David Sells Goliath: Landing Your First Fortune 500 Customer


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John Casko, founder and CEO of BFS Consulting, which helps small early stage and seed level technology based companies find and establish loyal, high margin, and repeat early adopting customers in the form off Fortune 500 and worldwide market segment leaders. John’s expertise lies in helping innovative companies make their first sale. John will share a methodology he has developed in over a decade in the field through work with more than two dozen companies in a wide range of fields. Though the session’s methodology is is primarily designed for business-to-business (B2B) companies, all types of entrepreneurs will benefit from hearing John’s expertise.

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David Sells Goliath: Landing Your First Fortune 500 Customer

  1. 1. Greetings EntreFest!John S. Casko, Jr.BFS Consulting319-331-1995 (cell)jcasko@BFSWorkhorse.com
  2. 2. Where we will go…John S. Casko, Jr.BFS Consulting319-331-1995 (cell)jcasko@BFSWorkhorse.com• Start: Your Example• Think about a big potential customer you wantto talk to?• My background• What is Sales?• The best purchase you ever made?• Pasteurizers• Complexity?• Methodology• Live Demo
  3. 3. The Process…1- What to look for2- Where to look3- How to Start Digging
  4. 4. Key Points…Focus on:• Your most appreciativecustomer• Their use case• What they value• The units they use tomeasure that valueThis is your corecompetencyTo find names:• Jigsaw.com !!• Company Websites,news + events• Industry Conferences• Focus on Title/PositionTo find Target Customers:• Think like a user/buyer• Companies who sharethat use case• Their Competitors• The Supply Chain• Industry Associations• Advertising
  5. 5. To Engage…Early stage needs authenticity• Be Brutally open• Be Hyper Selective• Focus on the “yeses”• Forget the “nos”Be respectful and to the point:• Who you are• What you do• Ask permission• 1:30 sec elevator pitch• “is that something you get involvedwith?”• Just like looking for a job as ateenager… “I have a lot to offer…”
  6. 6. Live demo…Where do you want to go today?
  7. 7. ex: LightSprite…
  8. 8. Google Search DLS…
  9. 9. Website for Malvern…
  10. 10. Jigsaw for Malvern…
  11. 11. Contacts for Malvern…
  12. 12. Engage…What do you say?Part I (≤ 20 seconds)• Who you are• What you do…• Ask permission…Part II (lemonade stand pitch)• Again, restate your company purpose• What your company does, core functionality/offering• How people use your product• Why you are calling them, specifically• Share the use case you had in mind• Ask “is that something you get involved with…” and then just bequiet…• That is the yes/no qualifier
  13. 13. Engage…What do you say?Part II (cont.)• Ask “is that something you get involved with…” and then just bequiet…• That is the yes/no qualifier• If yes: Inquire and ask for help• How do you get involved with that?• What is the best way to go about introducing a company likeours to your company?• How do you go about assessing new technologies such as ours?• So you are familiar with that use case?• How much of an issue is that for you?• What are you doing currently to solve that?• What should I do next?• Ref: Eric Reis, The Lean Start-Up/4 steps to the Epiphany:• http://theleanstartup.com/
  14. 14. Part I…template (< 15 sec!)• “Hello, is this <their name>? Hi, <their name> , My name is <yourname> and I am the <your title> for <your company name>. Weare a (optional : an early stage) <your company’s offering> out of<your location> + optional: and the <your center>, in the US.”• “Did I catch you at a bad time?”• If “yes” => “I’m very sorry, I will call you back…” (they mayoffer or suggest a time, or they may suggest that won’t benecessary…but neither is necessary.• OK to end the call quickly—show maximum respect for thefact that they are busy• You can always call back, and always call back.• If “no” => “Well, I can quickly tell you why I am calling.”• Engage part 2
  15. 15. Part I…example (< 15 sec!)..2013 03 IC CoLab MarchGeneric Call intro, 15 sec.m4a
  16. 16. Engage Part II…template• More background (shortened elevator pitch…)• How you thought your product might help them…• Why you thought to call them, specifically…• Is that something they get involved with?• That is the yes/no qualifier• If yes: Inquire and ask for help• How do you get involved with that?• What is the best way to go about introducing a company likeours to your company?• How do you go about assessing new technologies such as ours?• What should I do next?
  17. 17. Engage Part II…example• Hello, is this _____ ?• Hi ____ my name is John Casko and I am the Development personfor an early stage natural language processing company calledHollingsworth Technologies out of Athens, GA, in the US.• Did I catch you at a bad time?• As I mentioned, our company has emerging NLP technology thathas showed breakthrough potential in auto-summarizing orsemantically indexing large volumes of digital text.• This technology has demonstrated advanced functionality in pilotprojects processing scientific content, medical content, USPTOcontent…etc.• We think it might be particularly useful in auto-summarizing voice-to-text transcripts of surveillance audio tapes and email collections.• I had you down as the e-Discovery Director for the DoJ, is thissomething you get involved with our would have any thoughts forus on?
  18. 18. Part II…example (< 1:30 sec)• Voice Recording• Call part II- B.m4a
  19. 19. Part II…example (email)
  20. 20. Lessons Learned…Intro Comments• Correlations• Germany is 90% the same as US• Want to focus on similarities (you can get the rest)• Recognize it is a process• Thoughts on sales• What have you bought?• About finding, not persuading• That’s how I live with myself• In order to find something you need to• Know what you are looking for• Know where to go look, and• How to put a pick into the ground..• I can talk for months, where do you want to go?Points• Cmdty vComplex Soln• Acct mgmt vprospecting• timelines
  21. 21. Questions?John S. Casko, Jr.BFS Consulting319-331-1995 (cell)jcasko@BFSWorkhorse.com
  22. 22. Thank You!John S. Casko, Jr.BFS Consulting319-331-1995 (cell)jcasko@BFSWorkhorse.com
  23. 23. Appendix: Tools
  24. 24. Tools: CRM…CRM- Contact/Customer Relationship Management• Tons of solutions…just choose something• Required to manage process, critical to keep track ofactivity/sanity• MS Outlook or equivalent (desktop/web/mobile)• ACT! By Sage (desktop/web/mobile)http://na.sage.com/sage-act• Microsoft Dynamics CRMEnterprise level (order, service tracking and more…)• Oracle/Siebel http://www.oracle.com/index.html• Salesforce http://www.salesforce.com/
  25. 25. Tools: Finding aCompany/Customer…• Google (really?!)• Ex: Dynamic Light Scatter => Horiba• Find Competitors• Hoovers.com , et. al. http://www.hoovers.com/• Industry Events/Activity/Professional Societies =>seminars, tradeshows,• http://www.diahome.org/• Sponsor activity/Advertising• News section of website, events section of website• Go where a customer is advertising…look for others• Try the Supply Chain• http://www.sae.org/
  26. 26. Tools: Finding a Person…• http://www.jigsaw.com/
  27. 27. Tools: Finding a Person…• LinkedIn http://www.linkedin.com/• Company Websites Ex: Wyatt• Wyatt => About UShttp://www.wyatt.com/company/about/about-wyatt.htmlExecutive Teamhttp://www.wyatt.com/company/executiveteam/executiveteam.html• News =>http://www.wyatt.com/events/news/events.html• Events =>• http://www.wyatt.com/events/news/news.html
  28. 28. End….Isms…• Pasteurizers: Finding not persuading..• Not Black Magic• Bell curve• De gustibus…• Purpose/function• One customer…• Reasons!• Not about price..• No one likes being told…Points• Cmdty vComplex Soln• Acct mgmt vprospecting• timelines
  29. 29. Thank You!And….
  30. 30. …Go Irish!!
  31. 31. Oops, I mean…
  32. 32. Go Hawkeyes!