- Posted by Mark Elliott
- On July 23, 2019
- 0 Comments
Starting in late June, we ran the first cohort of our Innovation Factory Sales Bootcamp. The Sales Bootcamp is comprised of 4 sessions covering sales planning, sales process, sales tools, and sales management. We finished just last week with lots of great interactions, learning, and feedback. There are a few options for sales education for entrepreneurs. If you are in the Hamilton area, consider the Innovation Factory Sales Bootcamp. Here are some of the highlights from our first Sales Bootcamp cohort.
Specify Targets with Buyer Personas
Startups need to be specific on their target clients and associated buyer personas. It is difficult to create a tailored value proposition and use the right sales tactics if you don’t know who you are selling too. Many entrepreneurs are hesitant to narrow this down as they feel they will shrink their market opportunity. I would argue that by not having a targeted customer and buyer personas you are missing clients by not focusing on the right ones.
Talk to Clients
Some of the entrepreneurs in the group felt like they needed to have everything perfect before they engage prospects. I suggest talking to prospects as soon as you can. This allows you to validate many things about your offering ranging from the value proposition to pricing. You may not always target the best or biggest client at the first call, but do identify targets and start getting in front of them.
Track your Time and Money
As a entrepreneur you have two finite resources, especially when you start out, time and money. Track your time and money and relate back to your sales and marketing tactics. This will allow you to understand how you are spending these resources and the return on your investment. Without tracking time and money, you can’t be more efficient and sell more.
Use a CRM
Many of the entrepreneurs in our Sales Bootcamp were not using a CRM. One of the biggest takeaways were the number of attendees that had started using a CRM or planned to use a CRM by the end of the sessions. In the Sales Bootcamp we highlighted Hubspot CRM in our course, but there are many CRM solutions available that are free or nearly free.
Most startup leaders come from a technical or operational background. Many don’t have much or any sales experience. They can often find things like calls, networking, and other sales tactics make them feel uncomfortable. They should embrace that comfortability as it is often when a person learns the most. If you don’t have revenue to support your business, then it is really more of a hobby than a business. Do uncomfortable things to give your business the opportunity to grow and survive.
The next Innovation Factory Sales Bootcamp starts on July 31, with another one in October. Check out their events page for details.