morris tech meetup september 10, 2014 fairleigh dickinson university

Morris Tech MeetupSeptember 10, 2014

Fairleigh Dickinson University

Jim TousignantExecutive Vice President

Sales and Business DevelopmentScivantage, inc.

(c) Scivantage, Inc. 2014 2

30+ YEARS OF TECH ENTREPRENEURSHIP

• Scivantage - EVP, Sales & Business Development

• PositiveTALK - co-founder and CEO

• Ultimate Escapes - co-founder and CEO

• Thomson Financial - Managing Director, GSAM

• Morgan Stanley - EVP, E-Commerce & Business Development

• Multex.com– co-founder and President

• ADP Brokerage Information Services– VP Sales

• Multex Software – VP Sales

• Cheyenne Software – VP Marketing

• Mirror Images Software – co-founder and CEO


MULTEX.COMCO-FOUNDER AND PRESIDENT

• Raised $55 million in venture capital from leading venture capital and strategic investors, including ADP, America Online, AT&T Ventures, Chase Venture Capital, Euclid Partners, Flatiron Partners, GE Capital, Mellon Ventures, RR Donnelley, Reuters America and SoftBank Ventures.

• Completed $40 million IPO in March 1999, achieving post-IPO market cap of $1.4 Billion.

• Raised $50 million in post IPO capital from Merrill Lynch and Munder Net Net Fund.


• Completed several strategic acquisitions, including MarketGuide, Sage Online, BUZZ and Research Data Group.

• Managed global team of 100+ sales, marketing, business development professionals in NY, London and Hong Kong.

• Signed 40+ online distribution partnerships with major financial information and media companies, including ADP, America Online, Bridge, Bloomberg, CBS Marketwatch, CNNfn, Disclosure, Dow Jones, Quicken, Reuters and YAHOO.

• Generated $100 million annual revenue, positive EBITDA and operating profitability.

MULTEX.COMCO-FOUNDER AND PRESIDENT


THOMSON FINANCIALMANAGING DIRECTOR, GSAM

• Responsible for $500 Million in annual revenues from Top 50 Global clients, including Merrill Lynch, Goldman Sachs, Morgan Stanley, Deutsche Bank, etc.

• Started and built Thomson Financial’s first integrated global sales and account management team

• Managed global team of 150 sales executives and account managers in US, Europe and Asia

• Closed two largest deals in the history of Thomson and the Financial Information Services market: $300 Million deal with Merrill Lynch and $200 Million deal with Wachovia Securities


SCIVANTAGE OVERVIEW

• Founded in 2000; 250+ employees

• Proven expertise in online brokerage, wealth management and tax & portfolio reporting

• Focus on delivering business insights and actionable information that helps automate and streamline the way financial institutions, financial professionals and their clients transact business

• Raised $50+ Million in capital

• Edison Ventures

• BBH Private Equity

• Industry-leading client list, including: • 12 of the top 24 Online Brokerages

• 2 of the top 3 Independent Brokerages

• 6 of the top 8 Full service/Regional Brokerages

• 3 of the top 7 U.S banks

• #2 asset management firm in the world

• 3 of the top 9 Prime Brokers

SCIVANTAGE CLIENT BASE

7CONFIDENTIAL - Scivantage Inc. 3/19/14

http://www.scottrade.com/index.asp

http://www.rwbaird.com/default.aspx

SCIVANTAGE CLIENT BASE

8CONFIDENTIAL - Scivantage Inc. 3/19/14

http://www.optionshouse.com/

https://access.investor.stifel.com/

https://www.tradeking.com/Modules/Login/login.php

9

SCIVANTAGE PRODUCTS

(c) Scivantage, Inc. 2014


SCIVANTAGE FINTECH

INCUBATOR PROGRAM


BACKGROUND

• Innovation is accelerating in private and corporate incubator and accelerator programs throughout US, Europe and Asia, but few programs focus on FinTech

• FinTech market is lagging new product innovation relative to other industries and market segments – prime for disruption!

• NYC is largest Financial Services market in US/Globally

• Financial Services is #1 source of jobs in NYC

• Technology is now #2 source of jobs in NYC

• NYC/NJ has large and growing base of entrepreneurs, venture capital firms and angel investors

• Creating a Scivantage FinTech Incubator Program in NY/NJ fills critical gap of innovation and leverages huge pool of entrepreneurs, venture capital firms, angel investors and corporate clients/sponsors in NY/NJ

FAST GROWTH OF INCUBATORS/ACCELERATORS

12(c) Scivantage, Inc. 2014

POSSIBLE INCUBATOR PROJECTS

• MOBILE FinTech Apps• SOCIAL FinTech Apps• Big Data and FinTech Analytics• Online Trading Apps and Analytics• Online Banking Apps and Analytics• New Electronic Financial Markets• Disruptive Financial Services Models• Cloud Enabling Technologies• Regulatory/Compliance/Security• Payments/Processing• High Speed Secure Messaging/Infrastructure• CrowdFunding & Collaboration Platforms• Other FinTech Products & Services


BENEFITS OF FINTECH INCUBATOR

• Advice/mentoring from experienced FinTech entrepreneurs

• Access to shared office/lab/conference space in NJ/NYC

• Access to content, technology and hosted cloud services

• Access to Seed Capital

• Leverage NJ/NYC Silicon Alley VCs & Angel Investors

• Leverage Scivantage Financial Institutional Client Base

• Leverage Corporate and University Partnerships

• Access FinTech Entrepreneurs Network


LEVERAGE STEVENS CAMPUS & FACILITIES


LEVERAGE STEVENS INSTITUTE OF TECHNOLOGY

• Office of Innovation and Entrepreneurship

• Systems Engineering & Enterprise Management

• Technology Commercialization

• New Jersey Tech Meetup on Campus

• Stevens Faculty

• Stevens Students

• Stevens Alumni16(c) Scivantage, Inc. 2014

SCIVANTAGE FINTECH INCUBATOR

• Promote Incubator Program to Stevens faculty, students, alumni, Scivantage clients/employees, NYC/NJ entrepreneurs, venture capital firms, angel investors, etc.

• “Pitch Days” targeting 8-10 pitches per event

• Select Top 1-2 Pitches Per event

• Provide space, executive mentoring and $25K seed capital per selected project

• Scivantage obtains “preferred rights” to market/distribute new FinTech products

• Scivantage and Incubator Sponsors have right to participate in future funding rounds


INCUBATOR SPONSORSHIP PROGRAM

• $50,000 annual fee per corporate sponsor

• Preferred commercial terms to use software and technology within corporate Sponsor’s business

• Preferred early access to latest innovation from Incubator entrepreneurs and projects

• Ability to have Sponsor employees participate in program and potentially be selected (promotes innovation and helps attract and retain “technology superstars”)

• Participation by Sponsor’s business & technology executives as voluntary “mentors” to incubator entrepreneurs

• Opportunity to invest in Incubator companies in Seed or A round (at corporate Sponsor level or qualified accredited investor)


SALES IS THE KEY TO BUILDING A SUCCESSFUL TECHNOLOGY BUSINESS


HOW MUCH HAVE YOU SOLD?

• Have you sold $1 million?



• Have you sold $1 billion?


Salespeople today are increasingly overworked,

stressed, fearful and nervous.

The skills learned in school or on the job years ago are NOT

applicable in today's ever changing global market.


Most salespeople don’t know what their real

problems are and often clueless about the best

solution


As a result, most salespeople massively

underperform their sales potential


Most salespeople want to make major changes in their sales career and life, but don’t know how.


Most salespeople FAIL to achieve sales success and financial wealth, regardless of industry or product.

And, most new businesses FAIL:• 50% of all businesses fail within 1st year• 80% of all businesses fail within 5 years• 96% of all businesses fail within 10 years


SALES DRIVES BUSINESS SUCCESS

• Sales are the lifeblood of any business

• Salespeople are the MOST important asset in any business.

• The best companies have the best salespeople.

• More CEO’s of Fortune 500 companies come from the rank of sales than any other function.


SALES DRIVES WEALTH CREATION

• 74% of self-made millionaires are entrepreneurs, and many are sales focused (Steve Jobs, Steve Ballmer, Marc Benioff, etc.).

• 10% of self-made millionaires are business executives, many from the sales ranks

• 5% of self-made millionaires are salespeople who work for other companies all their lives.


PARETO’S PRINCIPLE IN SALES

• Top 20% of salespeople make 80% of all sales.

• Top 20% of salespeople make 80% of all sales income.

• Top 20% of salespeople earn 10X+ more income on average that salespeople in the bottom 80%.


PARETO’S PRINCIPAL IN SALES

• Top 20% of the top 20% (Top 4%) earn 80% of all sales income from the top 20% of salespeople.

• Top 4% of all salespeople earn 64% of all sales income.

• Do you want your salespeople to be in the Top 20% (or Top 4%), or the bottom 80%?


Why do top salespeople outsell the average

salesperson by 10 to 1?


Are top sales performers 10 times better, 10 times smarter or work 10 times longer?


IS SELLING LUCK OR SKILL?


IS THIS HOW YOU SELL?


OR IS THIS HOW YOU SELL?


WHAT ARE YOU TRYING TO SELL?


WHO’S TO BLAME FOR POOR SALES RESULTS?


HOW IMPORTANT IS ATTITUDE IN SALES?


HOW IMPORTANT IS HONESTY AND INTEGRITY?


ARE YOU BUILDING LONG-TERM CLIENT RELATIONSHIPS?


DO YOU (REALLY) KNOW YOUR CUSTOMER?


20% of becoming a Millionaire Sales Entrepreneur is

mastering sales “mechanics”

(prospecting, qualifying, asking questions, presentation,

overcoming objections, closing)


80% of becoming a Millionaire Sales Entrepreneur is mastering “sales

psychology”


PSYCHOLOGY MATTERS MORE THAN MECHANICS

105 Career Professional Wins

78 Career PGA Tour Wins (#2 in history)

Ranked #1 Golfer in World in 2013

Ranked #1 Highest Paid Athlete in World in 2013 by Forbes

$78 million in 2013 earnings

From December 2009 to April 2010, Tiger Woods took leave from professional golf to focus on his marriage after admitting infidelity.

This was followed by a loss of “psychology” and golf form, and his ranking gradually fell to a low of #58 in November 2011.


Where should you FOCUS?

• Sales Mechanics? (prospecting, qualifying, presentation, overcoming objections, closing)

• Sales Psychology? (attitude, beliefs, self image, self esteem, customer psychology, overcoming fear of failure/rejection, etc.)


Salespeople who are just 1% better on a

consistent basis can generate 10x more

sales


SMALL CHANGES CREATE BIG RESULTS

1% Solution – small changes in your thinking,

actions and ability can results in ENORMOUS differences in results.


Examples:• Horse wins race by a “nose” and

earns 10X the purse winnings that 2nd place horse earns

• Baseball players who get 1 extra hit in 12 at bats earn millions of dollars more in annual salary

(3 of 12 = .250 batting avg)

(4 of 12 = .333 batting avg)


Sales is a “WINNER TAKE ALL GAME” - small

advantages can help you WIN consistently, putting

you in the top 20%, then top 4% and eventually top 1%.


1 DEGREE CHANGES EVERYTHING

• Making a 1 DEGREE change in key areas of your life will have DRAMATIC, positive changes in your sales, profits, client satisfaction, wealth, health and fulfillment.

• Water turns to steam at 212 degrees (not 211)


Change is a MUST.

If you keep doing what you’ve been doing, you

keep getting what you’ve been getting.


What changes/shift do YOU need to make to

achieve financial wealth, happiness and be totally

fulfilled in your life?


MAKING LASTING CHANGES

• Must be CLEAR on your OUTCOME. (the “WHAT”)

• Must have COMPELLING REASONS. (the “WHY”)

• Act COURAGEOUSLY & MASSIVELY.

• Measure if it’s working – are you getting closer to your OUTCOME?

• CHANGE your approach if it’s NOT working.


“When you change the way you look at things, the things you look at begin to change.”- Dr. Wayne Dyer

CHANGE YOUR PERSPECTIVE!


KEY ENTREPRENEUR SUCCESS QUALITIES

• Positive, Winner’s Attitude• Positive Self Concept/High Self Esteem• Faith and Belief• Takes Massive Action Daily• Learn & Grow Daily• Associate with Positive, Successful People• No Fear of Failure or Rejection• Willing to Take Risks


KEY ENTREPRENEUR SUCCESS QUALITIES

• Take 100% Responsibility• Persistence• Discipline• Goal Oriented• Passionate & Driven• Honest and Trustworthy• Care About Customers• Competitive but Compassionate


Overcoming Limiting Beliefs – we all have limiting beliefs that

negatively impact our attitude, behavior, and

income.


THE IMPORTANCE OF “WHY“

You need to create compelling “REASONS” in order to create BURNING DESIRE and daily MOTIVATION to achieve your

Life Purpose.


80% of success in sales is finding a big enough WHY -

having strong and compelling REASONS to follow through

20% is determining the HOW


Compelling reasons motivate, inspire and drive

you to reach your goals

Most people don’t have enough compelling

reasons why


EXERCISE (ON YOUR OWN TIME)

• Why is becoming a Millionaire Sales Entrepreneur a MUST for you?

• What are 3 COMPELLING REASONS you MUST become a Millionaire Sales Entrepreneur?

• How will making this change impact the quality of your life for you and your family?


POWER OF QUESTIONS

The Questions you ask control what you (or your

customer) think about.


ASKING QUESTIONS

• Asking questions are the most powerful tool for influencing people

• Questions help:• Find out customer wants and motivations• Find out customer values & beliefs• Flush out objections• Test close• Build rapport


MANAGING YOUR STATE• Turn “negative states” into “positive states”

• Change Your Physiology• Change your movement• Change your breathing• Develop “peak state” moves

• Control Your Focus• Focus = Feelings

• Change Your Language• Power Words• Positive Tone


Selling is the process of motivating and influencing

your customer to BUY

Selling is the transfer of emotion from YOU to your

customer


People DON’T BUY for LOGICAL reasons

People BUY for EMOTIONAL reasons and

justify with logic


PEOPLE LOVE TO BUY

“People don’t like to be SOLD, but they love to BUY!”TM - Jeffrey Gitomer, Sales Speaker, Author

Millionaire Sales Entrepreneurs don’t SELL; they understand the

customer's needs and desires and help influence and motivate

customers to BUY


• Make DECISIONS and take massive ACTION.

• Focus on what you WANT, not what you DON’T WANT.

• Focus on OUTCOMES, not on activities.

• Fail MORE…and learn from your failure.

• Live in the PRESENT MOMENT – forget the past.

FORMULA FOR SUCCESS


• Get comfortable with CHANGE.

• Set BIG, audacious goals for yourself.

• Think, talk and act like a WINNER every day in every way.

• LESS is more…simplify your life and focus on what’s important.

• LAUGH, SMILE and have a Positive Attitude every day.

FORMULA FOR SUCCESS


Your DESTINY is to be a Millionaire Sales

Entrepreneur!

Congratulations!


Thank You

Q & A (if time available)

morris tech meetup september 10, 2014 fairleigh dickinson university

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