How do you succeed when launching a New Business Venture ?
There are many elements that contribute in determining success or failure however one of the most important ones is Sales and the Sales Cycle.
In order to find you need to know what to look for and where to focus.
The process of identifying new prospects turn them into new customers and the allocated time to manage it, is called B2B Sales Cycle.
The Sales cycle entails various steps and is key factor when launching a New Business as it is directly connected to the revenue and cash flow of your organization.
§ Cold prospect outreach : identify and develop opportunities that go beyond your comfort zone and immediate professional circle. This the appropriate course of action that will enable your company to create a solid network of customers & partners and a sustainable B2B Sales revenue stream.
§ Generate interest : in your offering and business by clearly and effectively communicate your Value Proposition . Value is a key element in new customer acquisition , understand what True and Perceived Value is and how it impacts your Brand in the eyes of your customer.
§ Handle their objections or address their concerns : make them feel comfortable with the services or products you offer and the brand you represent. Help them understand the significant commercial opportunity and clear tangible and intangible benefits of incorporating your brand to their supplier/partner portfolio.
§ Follow up with them : your Brand is not the only one in the market. Moreover clients have dozens of things to deal with daily therefore by being persistent and assertive you are maximizing your chances of receiving a positive reaction. The answer may not always be positive however remember that you should always look for one. Positive or not.
§ Close a new Sales deal : This part is the pinnacle of your efforts. This is the part where people and businesses , completely unknown perhaps to each other few months ago, become a B2B Sales Partnership or in other words two entities that have established trust between them and have decided to grow together. This is the part where you congratulate yourself for a job well done and for the effort you put in this painstaking but so exciting process.