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Sales Strategy

Easy to Buy = Easier to Sell

By on January 5th, 2009 in Sales Management, Sales Strategy, Start-ups
5 comments

This morning I went to buy a cup of coffee.  This coffee shop charged $1.95 for a cup of coffee – after tax it was $2.11 per cup.  I watched as the line built up and built up while the cashiers made change for each person that tried to buy a simple cup of coffee.  I even saw people walking away because the line was getting too long.  I wondered why this shop didn’t change the price just to make the act of buying a cup of coffee that much easier.  There is a LOT of margin in a $2 cup of coffee – and by simply lowing the price (even a penny) they could have made buying the coffee that much easier and I would argue, made more money in the long run.

Easy to Buy = Easier to Sell full post

(611 words, estimated 2:27 mins reading time)

Who to hire for my start-up? Gray hair or jeans

By on December 18th, 2008 in Compensation, Sales Management, Sales Strategy, Start-ups
7 comments

In speaking to so many start-up entrepreneurs, I get the same question over and over again:  what type of sales person should I be hiring?

This is a very interesting dilemma for start-up companies as they begin to build their sales plan, and as they try their best to get to profitability.  You have a serious choice.  Do you hire someone who is experienced in sales or do you hire a junior, super-energetic salesperson.

Who to hire for my start-up? Gray hair or jeans full post

(860 words, estimated 3:26 mins reading time)

Start with the right sales relationship

By on December 17th, 2008 in Random Thought, Sales Management, Sales Strategy
7 comments

In the past two days, I’ve gotten a call from two of the banks that I do business with.  The first one, Chase, holds my home equity line, and I got a call from a woman who wanted to talk to me about my line.  The second bank is TD Bank and they hold my personal checking account and also my QuotaCrush business account.

What was interesting is that both banks were calling me with essentially the same exact pitch.  Both women that called me wanted to call to establish a “relationship” with me.  They wanted to let me know that they would be my “personal banker” and that I could call them with any questions and concerns and they would help me out.

Start with the right sales relationship full post

(947 words, estimated 3:47 mins reading time)

My Christmas Tie Mistake

By on December 10th, 2008 in Sales Management, Sales Strategy
5 comments

Mickey Christmas TieThis morning I had a sales meeting, and before I went I sent out a tweet that said “business casual sales meetings means I get to wear my really cool Christmas ties almost never… I think I’m going to wear them anyway…”

So… I go to my meeting, and the very first thing the man says to me is, “Interesting tie choice. I’m curious as to why you would wear that.  I think perhaps you didn’t think about whether wearing a Christmas tie would bother me.”  I was caught quite off-guard and for a moment thought perhaps he was following me on twitter and was making a joke about my morning comment – but alas he wasn’t.  He was truly upset at my tie choice.

My Christmas Tie Mistake full post

(466 words, 1 image, estimated 1:52 mins reading time)

The December Sales Problem

By on December 7th, 2008 in Compensation, Sales Management, Sales Strategy
1 comment

The end of any quarter is deal-making time, but December is the best of them all.  I was talking to a salesperson the other day whose opinion was, “nothing happens in December”  Ah, how UNTRUE!  In fact, when other people slow down, its the chance to make a big deal.  But… there is a problem with December that puts sales people against sales managers and while both are aware of it, it certainly creates problems for all sides.

The December Sales Problem full post

(517 words, estimated 2:04 mins reading time)

Using your network to make contact

By on December 3rd, 2008 in Compensation, Sales Management, Sales Strategy, Tools
1 comment

Sales professionals live and die by their network.  Becoming a very successful salesperson typically means that you can use your network to its fullest to get and GIVE introductions, referrals, and more.  There are dozens of posts on ways to build and maintain your network (and I’ll likely have several posts here on this), but what do you do when you want to ask someone in your network for assistance in making contact?

Using your network to make contact full post

(616 words, estimated 2:28 mins reading time)

Sales Presentations: No demos….EVER!

By on December 1st, 2008 in Sales Strategy
15 comments

I recently spoke at the NY Xpo for Business at the Jacob Javitz center on the topic of “Knockout Sales Presentations” and one of my tips that drew the most controversy was when I said, “During a sales presentation, you never, ever, ever, ever give a demo.”

Before I fully explain my position, I want to give credit where credit is due.  Much of the basis of my presentation comes from the Pitch Coach himself, David S. Rose, who provides advice to entrepreneurs looking for angel investors.  If you want to view his presentation, its on his blog here.  What my presentation did was rather than look at presenting to raise money, it was how to take theses ideas and apply them to making a killer sales presentation.

Sales Presentations: No demos….EVER! full post

(606 words, estimated 2:25 mins reading time)

Bringing Sales Feedback into Product Development

By on November 21st, 2008 in Sales Strategy
3 comments

I just read a great post by Jeff Stewart of the UrgentGroup on Sales as R&D in a startup.  The article talks about how in a start-up, your sales team is your R&D.

The wrap up to his post echos a lot of what I say to my teams:

Many engineers I talk to have the misguided “if we build it, they will come,” approach to sales.  To this I say: Bull.  In 1999, I had the chance pleasure of meeting most of the Google sales team in a hotel bar.  Let me tell you, they weren’t talking about algorithms.  While the PHDs at Google deserve a lot of credit for building a great product, we can’t forget that the innovations of the sales team developed for the company.  They are very responsible for getting Google to where it is today.

Bringing Sales Feedback into Product Development full post

(378 words, estimated 1:31 mins reading time)

Sales lessons from my 7 year old: Humility / Just do it

By on November 20th, 2008 in Sales Strategy
No comments yet

Since I started writing this blog, I’ve looked for sales lessons in everyday life. I blogged a few months ago on sales lessons in a chick flick.  This week, I was treated to a very nice sales lesson from my seven year old daughter.

The other nite, my wife called me and asked me how long it would be before I got home from work because that nite, Erin, my seven-year-old daughter had to go to the PTA board meeting in town and my wife wanted to know if I could watch the other two kids, while she took Erin there.  I wasn’t going to make it home in time, but determined that if we met each other at the school, we would arrive just as the meeting would start.  We could meet there, Erin could do what she needed to do, and then we could all grab a quick dinner.

Sales lessons from my 7 year old: Humility / Just do it full post

(533 words, estimated 2:08 mins reading time)

Business Development vs Sales

By on November 17th, 2008 in Random Thought, Sales Management, Sales Strategy
14 comments

I’ve been having this discussion lately with a number of angel investors about the title “sales” and the title “business development.” 

In the traditional sense, business development people deal with creating channels, partnerships, and stategic opportunities for the company.  Sales are the people that go and get people to give you money for your product. 

Since “sales” can have, in some people’s minds, a negative connotation, there has been this trend to call sales people, “business development people” which I think is supposed to have the effect of making them seem less like people trying to get you to give them money.  Business Development people often have no revenue quota, and instead are managed by objectives.  So, by tagging someone a “Business Development” person, you, in theory, are making their contact with potential customers less threatening.

Business Development vs Sales full post

(453 words, estimated 1:49 mins reading time)

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