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Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
Selling within the Entrepreneurial Venture
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Selling within the Entrepreneurial Venture

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  1. Selling Within The Entrepreneurial Venture   Ken Merbler June 7, 2010 ©
  2. Quotes On Sales <ul><li>“ In the modern world of business, it is useless to be a creative original thinker unless you can also sell what you create. Management cannot be expected to recognize a good idea unless it is presented to them by a good salesman . “ David M. Ogilvy </li></ul><ul><li>“ We are all salespeople every day of our lives. We are selling our ideas, our plans, our enthusiasms to those with whom we come in contact.” Charles M. Schwab </li></ul><ul><li>“ Salesmanship, too, is an art; the perfection of its technique requires study and practice.” J. C. Penny </li></ul>©
  3. “ Sales Tips From Tough Customers”* Coca-Cola “ Be different. And then make sure you prove it to us” UPS “ We can spot a fake from a mile away. (In other words, don’t oversell yourself)” Intuit “ Go above and beyond. You would be surprised at how few of your rivals even bother to try.” Valero Energy “ Do more research than you think you need to do.” Northrop Grumman “ Be as specific as possible when describing what you can do for us.” * Inc. Magazine, April 2010 ©
  4. Sales – Failure Can Breed Success “ I’ve missed more than 9,000 shots in my career. Twenty-six times, I’ve been trusted to take the game-winning shot and missed. I’ve failed over and over again in my life, and that is why I succeed.” Michael Jordan “ You’ll always miss 100% of the shots you don’t take.” Wayne Gretzky “ Practice doesn’t make perfect. Perfect practice makes perfect” Vince Lombardi ©
  5. Typical Sales Process Needs Identification Meeting 2 Qualify Lead Meeting 1 Lead Generation Deliver & Follow-up Negotiate & Close Sale Meeting 4 Proposal Development Meeting 3 ©
  6. Lead Generation Cold Calls Customer referrals Sales $$ Internet Lead <ul><li>Committing yourself to spend two hours a day, four days a week prospecting </li></ul><ul><li>Preparation is critical for this step </li></ul><ul><li>Cold Calling (Buy a prospect list) – set date/time for M1 </li></ul><ul><li>Networking Events – association meetings </li></ul><ul><li>Website inquiries- follow-up quickly </li></ul><ul><li>Advertising – brochure, etc. </li></ul><ul><li>Customer referrals – always ask your customers for referrals </li></ul><ul><li>Trade Shows – go to networking events, etc. </li></ul>©
  7. Lead Qualification <ul><li>Preparation is key to success – review client web-site, Google management, etc. </li></ul><ul><li>1 st meeting – Just as important as closing the sale – must bring positive </li></ul><ul><li>energy to this meeting </li></ul><ul><li>Develop a connection as soon as possible – industry understanding critical </li></ul><ul><li>Evaluate interest in your product or service – listening skills important here </li></ul><ul><li>Determine real buyer </li></ul><ul><li>Initial needs identification – use of probing questions </li></ul><ul><li>Can I match my product/service to the clients needs </li></ul><ul><li>Does the person have $$ to spend </li></ul><ul><li>1 st step in relationship development </li></ul><ul><li>Set next meeting before leaving - M2 </li></ul>Qualify Leads- M 1 ©
  8. Needs Identification Inventory Problems Need Cost Reduction Improve Customer Satisfaction Need Green Strategy Need Mobility Strategy <ul><li>Preparation, preparation and preparation </li></ul><ul><li>Get the client talking about their business in general </li></ul><ul><li>Relationship development kicks into high gear </li></ul><ul><li>Customers want to know you have the ability to provide what they need </li></ul><ul><li>Need to probe with questions to clarify issues/needs – consider using a </li></ul><ul><li>workshop to gain buy-in to your solution </li></ul><ul><li>Make sure you spent 80% of your time on the best 20% of client opportunities </li></ul><ul><li>Set the next meeting before you leave – M3 </li></ul>Needs Identification – M2 ©
  9. Proposal Development Proposal Development M 3 <ul><li>Preparing a proposal or receiving an RFP may need additional </li></ul><ul><li>qualification before presenting or responding </li></ul><ul><li>Meet with client to clarify requirements – consider using a workshop format to </li></ul><ul><li>get all buyers together to more fully understand the requirements </li></ul><ul><li>Identify others that will be in decision making process </li></ul><ul><li>Do your own “Risk Review” – is this worth my investment </li></ul><ul><li>Sometimes walking away is best to do when your intuition tells you to go </li></ul><ul><li>Can you do deliver the proposal by yourself? If not consider teaming </li></ul><ul><li>Make sure the executive summary is written well and states why the client </li></ul><ul><li>should buy from your company </li></ul>©
  10. Negotiate & Close Negotiate & Close M 4 <ul><li>Negotiation usually starts with the client making a demand </li></ul><ul><li>Avoid making last minute concessions to close a sale – lose credibility </li></ul><ul><li>If you give on a point the client needs to give on a point </li></ul><ul><li>3 types of negotiation (1) Competitive (2) Cooperative & (3) Collaborative </li></ul><ul><li>Must be willing to “Lose” to “Win” </li></ul><ul><li>Ask for the sale and then be quiet! Example: We can start work on Tuesday </li></ul><ul><li>next week if works for your team? </li></ul>©
  11. Deliver And Follow-up <ul><li>Be there for the delivery or project kick-off </li></ul><ul><li>Call the week after delivery or project launch to check-in </li></ul><ul><li>Resolve problems ASAP & listen for more sales opportunities </li></ul><ul><li>Always determine your objective for the follow-up call – put date in </li></ul><ul><li>your schedule </li></ul><ul><li>Following up for 3 reasons (1) Customer Satisfaction </li></ul><ul><li>(2) More sales (3) Referrals </li></ul>©
  12. Recommended Sales Planning Steps <ul><ul><li>After the marketing plan consider the following: </li></ul></ul><ul><ul><ul><li>Who will do the selling – consider training </li></ul></ul></ul><ul><ul><ul><li>Your team needs to have a consistent message to clients </li></ul></ul></ul><ul><ul><ul><li>Develop your value proposition </li></ul></ul></ul><ul><ul><ul><li>Buy prospect lists </li></ul></ul></ul><ul><ul><ul><li>Projected sales budget </li></ul></ul></ul><ul><ul><ul><li>External alliances with other providers, banks, etc. </li></ul></ul></ul>©
  13. Your Value Proposition <ul><li>Value proposition Considerations: </li></ul><ul><li>Ask existing clients what value you bring to </li></ul><ul><li>them? </li></ul><ul><li>Differentiates you from competition </li></ul><ul><li>Prospective customers listen to radio </li></ul><ul><li>station WIIFM – make sure you give </li></ul><ul><li>them WIIFM </li></ul><ul><li>Differentiate by your approach: </li></ul><ul><ul><li>Listening </li></ul></ul><ul><ul><li>Probing </li></ul></ul><ul><ul><li>Research </li></ul></ul><ul><ul><li>Easy to understand </li></ul></ul><ul><li>Relate to customer problem </li></ul><ul><li>Use client examples to illustrate value </li></ul><ul><li>Site visit to reference client to </li></ul><ul><li>reinforce the value </li></ul><ul><li>Value proposition examples: </li></ul><ul><ul><li>Increased revenues </li></ul></ul><ul><ul><li>Faster time to market </li></ul></ul><ul><ul><li>Decreased costs </li></ul></ul><ul><ul><li>Improved operational efficiency </li></ul></ul><ul><ul><li>Increased market share </li></ul></ul><ul><ul><li>Decreased employee turnover </li></ul></ul><ul><ul><li>Improved customer retention levels </li></ul></ul><ul><ul><li>Increased productivity </li></ul></ul><ul><ul><li>Increasing repeat customers </li></ul></ul><ul><ul><li>Net new customers </li></ul></ul>A value proposition is a clear statement of the tangible results a customer gets from using your products or services. ©
  14. Reference Books On Sales ©

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