Having an effective website is critical in getting prospective customers and should not be overlooked. A website that is very simple, targeted, has a call to action, chat option, and internal pathways with group content will help you to grow and succeed.
Early-stage companies always prefer being in ‘stealth mode’ when developing a product.
However, this is a bad idea because by the time you emerge from the bat cave, someone else who has been in ‘sales mode’ will have taken over your potential customers.
Part of being a successful growing business is hiring talent and letting them do what they are good at.
However, when it comes to salespeople, it is more advisable to get someone that not only gets you off the launch pad but also helps you develop your own talent.
A demo of your product or service involves investing time and money to put together. If you’re going to do a demo, understand where your buyer is in their process.Take the time to find out if your prospect has identified the problems they need to solve!
You make a sale because someone has a need for the product/service you are offering.
So, instead of relying on procurement, rely on the person that actually needs and will understand the value (not the price) of the solution you are offering.
Don't Pay People For Things You Don't Want Them To Do
The statement ‘Don’t pay people for things you don’t want them to do’ might seem obvious, right?
Think about this from the perspective of your compensation and bonus plans.
We all know that they are absolutely critical for recruiting and maintaining good folks in an organization.
However, the adage Compensation drives behavior is true.
It is a common belief that RFP’s (Request for Proposal) are the way companies buy; and to close business, you need to participate. My answer: Maybe, but probably not! There are some organizations (primarily governmental entities) that handle purchases through RFP, but this is more of an exception than a norm.
Partners are NOT the quickest way to grow your sales revenue
Yeah, it’s hard not to think that recruiting partners is a hack for early stage or growing businesses.
But think about it, these “partners” are many times already selling something, maybe even something that competes with what you sell.
Don't Let Your Ego Get in the Way of Your Company's Growth (Know Your Role)
Growing your company requires confidence, NOT ego. At some point, you have to get smart people who are good at what they do, get out of the way, and let them do it. Know your role, and let great people do great work!
Being a product expert is NOT the job of your salespeople. Their job is to find out what challenge/need a customer is trying to meet and then work with a technical expert to match that with your product or service. In this podcast, we discuss the importance of having your salespeople actually sell!
Don't Hire Sales and Marketing From Your Biggest Competitor
Hiring sales people from a big competitor is a HUGE mistake. Not only for your company, but also for the salesperson themself. The skill set that makes salespeople successful in large companies is the exact opposite from what makes a salesperson successful in small companies.
A company invests time and money in a customer, explaining a product or service. Then the price is exposed to the customer at the very end, only for the customer to say it’s way off their budget and walk away. Check out this week's podcast so you don’t make the same mistake.
An overcomplicated sales process can lead to lost sales and significantly lower revenue. Simpler is Better! Find out how you can fix this problem in your company in this episode titled: “Don’t Overcomplicate Your Sales Process”.
“The customer is always right” is an abused and overused statement. Taking a severe loss to please a customer can be very hurtful for your company. Learn how to negotiate a “Win-Win” scenario on this episode of “Seriously, Don’t Do That”.
When was the last time you bought something from someone that called you on the phone?
A majority would answer “never” to this question. Why? Because our behavior has changed over the years. The way we, and our customers, buy and communicate has changed dramatically.
The number one reason businesses fail, regardless of size, is that they don’t know who their customer is. Therefore, they take the easy route, defaulting to everyone is my customer.
Technically, this could be true. But practically,you have to figure out who your customer is.
The introduction podcast for our series “Seriously, Don’t Do That” is out now. In this short episode, I outline what “Seriously, Don’t Do That” is all about. Tune in next Tuesday where I will talk about the first DDT (Don’t Do That). I think you will find it very helpful!