Sell More Faster

Chapter 4Getting to Repeatability

Figure 4.1 Getting to Repeatability

How Do You Know When You've Made a Sale?

By now you've identified your W3, which is to say you have a strong opinion (ideally backed up with data) on who your customer (ICP) is, what product you are selling (versus what product they are actually buying from you), and why they buy your product. With this framework, you've tested your theories in your customer development process by speaking with dozens (or more) of prospects, some of whom you've converted to customers. You've learned enough about your sales funnel that you've incorporated a CRM into your sales process, which has allowed you to start tracking and reporting on sales funnel metrics, and you've built out an early version of your sales model so that you can start tracking how the business is progressing. So what's next?

In this chapter, we look at the final piece needed before scaling your team so that you are prepared to hire and train the right type of salesperson for your company. More specifically, we will look at (a) value trading and pricing and (b) Negotiating 101, with the goal being an understanding of when you've made a sale (or not) (Figure 4.1).

To illustrate the challenges with knowing when you've made a sale versus when you think you've made one, I'm going to use an example of a company in my portfolio, Bamba Group.

The Difference ...