Selling Is The Most Important Job For Every Entrepreneur

Selling Is The Most Important Job For Every Entrepreneur

Let鈥檚 consider the example of an entrepreneurial inventor attempting to market his newest creation: a portable hydrostatic body fat test appliance. Design is complete, testing is finished and results exceeded initial assumptions, several working prototypes have been built, UL Approval is in hand, patents filed and a business plan has been customized. The wellness aspects of the unit make it timely and potentially very lucrative if handled properly. Most entrepreneurs would consider the status of the above-described project to be advanced and well positioned. Only one problem, a very big problem: the inventor is a brilliant engineer and conceptualist, but is phobic about standing up and presenting himself, his product and his profit opportunity. As a result, he will struggle to find investment capital, a license deal or a strategic alliance. To successfully commercialize this new wellness appliance, and any other new product opportunity, the inventor must be able to sell all aspects of the features, benefits and income generation to be derived from the novel device.

The example cited here is true. It is one of the saddest spectacles we see in the consulting world when poor basic sales skills stand between a great opportunity and success. The creator has identified a need. He has addressed the need. In the run up to presenting the product he has taken every correct step in the development process. Now, finally at the cusp of success, the inability to sell the idea is a major roadblock. This is silly. The most important task confronting any new business or product opportunity is the ability to sell the project. The only affirmation to a products value occurs when the item is sold, and for how much. The inability to sell confirms in the eyes of buyers and investors that there is a lack of need, commitment, confidence, and passion for the product. Selling is simply asking a person for a preferred outcome and obtaining their agreement to buy.

The seller conveys a product (or service, technology, patent, trade secret, etc.) and receives consideration (money, goods, property, etc.) from the buyer. Each side in a sales transaction should receive a fair perceived value. For many people the fear of finding themselves in a sales presentation or meeting format is truly enervating. They love their project and know it cold. However, they cannot overcome a dread of failure, rejection. They take failure personally. I have seen capable people break out in sweat, nervousness, become confused and flighty before a sales presentation that could dramatically change and improve their life. This real effect of the dread of selling themselves, and their opportunity, can be overcome and must be if entrepreneurial success is to be achieved. Short the option of hiring professional sales talent, or sales consultants, an entrepreneur will always need to be the sales face of his product and business. He has so much to gain and so little to lose.

Gaining a customer from a confident, successful sales presentation is crucial to a new enterprise. Losing a sale because of a stumbling performance can be crushing (and a lost sale is gone for good). Here are a few points that an inexperienced entrepreneur, with limited sales skills can utilize to improve in this essential area. Prepare, Prepare, Then Prepare Some More! Before any sales presentation you must do everything possible to learn about the prospect, their industry, needs, competition, current pricing models, promotions and industry trends. The more knowledge you have, the more confident you will be that you have answers for probable questions and objections. This preparation can go a long way to assuaging fear of the selling process. Confidence results in a conveyance of strength, and strength is always admirable in selling. Seek Out a Mentor! Somewhere in your life鈥檚 experience, you have made contact with a person with experience in business at some level.

Family, friend, a neighbor, a cousins brother-in-law, they are out there and closer than you think. Ask for help. I mentor at a university and consider it one of the most fulfilling parts of my busy schedule. I get back a lot more than I give, and I give a lot. Mentoring is rewarding. Contact small business incubators, SCORE and local university business schools for information on available mentor programs. Have you ever played a sport? The first time you swing at a golf ball I will bet that you did not hit a 300-yard linear rocket. You practiced. The more you practice the better you become at hitting a golf ball. Don鈥檛 read theoretical books on developing the golf swing, or watch training tapes. You learn, really learn, by doing something repetitively and critiquing performance results. It is no different in achieving sales success. The more you put yourself and your product in the sales arena the more comfortable you will become.