Find out which are the essential questions that will impact business performance and only then spend resources to collect the data.
- Sales and marketing are not independent departments. They are meant to go hand in hand. Marketing is meant to make sales more manageable, and the departments need to communicate and collaborate.
- The operating partner has four jobs: to keep the standard, create business-improving agreements, keep score using metrics and reporting, and foster a demanding and supportive environment.
- Data is preferably industrial rather than artisanal, it should be readily available and constantly tracked, rather than dug up and recorded when necessary. This reduces the overall effort required to produce and increases reliance on data for improvement.
- Growth and success are not achieved through a one-and-done process, rather, they require constant feedback and incremental improvements on each version of the process or report created.
- Collaboration between the PE firm and the Portfolio Company is critical. Collaborative budget building will make a realistic budget that will be adhered to and employees feel respected and valued when the operations leader is open to input from them.
- When suggesting a plan to enact, provide the necessary resources and foster a safe and welcoming environment for questions and clarifications. Doing so will allow employees to be honest and vulnerable when a newly implemented process is unfamiliar.
Quote of the Show:
- “You are there to help make growth inside the company more predictable, more repeatable, and just feel easier.” - Paul Stansik
Topics:
00:00 - Intro.
01:14 - What do you wish RevOps teams within your portfolio companies would stop wasting time on?
03:30 - About Parker Gale Capital.
05:42 - Measuring success in RevOps.
07:32 - Engaging with the RevOps teams.
09:11 - How a RevOps team might disappoint.
10:13 - Paul’s day-to-day.
14:46 - Measuring the success of the PE firm.
18:53 - Red flags in RevOps.
21:39 - RevOps teams should be doing more…
25:40 - Inquiry versus Advocacy.
29:37 - What actions should RevOps teams take today?
32:02 - Learning about Paul.
36:03 - Shoutouts.
41:04 - Contact and close.
Shoutouts:
- Dave Kellogg https://kellblog.com/
Links:
- LinkedIn: https://www.linkedin.com/in/paulstansik/
- Twitter: https://twitter.com/paulstansik
- Medium: https://pstansik.medium.com/
- Company website: https://www.parkergale.com/
- ParkerGale PE FundCast: https://www.parkergale.com/podcasts
- Book Link: https://www.parkergale.com/salesmetricsplaybook
Ways to Tune In:
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