Greg Resh, EVP and CFO at Sagamore Ventures, delves into his extensive career spanning various industries. He shares insights on B2B vs. B2C selling strategies and emphasizes the need for accurate revenue forecasting. Resh discusses the vital role of CRM systems in aligning sales and finance for better predictions. He also explores emerging investment opportunities in sectors like AI and blockchain, and the unique dynamics of working with private equity firms. Tune in for essential strategies on securing predictable revenue!
Greg Resh emphasizes the critical differences between B2B and B2C sales, highlighting the need for targeted strategies in both contexts.
Accurate revenue forecasting is essential for financial stability, requiring collaboration between finance and sales teams for effective projections.
Resh identifies emerging investment opportunities in sectors like AI and EVs, urging businesses to align with long-term market demands for sustainable growth.
Deep dives
Greg Resch's Diverse Background
Greg Resch brings over 25 years of extensive experience across various industries, including sports, media, entertainment, technology, and more. As the current EVP and CFO of Sagamore Ventures, he manages financial activities tied to the venture portfolio of Under Armour’s founder. His prior roles include serving as COO and CFO for the NFL's Washington Commanders and CFO at Roc Nation, emphasizing his robust financial and operational expertise. Resch's role in M&A transactions and revenue growth showcases his ability to drive substantial business transformations.
B2B vs. B2C Sales Dynamics
Selling in B2B contexts is often perceived as more straightforward compared to B2C due to the ability to engage directly with businesses, setting clearer objectives and feedback mechanisms. Resch highlights that understanding the needs of businesses facilitates more targeted sales strategies, whereas B2C requires generalizing across diverse consumer preferences. This complexity stems from the variety of individual experiences and motivations that influence purchasing decisions, necessitating more nuanced marketing approaches. For instance, while working with the Commanders, he adeptly navigated both fan engagement and corporate sponsorship deals.
Challenges in Revenue Forecasting
Accurate revenue forecasting is crucial across both B2B and B2C sectors and significantly impacts a company's financial health. Resch has learned that collaboration between finance and sales teams is vital for transparency and realistic projections, which allows for strategic investments and confidence in business decisions. He emphasizes the importance of setting achievable yet ambitious sales targets to ensure that the forecasts remain credible rather than overly conservative. The discussions around missed forecasts underline the necessity for communication and understanding within the executive team to navigate potential pitfalls.
Investment Opportunities and Trends
Resch identifies promising investment sectors including cannabis, sports betting, and artificial intelligence, which are rapidly evolving areas that offer significant potential returns. He stresses the importance of understanding the entrepreneurial landscape and looking beyond immediate trends to identify sustainable growth opportunities, particularly in foundational businesses that support these sectors. Additionally, he points to evolving technological needs with the rise of autonomous driving and electric vehicles, underscoring the potential for innovative ancillary businesses. This strategic investment mindset focuses on long-term viability while ensuring alignment with market demands.
The Role of AI in Business Evolution
Artificial intelligence is increasingly becoming an essential part of business strategy, with firms needing to develop clear AI roadmaps to avoid being left behind in a competitive landscape. Resch notes that AI has the potential to streamline processes and improve efficiency, impacting not just B2B dynamics but consumer interactions as well. He believes that companies not adapting their strategies to leverage AI will struggle in the modern market, emphasizing that both short- and long-term planning around AI is crucial. This transition fosters an expectation for intelligent systems that enhance user experiences and inform business decisions.
In this episode, hosted by John Kaplan and John McMahon, guest Greg Resh shares his extensive experience as an EVP and CFO of Sagamore Ventures. The discussion delves into Resh’s diverse background, covering a wide range of industries from sports to technology. Resh provides insights into the differences between B2B and B2C selling, the critical importance of accurate forecasting, and navigating the private equity landscape. He shares strategies for securing revenue predictability that paves the way to growth, recommending leaders focus on honest communication, strategic alignment, and choosing the right productivity and CRM tools. The conversation also touches on investment opportunities in emerging markets such as EVs, AI, and blockchain, and the nuances of working with PE firms versus family offices.
Tune in and learn more on this episode of The Revenue Builders Podcast.
[00:03:38] Greg Resh's Diverse Career Journey [00:06:54] B2B vs B2C Sales Insights [00:14:24] Challenges in Revenue Prediction [00:30:30] The Importance of CRM in Sales and Finance [00:35:36] The Need for Real-Time Productivity Tools [00:37:31] Accountability in Sales Forecasting [00:39:14] The Importance of Accurate Predictions [00:41:29] Building Reconciliation Plans [00:42:58] Investing in High Performers [00:46:59] The Role of AI in Business [00:48:15] Investing in Emerging Industries [00:58:20] Private Equity and Family Offices
HIGHLIGHT QUOTES
[00:04:16] "I think the part I appreciate the most in retrospect is definitely getting to see these different industries, and really the fact that most of them have had B2B and B2C components." [00:07:41] "It's easy for sure, but I do think it's a little simpler or less complex to sell B2B because you can actually go in and go to that business or that sector, that industry, and really figure out what they're trying to do." [00:16:29] "I think forecasting accuracy is just as important as over-delivering by 20%." [00:18:04] "You can't cut your way to growth. You can't overreact to a miss, but that's why if you're really on top of things and accurate, then you can really manage a business in a short minute, a long term basis more effectively." [00:20:12] "You're negotiating on both sides, right? You're trying to get them up to a realistic number, you're trying to figure out how to put a bogey on top or close that gap or be strategic and creative there."
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