E30 – Zero to $2B Acquisition with Steve Corndell, Turbonomic

Earlier this year, IBM expressed its intent to acquire Turbonomic as it sees the company’s potential to boom in the coming years. Along with this, Turbonomic’s services are also in line with IBM’s thrust to make automation much easier for companies.

This acquisition was valued at $2 billion, and it is set to help Turbonomic further develop its technology for application resource management. However, despite its stellar product, the driving forces for Turbonomic’s success are its high-quality team and its leaders.

This episode of Tech Sales Insights Live features Steve Corndell, the Chief Revenue Officer for Turbonomic.

What Does Turbonomic Do?

To get a better understanding of the company, it is important to know the two factors that go into Turbonomic’s application resource management process.

Corndell identifies the first as an APM solution, which analyzes the app’s architecture and code. This ensures that the app functions smoothly and is written well.

The second factor is the app’s resourcing feature. This is, essentially, the app’s ability to make smart decisions that boost its performance. Turbonomic is able to see the demand of the application in real-time and ensure continuous resourcing.

By focusing on automating these two factors, customers no longer need to investigate potential breaks in their systems. The automation allows for a 37% to 40% improvement in terms of response time, and customers are able to break the pattern of waiting for something to break before analyzing what they can do to improve.

This intelligent, data-centered approach has allowed Turbonomic to get ahead of its competitors, providing customers with smart solutions that optimize the way apps perform. However, this was not without its challenges.

Overcoming The Challenges of Scaling a Tech Company

Turbonomic has built a massive client base over the last decade. One of the biggest challenges when it comes to tech is breaking into the market because there is no shortage of tech companies trying to provide customers with smart solutions. Fortunately, Turbonomic was ahead of the market when it began, particularly because it presented itself as an issue-prevention platform.

Another challenge that many tech companies face is building up a good team. To have a good team, a company must have a set of talented, like-minded individuals who have the singular goal of bringing the company to success. Turbonomic was able to achieve this by shifting away from the traditional mindset of boxing team members into one category.

Turbonomic’s heads made sure that all team members were relatively well-versed in what the company had to offer and had a sufficient understanding of tech processes. Getting all team members up to speed on tech is quite challenging, but Turbonomic was able to train its sales leaders in such a way that they know how to teach other team members the concepts surrounding their product.

In Corndell’s perspective, perhaps the toughest part of being a CRO is scheduling. With many time zones to keep track of and meetings to attend, scheduling becomes an incredibly difficult feat. The key to staying on top of everything is successful time management.

Turbonomic During the COVID-19 Pandemic

Like most other companies across the globe, Turbonomic experienced a massive shift in the way it conducted business. The need for efficient healthcare services became even more apparent, and they had to transition to a work-from-home setup. However, despite the challenges of the pandemic, Turbonomic’s hybrid sales model was able to adapt to the new normal.

Zoom meetings were already a regular part of their days, so when the pandemic hit, the Turbonomic team was ready to transfer all of their meetings to Zoom. Customers also became more open to conducting meetings through Zoom, which made it easier for the Turbonomic team to communicate with them.

Corndell emphasized the importance of consistently keeping the whole team on the same page. This, he believes, is what helped Turbonomic grow despite a tumultuous business environment during the past year. He and the rest of his team would keep regularly scheduled meetings to give updates and hear from each department.

Turbonomic’s Team Mindset

As mentioned, Turbonomic is incredibly team-oriented and puts relationships at the heart of its service. Corndell says that each team member becomes a valuable part of Turbonomic, and they try to facilitate a culture that allows team members to learn from each other and help one another.

“The culture is so important in any sales organization that I really believe that a lot of these guys on the team, they also are friends outside of work,” says Corndell.

Recruitment is also a crucial part of Turbonomic’s business process. Corndell says that he always looks at the value a new team member can bring to the team and whether or not they can build long-lasting customer relationships during their time with the team.

Key Takeaways

Corndell repeatedly emphasized the impact of his various relationships throughout his life that have shaped him to become the leader he is today. Perhaps this is why building relationships play a big part in how Turbonomic’s company culture was developed. With its customer and team-centered perspective, Turbonomic will only continue to scale and produce smart solutions that cater to exactly what its customers need.

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