one clear sign that you’re a “nice-to-have”:
everyone you show it to says “cool!” but no one buys.
in this excerpt of “From Impossible to Inevitable“, jason lemkin and i talk about how to be a “need-to-have”.
There’s a fundamental distinction between strategy and operational effectiveness.
– Michael Porter
The sales stack is messy
Last year brought an influx of new technologies to the sales world—ranging from automatic call transcription to social selling engagement platforms—promising no shortage of “solutions” to any and all sales problems. Eager investors followed, spawning a new technology segment representing over 300 companies with $10B in venture funding. However, with change comes complexity. How do salespeople find their way through this sea of new tools?
Your sales team shouldn’t be spending hours looking for solutions and self-testing—you should be on the forefront and solving problems before this happens. Remember: salespeople should be selling, not searching for answers to their problems. That’s your job.
PeopleLinx announces new release as sales tech landscape takes shape – VB Insight
And it gets worse…
The specialized sales model has added further complexity, leading to a fragmented marketplace
Every Friday, we’re answering your questions about business, startups, customer success and more.
In last week’s Friday Q&A, David asked:
My answer was:
You have two options:
- Become a great marketer
- Find and hire a great marketer
Becoming a great marketer has truly never been easier. The number of resources out there that can help you get better is huge for just about any industry you can think of.
For great book marketing tips, I’d start here:
- How to Write a Bestselling Book This Year — The Definitive Resource List and How-To Guide
- 12 Lessons Learned While Marketing “The 4-Hour Body”
- Behind The Book Campaign: How to Sell 30,000 Copies in Six Weeks
- Everything Tim Grahl has written on his book marketing resources page
As for hiring a marketer—Tim Grahl, who I mentioned above, actually runs a book marketing agency—I’ve shared a few tips in the pastContinue reading "Friday Q&A: How To Sell Anything"
Growing a business is hard. Dealing with this makes it even harder.
A lot of people want to know the “secret” to growing their business.
They want “the one thing” that’s going to take them from where they are to where they dream of being.
By now, anyone who reads this blog—or any of the countless amazing entrepreneurship resources on the web—knows that there is no such magic bullet.
That the fundamental keys to success are simple but hard:
- Make something that people badly need or want.
- Make it easy for people to make the decision to buy from you.
- Treat your customers really, really well.
- Don’t screw it all up along the way.
With enough persistence, struggle and learning, the first two eventually begin to take care of themselves.
But that third one—trying not to completely go off of the rails—is a tall order that has killed more than
65% of entrepreneurs believe that fundraising in 2016 will be more difficult than in 2015, according to First Round’s survey. The volatility in the stock market, the steady erosion of public multiples, and the broad decline of seed, venture and growth investment in Q4 2015 seem to portend a repricing of the startup market. In light of those changing circumstances, entrepreneurs should prepare a few different analyses for 2016.
First, the company should list the milestones they would like to achieve before raising the next round and a financial model that projects the capital requirements to attain those milestones. The SaaS fundraising market has become relatively efficient and good initial targets for raising Series A and Series B are roughly $100k and $250k in MRR, plus or minus $50k in MRR.
Next, the company should develop a cash flow forecast to answer the question, Can the startup achieve those Continue reading "3 Questions for Startups to Answer for Themselves in a Volatile Fundraising Environment"