CU NVC Boot Camp: Creating Value, Erick Mueller

VALUE PROPOSITION & FIRST 10 CUSTOMERS January 2012 CU NVC

OVERVIEW
Value Proposition
What is it?
Why is it important?
How do you create a great one?
Examples
First 10 Customers
How to set the foundation
January 2012 CU NVC

WHO IS ERICK MUELLER?
1 of 12 kids
Founded 4 companies + other companies
Sold 1, 1 flaming failure, countless lessons and fun
Funovation video
Live by key tenets: to be happy!
Passion, make a difference, challenge, always learn/grow, have fun
Tour de Happiness, travel/adventure, help others/volunteer, amazing relationships
CU NVC January 2012

VALUE PROPOSITION
Product/service features
Target market
Benefits
CU NVC January 2012

Product / service features
Description of attributes & environment
What is unique?
How produce & deliver?
CU NVC January 2012

Target market
Targeted entry point based on segmentation
Demographics & psychographics
Must understand how make buying decisions
Business sector, size, characteristics
January 2012 CU NVC

BENEFITS
Emotional: ambition, power, independence, achievement, ambition, pride of ownership, comfort, love, friendship, security, style, self improvement, etc.
Social: status, image, popularity with friends or family members, reputation of brand, personal relationships, style, fashionable, etc.
Health: stress, fitness, mental capacity, strength, sex life, quality of life, muse, etc.
Financial: revenue, costs, savings, productivity, pricing, profitability, market share, save time, productivity, etc.
January 2012 CU NVC

Simple Value Proposition Pete ’s Coffee “ Pete’s Coffee is a Denver based coffee house. Its gourmet coffee, convenient and fast service provide a welcoming environment for people who want to meet with their friends; and a stimulating morning coffee for the on-the-go business person. CU NVC January 2012

Simple Value Proposition SST Corporation “ SST is a stainless steel toothbrush company. By its one bristle brush made of high tensile stainless steel, it provides an exhilarating tooth cleaning experience to thrill-seeking X-gen consumers” 0 http://gizmodo.com/gadgets/gadgets/tifinity-titanium-toothbrush-like-a-metal-scouring-pad-for-your-teeth-235314.php CU NVC January 2012

First 10 customers, foundation
Solid value proposition and 60-second pitch (forthcoming)
Sell your vision and passion!
CU NVC January 2012

WHAT IS SELLING? CU NVC “ Selling is a process, including a transaction that adds value to the buyer by meeting their needs and results in mutual benefit for the seller and buyer.” Contemporary Marketing Wired (1998) by Boone and Kurtz. Dryden Press January 2012

SALES PROCESS
Uninterested
Interested
Involved
Convinced
Committed
CU NVC
Opening benefit
Investigate
Demonstrate
Obtain Commitment
Get Order
Customer Salesperson January 2012

SECRETS TO SELLING YOUR FIRST 10
Know and develop YOUR style
Asking questions!
Listen!
Provide/offer solutions
Two words : thank you
Referrals, referrals, referrals
CU NVC January 2012

YOUR STYLE
“ Styles” (4 of many) ( http://www.beilby.com.au/Employers/Employer+Resource+Centre/Selling+Styles/default.aspx ) (http://www.hrdq.com/content/promos/hrdq-online/WhatsMySellingStyle_SampleOutput.pdf)
Ra-ra Thinker
Rapport builder Closer
There are numerous ways to sell…
DO NOT force yourself into a mold
Most important = be yourself and genuine then “add” selling skills & techniques
CU NVC January 2012

ART OF THE QUESTION
Close-ended (No-no ’s)
Yes/no questions
Tend to shut-down conversation
Ex = “Do you like this product?”
Open-ended (Now we ’re talking!)
Tend to promote discussion
Probing – enable solutions to objections
Ex = “What do you like about this product?”
CU NVC January 2012

LISTEN!
You know the cliché : “two ears, one mouth”
A skill that can be learned
Cited by leaders as #1 skill to successful selling
Enables connecting and problem solving…which leads to higher sales
CU NVC January 2012

PROVIDE/OFFER SOLUTIONS
Simple : ID customer ’s pain (probing questions) and demonstrate product/service as the solution
DO
Inform/educate the customer
Offer a selection of solutions
DO NOT
Force/push a sale
Manipulate data to deceive
CU NVC January 2012

THANK YOU!
Two very powerful selling words
Opportunities to say, “thanks”
Networking
Prospecting
Post-appointment
Post-purchase
Referrals
Whenever someone helps you and your business!
CU NVC January 2012

REFERRALS, REFERRALS, REFERRALS
Build a book of business
Farm/mine customer base for additional sales
Ask for others who might be interested
Discount promotion
Benefits
Very little money – bootstrap!
5x better closing ratio
Less cold-calling
More fun!
CU NVC January 2012

6 WAYS TO BE LIKED
Become genuinely interested in other people.
Smile.
Remember that a person's name is to that person the sweetest and most important sound in any language.
Be a good listener. Encourage others to talk about themselves.
Talk in terms of the other person's interests.
Make the other person feel important - and do it sincerely.
CU NVC Dale Carnegie, How to Win Friends and Influence People, 1936 January 2012

WIN PEOPLE TO YOUR THINKING
The only way to get the best of an argument is to avoid it.
Show respect for the other person's opinions. Never say, "You're wrong."
If you are wrong, admit it quickly and emphatically.
Begin in a friendly way.
Get the other person saying "yes, yes" immediately.
Let the other person do a great deal of the talking.
Let the other person feel that the idea is his or hers.
Try honestly to see things from the other person's point of view.
Be sympathetic with the other person's ideas and desires.
Appeal to the nobler motives.
Dramatize your ideas.
Throw down a challenge.
CU NVC Dale Carnegie, How to Win Friends and Influence People, 1936 January 2012

MY TAKE ON IT…
Ask for the business!
#1 error by all salespeople = they don ’t ask for the sale!?
LOVE what you sell
If you ’re not enthusiastic about what you’re offering, how will anyone else be?
Present enthusiastically
CU NVC January 2012

MY TAKE ON IT…
DO NOT separate Sales & Marketing
You ’re always selling…so study it and become amazing
Your idea
Your business
Your employees
Your product/service
Your vision
CU NVC January 2012

MY TAKE ON IT…
Be disciplined
Focus on SOLVING PROBLEMS, not “selling”
Uncover and use your style
Study it!
Closing techniques Art of asking questions
Rapport building IDing buyer types
If not your core competency, fill the gap
CU NVC January 2012

SALES ROLE-PLAYING
“ NOTHING HAPPENS UNTIL SOMETHING IS SOLD….”
CU NVC January 2012

SALES ROLE-PLAYING
Demo in class
Role-play
Pair-up
10 minutes
5-7 minute pitch
3-5 minutes of feedback
Switch – salesperson becomes customer
Feedback on:
Overall effectiveness
Probing questions
Listening
Enthusiasm
CU NVC January 2012

“ Choice, not chance, determines one’s destiny. ”
--Unknown
CU NVC January 2012

RESOURCES
1. Brodsky, " The truth about selling ,” http://www.inc.com/magazine/19960201/1543.html INC Magazine, 1996.
2. Carroll, The art of salesmanship is the absence of salesmanship ,” http://www.inc.com/articles/1998/06/15333.html INC Magazine, 1998
3. Stansell, Hire a sales rep to peddle your wares http://www.inc.com/articles/2000/07/20157.html) INC Magazine, 2000
CU NVC January 2012

RESOURCES
1. Susan Greco, " Marketing: 1+1+1 = The New Mass Market ", Inc Magazine, Jan, 2003 (about WhiteWave, Boulder) http ://www.inc.com/magazine/20030101/25025. html
2. M. Dana Baldwin, Marketing : A key to long-term success , Inc Magazine, April 3, 2002 http ://www.inc.com/articles/2002/04/24065. html
3. Osborne, D.M., Bootstrap Marketing: Taking on Proctor & Gamble
Inc Magazine, Oct. 2000 http ://www.inc.com/magazine/20001001/20439. html
CU NVC January 2012

THE ART OF THE 60-SECOND PITCH January 2012 CU NVC

OVERVIEW
Foundation
Let ’s create one!
January 2012 CU NVC

THE STEPS
A hot minute. They pack up after this.
Hook ‘em with your story (20)
Who are you and why should they care?
Reh-cug-nize the problem (15)
Then wow them with stats/numbers. Jaw drop.
Treat ‘em to the solution (15)
Better than anyone. Wallets open.
Bring home the Kool-Aid (10)
Offer or request
Use it on all peeps, everywhere
Show ‘em yo’ grill
Be passionate!
CU NVC January 2012

SAMPLE
Hook with Personal Story (20 seconds)
“ When I was 12 years old, I started a lawn mowing business. Beyond cutting grass, I had no idea what I was doing and the business piddled out. It just piddled out, Mikey! Then I went to business school and learned everything I should have done.”
CU NVC January 2012

sample
Problem with Stats (15 seconds)
“ Get this! 43% of teens perform a freelance job by the age of 14. 69% of high schoolers want to start a business. But 90% rate their entrepreneurial knowledge at poor or fair at most. Entrepreneurship is something they want, but they don’t know how.”
CU NVC January 2012

sample
Solution with Credibility (15 seconds)
“ So I’m going to offer all the resources and tools that young entrepreneurs will need to start, run, and build their businesses. I started with a blog. Then we interviewed the world’s top young entrepreneurs and wrote a book. Now we’re getting out and speaking .”
January 2012 CU NVC

sample
Conclusion with Call-to-Action (10 seconds)
“ I have a few more things in the works, Mikey, but I can’t get into them here. Can we schedule a meeting so I can run them by you? I’ll pull together a few ideas on how we can help each other.”
January 2012 CU NVC

sample
……WITH A SMILE AND PASSION!
January 2012 CU NVC

CU NVC Boot Camp: Creating Value, Erick Mueller

by CU_NVC on Jan 23, 2012

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CU NVC Boot Camp: Creating Value, Erick Mueller — Presentation Transcript