During some recent work for one of our startup clients, we came upon a few new revenue generation opportunities that were outside the initial scope of the core product this company sells.
In this particular instance, the organization is in the clean tech space and has a very unique solution that provides an interesting business value proposition. While in a qualifying meeting with a prospect for this firm, the prospect mentioned that they have an additional output to which there could be some value to our client. This outside-the-box possibility had never been explored before, so I took note of this new opportunity and mentioned that post-meeting I would explore the opportunity with our client.
After leaving the meeting, I called the client to discuss the new opportunity. The client was at once immediately intrigued as it seemingly made logical sense and could be an interesting alternative source of revenue generation.
What the above story highlights is that in the startup sales process, listening and keeping an eye out for opportunities that are not directly in your line of sight is crucial. Ensure that you don’t put blinders on during your sales pitch and actively listen and probe for alternative revenue generation opportunities with all accounts.
We have seen a number of startups get moving in one direction only to change quickly when a market dried up or did not even materialize. It’s quick and opportunistic thinking (like above) that can in some cases make or break a startup and can mean the difference between closing the doors and continued success.
Now, I don’t want you to think I’m suggesting changing your entire sales strategy if things are not materializing quickly either – this is not the case. In most startups we have worked with, success materializes after lots of hard work and effort – with the sales process taking 6 to 18 months. What I am suggesting is that you should be on the lookout for additional revenue opportunities that may have not align with your initial startup sales strategy. Take advantage of your knowledge and the information your prospect has provided and see if you can convert not only your direct sale but additional opportunities into revenue generating ones.
Happy hunting! If you have a need for a startup sales strategy or part-time, cost-effective startup sales assistance don’t hesitate to contact us. I am always happy to explore how we can help your organization drive revenues. For more great startup information, sign up for our monthly newsletter.
