Morris Tech Meetup
September 10, 2014
Fairleigh Dickinson University
Jim Tousignant
Executive Vice President
Sales and Business Development
Scivantage, inc.
30+ YEARS OF TECH ENTREPRENEURSHIP
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Scivantage - EVP, Sales & Business Development
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PositiveTALK - co-founder and CEO
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Ultimate Escapes - co-founder and CEO
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Thomson Financial - Managing Director, GSAM
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Morgan Stanley - EVP, E-Commerce & Business
Development
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Multex.com– co-founder and President
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ADP Brokerage Information Services– VP Sales
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Multex Software – VP Sales
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Cheyenne Software – VP Marketing
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Mirror Images Software – co-founder and CEO
(c) Scivantage, Inc. 2014
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MULTEX.COM
CO-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.
(c) Scivantage, Inc. 2014
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MULTEX.COM
CO-FOUNDER AND PRESIDENT
• 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.
(c) Scivantage, Inc. 2014
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THOMSON FINANCIAL
MANAGING 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
(c) Scivantage, Inc. 2014
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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
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SCIVANTAGE CLIENT BASE
• 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
CONFIDENTIAL - Scivantage Inc. 3/19/14
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SCIVANTAGE CLIENT BASE
CONFIDENTIAL - Scivantage Inc. 3/19/14
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SCIVANTAGE PRODUCTS
(c) Scivantage, Inc. 2014
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SCIVANTAGE
FINTECH
INCUBATOR PROGRAM
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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
(c) Scivantage, Inc. 2014
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FAST GROWTH OF INCUBATORS/ACCELERATORS
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POSSIBLE INCUBATOR PROJECTS
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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
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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
(c) Scivantage, Inc. 2014
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LEVERAGE STEVENS CAMPUS & FACILITIES
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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 Alumni
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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
(c) Scivantage, Inc. 2014
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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)
(c) Scivantage, Inc. 2014
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SALES IS THE KEY TO
BUILDING A SUCCESSFUL
TECHNOLOGY BUSINESS
HOW MUCH
HAVE YOU SOLD?
• Have you sold $1 million?
• Have you sold $10 million?
• Have you sold $100 million?
• Have you sold $1 billion?
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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.
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Most salespeople don’t
know what their real
problems are and often
clueless about the best
solution
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As a result, most
salespeople massively
underperform their
sales potential
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Most salespeople want
to make major changes
in their sales career and
life, but don’t know how.
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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
(c) Scivantage, Inc. 2014
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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.
(c) Scivantage, Inc. 2014
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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.
(c) Scivantage, Inc. 2014
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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%.
(c) Scivantage, Inc. 2014
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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%?
(c) Scivantage, Inc. 2014
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Why do top salespeople
outsell the average
salesperson by 10 to 1?
(c) Scivantage, Inc. 2014
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Are top sales performers
10 times better, 10 times
smarter or work 10 times
longer?
(c) Scivantage, Inc. 2014
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IS SELLING LUCK OR SKILL?
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IS THIS HOW YOU SELL?
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OR IS THIS HOW YOU SELL?
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WHAT ARE YOU TRYING TO SELL?
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WHO’S TO BLAME FOR
POOR SALES RESULTS?
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HOW IMPORTANT IS
ATTITUDE IN SALES?
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HOW IMPORTANT IS HONESTY
AND INTEGRITY?
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ARE YOU BUILDING LONG-TERM
CLIENT RELATIONSHIPS?
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DO YOU (REALLY) KNOW
YOUR CUSTOMER?
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20% of becoming a Millionaire
Sales Entrepreneur is
mastering sales “mechanics”
(prospecting, qualifying, asking
questions, presentation,
overcoming objections, closing)
(c) Scivantage, Inc. 2014
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80% of becoming a
Millionaire Sales
Entrepreneur is
mastering “sales
psychology”
(c) Scivantage, Inc. 2014
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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.
(c) Scivantage, Inc. 2014
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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.)
(c) Scivantage, Inc. 2014
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Salespeople who are
just 1% better on a
consistent basis can
generate 10x more
sales
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SMALL CHANGES
CREATE BIG RESULTS
1% Solution – small
changes in your thinking,
actions and ability can
results in ENORMOUS
differences in results.
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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)
(c) Scivantage, Inc. 2014
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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%.
(c) Scivantage, Inc. 2014
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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)
(c) Scivantage, Inc. 2014
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Change is a MUST.
If you keep doing what
you’ve been doing, you
keep getting what you’ve
been getting.
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What changes/shift do
YOU need to make to
achieve financial wealth,
happiness and be totally
fulfilled in your life?
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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.
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CHANGE YOUR PERSPECTIVE!
“When you change the
way you look at things, the
things you look at begin to
change.”- Dr. Wayne Dyer
(c) Scivantage, Inc. 2014
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KEY ENTREPRENEUR
SUCCESS QUALITIES
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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
(c) Scivantage, Inc. 2014
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KEY ENTREPRENEUR
SUCCESS QUALITIES
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Take 100% Responsibility
Persistence
Discipline
Goal Oriented
Passionate & Driven
Honest and Trustworthy
Care About Customers
Competitive but Compassionate
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Overcoming Limiting
Beliefs – we all have
limiting beliefs that
negatively impact our
attitude, behavior, and
income.
(c) Scivantage, Inc. 2014
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THE IMPORTANCE
OF “WHY“
You need to create compelling
“REASONS” in order to create
BURNING DESIRE and daily
MOTIVATION to achieve your
Life Purpose.
(c) Scivantage, Inc. 2014
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80% of success in sales is
finding a big enough WHY having strong and compelling
REASONS to follow through
20% is determining the HOW
(c) Scivantage, Inc. 2014
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Compelling reasons
motivate, inspire and drive
you to reach your goals
Most people don’t have
enough compelling
reasons why
(c) Scivantage, Inc. 2014
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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?
(c) Scivantage, Inc. 2014
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POWER OF QUESTIONS
The Questions you ask
control what you (or your
customer) think about.
(c) Scivantage, Inc. 2014
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ASKING QUESTIONS
• Asking questions are the most powerful
tool for influencing people
• Questions help:
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Find out customer wants and motivations
Find out customer values & beliefs
Flush out objections
Test close
Build rapport
(c) Scivantage, Inc. 2014
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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
(c) Scivantage, Inc. 2014
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Selling is the process of
motivating and influencing
your customer to BUY
Selling is the transfer of
emotion from YOU to your
customer
(c) Scivantage, Inc. 2014
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People DON’T BUY for
LOGICAL reasons
People BUY for
EMOTIONAL reasons and
justify with logic
(c) Scivantage, Inc. 2014
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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
(c) Scivantage, Inc. 2014
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FORMULA FOR SUCCESS
• 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.
(c) Scivantage, Inc. 2014
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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.
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Your DESTINY is to be
a Millionaire Sales
Entrepreneur!
Congratulations!
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Thank You
Q & A (if time available)
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