Sales Feed
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.
In the age of overselling and misselling, how do you truly drive sales?
An Incredible event hosted by eChai Ventures X GVFL Limited, delved into this very question: How to get early customers to scaling your sales.
Key Takeaways:
1. Listen & Ask the Right Questions: Allow your target customers to share their pain points. Avoid assumptions, and simply listen.
2. Don’t outsmart your customer.
3. Under Promise, Over Deliver:
It’s easier said than done. Making sales promises you can't keep damages your credibility in the long run.
4. Don’t sell to everyone.
If your customer is everyone then your customer is no one.
5. Invest in PR:
PR means Perception that drives Reality. Create Perception by investing in PR activity.
6. Base your research on facts, not assumptions.
7. Lead Magnets >> Money Magnets: Offer exceptional value through lead magnets to convert target customers into loyal fans.
Last not but least,
8. Find ways to collaborate with people:
Be the person that everyone wants to collaborate or be that person who collaborates with everyone, Read that again.
Thanks for sharing invaluable insights Jatin Chaudhary, Shrijay Sheth, Yash Shah , Vikas Mundhra, Kamal Bansal & Mihir Joshi.
An Incredible event hosted by eChai Ventures X GVFL Limited, delved into this very question: How to get early customers to scaling your sales.
Key Takeaways:
1. Listen & Ask the Right Questions: Allow your target customers to share their pain points. Avoid assumptions, and simply listen.
2. Don’t outsmart your customer.
3. Under Promise, Over Deliver:
It’s easier said than done. Making sales promises you can't keep damages your credibility in the long run.
4. Don’t sell to everyone.
If your customer is everyone then your customer is no one.
5. Invest in PR:
PR means Perception that drives Reality. Create Perception by investing in PR activity.
6. Base your research on facts, not assumptions.
7. Lead Magnets >> Money Magnets: Offer exceptional value through lead magnets to convert target customers into loyal fans.
Last not but least,
8. Find ways to collaborate with people:
Be the person that everyone wants to collaborate or be that person who collaborates with everyone, Read that again.
Thanks for sharing invaluable insights Jatin Chaudhary, Shrijay Sheth, Yash Shah , Vikas Mundhra, Kamal Bansal & Mihir Joshi.
Masterclass on Sales & Entrepreneurship from The Barbershop with Shantanu:
This exclusive roundtable features:
🎤 Shantanu Khosla: Vice Chairman, Crompton Greaves
🎤 Tanmay Bhat: YouTuber, Comedian, Investor
🎤 Vani Kola: Managing Director, Kalaari Capital
🎤 Arjun Purkayastha: Senior VP, Reckitt
🎤 Vivek Gambhir: Chairperson, boAt lifestyle
🎤 Rohit Kapoor: CEO, Food Marketplace Swiggy
🎤Shantanu Deshpande, Founder & CEO, Bombay Shaving Company
....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.
🎤 Shantanu Khosla: Vice Chairman, Crompton Greaves
🎤 Tanmay Bhat: YouTuber, Comedian, Investor
🎤 Vani Kola: Managing Director, Kalaari Capital
🎤 Arjun Purkayastha: Senior VP, Reckitt
🎤 Vivek Gambhir: Chairperson, boAt lifestyle
🎤 Rohit Kapoor: CEO, Food Marketplace Swiggy
🎤Shantanu Deshpande, Founder & CEO, Bombay Shaving Company
....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.
🚀Key Takeaways from eChai Ventures Sales Strategy Meet Up (I Moderated) at Ideas to Impacts Hub! But That's Just the Tip of the Iceberg!
What an energy-charged 2.5 hours we had yesterday (Saturday, Feb 10th’24)! As your moderator, I was blown away by the depth of knowledge and practical tips shared by our Panelist.
1: Suvikas Bhandari - VP of Straget and GTM at Pazcare
2: Shyam HN - Co-founder and CEO at Boomerang
3: Supriya Rao - MD India ClearRoute
Here's just a taste to whet your appetite:
Winning Game:
⭐️ Mastering Lost Deals: Suvikas Bhandari ji urged us to analyze even with high conversation rates, as the "why" behind lost cases holds the key to future wins.
📚Salesperson's Bookshelf: Get inspired and boost your negotiation skills with "Never Split the Difference: Negotiating As If Your Life Depended On It. Book by Christopher Voss and Tahl Raz”, and "The Art of War - Book by Sun Tzu”, recommended by Suvikas ji.
⭐️Scaling Your Sales Dream Team: Shyam HN shared a framework for building a high-performing sales development team, including adapting outreach channels to target personas and optimizing for results.
⭐️Building Trust, Closing Deals: Supriya’s insights on handling objections with intelligence and honesty resonated deeply, emphasizing the importance of trust in the sales journey. She also stressed prompt communication, responding within 24-48 hours and keeping prospects informed.
But that's just the tip of the iceberg! This post only scratches the surface of the valuable knowledge shared during the session.
What an energy-charged 2.5 hours we had yesterday (Saturday, Feb 10th’24)! As your moderator, I was blown away by the depth of knowledge and practical tips shared by our Panelist.
1: Suvikas Bhandari - VP of Straget and GTM at Pazcare
2: Shyam HN - Co-founder and CEO at Boomerang
3: Supriya Rao - MD India ClearRoute
Here's just a taste to whet your appetite:
Winning Game:
⭐️ Mastering Lost Deals: Suvikas Bhandari ji urged us to analyze even with high conversation rates, as the "why" behind lost cases holds the key to future wins.
📚Salesperson's Bookshelf: Get inspired and boost your negotiation skills with "Never Split the Difference: Negotiating As If Your Life Depended On It. Book by Christopher Voss and Tahl Raz”, and "The Art of War - Book by Sun Tzu”, recommended by Suvikas ji.
⭐️Scaling Your Sales Dream Team: Shyam HN shared a framework for building a high-performing sales development team, including adapting outreach channels to target personas and optimizing for results.
⭐️Building Trust, Closing Deals: Supriya’s insights on handling objections with intelligence and honesty resonated deeply, emphasizing the importance of trust in the sales journey. She also stressed prompt communication, responding within 24-48 hours and keeping prospects informed.
But that's just the tip of the iceberg! This post only scratches the surface of the valuable knowledge shared during the session.
Preferred eChai Business Partners
The eChai Preferred Business Partners program enables businesses more visibility within the eChai Network through an annual subscription.
About eChai Business Partner Program:
Key benefits:
- Listing on preferred eChai Business Partners page (1 year duration)
- Engagement at relevant in-person eChai Meetups (~4 meetups/year)
- Feature on eChai.Ventures
eChai Ventures is a friendly global startup network that hosts engaging Startup Growth meetups in 10+ Countries and enables cross-border collaborations.
You can reach out to Jatin Chaudhary, Co-Founder, eChai Ventures over WhatsApp or over email at [email protected] to explore more about it.