Living Entrepreneurship Blog / Babson Entrepreneurs

How 2 Get from 0-$1M

Entrepreneurs at #How2Tuesday: How 2 Get from 0-$1M

Entrepreneurs at #How2Tuesday: How 2 Get from 0-$1M

The Blank Center hosted its first #How2Tuesday on March 1 with Emmanuelle Skala of Influitive. Naturally the room was packed as sales is an important topic for ventures of all sizes! Geared towards ventures that have already gone through feasibility and had a beta of their product/service, Emmanuelle shared helpful tips for entrepreneurs to think about. Here were some of the highlights that you can apply towards your own venture!:

  • Define a specific ideal customer and identify what their persona is. This is one of the first steps that all entrepreneurs need to spend time on. In order to narrow down what the ideal customer profile is, Emmanuelle suggested to talk to potential customers and validate assumptions. Having this information will help sales representatives get the customers you want later down the road.
  • A customer pitch is not the same as an investor pitch. In order to get sales, you as the entrepreneur needs to focus on the customer. It should be all about them – define the problem for them, validate, describe how you can solve that problem better than competitors, share the benefits, and have proof that it works.
  • Get your customers to be advocates. The first 10 customers for any venture are important. These customers are your advocates, the ones that can help refer, endorse, educate and engage new customers. They should be committed to your success. It is important to be close to your first 10 customers – it is not only about closing the sales, but it is about you being able to solve their problem.
  • Understand how you want to get leads. Inbound vs. outbound? There are pros/cons. Although many companies rely on both, as a new venture, it is important to focus on one. Choose where you are going to be putting your investment and time.
  • You are your first sales representative. Once you have repeatable success, hire a sales representative. That first sales rep needs to be a missionary. They have to committed to your cause.

See you on Tuesdays at 5pm in the Blank Center for our next #How2Tuesday!

What are #How2Tuesdays?:
Want to learn something really practical to get your startup moving in the right direction? #How2Tuesdays are short, workshop style sessions meant to bring you very specific, user friendly instruction on some of the most important things you need to know how to do for your venture. Every Tuesday at 5pm in the Blank Center!