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BANT Qualification Technique For Young Entrepreneurs (Startup Weekend Kids 2017)

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The use of BANT - an acronym for Budget, Authority, Need and Timing - has been around for decades. For some time, these factors were considered the four criteria that best demonstrated that a specific individual or company was a ‘qualified lead’, and not just a raw inquirer. BANT is a very useful tool for ensuring that entrepreneurs, sales, product and marketing professionals are working with appropriate people and not wasting their time on those that are not in a position to become a customer in the near future. These (lead) qualification principles are still valid today and useful when starting a new venture - a startup.

Published in: Sales
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BANT Qualification Technique For Young Entrepreneurs (Startup Weekend Kids 2017)

  1. 1. BANT for kids Startup Weekend Kids 2017 Bartosz Mozyrko
  2. 2. Sell this pen 1) Get in pairs. 2) One person takes the role of a prospect. 3) The second puts on the seller's hat. 4) The seller will try to sell the pen. 5) Time: 5 minutes.
  3. 3. Did the seller ask questions?
  4. 4. “The art and science of asking questions is the source of all knowledge.“ -Thomas Berger
  5. 5. Imagine this... Jack To have fun Kinga To be comfortable Mark To be reliable
  6. 6. The result
  7. 7. Who would want such a product?
  8. 8. OK, so how do I avoid it?
  9. 9. Authority BANT technique Budget Need Time
  10. 10. Budget Do you have 100% confidence that you are talking to someone who is willing to pay you? Do you know how big the budget is for implementing the solution? Being sure that the prospect is interested in your product is always worth checking if he or she is able to accept your pricing.
  11. 11. Authority Are you sure you are talking to someone who can make the decision? Is it a decision maker or is he/she an influencer? The decision maker may pay attention to completely different benefits of your product than the influencer (e.g. the user).
  12. 12. Need What is the prospect’s business need? To what extent does your product solve his or her pain? Is she aware that she has this problem? By asking questions about business pains and needs, you will get a sense of how much value your product has in the prospect’s eyes.
  13. 13. Time Does the prospect have time to test out your product? Does she plan to buy it this week, a month or a quarter from now, or in the distant future? Talking to a prospect who has set a timeline for making a decision has a better chance of success.
  14. 14. Quality of questions is important It is often a mistake to ask only closed-ended questions, where the answer can only be "yes" or "no". Do you like this pen? Asking closed-ended questions can make conversation difficult, and jeopardize true understanding of prospect's needs. A few examples of open-ended questions: What do you think about...? What could make you to...? What information would be useful to...? When could I follow up to...? What makes it difficult to...?
  15. 15. Exercise once more 1) Let’s swap roles. 2) Sellers - find out what the prospect needs are. 3) Try asking open-ended questions. 4) Align product description with uncovered needs. 5) Time: 5 minutes.
  16. 16. Wrap up When we understand the needs of another person, we can better align with them. This approach is useful not just in business or research, but also in everyday life. If you find yourself asking a closed-ended question, you can always open it up at the end. For example, if you start by asking “Did you find value in this product?" you can follow it up with, "If so, please tell me in what ways.”
  17. 17. Questions = Ideas = Unicorns

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