Selling Within The  Entrepreneurial Venture   Ken Merbler June 7, 2010 ©
Quotes On Sales <ul><li>“ In the modern world of business, it is useless to be a creative original thinker unless you can ...
“ Sales Tips From Tough Customers”* Coca-Cola “ Be different. And then make sure you prove it to us” UPS “ We can spot a f...
Sales – Failure Can Breed Success “ I’ve  missed more than 9,000 shots in my career.  Twenty-six times, I’ve been trusted ...
Typical Sales Process Needs Identification Meeting 2 Qualify Lead  Meeting 1 Lead Generation Deliver & Follow-up Negotiate...
Lead Generation Cold Calls Customer referrals Sales $$ Internet Lead <ul><li>Committing yourself to spend two hours a day,...
Lead Qualification  <ul><li>Preparation is key to success – review client web-site, Google management, etc.  </li></ul><ul...
Needs Identification Inventory Problems Need Cost Reduction Improve Customer Satisfaction Need Green Strategy Need Mobilit...
Proposal Development Proposal Development  M 3 <ul><li>Preparing a proposal or receiving an RFP may need additional  </li>...
Negotiate & Close Negotiate & Close M 4 <ul><li>Negotiation usually starts with the client making a demand </li></ul><ul><...
Deliver And Follow-up <ul><li>Be there for the delivery or project kick-off </li></ul><ul><li>Call the week after delivery...
Recommended Sales Planning Steps <ul><ul><li>After the marketing plan consider the following: </li></ul></ul><ul><ul><ul><...
Your Value Proposition  <ul><li>Value proposition Considerations: </li></ul><ul><li>Ask existing clients what value you br...
Reference Books On Sales ©
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Selling within the Entrepreneurial Venture

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Selling within the Entrepreneurial Venture

  1. 1. Selling Within The Entrepreneurial Venture   Ken Merbler June 7, 2010 ©
  2. 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. 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. 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. 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. 6. Lead Generation Cold Calls Customer referrals Sales $$ Internet Lead <ul><li>Committing yourself to spend two hours a day, four days a week prospecting </li></ul><ul><li>Preparation is critical for this step </li></ul><ul><li>Cold Calling (Buy a prospect list) – set date/time for M1 </li></ul><ul><li>Networking Events – association meetings </li></ul><ul><li>Website inquiries- follow-up quickly </li></ul><ul><li>Advertising – brochure, etc. </li></ul><ul><li>Customer referrals – always ask your customers for referrals </li></ul><ul><li>Trade Shows – go to networking events, etc. </li></ul>©
  7. 7. Lead Qualification <ul><li>Preparation is key to success – review client web-site, Google management, etc. </li></ul><ul><li>1 st meeting – Just as important as closing the sale – must bring positive </li></ul><ul><li>energy to this meeting </li></ul><ul><li>Develop a connection as soon as possible – industry understanding critical </li></ul><ul><li>Evaluate interest in your product or service – listening skills important here </li></ul><ul><li>Determine real buyer </li></ul><ul><li>Initial needs identification – use of probing questions </li></ul><ul><li>Can I match my product/service to the clients needs </li></ul><ul><li>Does the person have $$ 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. 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. 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. 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. 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. 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. 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. 14. Reference Books On Sales ©

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