Entrepreneurial Sales Model

07/28/2016 00:05:27 to watch
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Traditional discussions of sales focus on the “sales cycle.” Entrepreneurial selling, however, must use a sales model to generate a “sales model cycle” that stretches the sales cycle at both ends. The sales model cycle encompasses the process of defining target customers, plans to reach those customers, how the interaction with customers will take place, and assessment of the process and relationships.

Suggested Readings

Founders School || Entrepreneurial Selling || Entrepreneurial Sales Model || Impact Guide (PDF).

James, Geoffrey. 2 Sentences That Engage Customers. Inc. Magazine. June 3, 2013.

Dvir, Omer. ClairVoyance Inc. Chicago: IL: University of Chicago Booth School of Business, 2009. (PDF)

Blank, Steve and Bob Dorf. Startup Owners Manual: The Step-By-Step Guide for Building a Great Company. K&S Ranch, Inc., 2012. Chapters 9-10.

Try using the Business Model Canvas to build your overall business model, and, within it, your sales model.

8 Steps to Actually Get Good at Phone Calls.  Fast Company, June 28, 2013.

Questions for You

Can you articulate your sales model by answering these questions:

  1. Who is your target?
  2. How will you reach them?
  3. How will you delight them?
  4. How will you know if they are right for your business?
  5. Where do you excel in the entrepreneurial sales process?

Have you narrowed your target market? How many filters can you apply to further narrow your target? Have you tailored your web and verbal messaging to talk directly to that target?

How will you generate leads? What questions will you ask either verbally or on your site to qualify those potential customers?

How will you know when you should hire professional salespeople? Mr. Kauffman hired salesmen one at a time as he could afford them. What will your approach be?

One entrepreneur in the Founder Genius series talks about sales experts. In the context of the sales model cycle how is this role different from that of professional sales?

Questions for Your Team

How can you support the sales process?

How will you manage the relationship with these new customers?

How will you delight each customer?

What metrics will you use to figure out if these are the right customers for your business?

Tools and Exercises

Learn about Cold Calling (PDF)

Get Rejected (PDF)

Learn to Handle Objections (PDF)

Find a CRM and use it:  How do you track your opportunities? If you are like most people, you have contacts in a hodgepodge of places (Outlook, Mac Address Book, an Excel spreadsheet, post-it notes. If you are going to get serious about selling, you need to professionalize the way you track your opportunities. There are a plethora of CRM (Customer Relationship Management) systems available, and my advice is to just pick one and get going. All of these tools work well, but you have to USE them! Move all of your contacts from disparate places into one of these, and then use that as your sole window into your contact information, your pipeline and your to-do list.

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