Sales Theories to Help a Startup Increase Revenue

ba-blog-5

Launching a startup can be a truly exhilarating experience. Startup entrepreneurs find themselves in the incredible position of being in charge of guiding their own destiny. Millions of people would love that chance. Few do what is necessary to create a business from the ground up and, hopefully, reap the rewards of its profits.

Smart entrepreneurs do not approach startup ventures with overly optimistic expectations. They know the venture must generate a decent amount of revenue or else the endeavor won't succeed. Strong sales figures absolutely contribute to boosted profits. Following a few established strategies for upping sales could keep a startup on the path to success.

Don't do Pigeonhole Selling

Entrepreneurs know products and services must sell in order for cash to roll in. That is why they hire a strong sales force. Not every entrepreneur possesses sales skill. So, sales work is transferred to others on staff or outsourced to professional services. Entrepreneurs really should not remove themselves from the process of selling. Startup owners must learn the basics of sales and be able to put those skills to work when appropriate. This way, the owner can step up to the proverbial plate when the opportunity to generate sales presents itself to him or her. Effective sales negotiation training can help with such a result.

Sales aren't exclusive to moving products and services, though. Selling a brand or selling yourself mean something, too. Sales frequently refer to the art of promotions. Startups positively must be consistently promoted since new businesses don't possess a track record. Nor are there enough customers for word of mouth referrals to help. The entire startup team should sell the company itself and get its name out there.

Shine the Spotlight on Value

The price of something does attract people. Value, however, may be more attractive than cost. Constantly pushing "deals and savings" isn't always beneficial. There's always some company presenting a good price somewhere. With this in mind, a startup owner may wish to focus heavily on promoting value instead of price. No matter what the prices on two goods might be, a great many customers may opt for the one with the better value.

A product or service of value does things for people. Their lives can be made easier. They might find tasks easier to perform. Yes, value takes many forms. Stressing the specific value a startup delivers plays to those who really do prioritize value when making a purchasing decision.

Approach Innovation with the Customer in Mind

Innovation, like value, comes in many forms. Marketing campaigns, the rollout of a new product, even the redesign of a business' website benefit from innovation. Innovation does need to be targeted in order to attain any measure of success. Entrepreneurs who come up with innovative concepts that appeal solely to themselves may win points for creativity. They might not, however, connect with their customers.

Innovation must be customer-centric or else the unique concept won't be effective from a sales generation perspective. If an innovative marketing plan doesn't move customers to buy, the plan ends up a failure. A creative failure remains a failure.

Think About Selling from Day One

Entrepreneurs focus heavily on creating the best product or service, which is a good thing to do. Where entrepreneurs make a mistake is they start thinking about the sales process at a later point than they should. A lot of time and ground is lost this way. While planning the specifics of a sales strategy might not be possible too early in the startup process, planning a broad overview of a sales strategy makes sense. The overview can then be sharpened and revised over time so it reaches the perfect form when the startup launches.

The Invoice Redirection Scam
Online Learning Changes the Face of Education

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Monday, 22 October 2018
If you'd like to register, please fill in the username, password and name fields.

Member Login

Business Insights & Tips

Leaderboard

1
Michael Lane
758 Points
2
Ron Immink
731 Points
3
Fionan Murray
680 Points
4
Jill Holtz
639 Points
5
ContentLive
260 Points
View Leaderboard