Starting a business is a challenging journey, and it’s even harder when you’re trying to grow it. One of the most important parts of growing a business is selling. In this Modern Selling Podcast episode, I discuss with my guest, everything you need to know about selling in tough times and how to navigate it as an early stage growth company.
David Weiss is an accomplished salesperson, leader, and business strategist with 20 years of experience in the technology, consulting, and professional services industry. He is the CRO of The Sales Collective, a sales think tank that helps companies assess their people, build their process building, train their teams, and hire future top performers. He is also the founder of DealDoc a mobile application to help salespeople see problems in their opportunities and actions they can take to solve those problems. He joined me in this week’s episode to explore all about startup culture and the pursuit of sales success.Ready to revolutionize your #startup's sales culture?🚀 Check out this insightful @GoModernSelling #podcast ep w @DWMEDDPICC & host @M_3Jr on the keys to achieving #SalesSuccess! 📈 Click To Tweet
What is Product Market Fit and how to recognize it
Product market fit is when people come to you, and you don’t have to convince them to try your product. Buyers and subscribers come naturally, and you make money every single month from your clients. Different people have different definitions of product market fit, but the bottom line is that it sells itself.
David explains that in order to recognize product market fit, you need to look at your clients and how long it takes to make money from them. When you have product market fit, people come to you, and you don’t have to convince them to buy your product.
The Importance of Having the Right Technology
Another item in our conversation was around how technology is crucial when it comes to sales. You need to have the right tools to manage your sales team, track leads, and manage your pipeline. Without the right technology, it can be challenging to scale your sales efforts and stay on top of your sales data.
Product Development: IT and Engineering Resources
Product development is a crucial part of any business, and you need to invest in IT and engineering resources to build a product that people want to buy. Without a solid product, it’s challenging to sell it, even if you have the best sales team in the world.
Once your product is finalized, David argues, you need to have the right people and processes in place for sales. You need to create a buzz around your product to scale, and this is marketing-driven. You need to drive people to your brand and create a community of loyal customers.
David also explains how most founders make the mistake of not leveraging themselves through social channels. Social media is a powerful tool that can help you build your brand and create a community of loyal customers.
Watch the video for this episode here:
Grit and Hard Work: The Startup Culture
In David’s words: “Startup culture is all about grit and hard work.” You need to have a team of people who are willing to put in the hard work to make your business successful, and I couldn’t agree more. That is what has made Vengreso’s FlyMSG so succesful.Looking for game-changing #sales tips? 🔑 Dive into this enlightening @GoModernSelling #podcast ep w host @M_3Jr & @DWMEDDPICC 🌟 as they unveil the secrets to building a thriving #startupculture Click To Tweet
When to Hire Your First Sales Person
Before you even think about hiring your first sales person, there are a few things you need to have in place. David says that the first thing is, as previously mentioned: product-market fit. You need to ensure that your product is in demand and that people are willing to pay for it. You also need to have marketing in place to drive people to your brand. Finally, you need a founder that will invest time and effort into the sales process.
Once you have these three things in place, you can start thinking about hiring your first sales person. You should look for someone with basic sales skills such as sales engagement, sales productivity tools, conversation intelligence, and prospecting tools. They should also have the right information and know how to sell your product.
When to Get Your VP Sales – What to Look For
As your business grows, you’ll eventually need to hire a VP of Sales. When looking for a VP of Sales, you should look for someone who has experience in scaling sales teams and has a proven track record of success. They should also be able to adapt to the ever-changing product and strategy of a startup.Calling all #sales leaders!🌟 Don't miss this must-listen @GoModernSelling ep @M_3Jr w @DWMEDDPICC about cultivating a winning #salesculture. 🚀 #StartupCulture #Podcast Click To Tweet
Founder Lead Growth VS Sales Lead Growth
And to finalize all the points of our conversation, David talks about how many founders overestimate their ability to sell their product. They have a deep belief in their product before it’s ready, and this can lead to overinvesting in sales before investing in marketing or even resources and product development. Product-market fit is crucial, and you need to make sure you have everything in place before investing in sales teams and technology.
Listen to the full conversation to get all the details about these topics and more!