Over the last years we have had an opportunity to get to know the startup market around the world - their needs and the biggest challenges they face. We defined, what often determines their success and show you how one can create an effective sales process based on MVP.
Every startup has an urge to develop, but not everyone knows how to do it. The basis for success is to build the right sales process that will allow you to earn. What we can recommend is to create a MVP product that will allow you to look for optimal sales solutions. It is a great way to test, draw conclusions and improve the whole process as it is. Below are four most important factors that you should consider while managing the sales process.
At the beginning of the sales process building, what is difficult is to identify specific solutions that will definitely work. Therefore, it is worth carrying out several tests that will allow you to find optimal solutions. This way you can check what will work for your product and what you should refuse from. This comes as especially important when you are to introduce a new product to the market and you do not know what conversion type is right for you. Thanks to well-tested A/B tests you develop an effective process which you can base your sales activities on.
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Go global or at least check your services or products on a few markets. Sometimes building a database in emerging markets might be hard as the market is not ready yet. Each market has its own specific features, so you need to check, where you will be able to generate the most profits. It may happen that the market you take for a natural direction turns out to be a wrong decision. High entry barriers can play a key role. Especially for startups, which often have a limited budget at the beginning of their operation.
Build your team as small as possible. It is highly recommended not to add people to your staff, if you are not sure that the business is ready to start operating on the market. Not only you will save additional funds, but will also have an opportunity to experiment. It is worth to getting feedback and making improvements.
In addition, you must remember about the right selection of people. Get your team involved into dealing with business and sales aspects. You will increase the number of leads to close, which will positively affect your sales results.
Specify the goals your team is to pursue. They should be planned well enough to stay both challenging and realistic. Take into account the current level of business development, the market situation and human resources that you have. Goals will be a reference point to show you the effectiveness of the undertaken actions. If something goes wrong, you will know, what needs to be changed to achieve the expected results.
Read more: EU tech companies are growing fast, but the US still hold the leading position on the market