Both Sides of the Table

OCTOBER 4, 2009

Most start-up entrepreneurs have little or no sales experience. But through nearly a decade of startups I learned that sales comes down to three essential elements: 1. The real test of sales and the topic of my post is “why buy now.” It’s what kills most sales cycles including raising venture capital. I know I didn’t.

Sales 319

Sales Startup Platform Tips 319

Berkonomics

FEBRUARY 3, 2022

Of course, even though that is your contract with the investors, way over half of those implied contracts never work out that way. Of course, you will find yourself in opposition to your investors and some of most of your board members if you do this after taking outside investment. What if you later decide to just keep control?

Equity 156

Equity Course Sales Invest 156

Berkonomics

JUNE 4, 2020

Most college econ courses teach marginal economics. That’s impressive sales leverage. Email readers, continue here…] In an Internet-based business, power comes not just from high gross margins, but also from an increase in the percent of conversions. Let’s use breakeven as our test. Back to the incremental unit.

.Net 156

.Net Sales Tool Email 156

Berkonomics

SEPTEMBER 28, 2023

If the product or service is especially complex or expensive, send someone from sales or marketing or even R&D to the customer location at the moment of first use. Email readers, continue here…] Of course, most of us have limited resources for such overwhelming support of a new offering.

Resource 156

Resource Custom Customer Product 156

Startup Professionals Musings

SEPTEMBER 9, 2012

I’m sure that every one of us who has been out in the business world for a few years can look back with perfect hindsight and name a few college courses that we should have taken. But on the business side, here is my list of useful courses that we wish existed, but as far as I know, still aren’t generally available: Basic Office Politics.

Course 97

Course Writing Slides Email 97

Berkonomics

OCTOBER 5, 2023

Since this number is budgeted and pre-authorized, managers tend to focus upon other things such as sales, marketing and product development issues. Time and fixed overhead: [Email readers, continue here…] That relationship between fixed overhead and production time is as critical as any other factor in the success of a young company.

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Venture Capital Product Marketing Resource 296

Both Sides of the Table

MARCH 29, 2014

And being persistent I believe is the most important attribute for success in an entrepreneur (assuming of course that you have all the other requisite skills). Of course at one end of the bucket are entrepreneurs who are persistent but just aren’t polite. You need to know how to write good & action oriented emails.

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Venture Capital Email Startup Conference 389

Berkonomics

JULY 23, 2020

Sometimes the end game or sale of the company is not a happy event. Especially when outside investors, venture capitalists, or angels, have put in substantial money and the sales price is less than the value of their investment. There are some questions a distressed sale brings to mind. How about outside investors?

Company 156

Company Companies Sales Venture Capital 156

Berkonomics

SEPTEMBER 23, 2021

Recently a CEO friend told me her story of a dinner including her director of business development and an executive of a major company, a candidate for a large sale. I would have been thinking about the sales relationship and the sale, and would probably have let the guy drive home, acknowledging his discomfort, and ending the dinner early.

Sales 156

Sales Conference Startup Course 156

Both Sides of the Table

MARCH 31, 2012

Here is a sample of the reading list for the course that gives you a flavor for just how modern and practical this course is. I got an email recently from my friend & fellow VC, Jeff Bussgang from Flybridge Capital Partners in Boston. My list of excuses includes: product, pricing, competition and lack of sales support.

Startup 319

Startup Sales Course Competition 319

Berkonomics

JULY 26, 2018

These are so succinct, so well defined, so precise that everyone in sales and everyone involved in marketing must be able to answer these three questions without pause, and convincingly. It would pay you to work over this set of questions in a special session with sales, marketing and senior management in the room at once.

Sales 226

Sales Custom Customer Pricing 226

Berkonomics

JUNE 27, 2019

If the presenting CEO is honest in the analysis of actual time spent each week, it is often revealing to all to see how many hours are spent turning inward toward meetings, operational management, or responding to emails or texts sent by others. Of course, they do. Of course, it is. But, do your customer know that they want?

Customer 120

Customer Custom Course Email 120

Berkonomics

OCTOBER 27, 2022

Of course, this comment made me think of the many times I had been guilty of this more than occasional heads-down office work over the years of management and assume that most of you who have supervised others have fallen into the same trap. Had I been guilty? How do you frame menial desk jobs as “customer support?”.

Resource 156

Resource Custom Customer Coach 156

Berkonomics

SEPTEMBER 27, 2018

Email readers, continue here…] I did forget to tell you that on that day looking into the company’s books I discovered that neither the company nor its founder had filed Federal income tax returns during the three years in business, didn’t I? Of course, we took all of these. The surprise I could not ignore.

Sales 120

Sales Web Design Web Design 120

Berkonomics

NOVEMBER 24, 2022

So, when do we know which course to take? Well, even though that acquisition is still playing itself out on the field of battle, it appears quite clear that the new parent has directed its new subsidiary to abandon the lower end of the market and focus upon the larger sales, corporate customers, and major brands. Refuse to engage?

Resource 156

Resource Competition Examples Custom 156

Both Sides of the Table

JANUARY 14, 2014

If you follow the tech media you would be subject to a lot of narrative biases that are completely off base – and this includes the value of email and phone calls. All the data actually suggests with the growth of mobile, inbound sales calls will double from 30 billion to 60 billion in 3 years (source: Kelsey). THE FULL STORY.

Email 339

Email SaaS Venture Capital Google 339

Berkonomics

MARCH 18, 2021

Well, of course it is. Resources such as money, experience, statistics about your target, experienced marketing and sales talent, and especially a compelling need and attractive product are all important to the ultimate success of an enterprise. So, let’s dig a bit deeper. But the risks don’t stop there.

Entrepreneur 156

Entrepreneur Resource Statistics Custom 156

Berkonomics

FEBRUARY 23, 2017

Investors call this discussion “exit planning” and of course they include themselves in the. Of course, you’ll find another exciting venture and start again. Email readers, continue here…] But this question begs for a positive answer. Crossing you personal finish line… discussion.

Course 256

Course Email Sales Invest 256

Tech Zulu Event

MARCH 20, 2015

One of the hardest parts of email marketing is building a subscriber base and getting them to open your emails but that’s only half the battle. The goal of email marketing is opening a conversation and turning that conversation into a relationship. The remaining 20% should include direct sales. Build Trust.

Email 40

Email Marketing Custom Customer 40

Startup Professionals Musings

MAY 24, 2021

That means that people addicted to text messages, twitter, and email may be sending less than half the message, and receivers often misinterpret even that half. As well, email volume just continues to increase. This, of course, comes into play to signal openness or goodwill at the beginning of an interaction, and agreement at the end.

Email 164

Email Layoffs Tool Study 164

Both Sides of the Table

MAY 13, 2018

The most important advice I could give you before you set out in fund raising mode is to understand that fund-raising a sales & marketing process and needs to be managed. Somehow many first-time founders equate “sales” with something that is beneath them. In sales there are also three rules: Qualify, qualify, qualify.

Venture Capital 332

Venture Capital Funding Startup Sales 332

Berkonomics

AUGUST 3, 2017

Your first customers for any product or service form your reference base, the important group of allies that your marketing and sales people rely upon when attempting to create buzz and make a mass market for a new product. Of course most of us have limited resources for such overwhelming support of a new offering.

Customer 243

Customer Custom Resource Sales 243

Tech.Co

NOVEMBER 28, 2022

Please fill in your email. TikTok’s sister company Douyin, for instance, which is also owned by ByteDance and mainly operates in China, has seen a 320% rise in sales between April 2021 and April 2022. Get the latest tech news, straight to your inbox. Don't miss out on the top business tech news with Tech.co's weekly highlights reel.

Social Media 151

Social Media Startup Commerce News 151

Startup Professionals Musings

MAY 7, 2010

I’m sure that every one of us who has been out in the business world for a few years can look back with perfect hindsight and name a few college courses that we should have taken. But on the business side, here is my list of useful courses that we wish existed, but as far as I know, still aren’t generally available: Basic Office Politics.

Course 53

Course Writing Ideas Class 53

Both Sides of the Table

SEPTEMBER 20, 2014

It is the bane of every startups existence because it takes up so much time, it is so competitive to sign people and it feels like unproductive time because it’s not moving the ball forward on product, engineering, sales, marketing, biz dev, fund raising. It consumes time and energy and the payoff doesn’t come for a long time.

Press 341

Press Startup Email Sales 341

Berkonomics

MAY 17, 2018

Each new plateau in revenue growth, each time a month’s orders hit a record, each large order from the sales department, all of these and more give rise to opportunities to celebrate publicly. Email readers, continue here…] Many companies have a bell hung somewhere in or near the sales bull pen, rung each time a sale is consummated.

Customer 226

Customer Sales Custom Course 226

Berkonomics

APRIL 19, 2018

Of course, I’ll tell another harrowing story here. Email readers, continue here…] Early in the rapid growth phase of my computer software company, I hired an excellent, IBM-trained vice president of sales to further growth and begin our international expansion. Everyone but the sales VP was present as anticipated.

Training 226

Training Course Sales IBM 226

SoCal Tech Calendar

JUNE 14, 2016

The most obvious, is to drive sales. Of course, we have competitors. Before we came to market, there had not been the focus on having the right people at marketing events, that tracking people matters, and including those events as part of the sales funnel. We provide an event and experiential marketing platform.

Sales 100

Sales Santa Monica Startup Orange County 100

Both Sides of the Table

APRIL 12, 2017

As executives we’re all seemingly accessible at any moment to anybody via email, Twitter, Facebook, LinkedIn or Text. We’re expected to be at conferences, events, sales meetings and be publicly visible. It’s why sometimes I respond to emails in 5 minutes at other times I go dark for a week at a time.

Activity 297

Activity Blogging Email Startup 297

Berkonomics

DECEMBER 27, 2018

To some it is financial security, building a base of wealth created from the increased value of the enterprise at the end point of sale or at an IPO. Email readers, continue here…] The best advice to anyone considering this course of action is to measure one’s ability to take the risk. Vision, risk and capital, oh my!

Startup 120

Startup Entrepreneur Course Capital 120

Berkonomics

DECEMBER 27, 2018

To some it is financial security, building a base of wealth created from the increased value of the enterprise at the end point of sale or at an IPO. Email readers, continue here…] The best advice to anyone considering this course of action is to measure one’s ability to take the risk. Vision, risk and capital, oh my!

Startup 120

Startup Entrepreneur Course Email 120

Berkonomics

AUGUST 2, 2012

If the presenting CEO is honest in the analysis of actual time spent each week, it is often revealing to all to see how many hours are spent turning inward toward meetings, operational management, or responding to emails or texts sent by others. Of course they do. Of course it is. Is business built upon good relationships?

Customer 159

Customer Custom Course Email 159

Berkonomics

SEPTEMBER 19, 2019

Email readers, continue here…] Whatever the problem, the person or board to whom you report does not want to hear about it after it has become a threat to the enterprise. And of course, a promise not kept is an indication of a lack understanding of the problem or of care for the solution. Keep the information to yourself?

News 120

News Statistics Resource Sales 120

Berkonomics

AUGUST 2, 2018

There are exceptions, based upon cost of sales. Email readers, continue here…] WalMart is known for lowest prices, often for identical merchandise found in other stores for more. Your challenge: to find, position, and defend your niche. Think about your positioning. Here are a few examples to help you.

Pricing 226

Pricing Competition Examples Class 226

Berkonomics

JANUARY 4, 2018

And of course, most are willing to trade information to get information. Email readers, continue here…] All of this was immensely helpful in strategic planning and marketing, even though to this day I do not think those CEOs were aware of the value of the information so easily given.

Guide 243

Guide Conference Course Email 243

Startup Professionals Musings

MARCH 21, 2021

Of course there are people who are great at getting things done, but haven’t had an original idea in their life. More customers are lost to apathy after the sale than poor service or quality. A numbing 68% of all business lost in America is lost due to lack of follow-up after the sale. Professional relationships.

Activity 133

Activity Startup Ideas Technical Review 133

Berkonomics

OCTOBER 3, 2019

We know the answer of course. There will always be times when salespersons or associates provide you with projections for future sales that reflect their inherent optimism. Email readers, continue here…] Some of us who’ve had extensive experience in senior management have lived by a rule of the 50’s.

Sales 120

Sales Course Resource Email 120