Generating sales is a task that many aspiring entrepreneurs sometimes feel ill-equipped to take on, but no sales = no money. So what is a start-up entrepreneur to do?
Have a detailed marketing plan and sales projections, but take on sales in your business in small chucks. I like to look at things in terms of 30-day sales goals. All I care about is how much money I need to make this month.
Here are SmallBizLady’s 5 tips for building one’s sales savvy
Have a strong 30 second commercial. One of the most important jobs a small business owner has is selling themselves and their business. If an entrepreneur dreads networking, they should find a fellow business owner that will attend events with them. Try to attend three networking events a month. Approach all potentials contacts with a “give to get” mentality. To get the most out of any networking opportunity, it is best to focus on how you can help them first. Every entrepreneur should arm themselves with a killer elevator pitch or as I like to call it their “30 second commercial.” When a business owner can succinctly explain their business, it builds trust. Be sure to add background from the last job or a brief client list and describe the niche target customer. Offer just enough information to get a target interested in chatting again.
Craft a sound sales strategy. The first step in a sound sales strategy is identifying the niche target customer. Then the sales goal should be set for the year and for every 30 days. Once the monthly goal is set, the business owners should determine how many sales activities including developing proposals, meetings, weekly sales calls, emails, networking events and social media marketing activities must take place to meet the monthly goal. If the business is achieving the 30 days sales goals, that’s a good indication that the sales process is working. I also suggest investing in professional sales training, if developing a sales process is too difficult.
Develop an online brand and collateral materials. Small businesses must first invest in a professional website. Professional collateral materials are still appropriate, but electronic versions of all marketing materials should be a top priority. Entrepreneurs should use social media networking to meet qualified leads and then use professional marketing materials to close the business. After all, nothing is more powerful than a personal note on branded stationery.
Use Social Media as much as Possible. Utilizing social media is the best way for small business owners to stay on top of the needs of their customer. Entrepreneurs should know their niche customer, and produce information and products that are needed by that customer. Business owners should monitor blogs in their industry and of their competition. Small business owners should develop signature content as an attraction strategy including blogs, special reports, and white papers to distinguish themselves as a thought-leader in their industry.
Create a Referral Engine. Small business owners should first do great job for their customers. Be sure to thank clients for doing business with a follow-up call or a personal note. Then ask for referrals and create incentive programs such as giveaways, coupons, and finder’s fees to get their customers to become advocates for their small business. Keep in mind: “It’s cheaper to keep her or him. It’s much easier to keep a customer than to go out and find a new one.” Take good care of your customers.
What other sales advice would you give to fellow small business owners?
Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. She has been featured on NBC Nightly News, in Forbes, the Wall Street Journal and Black Enterprise Magazine. Melinda is also the author of the national bestseller Become Your Own Boss in 12 Months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)
Melinda,
Very good succinct and useful set of recommendations. While it may be a little more challenging to do so in the Startup environment I thinking naming targets is a helpful thing to do. Sales requires focus and managing the natural pipeline to deal ratio of at least a 3:1 (i.e. 3 pipeline opportunities for every closed deal). Having named targets creates focus and also drives activity – a nice value add to a startup when they might not know where to begin to scale the mountain.