This week
we tried to answer the following questions:
· How
do you identify and close your very first paying customers?
·
What
are best practices to charge these first paying customers?
·
Should
you charge more or less in the beginning?
·
How
do you develop a sales funnel or conversion funnel?
·
What
are some best practices to track leads and sales?
·
How
do you hustle leads and close the first sales, whether business licenses or
consumer subscriptions?
·
How
do you develop a culture of sales and generating revenues in the early days of
a new company?
Our mentors this week
·
Lauri
Antalainen is an entrepreneur and a manager. His passion is getting things done
and having positive impact on people and businesses. Co-founder in GameFounders
- the first gaming startup focused business accelerator in Europe. They have
invested in around 30 gaming studios from Argentina, Brazil, Netherlands,
Germany, Italy, India, Hungary and other countries. Mentor for startups in
Startup Highway (Lithuania), Mobile App Camp (Macedonia) and other initiatives
in Estonia and Finland.
·
Sven
Illing is a business developer, adviser and investor through iCapital and
startup accelerators GameFounders and Buildit. During last 10 years he has seen
2000+ pitches/startups and helped with some advice & contacts 100+ teams
and invested into 47 startups. He attends 50+ startup events annually,
occasionally speaking or moderating as well.
A few tips on how to do B to B sales
First thing
– pre-approach, map your potential customers. If you want to succeed then just
sending e-mails or calling won’t do. Go on LinkedIn and see who do you have
mutual friends with. Let them provide you with an intro.
The aim of
the first approach is NOT to sell your product – it’s to get a meeting. Once
you achieve that then plan it well. Good structure leaves an excellent
impression.
What should
the first meeting look like:
1. Start off with a short introduction. So
what you do and what your business does.
2. Demand validation. Let them speak about
themselves and then start asking questions. This way you will know what their
needs are and how to demonstrate your product.
3. Demonstration. By now you should know
what the customer s needs are. If you see that the person sitting opposite to
you doesn’t need your product then only do a small demo of it. You never know
he/she might need it in the future.
4. Closing. Make sure you name the price.
Don’t go with “Oh… I will e-mail it to you tomorrow”. At this point your
customer is in a positive mood and more open to think about it rather than
later when they’re already busy with other things. If they are interested in
your product, offer to draft a contract.
5. Make
sure you do a follow up.
If you succeed
then make sure to do your job well. Good recommendations from customers are the
best thing for business!
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