The concept of founder sales is not a relatively new one. Founders, first and foremost, are salesmen. They are also the brand ambassadors of their products and are most likely the ones with the power and reach to make a massive impact on their sales. Selling potential investors on their products, employees on their dreams, the board on their ideas, and founders need to do their fair share of selling. Despite having such a massive impact, companies rarely use founder sales as a viable strategy for their business.
This is mostly because founders hire a quality sales team to do the sales job for them. However, that is not just enough. As we enter into this era of cutthroat competition, founders need to know sales by heart, and here are a few strategies to help them out.
Honing the elevator pitch
Widely popularized by Guy Kawasaki, the elevator pitch is a summary of your company’s proposition that should be able to explain what your company does, who it is for, and why they need it- all within the time span of an elevator ride (roughly 30 seconds to 2 minutes). This might seem daunting, but once you get the hang of it, it will start becoming second nature.
Some tips on nailing that perfect elevator pitch would be to keep it short, simple, and to the point. Do not try to cram everything about your company in those few seconds; just focus on the key selling points that will make the person want to know more. In his book, The Art of the Start, Kawasaki talks about the 10/20/30 rule, which states that a pitch should have ten slides, last no longer than 20 minutes, and use no font smaller than 30 points. This can act as a guideline to help you structure your pitch impactfully.
Researching your audience
To make your sales pitch more effective, you must know who your audience is and what they want to hear. Take time to understand their needs and wants and craft your message accordingly. Moreover, it is also important to be up to date with the latest trends in your industry. This will not only make you sound more credible but will also give you an edge over your competition.
Building a personal brand
In today’s digital age, personal branding has become more important than ever before. Potential customers are more likely to buy from someone they know and trust, and this is where personal branding comes in. By building a strong personal brand, you will be able to establish yourself as an expert in your field and gain the trust of your target audience. There are many ways to build a personal brand, but some of the most effective ones include writing blog posts, speaking at industry events, and being active on social media.
Once you have established a personal brand, you can then start mixing your brand with the company brand. A good example of this is when Elon Musk. People aren’t necessarily invested in Tesla. They are more invested in knowing what Elon Musk does next, and since Musk is operating Tesla, they follow.
Create a sales playbook
It doesn’t have to be perfect. The goal is to get started and make adjustments as you go along. Document the processes that work and do not well for you and your team so that you can either learn from them or replicate them in the future. This will not only help to improve your sales process but will also make it easier to train new employees. Some things to include in your sales playbook would be contact information for key decision-makers, scripts for common objections, and templates for proposals and presentations. A sales playbook can also be a valuable reference tool for your sales team. By having all the relevant information in one place, they can close deals more efficiently and effectively.
Keep doing outreach
It is important to keep the lines of communication open with your potential customers, even if they are not ready to buy from you. By staying in touch, you will be top of mind when they are finally ready to make a purchase. There are many ways to stay in touch, such as email, social media, and even events. The most important thing is to be consistent with your outreach and to provide value. This could be in the form of helpful tips, industry news, or even just a friendly reminder.
Build a consistent brand
A strong and consistent brand will make it easier to close deals as potential customers will positively associate with your company. It will also make it easier to scale your business as you will have a recognizable identity that people can trust. There are many aspects to branding, including your company name, logo, website, and even the way you answer the phone. It is important to be consistent with all these elements, so potential customers easily recognize your brand.
Founder sales are an important part of any business. A founder must know when and where to pitch their product to ensure they make the most of their time. Ultimately, founder sales can be the difference between a successful business and one that fails.
