Episode 25
A CONVERSATION WITH SCOTT PETERSEN
THE ART OF REINVENTION | SCOTT PETERSEN'S JOURNEY FROM HUMBLE BEGINNINGS TO SERIAL ENTREPRENEURSHIP
Scott told me about a study done that showed if society can increase the “GEI” (global entrepreneurial index) by 10%, then GDP would raise by 23 TRILLION dollars. How incredible is that?
And Scott has done a lot to help this next generation of entrepreneurs succeed, and a lot of it is because of what he experienced on his own journey to success. After having a very lucrative career in B2B sales, Scott then started a bunch of companies that went on to make great exits.
After one exit, he was playing golf when the thought entered his mind that he was wasting his time relaxing and playing to golf—he needed to act.
“Companies fail not because they don’t have enough money—but because they don’t have enough know-how.”
Scott quit his membership at the golf club right then, and he eventually went to go work for BYU’s entrepreneurship program, and through key decisions was able to transform the program into a globally-renowned center for developing entrepreneurs.
He also helped to found RevRoad, an incubator that has helped multiple startups reach the next level of success.
I wanted to highlight Scott’s story because he has done an amazing amount of service to the entire world through his efforts to support the next generation of entrepreneurs. And he’s not done yet, so it’ll be exciting to see what he does next.
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FAVORITE QUOTE FROM SCOTT:
“The highest level of selling becomes consultive.”
On my podcast episode with Scott Petersen, we had a long discussion about sales. Scott is one of the best salesman I know, and has been able to build an incredible career around it. But one thing I especially love about Scott is that in no way is he your typical salesman. He is kind, humble, and loving.
So how did he get so much success?
After he told me those words of wisdom, Scott then went on to elaborate that the way he got great at sales was focusing on 2 things:
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Working harder than everyone else
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Building better relationships than everyone else
As he focused on these 2 things, he noticed that his clients started viewing him as less of a “salesman”, and more of a “consultant”. Someone who was an expert in their industry, knew the problems and pains associated with that industry, (and the costs they bring), and was able to explain it so well that he gave them significant value in the long run.
I just wanted to echo Scott’s philosophy: Focus on being a consultant, not a salesman. I used the same philosophy at during my time at Vivint, and I’ve seen it take companies to the moon.