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Tips to Help you Think About Sales at Your Startup

Both Sides of the Table

It’s the lifeblood of any organization and yet most startups don’t have any sales DNA on their teams. It’s important enough that I dedicate a tab on my blog to startup sales & marketing. But the ground we covered was awesome for anybody wanting to know more about sales. What is your sales process?

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Start a deal room and keep it current.

Berkonomics

A “deal room” is an electronic or physical space dedicated to storing the massive amounts of data to be used in due diligence by a buyer, lender or by an investor. Email readers, continue here.] That’s a comprehensive piece on a company for use by a buyer in determining fit.

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How To Network With Really Busy People

InfoChachkie

Absent a human gatekeeper, you can capture a busy individual''s attention by crafting a compelling and pithy email subject line, voicemail message, Tweet, Quora or Facebook message. Review the company''s press releases, the recipient''s LinkedIn profile, etc. Some people are phone centric, while others reply primarily on email.

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Remind Me Why I Love You? (Why “In Person” is Everything)

Both Sides of the Table

You race back to the office to tell everybody how well it went and you wait for the follow-up call to have a partners’ meeting or talk about term sheets or at least dip into due diligence. I raced home to put my kids to bed, say hello to my wife and then spend a grueling administrative hour doing email. What do I do now?

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What’s a “data room” and how do you use it?

Berkonomics

A “deal room” is a cloud-based or physical space dedicated to storing the massive amounts of data to be used in due diligence by a buyer, lender or by an investor. That’s a comprehensive piece on a company for use by a buyer in determining fit. Your data room and its contents. Who will use it and when? When to start a data room?

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Find and build recurring revenues.

Berkonomics

Even though that reduced short term earnings, lease revenues over time far outweighed any combination of sale and maintenance revenues, and Xerox grew into a major company based upon its innovation and its recurring revenues. Email readers, continue here.] Think of the portion of fixed overhead covered by recurring revenues.

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Burn the bridges behind.

Berkonomics

I had to be successful at my new software company. Email readers, continue here.] My sales tax payments were due in the next few days, and I didn’t have the money. But I did have an appointment, a sales opportunity the next morning. I made the sale, and paid my debts. And it wasn’t easy.

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