CU NVC Boot Camp: Creating Value, Erick Mueller

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CU NVC Boot Camp: Creating Value, Erick Mueller

  1. 1. VALUE PROPOSITION & FIRST 10 CUSTOMERS January 2012 CU NVC
  2. 2. OVERVIEW <ul><li>Value Proposition </li></ul><ul><ul><li>What is it? </li></ul></ul><ul><ul><li>Why is it important? </li></ul></ul><ul><ul><li>How do you create a great one? </li></ul></ul><ul><ul><li>Examples </li></ul></ul><ul><li>First 10 Customers </li></ul><ul><ul><li>How to set the foundation </li></ul></ul>January 2012 CU NVC
  3. 3. WHO IS ERICK MUELLER? <ul><li>1 of 12 kids </li></ul><ul><li>Founded 4 companies + other companies </li></ul><ul><ul><li>Sold 1, 1 flaming failure, countless lessons and fun </li></ul></ul><ul><ul><li>Funovation video </li></ul></ul><ul><li>Live by key tenets: to be happy! </li></ul><ul><ul><li>Passion, make a difference, challenge, always learn/grow, have fun </li></ul></ul><ul><ul><li>Tour de Happiness, travel/adventure, help others/volunteer, amazing relationships </li></ul></ul>CU NVC January 2012
  4. 4. VALUE PROPOSITION <ul><li>Product/service features </li></ul><ul><li>Target market </li></ul><ul><li>Benefits </li></ul>CU NVC January 2012
  5. 5. Product / service features <ul><li>Description of attributes & environment </li></ul><ul><li>What is unique? </li></ul><ul><li>How produce & deliver? </li></ul>CU NVC January 2012
  6. 6. Target market <ul><li>Targeted entry point based on segmentation </li></ul><ul><li>Demographics & psychographics </li></ul><ul><ul><li>Must understand how make buying decisions </li></ul></ul><ul><li>Business sector, size, characteristics </li></ul>January 2012 CU NVC
  7. 7. BENEFITS <ul><li>Emotional: ambition, power, independence, achievement, ambition, pride of ownership, comfort, love, friendship, security, style, self improvement, etc. </li></ul><ul><li>Social: status, image, popularity with friends or family members, reputation of brand, personal relationships, style, fashionable, etc. </li></ul><ul><li>Health: stress, fitness, mental capacity, strength, sex life, quality of life, muse, etc. </li></ul><ul><li>Financial: revenue, costs, savings, productivity, pricing, profitability, market share, save time, productivity, etc. </li></ul>January 2012 CU NVC
  8. 8. 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
  9. 9. 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
  10. 10. First 10 customers, foundation <ul><li>Solid value proposition and 60-second pitch (forthcoming) </li></ul><ul><li>Sell your vision and passion! </li></ul>CU NVC January 2012
  11. 11. 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
  12. 12. SALES PROCESS <ul><li>Uninterested </li></ul><ul><li>Interested </li></ul><ul><li>Involved </li></ul><ul><li>Convinced </li></ul><ul><li>Committed </li></ul>CU NVC <ul><li>Opening benefit </li></ul><ul><li>Investigate </li></ul><ul><li>Demonstrate </li></ul><ul><li>Obtain Commitment </li></ul><ul><li>Get Order </li></ul>Customer Salesperson January 2012
  13. 13. SECRETS TO SELLING YOUR FIRST 10 <ul><li>Know and develop YOUR style </li></ul><ul><li>Asking questions! </li></ul><ul><li>Listen! </li></ul><ul><li>Provide/offer solutions </li></ul><ul><li>Two words : thank you </li></ul><ul><li>Referrals, referrals, referrals </li></ul>CU NVC January 2012
  14. 14. YOUR STYLE <ul><li>“ 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) </li></ul><ul><ul><li>Ra-ra Thinker </li></ul></ul><ul><ul><li>Rapport builder Closer </li></ul></ul><ul><li>There are numerous ways to sell… </li></ul><ul><li>DO NOT force yourself into a mold </li></ul><ul><li>Most important = be yourself and genuine then “add” selling skills & techniques </li></ul>CU NVC January 2012
  15. 15. ART OF THE QUESTION <ul><li>Close-ended (No-no ’s) </li></ul><ul><ul><li>Yes/no questions </li></ul></ul><ul><ul><li>Tend to shut-down conversation </li></ul></ul><ul><ul><li>Ex = “Do you like this product?” </li></ul></ul><ul><li>Open-ended (Now we ’re talking!) </li></ul><ul><ul><li>Tend to promote discussion </li></ul></ul><ul><ul><li>Probing – enable solutions to objections </li></ul></ul><ul><ul><li>Ex = “What do you like about this product?” </li></ul></ul>CU NVC January 2012
  16. 16. LISTEN! <ul><li>You know the cliché : “two ears, one mouth” </li></ul><ul><li>A skill that can be learned </li></ul><ul><li>Cited by leaders as #1 skill to successful selling </li></ul><ul><li>Enables connecting and problem solving…which leads to higher sales </li></ul>CU NVC January 2012
  17. 17. PROVIDE/OFFER SOLUTIONS <ul><li>Simple : ID customer ’s pain (probing questions) and demonstrate product/service as the solution </li></ul><ul><li>DO </li></ul><ul><ul><li>Inform/educate the customer </li></ul></ul><ul><ul><li>Offer a selection of solutions </li></ul></ul><ul><li>DO NOT </li></ul><ul><ul><li>Force/push a sale </li></ul></ul><ul><ul><li>Manipulate data to deceive </li></ul></ul>CU NVC January 2012
  18. 18. THANK YOU! <ul><li>Two very powerful selling words </li></ul><ul><li>Opportunities to say, “thanks” </li></ul><ul><ul><li>Networking </li></ul></ul><ul><ul><li>Prospecting </li></ul></ul><ul><ul><li>Post-appointment </li></ul></ul><ul><ul><li>Post-purchase </li></ul></ul><ul><ul><li>Referrals </li></ul></ul><ul><ul><li>Whenever someone helps you and your business! </li></ul></ul>CU NVC January 2012
  19. 19. REFERRALS, REFERRALS, REFERRALS <ul><li>Build a book of business </li></ul><ul><li>Farm/mine customer base for additional sales </li></ul><ul><ul><li>Ask for others who might be interested </li></ul></ul><ul><ul><li>Discount promotion </li></ul></ul><ul><li>Benefits </li></ul><ul><ul><li>Very little money – bootstrap! </li></ul></ul><ul><ul><li>5x better closing ratio </li></ul></ul><ul><ul><li>Less cold-calling </li></ul></ul><ul><ul><li>More fun! </li></ul></ul>CU NVC January 2012
  20. 20. 6 WAYS TO BE LIKED <ul><li>Become genuinely interested in other people. </li></ul><ul><li>Smile. </li></ul><ul><li>Remember that a person's name is to that person the sweetest and most important sound in any language. </li></ul><ul><li>Be a good listener. Encourage others to talk about themselves. </li></ul><ul><li>Talk in terms of the other person's interests. </li></ul><ul><li>Make the other person feel important - and do it sincerely. </li></ul>CU NVC Dale Carnegie, How to Win Friends and Influence People, 1936 January 2012
  21. 21. WIN PEOPLE TO YOUR THINKING <ul><li>The only way to get the best of an argument is to avoid it. </li></ul><ul><li>Show respect for the other person's opinions. Never say, &quot;You're wrong.&quot; </li></ul><ul><li>If you are wrong, admit it quickly and emphatically. </li></ul><ul><li>Begin in a friendly way. </li></ul><ul><li>Get the other person saying &quot;yes, yes&quot; immediately. </li></ul><ul><li>Let the other person do a great deal of the talking. </li></ul><ul><li>Let the other person feel that the idea is his or hers. </li></ul><ul><li>Try honestly to see things from the other person's point of view. </li></ul><ul><li>Be sympathetic with the other person's ideas and desires. </li></ul><ul><li>Appeal to the nobler motives. </li></ul><ul><li>Dramatize your ideas. </li></ul><ul><li>Throw down a challenge. </li></ul>CU NVC Dale Carnegie, How to Win Friends and Influence People, 1936 January 2012
  22. 22. MY TAKE ON IT… <ul><li>Ask for the business! </li></ul><ul><ul><li>#1 error by all salespeople = they don ’t ask for the sale!? </li></ul></ul><ul><li>LOVE what you sell </li></ul><ul><ul><li>If you ’re not enthusiastic about what you’re offering, how will anyone else be? </li></ul></ul><ul><li>Present enthusiastically </li></ul>CU NVC January 2012
  23. 23. MY TAKE ON IT… <ul><li>DO NOT separate Sales & Marketing </li></ul><ul><li>You ’re always selling…so study it and become amazing </li></ul><ul><ul><li>Your idea </li></ul></ul><ul><ul><li>Your business </li></ul></ul><ul><ul><li>Your employees </li></ul></ul><ul><ul><li>Your product/service </li></ul></ul><ul><ul><li>Your vision </li></ul></ul>CU NVC January 2012
  24. 24. MY TAKE ON IT… <ul><li>Be disciplined </li></ul><ul><li>Focus on SOLVING PROBLEMS, not “selling” </li></ul><ul><li>Uncover and use your style </li></ul><ul><li>Study it! </li></ul><ul><ul><li>Closing techniques Art of asking questions </li></ul></ul><ul><ul><li>Rapport building IDing buyer types </li></ul></ul><ul><li>If not your core competency, fill the gap </li></ul>CU NVC January 2012
  25. 25. SALES ROLE-PLAYING <ul><li>“ NOTHING HAPPENS UNTIL SOMETHING IS SOLD….” </li></ul>CU NVC January 2012
  26. 26. SALES ROLE-PLAYING <ul><li>Demo in class </li></ul><ul><li>Role-play </li></ul><ul><ul><li>Pair-up </li></ul></ul><ul><ul><li>10 minutes </li></ul></ul><ul><ul><ul><li>5-7 minute pitch </li></ul></ul></ul><ul><ul><ul><li>3-5 minutes of feedback </li></ul></ul></ul><ul><ul><li>Switch – salesperson becomes customer </li></ul></ul><ul><li>Feedback on: </li></ul><ul><ul><li>Overall effectiveness </li></ul></ul><ul><ul><li>Probing questions </li></ul></ul><ul><ul><li>Listening </li></ul></ul><ul><ul><li>Enthusiasm </li></ul></ul>CU NVC January 2012
  27. 27. <ul><li>“ Choice, not chance, determines one’s destiny. ” </li></ul><ul><li> --Unknown </li></ul>CU NVC January 2012
  28. 28. RESOURCES <ul><li>1.            Brodsky, &quot; The truth about selling ,” http://www.inc.com/magazine/19960201/1543.html INC Magazine, 1996. </li></ul><ul><li>2.            Carroll, The art of salesmanship is the absence of  salesmanship ,” http://www.inc.com/articles/1998/06/15333.html INC Magazine, 1998 </li></ul><ul><li>3.            Stansell, Hire a sales rep to peddle your wares http://www.inc.com/articles/2000/07/20157.html) INC Magazine, 2000 </li></ul>CU NVC January 2012
  29. 29. RESOURCES <ul><li>1.                   Susan Greco, &quot; Marketing: 1+1+1 = The New Mass Market &quot;, Inc Magazine, Jan, 2003 (about WhiteWave, Boulder) http ://www.inc.com/magazine/20030101/25025. html </li></ul><ul><li>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 </li></ul><ul><li>3.                   Osborne, D.M., Bootstrap Marketing: Taking on Proctor & Gamble </li></ul><ul><li>Inc Magazine, Oct. 2000 http ://www.inc.com/magazine/20001001/20439. html </li></ul>CU NVC January 2012
  30. 30. THE ART OF THE 60-SECOND PITCH January 2012 CU NVC
  31. 31. OVERVIEW <ul><li>Foundation </li></ul><ul><li>Let ’s create one! </li></ul>January 2012 CU NVC
  32. 32. THE STEPS <ul><li>A hot minute. They pack up after this. </li></ul><ul><li>Hook ‘em with your story (20) </li></ul><ul><ul><li>Who are you and why should they care? </li></ul></ul><ul><li>Reh-cug-nize the problem (15) </li></ul><ul><ul><li>Then wow them with stats/numbers. Jaw drop. </li></ul></ul><ul><li>Treat ‘em to the solution (15) </li></ul><ul><ul><li>Better than anyone. Wallets open. </li></ul></ul><ul><li>Bring home the Kool-Aid (10) </li></ul><ul><ul><li>Offer or request </li></ul></ul><ul><li>Use it on all peeps, everywhere </li></ul><ul><li>Show ‘em yo’ grill </li></ul><ul><ul><li>Be passionate! </li></ul></ul>CU NVC January 2012
  33. 33. SAMPLE <ul><li>Hook with Personal Story (20 seconds) </li></ul><ul><li>“ 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.” </li></ul>CU NVC January 2012
  34. 34. sample <ul><li>Problem with Stats (15 seconds) </li></ul><ul><li>“ 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.” </li></ul>CU NVC January 2012
  35. 35. sample <ul><li>Solution with Credibility (15 seconds) </li></ul><ul><li>“ 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 .” </li></ul>January 2012 CU NVC
  36. 36. sample <ul><li>Conclusion with Call-to-Action (10 seconds) </li></ul><ul><li>“ 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.” </li></ul>January 2012 CU NVC
  37. 37. sample <ul><li>……WITH A SMILE AND PASSION! </li></ul>January 2012 CU NVC

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