IRH411

Entrepreneurial Development Studies Vii9/28/2014Covenant UniversityDr. Adegbuyi, O. A.Technology Sales & Sales Management9/28/2014

Learning Objectives:What is Entrepreneurship?Meaning of SalesRetail Selling ProcessUnderstanding Different Personality Types.Case study of tomatoes seller.Class AssignmentConclusion9/28/2014Entrepreneurship is the art of finding profitable solutions to problems9/28/2014Brian Tracy(The author of Psychology of Selling)Sales ConceptOperatingunder thesalesconcept, abusinesswouldproducegoods that it anticipated aprofitablereturnfrom and then attempt to persuadeconsumerstopurchasethem byusingadvertisingand other salestechniques. 9/28/2014

If you have something to sell you will have something to spend.

All MONEY IS MADE BY SOMEBODY SELLING SOMETHING TO SOMEBODY ELSE

Every famous person in the world today has something to SELL Pastors (The Word), Footballers (Skill), Authors (Books), Musicians (Songs), Politicians (Ideologies); etc

The great businesses of today have learned how to effectively market by communicating directly with prospects and customers. A few notable examples include:Amazon.coM, Agora Publishing, Boardroom Reports, Dell Computers, Swatch watches, Nightingale-Conant (taped courses), Prentice Hall (publishing), Barnes and Noble (book retailing), Mercedes Benz (automobiles), Nestle, Nokia, America Online, Wall Street Journal ETC.

Nothing Happens until a sale is made!This underlines the critical importance of sales to the entrepreneur.Almost every business plan assumes a certain amount of sales, but that assumption is the tipping point.Without sales, the entire business model is an exercise in frustrationThe entrepreneur must not only understand the sales process, but also embrace the fact that the ability to sell is the single most critical success factor of any new enterprise.The Retail Selling Process We shall adopt the following steps in our retail selling process.Approaching the customerCollecting informationPresentation and demonstrating merchandiseHandling reservationsMaking the sales Building relationship and future sales.The approach to a customer is a method for getting the customers attention and building interest in the merchandise quickly.Approaching the Customer

After the initial contact has been made, the next step in the retail sales process is to collect some information from the customer.Collecting InformationBasic information a salesperson (entrepreneur) should know about a customer include:The type of service or merchandise the customer is looking forThe price range the customer is considering The customers life styleThe customers preferences for risk and returns in investments.

The third step in the retail sales process is presenting and demonstrating the merchandise or service and communicating its benefits to the customer.Presenting and Demonstrating MerchandiseCustomers buy benefits, not features

Often customers have reservations about making a purchase. Reservations or objections are concerns raised by the customer. Salespeople must anticipate potential reservations and know how to respond to them. Handling Reservations

The fifth step in the sales process involves getting the customer to make a purchase decision. Sales presentations are made to encourage purchase decisions. Making the SaleThe customer who says This table is scratched; Do you have another one? is giving the salesperson a chance to make a sale.

The relationship between a customer and a salesperson shouldnt end when a sale is made. Its becoming increasingly important for salespeople to build long term relationships with customers so they will return to the store and seek out the salesperson the next time theyre buying.Building Relationships and Future Sales

Understanding Different Personality Types.There are six basic personality profiles that you will run into every day in selling.The Apathetic Buyer Self-Actualizing Buyer The Analytical BuyerThe Relater Buyer The Driver Buyer The Socializer Buyer The first personality type you will meet in selling is the apathetic prospect.This type of buyer represents about 5% of the total. He is the kind of person who is never going to buy anything, no matter how good it is. He is usually pessimistic, cynical, and often depressed or uninterested.The Apathetic Buyer

The self-actualizing buyer is exactly the opposite of the apathetic buyer.Represents about 5 percent of the customer market.Knows exactly what he wants, exactly the features and benefits he is seeking, and exactly what price he is willing to pay for itHe is positive, pleasant, and a pleasure to deal withSelf-Actualizing Buyer

You will find these people in any field that requires detail orientation, to be successful.They will be accountants, engineers, bankers, financiers, loan officers, and computer specialists. The primary focus of their questions to you will be the exact numbers, details, and specifications of what you sell.The Analytical Buyer

Another type of customer you will deal with is the relationship-oriented person.Represents approximately 25% of the customer market, depending on what you sell. They tend to be self-contained and not particularly exuberant or expressive. You have to slow down and relax to get along well with them.The Relater Buyer

The fifth type of buyer is more tasks oriented than any other kind.He is direct, impatient, and wants to get straight to the point. He is businesslike and practical. His greatest concern is getting results.He is impatient and outgoingThe Driver Buyer

The sixth, type of buyer is the socializer type buyer.This person is outgoing and extroverted.He likes working with and through people to get results. He is often called the integrated buyer in that he operates with a nice balance between people orientation and task orientation.The Socializer Buyer

In a larger sense, the entrepreneur has to Sell his vision to prospective employees; venture investors; and strategic partners.However, entrepreneur must not only understand the sales process, but also embrace the fact that the ability to sell is single most critical success factor of any new enterprise.Practical example of How A Tomato Seller MULTIPLIEDher business using THE SMS sales StrategySample SMS by a tomato seller can send:Gud afternoon my customer, long time we saw U at the market. Hope all is well. Pls come on Tuesday, we would have strong,cheap tomato on Tuesday.10qTrue! This testimonial/example is just a test to show you how the SMS sales Strategy Multiplication of Profitsstrategy can be applied to any business for cool profits if you know how.Ponder on the following questions:Who do you think would come to the mind of a customer when he wants to do the naming ceremony of his new baby and needs tomato for the jollof rice?If one of her customers wants to do a party with tomato, who do you think would come to the mind?If someone asks her customers where can I buy very good tomato? Who comes to her mind? Yes, you guessed right!Discover how to market your product or service regardless of your field of Business.Class Assignment:DOWNLOAD A FREE 7-DAY E-COURSEwww.smartpassiveincomreport.com

Nothing happensnothing mattersuntil you get people to buy your products. You can have a great product and the perfect market, but if no one buys, youll be out of business fast. To avoid failure, your sales message must communicate a persuasive reason and enough benefits to the buyer to persuade them to buy.The more you tell, the more you'll sell. -Ted Nicholas 9/28/2014