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IT Arena 2018
September 30th, 2018
Introduction to Startup Sales
WORKSHOP OUTLINE
I. Who I am and Starta Ventures
I. Before Sales: Startup Fundamentals
I. Intro to sales
A. The sales process
B. Relationship sales
C. Partnerships sales
D. A note on culture
I. 4 step sales method SEED
EVAN MADDEN-PEISTER
Entrepreneurial Roots
My passion for entrepreneurship
and startups began with a passion
for hospitality, F&B. I took that
passion, and applied it as a
founding member of Birch Coffee.
But I wanted more so...
International MBA
Startup Consulting and Launch
STARTA ACCELERATOR
We take companies with European R&D roots
and bring them to New York City for an intense
acceleration program!
Compete, scale, and succeed in the global
economy through a program that puts you at
the center of global business-New York City
We help bridge the gap between operating in
Europe, and operating in the US. Targeted
coaching, programming, and resources to
establish product/market fit, traction, and to
become a part of the US startup ecosystem
BEFORE SALES: STARTUP FUNDAMENTALS
2 Core Questions:
What problem are you solving?
Who is your Customer?
BEFORE SALES: STARTUP FUNDAMENTALS
What problem are you solving?
Who is your Customer?
Your Solution
Value Proposition
BEFORE SALES: STARTUP FUNDAMENTALS
Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
STAGES OF STARTUP CUSTOMERS/USERS
STAGES OF STARTUP CUSTOMERS/USERS: EARLY ADOPTERS
BEFORE SALES: STARTUP FUNDAMENTALS
Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
STAGES OF STARTUP CUSTOMERS/USERS: EARLY MAJORITY
BEFORE SALES: STARTUP FUNDAMENTALS
Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
STAGES OF STARTUP CUSTOMERS/USERS: LATE MAJORITY
BEFORE SALES: STARTUP FUNDAMENTALS
Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
STAGES OF STARTUP CUSTOMERS/USERS: LATE MAJORITY
BEFORE SALES: STARTUP FUNDAMENTALS
Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
Your sales process must answer 4 questions
INTRO TO SALES
What?Why?Who? How?
B2C? B2B? Role of marketing Sales is a skill
WHAT IS THE PAIN???
Source: Courtesy of Scott Galea, Starta Ventures
THE SALES PROCESS
To effectively build your sales process, you must
have answered the 4 questions of sales.
A sales funnel is a mechanism by which you find
customers and focus on those who will buy.
Can you answer these questions for your business?
Source: mailmunch.co
B2C businesses focus on moving customers
through the funnel with content and other
easily scalable models
Source: Courtesy of Scott Galea, Starta Ventures
THE SALES PROCESS
Another common term referring to the customer buying process is
the sales cycle.
● Sales cycles refer both to the amount of time that it takes for
a customer to make a decision
● They also indicate what the customer is thinking at each
stage
● At each stage in the cycle, the goal of a customer meeting is
to give the customer a reason to meet with you again and
move to the next stage
B2B businesses leverage the customer’s sales cycle to
develop a direct relationship with the customer
Source: Courtesy of Scott Galea, Starta Ventures
VS
TYPES OF SALES STRATEGIES
● Both B2B and B2C businesses can augment
their sales process by building referral
partnerships that can reduce the time to sale
substantially.
● The partnership process for B2C and B2B
businesses follows a relationship sales model
What does building partnerships require for your
business?
Direct? Channnel?
Source: Courtesy of Scott Galea, Starta Ventures
RELATIONSHIP SELLING
A relationship sales process relies on:
● Understanding your customer’s key
motivations and strategic imperatives;
● Finding your value wedge; and
● Developing a relationship with a customer
so that they see you as the go-to partner in
your space
Source: Courtesy of Scott Galea, Starta Ventures
THE SALES PROCESS
Actors in the sales process:
Recommenders - Carry out a formal search and will make a
recommendation for or against purchase
Influencers - They influence a purchasing decision but do not make
the final decision
Economic Buyers - Person who controls the budget. Often
concerned with cost/financial efficiency
Decision Makers - Person ultimately responsible for the service
End Users - Ultimate beneficiaries of a service (may or may not
have a say)
Saboteurs - Persons who can obstruct or delay the process
Can you identify the 5 players in a recent sale that you
worked on?
Source: Courtesy of Scott Galea, Starta Ventures
A NOTE ON CULTURE...
A common evaluation of the differences between cultures looks like this, with the US shaded uniformly as a low
context culture, but….
Source: When Cultures Collide, by Richard Lewis
Source: Courtesy of Scott Galea, Starta Ventures
A NOTE ON CULTURE...
A more accurate cultural map of the United States
looks more like this.
Be aware of regional cultural differences and how
they may impact the sales process
The best strategy is to ask.
Source: American Nations, by Colin Woodward
Can you describe cultural differences
between the US and your home country?
Within the US?
Source: Courtesy of Scott Galea, Starta Ventures
The four step method SEED for startups
THE 4 STEP SEED SALES METHOD
Edit Your
List
Prioritize targets
based on available
resources
Establish A
Sales Plan
Refine who your
customer is and
define how you will
find them
Strategize
Define your overall
strategy including the
core value and the
customers it serves
Do
Work on your
pipeline and
measure your results
Source: Courtesy of Scott Galea, Starta Ventures
THE 4 STEP SEED SALES METHOD
Identify and refine your business model
● What are you selling and to whom?
● How are you positioned?
● What is your pricing?
Business model canvas can be helpful
STRATEGIZE
Can you summarize your overall strategy?
Source: Courtesy of Scott Galea, Starta Ventures
THE 4 STEP SEED SALES METHOD
Focus on on the customer and identify their key desires
and concerns
● Also use feedback from your iteration process
● Where do you find your customer?
● Are they in an industry or a vertical ?
ESTABLISH A SALES PLAN
Who are your key groups of clients?
Source: Courtesy of Scott Galea, Starta Ventures
THE 4 STEP SEED SALES METHOD
Divide your prospect list into manageable campaigns based
on similarities between customer types
● Prioritize each campaign based on available
resources
● Refine your messaging for each campaign
● Find your value wedge - What is the 30% that makes
you truly competitive
EDIT YOUR PROSPECT LIST
How would you prioritize the groups of
clients that you are considering?
Source: Courtesy of Scott Galea, Starta Ventures
THE 4 STEP SEED SALES METHOD
Working your prospect list takes time.
● Run a sales meeting with yourself
● Strategize with mentors
● Establish key performance indicators to
measure your progress
DO..
Source: Pipedrive
Describe one sales opportunity that you
are currently working on
Source: Courtesy of Scott Galea, Starta Ventures
CASE STUDY - SEED
Free Agent Source is a startup talent platform seeking to connect consultants with
opportunities at large companies
● Through analysis FAS refined its offering to focus on expertise in HR technology
● Company sizes were refined to focus on mid-sized clients with shorter sales
cycles
● Result was a manageable pipeline of 30 enterprise opportunities that the
founder could work over time
Source: Courtesy of Scott Galea, Starta Ventures
Startup Sales can seem intimidating…
It doesn’t have to be:
-Understand your customer
-Create a strategy
-Build a process
-Develop relationships
-Close business
Source: Courtesy of Scott Galea, Starta Ventures
At the Starta Accelerator, we help you get there
CONCLUSION
THANK YOU!
CONTACT: Evan Madden-Peister
www.linkedin.com/in/evan-madden-peister/
@EvanMPe
e.maddenpeister@gmail.com
Starta Ventures
Source: Courtesy of Scott Galea, Starta Ventures
CONCLUSION

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Evan Madden-Peister. Introduction to Startup Sales

  • 1. IT Arena 2018 September 30th, 2018 Introduction to Startup Sales
  • 2. WORKSHOP OUTLINE I. Who I am and Starta Ventures I. Before Sales: Startup Fundamentals I. Intro to sales A. The sales process B. Relationship sales C. Partnerships sales D. A note on culture I. 4 step sales method SEED
  • 3. EVAN MADDEN-PEISTER Entrepreneurial Roots My passion for entrepreneurship and startups began with a passion for hospitality, F&B. I took that passion, and applied it as a founding member of Birch Coffee. But I wanted more so... International MBA Startup Consulting and Launch
  • 4. STARTA ACCELERATOR We take companies with European R&D roots and bring them to New York City for an intense acceleration program! Compete, scale, and succeed in the global economy through a program that puts you at the center of global business-New York City We help bridge the gap between operating in Europe, and operating in the US. Targeted coaching, programming, and resources to establish product/market fit, traction, and to become a part of the US startup ecosystem
  • 5. BEFORE SALES: STARTUP FUNDAMENTALS 2 Core Questions: What problem are you solving? Who is your Customer?
  • 6. BEFORE SALES: STARTUP FUNDAMENTALS What problem are you solving? Who is your Customer? Your Solution Value Proposition
  • 7. BEFORE SALES: STARTUP FUNDAMENTALS Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/ STAGES OF STARTUP CUSTOMERS/USERS
  • 8. STAGES OF STARTUP CUSTOMERS/USERS: EARLY ADOPTERS BEFORE SALES: STARTUP FUNDAMENTALS Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
  • 9. STAGES OF STARTUP CUSTOMERS/USERS: EARLY MAJORITY BEFORE SALES: STARTUP FUNDAMENTALS Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
  • 10. STAGES OF STARTUP CUSTOMERS/USERS: LATE MAJORITY BEFORE SALES: STARTUP FUNDAMENTALS Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
  • 11. STAGES OF STARTUP CUSTOMERS/USERS: LATE MAJORITY BEFORE SALES: STARTUP FUNDAMENTALS Source: https://customerdevlabs.com/2017/03/20/who-are-early-adopters/
  • 12. Your sales process must answer 4 questions INTRO TO SALES What?Why?Who? How? B2C? B2B? Role of marketing Sales is a skill WHAT IS THE PAIN??? Source: Courtesy of Scott Galea, Starta Ventures
  • 13. THE SALES PROCESS To effectively build your sales process, you must have answered the 4 questions of sales. A sales funnel is a mechanism by which you find customers and focus on those who will buy. Can you answer these questions for your business? Source: mailmunch.co B2C businesses focus on moving customers through the funnel with content and other easily scalable models Source: Courtesy of Scott Galea, Starta Ventures
  • 14. THE SALES PROCESS Another common term referring to the customer buying process is the sales cycle. ● Sales cycles refer both to the amount of time that it takes for a customer to make a decision ● They also indicate what the customer is thinking at each stage ● At each stage in the cycle, the goal of a customer meeting is to give the customer a reason to meet with you again and move to the next stage B2B businesses leverage the customer’s sales cycle to develop a direct relationship with the customer Source: Courtesy of Scott Galea, Starta Ventures
  • 15. VS TYPES OF SALES STRATEGIES ● Both B2B and B2C businesses can augment their sales process by building referral partnerships that can reduce the time to sale substantially. ● The partnership process for B2C and B2B businesses follows a relationship sales model What does building partnerships require for your business? Direct? Channnel? Source: Courtesy of Scott Galea, Starta Ventures
  • 16. RELATIONSHIP SELLING A relationship sales process relies on: ● Understanding your customer’s key motivations and strategic imperatives; ● Finding your value wedge; and ● Developing a relationship with a customer so that they see you as the go-to partner in your space Source: Courtesy of Scott Galea, Starta Ventures
  • 17. THE SALES PROCESS Actors in the sales process: Recommenders - Carry out a formal search and will make a recommendation for or against purchase Influencers - They influence a purchasing decision but do not make the final decision Economic Buyers - Person who controls the budget. Often concerned with cost/financial efficiency Decision Makers - Person ultimately responsible for the service End Users - Ultimate beneficiaries of a service (may or may not have a say) Saboteurs - Persons who can obstruct or delay the process Can you identify the 5 players in a recent sale that you worked on? Source: Courtesy of Scott Galea, Starta Ventures
  • 18. A NOTE ON CULTURE... A common evaluation of the differences between cultures looks like this, with the US shaded uniformly as a low context culture, but…. Source: When Cultures Collide, by Richard Lewis Source: Courtesy of Scott Galea, Starta Ventures
  • 19. A NOTE ON CULTURE... A more accurate cultural map of the United States looks more like this. Be aware of regional cultural differences and how they may impact the sales process The best strategy is to ask. Source: American Nations, by Colin Woodward Can you describe cultural differences between the US and your home country? Within the US? Source: Courtesy of Scott Galea, Starta Ventures
  • 20. The four step method SEED for startups THE 4 STEP SEED SALES METHOD Edit Your List Prioritize targets based on available resources Establish A Sales Plan Refine who your customer is and define how you will find them Strategize Define your overall strategy including the core value and the customers it serves Do Work on your pipeline and measure your results Source: Courtesy of Scott Galea, Starta Ventures
  • 21. THE 4 STEP SEED SALES METHOD Identify and refine your business model ● What are you selling and to whom? ● How are you positioned? ● What is your pricing? Business model canvas can be helpful STRATEGIZE Can you summarize your overall strategy? Source: Courtesy of Scott Galea, Starta Ventures
  • 22. THE 4 STEP SEED SALES METHOD Focus on on the customer and identify their key desires and concerns ● Also use feedback from your iteration process ● Where do you find your customer? ● Are they in an industry or a vertical ? ESTABLISH A SALES PLAN Who are your key groups of clients? Source: Courtesy of Scott Galea, Starta Ventures
  • 23. THE 4 STEP SEED SALES METHOD Divide your prospect list into manageable campaigns based on similarities between customer types ● Prioritize each campaign based on available resources ● Refine your messaging for each campaign ● Find your value wedge - What is the 30% that makes you truly competitive EDIT YOUR PROSPECT LIST How would you prioritize the groups of clients that you are considering? Source: Courtesy of Scott Galea, Starta Ventures
  • 24. THE 4 STEP SEED SALES METHOD Working your prospect list takes time. ● Run a sales meeting with yourself ● Strategize with mentors ● Establish key performance indicators to measure your progress DO.. Source: Pipedrive Describe one sales opportunity that you are currently working on Source: Courtesy of Scott Galea, Starta Ventures
  • 25. CASE STUDY - SEED Free Agent Source is a startup talent platform seeking to connect consultants with opportunities at large companies ● Through analysis FAS refined its offering to focus on expertise in HR technology ● Company sizes were refined to focus on mid-sized clients with shorter sales cycles ● Result was a manageable pipeline of 30 enterprise opportunities that the founder could work over time Source: Courtesy of Scott Galea, Starta Ventures
  • 26. Startup Sales can seem intimidating… It doesn’t have to be: -Understand your customer -Create a strategy -Build a process -Develop relationships -Close business Source: Courtesy of Scott Galea, Starta Ventures At the Starta Accelerator, we help you get there CONCLUSION
  • 27. THANK YOU! CONTACT: Evan Madden-Peister www.linkedin.com/in/evan-madden-peister/ @EvanMPe e.maddenpeister@gmail.com Starta Ventures Source: Courtesy of Scott Galea, Starta Ventures CONCLUSION