What aisle, what shelfYour customer has to believe this, not youYou have to know what is next to you on the shelf, how many grocery stores stock just one of something?Where you start, where you endWhat you built on Day 1 is guaranteed not to be what you sell on Day 100LISTEN to your customersPIVOT
Define your technical buyer and economic buyer (they can be the same, but not often)How many people need to be involved in the decision (how long does it take to make a sale, and how do you reach them, see “HOW” slide)
Multi-touch is criticalDepends on how many people you need to reach to make a decision
Do you help cut costs? Increase revenue?Be VERY specific here – in this economy, there needs to be a clearly understood ROI. People don’t fund “projects” muchHow much of the “why” is emotional
DON’T DRINK THE KOOL-AID (Every entrepreneur who has failed)Your stuff is not nearly as good as YOU think it isNAIL IT BEFORE YOU SCALE IT (Steve Blank)Be wary of the “Sugar Daddy”If you can’t create a cookbook, you don’t have repeatability
Transcript of "Njtc bootcamp v2_may2011"
Achieving Sales/Marketing Goals at a Startup<br />Scott Barnett<br />@scottabarnett<br />
Marketing/Sales 101<br />“What” are you selling<br />“Who” is your customer<br />“How” do you reach them<br />“Why” do they need your product/service?<br />“The first principle is that you must not fool yourself and you are the easiest person to fool.” - Richard Feynman<br />
“WHAT”<br />What aisle, what shelf<br />Where you start, where you end<br />
“WHO”<br />Individual, Group, Company, Partnership?<br />B2B vs. B2C<br />
“HOW”<br />Value/Pain/Urgency<br />Think hard about Customer Acquisition Costs<br />
“WHY”<br />Emotion<br />Common mistakes in communicating value proposition (Simon Sinek – “people don’t buy what they do they buy why you do it” - http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html<br />
Entrepreneur Wisdom<br />Tenacity is about pushing forward every day and not accepting “no’s” while resiliency is about taking punches every day and not falling down. (Mark Suster)<br />Forgive and remember (Jeffrey Pfeffer)<br />High touch makes all the difference for a startup to engage with its customers – GET OUT OF THE BUILDING<br />
Must Read Blogs<br />Mark Suster – http://www.bothsidesofthetable.com/<br />Steve Blank – http://steveblank.com/ - and his book (4 steps to the Epiphany)<br />David Skok – www.forentrepreneurs.com<br />Hacker News / Y Combinator – http://news.ycombinator.com<br />Startup Lessons Learned (Eric Ries) - http://www.startuplessonslearned.com/<br />
The Repeatable Sale<br />Always Improve<br />Competition is Good<br />DON’T DRINK THE KOOL-AID <br />NAIL IT BEFORE YOU SCALE IT (Steve Blank)<br />www.repeatablesale.com<br />
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