1) Know your ICP (Ideal Client Persona): Knowing whom to sell is half the job done.
2) Respect Time: Time is the ultimate currency in sales, use it wisely. Wasting customers' time and vice versa will end up losing credibility. Do your due diligence before approaching anyone.
3) Value >> Price: Easier said than done.
Communicate Value Deliver Value Money will follow!
4) Movement of Truth: Sales is the moment of truth - Each sales interaction is an opportunity to demonstrate your expertise, build trust, and deliver an exceptional customer experience.
How you handle these moments can make or break the relationship.
At last, Sales is Easy if you focus on understanding your customers, respecting their/your time, communicating and delivering exceptional value, and treating every
Yes, I'm discussing how important it is to develop an entrepreneurial mindset and not to limit your thoughts as an employee only.✅
Recently, I attended the 'Sales Masterclass for Startups' at IIMA Ventures which was organised by eChai Ventures and it gave me a new perspective.🎉
What it feels like to be in the shoes of an entrepreneur can be understood when the respected speakers : Mr.Pankaj Bhimani, Mr. Bhavin Bhagat and Mr. Pratik Patel gave their insights.👏👏👏
Thanks to eChai Ventures for organising the masterclass and providing a great network opportunity to us.
Couple of things I noticed during a conversation about sales strategies for #startups organised by eChai Ventures in partnership with GVFL Limited.
1. Most questions were around negotiation and pricing. It is natural to think that the most difficult part of sales is getting the customer to agree on a price point. This is because that's what we as entrepreneurs hear most objections on. It is also because that is fairly relatable and happens to all sales folks.
But it is important to remember that whatever happens in the room (or video calls) is only 5% of the sales process. 95% of sales happens outside of negotiation and pricing.
Negotiation is just one of the stages.
Building a predictable, repeatable and scalable sales engine is significantly harder than handling negotiation. I'd strongly recommend focusing on the sales engine a lot more, a lot early.
2. People do not focus enough on building trust. Trust is one of those very few things - takes a life-time to build but a moment to lose. Most folks did not realise how valuable proofs, cases and testimonials can be if used the right way and how quick it can make the sales process.
One of the recommendations is - early on, see if you can ride on trust built by someone else. If your #agency does not have enough clients yet, work with an existing agency as a sub-contractor. If your #product does not have enough users/customers yet, launch on marketplaces like AppSumo.
3. In an effort to show our expertise, we end up ripping apart the customer. No one. Absolutely no one wants to be told they are wrong/incompetent over and over. The customer already realises that they have a problem to be solved and that is why they are there to have a conversation with you.
Once you establish in first few minutes of the conversation that you can help them fix that problem, stop pointing out their mistakes. Consider using cases and portfolio to showcase your value. Consider existing ROI calculations to convince them on the pricing.
4. No one likes being sold to. But all of us love an interesting conversation. Ultimately, sales is just interesting conversations. Asking open ended questions to understand them better and sharing your experiences to show them who and what you and your company are.
Strongly recommend treating prospects like a person. Not like a bag of money or a record in your #CRM.
Lastly, focus on the process. Everything else will fall into place.
Thank you Jatin for considering me to join in on this discussion with Vikas from Magenta Insights and Shrijay from LegalWiz.in. It was meaningful. Looking forward to the next one.
....coming together to share their unparalleled insights into sales and entrepreneurship in today’s dynamic business environment.
It's a must-listen for those looking to glean wisdom from top industry leaders on navigating the complexities of building and scaling successful ventures in the fast-paced world of business.
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eChai Ventures partners with select brands as their growth partner, helping them expand market reach, drive revenue growth, amplify brand visibility, and strengthen hiring efforts.
