How to Sell by Tyler Bosmeny

Summary

Tyler Bosmeny, CEO of Clever, shares his experiences and insights on sales and the sales process for early-stage startups. He discusses key aspects like prospecting for potential customers, having meaningful conversations to understand their needs, persistence in following up, avoiding common closing traps, and tailoring your sales approach based on your business model. Throughout, he emphasizes the importance of listening, building relationships, and providing genuine value to customers. While sales has mystique, Bosmeny argues founders themselves can excel at it early on through passion, expertise, hustle and learning from experience.

Takeaways

• 😊 Sales is a core responsibility for founders, not just for salespeople
• 👂 Sales is about listening and understanding the customer's needs
• 🚪 Use your network, conferences, and cold emails to find prospects
• 📞 Have quality conversations focused on the customer, not just pitching
• ⏳ Sales requires persistence and systematic follow-up
• 💰 Avoid common closing traps like over-negotiating contracts
• 🎯 Align your sales model to your target customer and pricing
• 😀 Leverage your passion and expertise as advantages in sales
• 🤝 Build genuine relationships and provide value to customers
• 👥 Ultimately you need enough happy customers to sustain business

Q & A

What are some key advantages founders have when it comes to sales?

Founders have two key advantages - passion and industry expertise. Their passion for their product is unmatched, and they understand the problem it solves better than anyone.

What percentage of companies fall into the 'innovator' category according to the technology adoption lifecycle?

Only 2.5% of companies are considered innovators - those willing to take a chance on an unproven startup. This means you need to cast a wide net and reach out to many companies to find potential early adopters.

What makes conferences a powerful way to meet potential users?

At conferences, users are gathered with their peers and focused on learning. Having the attendee list in advance allows you to set up meetings and introduce your product more effectively than cold outreach.

What is the most important skill for sales according to the speaker?

Listening. The best salespeople spend more time listening and asking questions rather than talking about their product. Understanding user needs is crucial.

How can founders avoid getting bogged down during contract negotiations with early customers?

Don't quibble over small details, especially with your first few customers. Getting those initial customer commitments and revenue is vital, so focus on closing quickly.

What are some common closing traps to avoid with potential customers?

Avoid building custom features for a single customer, providing free trials instead of paid commitments, and letting the sales cycle drag on for too long.

How many touchpoints did it take to close one of the speaker's early deals?

The example showed over 15 touchpoints ranging from emails to calls and demos. Persistence and systematic follow-up is key.

How should founders determine the right sales model for their business?

Consider whether you need to land a few large customers vs. many small ones. Then build a sales process sustainable for that number and price level.

When is the right time for a startup to hire sales reps?

Not until the founders have done substantial sales themselves first. Otherwise you won't know what to look for in candidates.

What traits should startups seek out in early sales hires?

Energy, passion, and 'Renaissance' skills - ability to figure things out without much structure or collateral.