Learn what not to do with your business as you grow!
In general, most times, how you use something informs how you set it up. Therefore, you should strive to drive people to and through your website. It is also very important to align with your customer’s journey as they go from being aware of a potential problem/pain/challenge to the point where they buy something.
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.
Smaller, founder led companies are always seduced by the allure of big deals. But whether you are at an initial or critical stage, don’t spend all your time fishing for that one big customer or deal.
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.
Not working for free seems like a no-brainer, right? Not quite! As a growing company, this is a real struggle. Remember, working for free will not win sales.
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.
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.
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!
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.
If you still don’t understand your target market, you are NOT ready for salespeople. This may sound counter intuitive for sales, but this podcast will explain:
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”.
Cold calling and emailing is an outdated and ineffective way to market your product/service. Learn how to better contact your perfect customer in today’s episode of “Seriously, Don’t Do That”.
How do you find the "Perfect Customer"? In this Episode I highlight simple tips to help your company find and sell to your ideal customer base.
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