This is an indication of a bad sales execution. If early in the sales cycle when a SCOTSMAN technique is applied, the Money and the Need factor have to be discussed, documented and taken off the table.
We typically establish a formal process for three reasons:
Few Startups invest in hiring seasoned inside sales teams and that's a mistake.
Your chances of success are far lower than established companies so you need to prospect a LOT more and be ready take failure on the chin. No one is better at handling rejection and at building sales momentum than an experienced inside sales team.
Let's face it.. Everyone likes getting a deal but few of us are comfortable negotiating, or worse getting negotiated with. We all need this skill and with practice we can get comfortable with the act.
Elements of a "good" deal to happen:
1. Both the buyer and seller leave feeling good after the deal
2. The buyer gets the seller referral, repeat business
4. The seller sees value of a larger deal in the near future.
For this, sellers should plan (and practice) upfront for negotiations. Here's how I do it.
A sales team will never have it's act fully baked. But the clients don't know that unless you make it obvious. Who knows they might not have their act together either. Just feel the waters, and stick to a published agenda for the call. As long as the sales team doesn't talk over one another, has a strong alpha leading the team and the clients learning something new that helps them do better in their jobs, you'd come back. Just make sure there's a follow on note going out after the call stating what was discussed and next steps, task owners with timelines to act by.
It's a ruthless world and often employers will try NOT pay a consultant the pre-agreed upon dues. One of my clients got into this situation and asked me for help.
Through a series of role plays, I coached him on visuals, body language and orals. Ultimately the guy walked into the meeting with confidence and left the meeting with a check! Here's a skinny of what matters in such negotiations. It's a mickey mouse game so play by the rules.
Power is perception: Request a 1:1 meeting in person in a neutral location. Be there before time, choose a seating location that positions you in a state of power!
When I write a sales playbook, one of my foremost questions of my client is about who is the competition and what are they week at? The idea is simple and well known! Tell me the enemy's weakness and a related strength you have, and our playbook strategy has a chance! Most CEOs arm their sales teams with just their product strengths. That leads to surprises in the field. Don't be that CEO!
Hiring the right sales person with acumen is critically important to a startup. There's a lot at stake and you need to be prepared. Here are my top-10 in no particular order..
No one likes to call in cold but at some point it has to be done to draw eyeballs! especially when your brand isn't well established. How else would the world know you existed? But there is a science to the mad-ness that can make you be of value to clients so fewer of them hangup on ya! So here's my approach.. I've added a sample script below..
# 0 Prepare upfront and practice a lot:
#1. Speak less but site numerical evidence, that counts as more: Tell them as little as possible. Talk about a relevant pain and how you have address it for others. Short sentences.. Talk no more than 30-seconds in one go. Ask a question soon after.. make them participate and feel in control.
Life gets better each day I live. I truly could not have wished for a better script to my life.
And if I was given the option to start over again, I would ask to be dealt the same set of cards! Happy Thanks giving to all of you.
I mentioned this nugget to a business prospect a few days ago and thought you's like to hear of it as well. In the year 2000, I helped develop a fast and lean piece of web technology called the Portal (think my.yahoo.com). The product was the fastest and one of the very early enterprise web technologies around. in 2001, Yahoo! came offered us a sweet partnership deal; one that would have given us access to rich content and an applications focus that the market really needed (in hindsight).
Q: I spend a lot of my time doing pipeline generation and with selling. Can I outsource the sales function? We can’t pay this sales guy a salary but we need sales help.
Theodore Roosevelt said, “Far and away the best prize that life has to offer is the chance to work hard at work worth doing.” I couldn’t agree more. Here's my top #9 tips to help maintain that relationship with work and for balance.
#1. Schedule time for family. It's just as important as work. Plan ahead. It's so much less stress on your head once the plan is in place. Plan quality time with kids, perhaps homework help and a interesting story before they go to to bed. Quality time with your spouse is critical. Plan that much sort out date months in advance.
#2. Plan for you personal down time. I find my passion and creativity where I zone out of the present. To each his/her own zeal.. Poker nights, fishing trips, a guys only vacation 2-3 days, long bike rides etc. You'd come back completely refreshed.
Dear Startup CEO:
If I were creating a field sales organization for my own company, I'd plan the sales strategy knowing the following:
Every so often I get a panic call from sales teams asking how they should handle a pricing negotiation smack when they are on the table with the prospect. With proper planning, one shouldn't even have to negotiate much and more importantly be comfortable with the process. Here's my top five:
NOTE: The learnings from this blog site are not a substitute for a training course; training courses are not a substitute for working together in the field. If the content here resonates and you want to explore further, give me a call.