Sales and traction by Michael Oikonomou

Sales and Traction

Michael OikonomouCo-founder - Ideas2life, AtYourService,

foody.com.cy

2016-02-18 Nicosia, Cyprus

Sales and Traction

Sales = HUSTLESales is not only a customer purchasing a product. It’s also a new partner you close. An obstacle you overcome by persuading someone.

2016-02-18 Nicosia, Cyprus

Important. Why?Revenue as cashflow. Proof of revenue model.Proof of market fit.Investors.

SALES VS STARTUP SALES

Well defined products Agile products

What matter is results Strategy, Market fit AND results

Salesman - employee Founding member

Emotional skillset

2016-02-18 Nicosia, Cyprus

How to survive the process…Expect: RejectionBe: ShamelessRely on: Limited Resources… Do: Follow-up!!! Again… Follow-up!!!Get: ResultsStick: on your values…

Enemy = PROCRASTINATION

How you start?

2016-02-18 Nicosia, Cyprus

Calls, Emails, SMS, Fax etc.Whatever works.

Call or Meet

If you are lucky, you will convert a small fraction of your prospects.You still follow-up with any active prospect.

Listen, Listen & ListenYour goal is to maintain a List of objections. Be a rock-star how you manage those objections.

Create a list of potential customers.B2B you can do it manually. B2C you can focus on a group.

Sales Funnel

retention

Conversion Rate = Customers / Prospects

Account Management approach

Customers

Sales Funnel

• Check also ‘Metrics for Pirates’ - AARRR, by Dave McLure

1. Acquisition 2. Activation 3. Retention 4. Referral 5. Revenue

http://500hats.typepad.com/500blogs/2007/06/internet-market.html

Product approach

Hints

Calls: •Use scripts•Identify fast the decision maker•CRM – update your notesmetrics: Calls to meetups, Calls to deals

Emails: •As short as possible•Automate•Follow-upmetrics: Open rate, click rate, reply rate, Goal(s) completion rate

Networking and meetups: •Business Cards•Introduce yourself•Ask for introductions•Ask questions, talk less, listen more•ALWAYS be ready to present yourself, Have Fun & Enjoy

Essentials

• CRM • Email Automation• Follow-up automation (or at least management)

massively, personalized, semi-personalized

• Tools:CRMs: close.io, agilecrm.com, espocrm.comAsana.com, Microsoft outlook, sidekick, mailjet, mandrillapp, http SMS, http calls

Resources:

• My personal blog https://medium.com/@mikeoiko/ Testing some Sales Management Platforms

• Stelli Efti, close.io founder, “You gotta be a hustler”https://www.youtube.com/watch?v=IfKMsdI9wJM

• Newsletter and Webinars http://close.io/free-sales-course/

• HBR, 8 Types of Salespeoplehttps://hbr.org/video/4715266385001/the-8-types-of-salespeople

• HBR, Why the Best Salespeople Get So Luckyhttps://hbr.org/2015/04/why-the-best-salespeople-get-so-lucky

Culture of Sales

• Set your “s.m.a.r.t.” goals. Focus on and make it happen.

• Focus on what is really important for your company.

The Post-YC Slump

Get in touchMichael Oikonomou

Co-founder – Ideas2life, AtYourService, foody.com.cy(+357) 22573533

michael@ideas2life.com.cyTwitter: @mikeoiko

Linkedin: https://cy.linkedin.com/in/michaeloikonomou

2016-02-18 Nicosia, Cyprus