startup sales 101
TRANSCRIPT
STARTUP SALES 101a general framework forearly stage sales
Miles J. Varghese
CREDIBILITY
● From “finance guy”
● To “startup sales guy”
● Proud LiveNinja Alum
● Current: Cetus Labs
“SALES IS AN
_______ art.”X
“SALES IS A
____________________ process.”(That’s tightly tied to Product + Marketing)
YOUR FIRST SALES HIRE:
P.M.F
.
PRODUCT MARKET FIT
MARC ANDREESSENa16z, Netscape
MIKE MAPLES, JR.Floodgate Capital
ANDY RACHLEFFBenchmark Cap,
Wealthfront
HOW DO YOU GET TO P.M.F ?● Prove your product’s Hypothesis
○ Great Idea ≠ Great Product
● Build, Deploy, Sell. (Iterate)
CUSTOMER DEVELOPMENT
SO WHO DO YOU HIRE?● 2009 CEB Inc study● 6,000+ interviews.● 5 Different Profiles:
○ The Relationship Builder○ The Challenger○ The Problem Solver○ The Lone Wolf○ The Hard Worker
● Which of these would you hire?
THE CHALLENGER :💪🏾
53% of customer loyalty is driven by the sales experience - not brand, price, or even the product.
SO HOW DO YOU HIRE?“Employees, managers, and employees need a new relationship framework where they make promises to each other that they can keep.”
-REID HOFFMAN LinkedIn
THE HIRING FRAMEWORK● Lifetime Employment = 💀● Employment is an Alliance (NOT a “family”)● Alliance Agreement
○ “Tours of Duty” ● Measure for intellectual curiosity● Sales role play
○ Ex. live sales cold call
MODERN CANDIDATE PROFILE:
“ABL”
“ALWAYS BE LEARNING”
1. TechCrunch2. TechMeme3. ReCode4. Marketplace Tech
(APM)5. WSJ Tech News
1. Bowery Capital2. SaaStr3. SalesHacker4. First Round Ca
pital5. Founding Sales
1. Lean Startup 2. Predictable Rev
enue
3. Hacking Sales4. Fanatical Prosp
ecting
1. SalesStack (Slack)
2. #MiaTech (Slack)
3. Closing Call4. Rainmaker
(Conf)
SO HOW DO YOU SELL?
● strategy● process ● methodology
SALES STRATEGY:strategy = revenue generation model
= inbound vs. outbound vs. hybrid
inbound = content to capture prospects = to produce qualified leads (MQLs)
outbound = proactive sales activity= to produce qualified leads
(SQLs)hybrid = Account Based Marketing (ABM)
SALES PROCESS
SALES METHODOLOGY:
methodology = the “approach” you use= challenger selling= solution selling= consultative selling= SPIN selling= trigger-based selling= social selling= agile selling= ….hit your KPI’s + close.
EXAMPLE:
1. AUTHORITY2. NEED3. URGENCY4. MONEY
1. Money2. Economic Buyer3. Decision Process4. Decision Criteria5. Identifying Pain6. Champion7. Competition
MUST READ:
SALES STACK:sales stack = the tools, vendors, and processes that support sales activities
= at scale= internal (SLA) = prospecting = to CRM= to signature
EXAMPLE:
CUSTOMER SUCCESS:
● Account Management● Quota carrying● “Farming”