Sales 101 For Your Start Up
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Sales 101 For Your Start Up

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Presentation given by Mark LaRosa, CEO of QuotaCrush and Jeff Stewart, CEO of UrgentCareers on 2/19/2009

Presentation given by Mark LaRosa, CEO of QuotaCrush and Jeff Stewart, CEO of UrgentCareers on 2/19/2009

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  • Started as a programmer – founded my own start-up – quickly moved into sales Been doing sales for over 15 years for start-ups and other small and growing companies Built sales teams – and never missed quota

Sales 101 For Your Start Up Sales 101 For Your Start Up Presentation Transcript

  • Jeff Stewart / Mark I LaRosa
    • Type of customer and product drives type(s) of sales functions needed:
      • Marketing
      • Inside Sales / Telesales
      • Outside Sales
      • Business Development
      • Account managers
      • Hunters vs Farmers
    • Base
    • Commissions
    • Draw
      • Recoverable / Non-recoverable
    • Bonus
    • Quota / Accelerator
    • SPIF (Sales Promotion Incentive Fund)
    • OTE (On Target Earnings)
    • Deals currently being worked in
    • various stages
    • More calls = more leads = more sales
    • PR is best = qualified leads
    • Outsourced lead-generation
      • Hourly / Success-based
  •  
  •  
    • Ask for the sale
    • No gives the chance to ask why?
    • No can mean:
      • Not now
      • Not in that way
      • Not at that price
    • If I… will you….
    • Good Cop – Bad Cop
    • End of quarter pushes
    • Manage to metrics
    • Ultimately expect results
    • Let comp plan do the heavy lifting
    • Press on accelerating the close
      • Flush out deals that are not real
      • Don’t let salespeople trend to the easier conversations
  • Where is your customer?
  • Who should you target?
  • Don't worry, others have blazed this path!
  • The Problems
    • Who to sell to? (Sniper or shotgun?)
    • How do you “cross the chasm” (see: Geoffrey Moore)
    • Do you market or sell? (Answer: Both)
    • When should you get your first customer? (Answer: Yesterday)
    • How do you get your first customers?
    • When and how do you hire someone to focus on revenue?
  • So where is the IP?
    • What to sell
    • Who to sell to
    • How to sell
    Your enterprise value should skyrocket once you figure out:
  • Don't Forget To Call! SEO is great, but there is no substitute for the awesome feedback that comes with rejection.
  • Observations “ There is a strong correlation between more salespeople, more sales calls, and more sales” “ Scale sales as fast as possible, but don’t scale sales till you know your head from your foot.” “ It is risky to more than double the size of any sales force”
  • Finding Sales Hires
    • Finding great salespeople is often the biggest bottleneck for a growing company
    • Failed salespeople are often the biggest waste of capital
    • The right sales team can mean life or death for a startup
    • Great sales people are easier to manage
    • 250 > 25 > 10 > 1
  • Growing the Team
    • The first 5 hires are critical (missionary sales)
    • The next 50 can be less entrepreneurial
    • Most companies find that only half of their sales hires succeed
    • In startups, great salespeople often outperform their mediocre peers by at least 150%
  • Finding Sales Candidates
    • 55% of sales professionals are in the wrong occupation 1
    • Sales professionals that are
    • job-matched outperform their counterparts by 40% and are twice as likely to stick 2
    • Make sure you know what you are looking for.
    1. Croner, Christopher and Richard Abraham, Never Hire a Bad Salesperson Again, Inner Workings LLC, 2006. 2. Greenberg, Herbert and Jeanne, ”Job Matching for Better Sales Performance,” Harvard Business Review no.80505 20% 25% 55% C Players Should not be in sales at all A Players Top Performers Account for 80% of Sales B Players Should be selling elsewhere
  • What To Always Look For:
    • Drive, Motivation, Discipline and Goal Orientation
    • Communication skills
    • Relationship building skills
    • Persuasiveness
    • Ability to handle rejection
    • Intelligence
    • Enthusiasm
  • How to Source and Screen:
    • Define your requirements upfront, and revisit often
    • Look everywhere for candidates
    • Get referrals form friends and investors
    • Interview within multiple settings and dynamics
    • Don’t cut corners
    • Always check references
  • Don't Cap The Upside
    • Sales is not for the faint of heart
    • It’s often feast or famine
    • Reward your stars handsomely
    • Fire underperformers quickly
  • Strong sales will let you negotiate
    • More sales lets you turn away business
    • Customers provide feedback to development
    • Reference accounts lead to more business
    • Investors and Shareholders value revenue.
    • Revenue is a precursor to profit. Profit is society’s way of saying “your business is a success.”