Start-ups and small businesses tend to have short lifespans. Largely, this is due to a poor sales strategy. If you can’t sell your product efficiently, you won’t make it. Capital will run out, or you’ll end up scaling up in an effort to get more in your grasp, and then things will fall apart. Robb Misso, CEO of Dynamic Manufacturing Solutions, says that it’s in your best interest to make sure your sales strategy is as effective as possible, lest you lose everything you’ve worked for.
- Focus on What the Product Can Do for the Customer
Remove yourself from the equation. You may be the one who came up with the idea, you may have built everything yourself from the ground up, but you don’t matter, not in sales. While your brand as an entrepreneur may help sell the product, people won’t buy something unless it has value to them. They don’t buy memorabilia because their wallets are heavy. They buy it because those items have an emotional meaning attached to them.
So, what do you offer? What does your product do for the customer? Expecting them to buy it because it’s helpful isn’t enough. They must not only be shown that it is of incredible value but bust they must also be led to understand it. It doesn’t matter if you’re disrupting the market or if you’re selling a new item in a sea of similar things. You must show that your product has value, enough value to justify forking over their hard-earned cash for it.
- Understand That You’re Selling a Product
No entrepreneur can survive running a start-up without a greater purpose. What counts as a greater purpose varies from person to person – what doesn’t change is that there is meaning behind their actions. Unfortunately, while necessary, that higher purpose isn’t enough to drive a sale.
Just having a cause isn’t enough for a small business to make bank. You need to embrace salesmanship. Selling is something your company must do, and you’re not selling a cause. What you are selling is a product – and that’s OK. That’s what you signed up for when you founded the company.
- Design the Company for Sales from the Ground Up
Nothing in entrepreneurship can be done well without purpose. Luck may play a factor, but your intent and direction play a much more significant role in your success. The value of your offering is meaningless if the company isn’t built to sell it.
It is distressingly easy to build a company that’s not good at selling. A half-baked or non-existent marketing budget or team, for example, ensures that the product will never penetrate the market. Poor manufacturing deals can push the price point beyond a profitable place. Haphazard hiring policies will guarantee that your grand plans will fall apart. As you plan the future of the company, from its structure to its manufacturing process, you must always have the goal of selling in mind.
- Embrace the Consumer’s Human Side
Spend enough time in business and people will start looking like wallets. Instead of thinking about how your product will help them, you’re thinking of how to get to their cash. While generating revenue is your primary concern, it shouldn’t be the basis of your sales. Squeezing every last penny out of customers only works if there’s no competition – and competition is fierce no matter what industry you’re in.
Don’t focus on getting as much revenue as possible. That will alienate customers and can easily make you lose touch of both your personal goals and of the target market. Focus instead on them. Create a product that will help them, and they will buy it. Create something designed to trick them out of their money, and they’ll go elsewhere.
The good news is, selling a product is relatively simple, if you’re focused on the right things. The bad news is, it’s all too easy to get distracted by numbers and end up failing to sell. A start-up’s primary function is to generate revenue through sales. Remember how to do that, and you’ll succeed as an entrepreneur.
About Robb Misso:
Robb Misso founded Dynamic Manufacturing Solutions in order to go about manufacturing differently. For 25 years, he has worked tirelessly to create a positive work culture and empower skilled workers both inside and outside the office. Robb Misso is also the recipient of Austin’s “Recognize Good Award,” which honors community-minded individuals for local charity work.
Robb Misso Around the Web:
Our CEO & Founder, Robb Misso, was featured in the John Maxwell's "Behind the Curtain: CEO Spotlight" for his ability to raise the "culture" standard in #manufacturing