Do you know why 99% of start-ups go out of business without even being noticed?
There are quite a number of reasons that can be brought to the table, but today l will be focusing on the one thing that is universal to all industries in the business realm.
That is Sales!
Now, leave alone start-ups.
You know of TOY “R” US the largest toys supplier in the world right?
Despite being decades on old with a reputable brand, what just happened a couple of days ago?
It went bankrupt and is out of business as we speak.Why?
They no longer sell to sustain the business.
It’s essential to become self-aware of what your strengths and weaknesses are.
Because it really helps us to know what we can do ourselves, and what to outsource!
But now, according to my research so far, after analyzing dozens on great business men and entrepreneurs, there is this one skill that is not only necessary to learn but compulsory.
Patrick Bet David and Gary Vaynerchuck, both run multi-million dollar firms though in different industries, that started from zero, said in an interview that if there’s one thing every aspiring entrepreneur must learn regardless of the industry is SALES!
Do you know how to sell what your product, service or opportunity?
Can you convince me to buy from you and not your competitor regardless of their market penetration?
Do you know how to sell your ideas?
Don’t get me wrong here. By selling your product or service, I don’t mean cold calling and forcing it down people’s throats with your mastered sales pitch.
I mean selling your vision, mission and values which basically creates a culture that is more of building your brand around your target audience.
It sad to see a person with this cool idea that they think is going to change the world yet they cannot even pitch it to a friend. Why?
Because we have not mastered this skill set!
Even worse where you think that you can outsource a sales person or company but as a startup remember your working on a shoe string budget!
Don’t you worry any more, today I’m going to nail it down to a simple 6 step formula that was introduced to me by Cesar Rodriguez, a multi-million net worth network marketing guru!
He is a high end paid consultant on sales and marketing for executives with major brands in the world.
He understands his craft really well but first, here is what he recommends.
“Invest in yourself extensively first, on human psychology, persuasion and influencing people and this will not only help you in business, but also boost your personal relations with people generally.”
One of Cesar’s best affirmations is that, “If you’re not where you want in business. It’s because you’re not doing something right or you’re not doing something enough.”
Let’s dive right straight in to the formula.
The formula is (R-T-I-P-S-A)
Warning! Note that every other step is this formula is essential and cannot be ignored or skipped.
We are fond of sales people who approach us directly and all they do is talk, talk and talk as if you had a banner on your forehead that you need their product or service.
Eh! It sucks right?
In most cases, they just pour all their information about their products and don’t care about you.
By building a rapport, your conversations should start just like any other mere conversation.
Make them comfortable and look for a common ground.
Sounds something like; Hey, the weather is pretty harsh today huh?
Anyone is open to this kind of question and boom! The conversation begins.
Or another very effective way of starting conversations is through a complement.
“You really dressed sharp man, what do you do?
Everybody loves complements but only if they are true and sound authentic, right?
So, after identifying a common ground, then build;
TRUST AND CREDIBILITY
This is the stage where you get to establish a solid foundation of your friendship.
Remember, business can never take place where trust doesn’t exist.
So, this step is vital since it’s the same step that will prove your credibility, if you’re worth their money and if they can do business especially with network marketers.
For credibility you have to prove that you’re an expert in your craft.
I emphasize spending sometime here until your fully satisfied that you’ve got a solid foundation then you can go ahead and gather;
In this case, it’s all about them.
Your work is to ask as many questions as possible so as to understand the real problem, desires, and their needs.
Warning! This should not sound like an interview.
Try as much as possible to keep it conversational.
This information will then help you identify the;
Is it money, health, mindset or just perception?
You see, with a weak foundation, you will not get as enough information as possible.
These steps are very dependent on each other so you better get good at them and master.
Knowing their problem now, it becomes very easy to offer now the solution that you have.
Remember that every business exists because they offer a;
Only at this stage are you eligible to introduce your proposal.
It’s only here the consumer feels comfortable and probably excited to know what you have in store.
But only after the first 4 steps are you entitled to pitch your idea or business products or service.
Explain everything they need to know first-hand then allow for some questions to flow since this means that they are interested.
At this step you literally smiling because you know you’ve pretty done a good job.
Moreover, after giving your sales pitch, it’s now time take;
For instance in network marketing, ask if they are willing to partner with you.
Get them to buy the product or your service by just asking and not demanding.
Just ask and if you’ve played your cards smart in the previous steps, you’ll definitely get a YES!
In fact Cesar calls it the Immediate YES Formula.
Trust me, it works and it’s working for my network marketing business too.
So, after going through these steps and you still get a NO!
Please analyze where you went wrong and repeat the process again until it becomes an obsession.
We have both agreed that the steps are dependent on each other right?
Great men once said that Ignorance on fire is better than knowledge on ice.
Kindly don’t take this for granted or just sit there and whine of how the steps are too many and tiresome.
Remember, you’re not just doing business, your also creating relationships that are mutual.
What I call playing the long-term game.
This will be your most trusted and recurring clients and consumers.
Now you know that learning to sell is the most important skill set of an entrepreneur.
Just so you know, this is not by any chance taught in school. You better get to work and start executing.
Check out other recent article why your degree certificate is not necessary in Entrepreneurship.
Again, this is totally across all industries. No sale; no cash flow hence no business.
It’s the same reason in the 90’s, for corporate jobs, you had to start as a sales person as you climb up the ladder since they realized that this skill is very essential in-depth
The good thing is that there are tons of books, audio, videos and articles out there that talk about sales.
Let me know what you think is the most important skill set for a young aspiring entrepreneur.