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Sales is not a sprint but a marathon!!

I happened to watch a portion of a documentary on marathon running. What I learnt is that it calls for more preparation than what is required for a sprint. Endurance is key for a marathon.

While speed and agility are important for a Sprint, one should save energy and stay in the game at a consistent pace, to be successful in a Marathon. But both require stringent practice. It’s needless to state that the training is completely different for each.

What can we learn from these and apply in our day to day Sales situations?

  1. Sales is not done on a level playing field.
  2. Techniques are for short term whereas in the longer term these simply don’t work.
  3. While a good start can give us a boost and make us look confident, it is only consistent performance that is going to keep us in good stead in the long term.
  4. Practice makes us perfect. So, let’s start practicing.
  5. Each situation is different. It may be a well laid out road / a pathway / a narrow path filled with stones or thorns / an uphill or downhill and it may rain / shine. Just like running a marathon, Sales situations also call for using our judgement on the ground.
  6. We should use our limited resources in a rationale manner.
  7. Let’s be prepared for the long haul.
  8. We may have to incorporate changes [slowing down or picking up speed] as we go along.
  9. We should focus on the rhythm and keep going forward.
  10. We should have less burn out for maximum productivity.
  11. We should know the route map well and be prepared for the encounters on the way.
  12. Most importantly we should enjoy the journey.

Some portions of a marathon resembles a sprint. So, the techniques will come in handy. We must be trained to handle such sudden sprints as well. And we should respond with speed and agility when the situation demands.

So, Sales is not just a marathon but a “series of sprints” as well. Success in one sprint or couple of sprints don’t guarantee success in the marathon. Marathon is a different ball game altogether.

If we know how to enjoy it, it will be a breeze.

Happy Learning!

Happy Selling!!

Contact us at:

sales at zignalytics dot com

#sales #salestips #crm

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What should your dashboard show?

Dashboards have been in use for more than two decades now. Initially, it was available only for the CXOs to stay up to date on their teams’ performance and targets. But it is now important for each one of us to use a dashboard to stay focused and reach our goals.

Let us take a quick look at how dashboards can help Sales folks:

  1. To get the focus back on deals that really matter.
  2. To get instant intelligence on deals.
  3. To know the Opportunities, Activities & Tasks – that calls for your attention.
  4. Reminders and Notifications: those missed deadlines, targets, largest open opportunity, some opportunity staying in one sales stage for longer than usual [velocity issues] etc.
  5. Your personal assistant of sorts: Suggestions and advice for you to take action before your manager gets to know about it.
  6. Closing possibility: what deals can close this month?
  7. Revenue level: what are the big ticket deals that are in the pipeline?
  8. Total open opportunities Vs YTD [Year to Date].
  9. New leads – created, qualified, lost etc.
  10. Weighted / Unweighted / Balanced / Ranked / Won Target – the various ways to look at the sales data and take action.

If you want a dashboard, please contact us:

sales at zignalytics.com

#sales #data #dashboards #targets #CRM

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VC 101 – A Primer on Seeking Funds for your Business!

For the Budding Entrepreneurs out there:

In any Industry there are both Good and Not So Good Players. And Funding Companies/Investors/VCs Community are not an exception.

You should know to separate the wheat from the chaff.

I am saying this from my own recent personal experience.

Ideas are Important. Without ideas, money can get nowhere. I repeat that: “Without ideas, money can get nowhere.”

So, do not under estimate your ideas. Do not undersell your idea or yourself. This is the KEY TO SUCCESS.

The Good VCs have an established process to apply. You can visit their websites to know more. You can do your homework on what kind of companies they have invested in, how those companies have performed and grown etc. You will know whether you are in good company or not, even before you start the application process.

Some VCs like Y Combinator [ http://www.ycombinator.com/ ] have mentioned the list of companies they have invested in, the companies that have failed or closed down etc. The fact that Y Combinator has mentioned their failed ventures shows they are also susceptible to failures but that does not make them any less. The fact still remains that they have succeeded in most ventures. Some of them have grown to become world class companies.

In the urge to get things off the ground quickly, do not rush the process. Instead stay put for the long haul, be firm on your ideas, thought process, business plans, goals etc. If not now, you will get to work with someone of your caliber soon. Wait for the right partner.

Before talking to VCs, you should:

  1. Do your homework
  2. Know their Fund Size, Frequency, No of ventures they will invest in a year, Funding Calendar
  3. Know the ventures they have invested in, so far & how they are performing
  4. Know their Industry standing & ranking
  5. Know their application process
  6. Talk to some of the ventures they have invested in
  7. Know their funding patterns – Seed Stage & Startup/Early Stage – $500,000 to $2 million, Series A – $2 million to $15 million, Series B – $7 million to $10 million, Series C – Post Revenue – hundreds of millions – used for acquisition of other companies in the same space etc.
  8. Where they have invested – is it ecom/food delivery/fitness or is there no such preference
  9. Qualifying criteria
  10. Last but not the least: Talk to a lawyer, get an NDA [Non-Disclosure Agreement] template drafted. This needs to be signed by the VC and you on a Stamp Paper when you want to share the idea with your VC as part of their application process. Most Professionally run VCs will agree and sign these NDAs. If they don’t, then it may be time for you to walk out. Hence, do this first, in the process, so that you don’t waste your time.

I am sure this post will serve as an eye-opener to the budding VCs as well. And I wish they too grow and become world class.

Happy Creating!!

Get in touch with me for Start-up Consulting at:
kannan at zignalytics dot com or call me at 984 555 7401.

Best Wishes,
Kannan

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America, August, Apple, Amazon – A’s & the Aces!

You must have read the news, I am sure.

Apple became the first $ 1 Trillion company in terms of market valuation in August this year, followed by Amazon, the second $ 1 Trillion company.

What makes Apple & Amazon tick?

One thing I am sure, they are focused on Customer Experience & making lives simpler for their customers.

Daniel Martins, an independent researcher says: “It’s too high of a bar to assume that they’ll succeed at everything that they do.” “But at the same time, I think Amazon is the best combination in the world of the scale of a large company and that entrepreneurial DNA with the spirit of a startup.”

So, that’s the secret.

It is reported that Apple took long to reach there whereas Amazon sprinted to get there. Amazon took 3 months to cover the last 200 billion whereas Apple took 15 months to do the same, news agencies reported.

Apple was founded in 1976 & Amazon in 1994.

Amazon generates an annual revenue of 178 Billion & in 2018 it may make a paltry sum of 8.5 Billion as profits. It employs around 550,000 people worldwide.

While there are differences between these two Trillion Dollar Giants, the common thing is this: They both know how to market and sell.

Jeff Bezos = Bill Gates + Warren E. Buffett, in terms of Net Worth.

Between Apple and Amazon, one sells at a premium whereas the other lowers prices consistently. You know who.

Some ideas to follow:

  1. If you do Marketing right, everything will fall in place.
  2. Create great Customer Experiences.
  3. Create excitement – on your products & services – and for people to work with you
  4. Have an entrepreneurial DNA.
  5. Have the spirit of a start-up.
  6. Be agile. Respond faster.
  7. Make lives simpler, better & a lot easier.
  8. Sell your dreams. Products will follow.
  9. Create a community of believers.
  10. Last but not the least: You can even start today. And Create. [I didn’t say “Compete”, for a good reason.]

Happy Creating!

Happy Selling!!

#sales #startup #ideas #marketing #branding

Contact us at:

Sales at zignalytics .com for any help in Marketing / Sales / CRM.