Start Your Own Business
Training Programme
An Ghlasaigh,
Doirí Beaga,
Leitir Ceanainn, Co Dun na nGall
Schedule
Four 1 Day Workshops
+ Follow Up Clinic for Business Plan Review
Module 1
Introduction - Start Your Own Business and Personal Assessment
Module 2
Ideas Generation and Researching the Market
Module 3
Marketing the Small Business
Module 4
Preparing a Business Plan
Module 5
Legal Issues for Start Ups and Managing People
Module 6
Sales
Module 7
Bookkeeping and Records Management
Module 8
Financial Management
Marketing Reminder – The Mix
Product
Place
Price
Promotion
Selling and the law
• Product specific e.g. alcohol, tobacco
• Distance Selling Regulations
Good Starting Point http://pages.ebay.ie/businesscentre/lawpolicies.html
• Data Protection Act
• Sale of Goods and Supply of Services Acts
• Consumer Safety Act
• Labelling Regulations
• Food Safety Act
• Consumer Protection Legislation
Your sales role as a business owner
Selling, selling selling!
If you don’t sell your product/service/solution
You’re gone!
Sales and the Sales Process
What has been your experience as a seller of products and services?
Sales and the Sales Process
business to business (B2B),
One to one basis selling components or ingredients to a manufacturer
business to consumer (B2C)
Traditional retail or on-line retail
consumer to consumer (C2C)
Individual people sell to other individuals through classified ads in
newspapers or other means of advertising.
C2C trade is rising thanks to websites such as eBay.
Sales and the Sales Process
Sales Funnel
• Sales is a numbers game:
– You have to look at what your monthly,
quarterly and annual sales targets are
– You need to look at what your average sale is
in revenue and margin
– You need to look at what your average sales
lead time is
– You need to look at your ratio of calls to
conversion are
– Then you put a figure on the number of
potential prospects that you have to start with
What’s a CRM?
Selling
What are the Blockers?
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Fear!
Lack of confidence
Lack of time
Lack of focus
Stepping out of your comfort zone
Lack of preparation
Perceptions - selling as a business skill
Prospecting
• Internal
Sources:
– Enquiries to
advertising
– Phone/mail
enquiries
– Internet enquiries
– Customer records
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Money
Authority
Need
• External Sources:
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Following leads
Referrals/introductions
Community contact
Other organisations
Networks
Newspaper
Directories
• Personal Contact:
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Business contacts
Social networks
Formal networks
Networking
Word of mouth
Personal observation
Cold canvassing
Trade shows
Conferences
Sales seminars
Contacting Prospects – Planning your Approach
Objective
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Make an
appointment
Create an
interest
Immediate
sale
How
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Telephone
Person to
person
E-mail
Letter
Visit
What to
say
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Set an
agenda
Opening
statement
Sales pitch
Qualifying
questions
Answers to
objections
Reponses to
questions
Build
confidence
& rapport
Resources
required
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Business
cards
Customer
testimonials
Brochures
Portfolios
Diary
Writing
materials
Next
steps
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Obtain an
appointment
Send
information
Follow up
Sales and the Sales Process
Structure of
a sales
engagement
Opening the sale
Body of the sale
Closing the sale
The diagnostic process
Sales and the Sales Process
Who
What
Where
When
How
Why
Diagnose the problem that you can solve or prevent happening again at the
right price and at the right time, then you’ve got a sale!
Sales and the Sales Process
Once the problem is diagnosed….
The opportunity exists to SELL the fix!
The body of a sale
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Provide information on the business
Provide information on the product/service
Relate to the buyer’s needs/wants
Highlight features and sell the benefits
Emphasise unique selling points or propositions (USPs)
Gain customer confidence in a product or service
Answer questions and provide clarification
Deal with customer objections – be prepared!
Sell the benefits – not the features!
Sell the benefits – not the features!
Features
Advantage
Benefit
1 Gb Memory
Rechargeable
PC Compatible
Portable
Pocket friendly
Can store up to 5,000
tunes
Focus
of
sales
pitch
Buying signals
• Requesting a sample
• Requesting names of other customers
• Commenting positively
• Indicating problems with previous vendors
• Asking specific questions re: price, features,
availability, options
• Negotiating
Sales and the Sales Process
With What Can I Bargain?
Price
Model / Colour
Service
Discount
Terms
Delivery
Conditions
Continuity Etc
Negotiation skills are not the same as splitting the difference
Sales and the Sales Process
What will be your sales platforms?
• Investment in marketing tools – social media, business cards, brochure,
point of sale, signage
• Attendance at Networking/Trade events
• Membership of Trade Associations
– Sales/ Marketing/ Engineering/ Digital/ Accountancy/ Procurement/
Energy
• Chambers of Commerce/Small Firms Association/ISME
• Attendances at industry conferences
• Attendance at Charity Events
• Website
Sales and the Sales Process
Traits of a good salesperson
Enthusiastic
Good
Product
Knowledge
Outgoing
Personality
Traits
Of a Good
Salesperson
Educated
Ambitious
Confident
Sales and the Sales Process
Listen!
Networking
Some leads - Where to Start Networking
– Your industry/ sector groups
– Professional groups
– Ethnic groups and Associations
– Trade shows
– County LEO events
– Chamber of Commerce events
– Small Firms Association events
Your
Network
Networking
‘But I don’t know anyone?’
FAMILY
SPORTS
GYM
FRIENDS
CHURCH
NEIGHBOURS
MENTORS
YOURS / OTHERS
YOUR
CONTACTS
SPEAKERS AT MEETINGS
CLASSMATES
COACHES
PROFESSIONAL BODY
DENTIST
CHAMBER
OF COMMERCE
ALUMNI
DOCTOR
DRY CLEANER
VET
‘Anyone you wrote a cheque to in the last year’
Networking
Practical Preparation for Events
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Have a goal – know why you are there
Dress to impress & feel your best
Research your audience
Be comfortable as you can with small talk
Listen and question
Prepare an elevator pitch
Be prepared to ask for what you want!!
Negotiating skills
• Find out customer needs/wants
• Provide a range of options/scenarios
for the customer
• Allow for ‘room’ in the deal
• Accept that the negotiation process will be
uncomfortable
• Don’t come across as desperate for the sale
• Don’t show emotions or frustrations
• Don’t take rejection personally
• Adopt a ‘win-win’ approach
Negotiating skills
NEGOTIATING – SOME COMMON GAME PLAYS
MAKING DEALS – Based on the 110% Solution (1991), Mark H
McCormack describes three types of concessions that can happen in
negotiation:
The 50 percent solution is to concede, but get nothing in return.
The 75 percent solution is to concede, but only for something of
equal value.
The 110 percent solution is to concede, but get more in return.
Handling objections
Types of objections
• Money/budget
• Disbelief
• Satisfaction with an existing supplier
• Previous negative experience
• Misunderstanding
Handling objections
• Prepare responses in advance
• Listen to the objection
• Check you have understood the objection
• Answer the objection
• Advance the sale
Don’t take it personally – there may be a next time!
Handling objections
Objection Handling
• Welcome the Objection
• Listen and Pause – Silence is a great weapon – keep your nerve
• Restate the Objection – get the prospect to agree
• If the Objection is real, don’t waste your time – you’ll not win
them all!
Handling objections
• Prepare responses in advance
• Listen to the objection
• Check you have understood the
objection
• Answer the objection
• Advance the sale
Handling objections
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Disbelief/not convinced
Budget/money issues
Satisfaction with a competitive product
Previous negative experience
Fear of making the wrong decision
Misunderstanding
Colly Graham - http://youtu.be/pkhKGs4BGWw
Closing methods
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Assumptive close
Alternative choice close
Direct request close
Fear close
Small decision close
Minor-point close
Remember
to ask for
the order!
Then shut up!
Selling
• Always think of the next sale
• Aim for repeat business (80/20 rule)
• Performance, credibility and reputation all important!
• What would I do
differently next time?
Selling online
REMEMBER!
Transaction is governed
by the laws of the country
where the server is located
Selling online
Technical
Domain registration .ie, .com, Blacknight.ie
Broadband, Hosting, mail server services
This is an example
Not an endorsement
Choosing an e-commerce platform that suits your business
Wordpress, BigCommerce, PDPlumbing example
Getting Paid
Currencies, embedded systems – PayPal
eMerchant accounts, payment validation systems
Design and Functionality
Functional specification?
Brochure, dynamic or transactional – or hybrid
Selling online
Marketing the site – Social Media
Facebook and Twitter in a business context
LinkedIn Profiles, Search Engine Optimisation
Photography – image manipulation
Making your product look good
Photoshop, GIMP, Powerpoint
Lighting and background
Site Statistics – Analytics
Google Analytics, BigCommerce – traffic analysis
Site Management
Big responsibility, could be full time, Who? How?
Selling online – More factors to consider
Costs
Payment processing
Legal issues
Data protection
Security
Ordering
Factors
Marketing
Exchange rates
Tracking
Delivery
Returns
Selling online – Fulfillment and the small business
Five orders a week is easy
Five orders a day may be a challenge
ISSUES
Accommodation
Labour
Packaging
Documentation
Despatch – An Post, Fastway, DHL?
Tracking
TIME
The challenge of fulfilling orders is one of
those problems that all online companies
want to have, until they do, at which point it
can swallow margins, alienate customers and
even sink a business if not managed carefully.
Consider outsourcing orders to a third-party
logistics provider, known in the business as a
3PL, in exchange for a percentage of revenue.
Typically, this is about 3.5% of each retail sale
not including delivery costs.
Selling elsewhere
Selling elsewhere - issues to consider
• Culture, language and politics
• Legislation
• Currency and exchange rates
• Economic conditions
• Business practices
• Logistics
• Time zones
• After sales approach
• Legal issues e.g. distance selling legislation and e-commerce
regulations
Follow up
• Explain level of service at the time of the sale
• Make a courtesy call after the sale
• Give customer contact numbers etc
• Stay in touch
• Use a database
• Send customers information on offers etc
Customer Care
• After sales follow up calls
• Customer feedback forms
• Keep in regular contact with customers e.g.
– Telephone calls
– Promotional mail shots
– Newsletters/ e-zines
• User registration section on a website
• Loyalty schemes and incentives
• Special offers
• Customer complaints policy and confidentiality policy