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Business for engineers part 1: Customers and sales

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A quick introduction to basic business concepts aimed at engineers and all who wish a simple and quick explanation. Part 1 in series covering the customer need stages and sales cycles.

Published in: Business, Engineering
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Business for engineers part 1: Customers and sales

  1. 1. BUSINESS FOR ENGINEERS: CUSTOMERS AND SALES Jan Isakovic @iYan
  2. 2. ABOUT THE WORKSHOPS Short No-nonsense Customers Value proposition Product design MVP Company values
  3. 3. A typical R&D engineer question
  4. 4. SALES DEPARTMENT Y U NO SELL MORE NEW PRODUCTS?
  5. 5. But it’s not really that simple..
  6. 6. CUSTOMER NEED STAGES Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  7. 7. Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  8. 8. Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  9. 9. Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  10. 10. Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  11. 11. Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  12. 12. Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  13. 13. SO.. WHAT DOES THAT MEAN? Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  14. 14. SALES CYCLE LENGTH Short Sales cycle Long Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  15. 15. SERVICES VS PRODUCTS Short Sales cycle Long Professional services (CRM, infrastructure..) Established products (PCs, IP telephony..) Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  16. 16. YOUR SOLUTIONS Short Sales cycle Long Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem Where on the spectrum do they fall?
  17. 17. (PRE)SALES ACTIVITIES Beat competition, send invoice Start selling Marketing Present solution benefits Educate the market* Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem * note: does not work
  18. 18. NOT EVERYONE WINS Low Failure rate High Market testing Absolute Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem Doesn't have a problem
  19. 19. SO WHY TRY? Low Revenue potential High Cost+15% Lots of competition Potential $1B business Almost no competition Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  20. 20. ADDITIONAL COMPLICATION A B C How conservative is your market?
  21. 21. KEY CHALLENGES • Identify and adjust to customer/market stage • Different stages require different marketing and sales approaches • New product revenue is by definition much lower • Get market feedback as soon as possible • If the product succeeds, be prepared for a fast ramp-up AirBnB Facebook iPhone
  22. 22. BUSINESS FOR ENGINEERS 1: Customers and sales 4: Value proposition 2: Product conception 5: Core competencies 3: Minimum Viable Product 6: Company values Jan Isakovic @iYan

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