Founding Sales

1. Embrace the sales mindset: Shift from scarcity to abundance

Embrace plenty, not scarcity—and, hence, hoarding—and embrace a mindset of plenty.

Abundance mindset. Shifting from a scarcity mindset to an abundance mindset is crucial for success in sales. This mental shift allows you to:

• Focus on high-quality opportunities
• Move on quickly from unqualified prospects
• Maintain a positive attitude in the face of rejection

Activity orientation. Embrace a high-activity approach to sales:

• Prioritize quantity of interactions
• Recognize that more activity leads to more opportunities
• Develop resilience through increased exposure to various scenarios

Direct communication. Adopt a straightforward communication style:

• Get to the point quickly in conversations
• Ask direct questions to qualify prospects
• Be comfortable discussing business and money matters

2. Build a compelling sales narrative to articulate your solution's value

If you have indeed qualified an account as a good fit, then the mindset should look something like this—"This is going to happen. It makes sense for you. This solution is the future, and it will make you more successful now and going forward."

Problem-solution framework. Structure your sales narrative around:

• Clearly defining the problem your solution addresses
• Explaining why existing solutions fall short
• Articulating how your solution uniquely solves the problem

Value proposition. Craft a compelling value proposition that:

• Quantifies the benefits of your solution
• Addresses both tangible and intangible value
• Aligns with your prospect's specific pain points

Proof points. Support your narrative with:

• Customer success stories
• Industry statistics and trends
• Third-party validation (e.g., analyst reports, awards)

3. Create impactful sales materials: Slides, emails, and demos

While your narrative actually exists separate from whatever medium you end up collateralizing it in, whether slides, video, messaging, and so on. Whatever collateral you use, though, you need to be able to tell a coherent story.

Slide deck essentials. Create a compelling slide deck that:

• Tells a coherent story aligned with your sales narrative
• Uses visuals to enhance understanding
• Is easily customizable for different prospects

Email templates. Develop a set of email templates for:

• Initial outreach
• Follow-ups
• Objection handling
• Appointment setting

Demo script. Craft a demo script that:

• Highlights key features and benefits
• Aligns with prospect pain points
• Allows for customization based on prospect needs

4. Master the art of prospecting: Identify and qualify ideal customers

Targeting based on relationship rather than need is ineffective and a waste of time.

Ideal Customer Profile (ICP). Define your ICP based on:

• Industry and company size
• Specific pain points your solution addresses
• Budget and decision-making authority

Prospecting tools. Utilize various tools to find potential customers:

• LinkedIn Sales Navigator
• Industry databases
• Company websites and job boards

Qualification criteria. Develop a set of qualification criteria:

• BANT (Budget, Authority, Need, Timeline)
• Specific use cases that align with your solution
• Potential for long-term partnership

5. Perfect your outreach: Set appointments through strategic communication

Email is your friend. It is an extremely powerful means of directed outreach toward prospects, when done correctly.

Multi-channel approach. Utilize a combination of:

• Email outreach
• Phone calls
• Social media engagement

Personalization. Tailor your outreach by:

• Referencing specific company information
• Addressing prospect pain points
• Demonstrating knowledge of their industry

Persistence and cadence. Develop a strategic outreach cadence:

• Follow up multiple times
• Vary your messaging and approach
• Use automation tools to maintain consistency

6. Deliver powerful pitches: Present, demo, and handle objections effectively

Pitching is about persuading the prospect that she needs to deal with this now, rather than later. That the opportunity cost of holding off is too high to bear.

Presentation structure. Organize your pitch:

• Start with discovery questions
• Present your solution
• Demonstrate key features
• Address objections
• Close with next steps

Customization. Tailor your pitch to each prospect:

• Use specific examples relevant to their industry
• Address their unique pain points
• Demonstrate ROI based on their situation

Objection handling. Prepare for common objections:

• Price concerns
• Competitor comparisons
• Implementation challenges
• Timing issues

7. Close deals and manage your pipeline for sustainable growth

While hearing the prospect say yes is definitely super exciting, that doesn't mean your work here is done. You have to run all the way until the money's in the bank, and then run to make sure that the new customer is up and running and getting value out of your solution.

Closing techniques. Master various closing approaches:

• Assumptive close
• Summary close
• Urgency close

Contract and negotiation. Prepare for the final stages:

• Have a clear contract template ready
• Understand your negotiation boundaries
• Be prepared to discuss payment terms

Pipeline management. Maintain a healthy sales pipeline:

• Regularly review and update opportunity stages
• Prioritize high-value, high-probability deals
• Identify and address stalled opportunities

8. Prioritize customer success to drive renewals and expansion

In a SaaS world, if they don't get value, they won't renew. But that's not the worst of it. Even before renewal comes up, they certainly won't be buying more seats or units of your solution.

Onboarding process. Develop a robust onboarding process:

• Clear implementation steps
• Training for key users
• Regular check-ins during the initial period

Success metrics. Define and track customer success metrics:

• Usage statistics
• ROI calculations
• Customer satisfaction scores

Expansion opportunities. Identify and pursue expansion opportunities:

• Additional users or modules
• Cross-sell complementary products
• Upsell to higher-tier offerings

9. Scale your sales organization strategically to avoid common pitfalls

Premature scaling involves adding sales staff (or adding many more sales staff) before you have proven that the sales motion actually works.

Scaling indicators. Recognize when it's time to scale:

• Consistent win rates (15-30%)
• Predictable sales cycles
• Repeatable sales process

Role specialization. Implement role specialization gradually:

• Start with SDRs to support founder-led sales
• Add dedicated AEs as volume increases
• Introduce customer success roles to manage post-sale

Sales efficiency. Monitor key efficiency metrics:

• Cost of sales (aim for 20-30% of revenue)
• Sales cycle length
• Average deal size

Last updated: July 30, 2024