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.
Doing this as a genuine individual (neither as a sales person nor a strategy) has helped us significantly at both Clientjoy (Acquired by Synup) and at Momentum Ventures.
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.
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.
Doing this as a genuine individual (neither as a sales person nor a strategy) has helped us significantly at both Clientjoy (Acquired by Synup) and at Momentum Ventures.
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.
The eChai Effect - In Their Words
"I attended my first eChai event 3 yrs back, and no one knew me in the market. Over the next three years, eChai didn’t only help me with knowledge or networking, but it gave me an identity from being unknown to now being recognized by a group of inspirational entrepreneurs connected with eChai, who have been gracious enough to acknowledge me and Digipple."
Viraj Rajani
Co-Founder, Digipple
“You don’t plan to build a company via eChai. You just keep showing up … and one day, you realize you did.” I’ve known Jatin since 2012, when I was still deciding what kind of second innings I wanted to play as an entrepreneur. Over the years, through events, chai breaks, intros, and seemingly small conversations, eChai helped shape not just Upsquare but also refined the lens through which we see collaboration. At Upsquare, we’ve hired talent, met partners, discovered co-investors, and built lifelong friendships. One of our joint ventures exists today only because a casual eChai memory sparked a deeper trust. Now, as we build House of Starts — our venture builder — eChai continues to fuel our mission: co-creating a shared future. eChai isn’t just a startup network. It’s a trust network. And for business builders like me, that makes all the difference."
Utpal Vaishnav
Founder @ Upsquare & House of Starts • Angel Investor + LP
“When we launched LegalWiz.in back in 2016, concept of procuring legal and compliance services through a digital commerce platform wasn't as prominent in India. eChai played a significant role in providing the early adopters, and building significant positioning in the startup fraternity. Overtime, eChai grew to be a massive network of like-minded entrepreneurs and extended that benefit to all the members in a true "co-rise" spirit. I personally love to attend eChai events, learn from subject matter experts who share relatable and actionable insights and experiences. For startup journeys, it is so important to be surrounded by people who can add relevance, perspective, and push you to do better. Most importantly a group of people where you aren't being judged about things going right or wrong, but be a motivational force that keeps you going, yet keeping you in check. eChai is that place for me!”
Shrijay Sheth
Founder at LegalWiz.in and Hire4Higher Consulting
eChai Partner Brands
eChai Ventures partners with select brands as their growth partner - working together to explore new ideas, open doors, and build momentum across the startup ecosystem.
