8 reasons why entrepreneurs should focus on sales
Sales are the heart of any business. Most often people have this assumption that sales skills are only needed for salespeople when you start building a company you have the need to constantly sell your product. Focusing and improving the sales for a company is very important especially the first 6 months to 1 year, this is mainly because the transformation takes time and multiple interventions are needed to make that absolute sales transformation for a company.
Sales not only gives you long-term sustainability to the business also a better product gets delivered to your customers who can actually benefit from your product/service.
Here are some of the few reasons why sales are very important for entrepreneurs
1. Trusting Investors: Traction is one major factor in a business for the investor, not always it is the money but the trust people have developed on your business over time and their trust towards your product/service and how much they have enjoyed and liked your product/service.
2. Creating better Customer-Centric Products: Focusing on what the customers want to buy and not what you can sell in a business is very predominant. The product/ service you provide should focus on how it can benefit the customers rather than what it can provide. Keeping sales in mind during the initial development stages can help you deliver a better product/service.
3. Handling Rejection: Handling rejection is just part of the job. Mainly because sales is a process where prospecting, qualifying and identifying the needs of the customers and some people don’t get the idea behind your startup. Most Businesses never prepare for objection and close sales. Especially for B2B, where the stakeholders are many and the sales cycle is long, handling rejection is much needed. It’s all about mindset and skillset combined.
4. A Market win: Always remember to keep your customers closer to your heart, your competition closer to you and you will be the top of your market and the revenue pours in. Learn what motivates people to keep your customers closer to your heart and to your life. Exploring and knowing a more about your competition not only motives you but also helps you to view your market from the eagle’s eye.
5. Selling Makes You a Better Leader: At the point when you progress from working for others to building your own business, there will be few difficulties that you will have to handle. One of these is figuring out how to be an effective leader. Influencing people is very important to be a leader. Motivating your team into buying your vision is almost very essential as explaining them about your vision and why they should follow your idea. Otherwise, you will only have employees obeying whatever you say. Sales is the art of influencing and motivating people and moving them forward to action.
6. Sales make your company valuable: Bringing a product/service to the market and finding the right customers who are willing to pay for it demonstrates your company’s value and your company will become a real business instead of just another startup.
7. The Buying Strategy – People buy from people and companies they like: Pitching your product/service is as important as developing your product/service. For any business, it is 20% is sales and 80% is action-based learning. People buy from people/companies they like. Failing to invest in establishing a rapport with customers is failing to understand your customers. Any business should be able to convince their potential customers through social media and customer interaction, that your culture matches theirs
8. Thorough Tracking of your sales metrics: Once you have your source of lead generations, sales process and turned them into sales you have to track your results to understand and what parts of your sales need improvements.
i. Better insight on your product:
An organization’s capacity to drive above-market development relies on the depth of customer’s insights and how it translates those insights into effective action. Tracking your sales metrics using advanced analytics will help your business.
ii. Targeting Segments:
Right from creating a list of target segments, narrowing down to the most promising target segments to Selecting the target customer that offer better potential is very important for a business
iii. Forecasting your sales:
Forecasting sales is about setting goals for your company. Don’t forget to focus on what you hope to achieve? How many customers will you be having? How much will each customer spend? If you are aiming to improve sales you must start focusing on marketing. Don’t be broad or generic and not to forget that forecasting on each every individual product or service isn’t always a great idea. Make sure you have categorized 3-10 categories for forecasting your business sales.