Throughout our years of entrepreneurial journalism we repeatedly saw the same mistake made by entrepreneurs when presenting their business ideas: not knowing how to sell their products or services.
The sale It is a process that is often long and arduous. The larger the amount, the longer it will take and the more obstacles you will have to jump through. The positive thing is that you will have more time to build a solid foundation so that the relationship lasts. If you want to be the last one standing at the end, don’t push too hard at the beginning.
So much if you are making a pitch to potential investors, or a new partner to join your project, you are, to a certain extent, always selling something. And if you are not aware of this, you are not going to do the right things to ensure success. The truth is that even sales people spend more time selling their own company than they do to their clients.
Knowing how to sell is a set of skills. Many times a transaction is not going to materialize, but the vast majority of the time, you are cultivating a relationship, you are listening to certain needs of your clients, you are investing time and resources or it is simply an act of faith. If you do it right, saying “yes” becomes a logical and emotional choice.
Cold calling is not a synonym for wasted time, both yours and others’. Cold call when you think there is a real opportunity. It will be your first contact with a company or person who has not requested you. Once you have identified the right person, you have to go after them. Otherwise, you will have wasted some of your valuable time and perhaps even damaged your reputation.
Try not to go too far if you don’t know who you are meeting with, what their role is, what motivates them, and how to approach them. Do what you can to learn beforehand what they are doing and what they might be looking for. That way, you can come up with a meaningful strategy. There are ways to do that and adjust the plan as you go, but it comes with experience.
This is probably the biggest mistake that entrepreneurs make in their companies. Sure you want to build a relationship, but if you try to get too personal too quickly, you run the risk of seeming too eager and invading their personal space. Instead, pay attention and react to their cues, tone, and body language.
Often, as a clear attempt to establish a business relationship, we may show that we know what others are talking about. The truth is that the client doesn’t give a damn what you know. He just wants to know if you have a solution to his problem. So he listens.
Knowing how to sell is a game of give and take. If you do it right, you give a little, you receive a little, and you repeat the process over and over again. For example, after providing a general outline of your product, you can ask for feedback on it to determine if an adjustment needs to be made. If, on the other hand, they tell you that they are “not interested”, after having provided a lot of information and getting nothing in return, you may lose the opportunity to offer a tailored solution.
There are several reasons not to rehearse, but the most important is that it is difficult to adapt to new information. Instead, the rule that should always be followed is to simply know your material cold, know as much about what is pitching and works, come up with a reasonable plan, and then ask a bunch of questions, listen to the answers, and adjust as necessary. Trust your instincts.
No matter what happens, remember this: You’re going to make a lot of mistakes, but you’re going to get better over time. Most people think I’m a natural salesman, but nothing could be further from the truth. Just listen and learn… from the right people.
