One of the most important aspects of sales is the follow up. In my opinion, THE most important aspect of sales at a startup is the follow up.

Staying in touch with your prospects and building a foundation for a business partnership will show a great stream of revenue for the company (not to mention, it will definitely score you some referrals). How do you know when to follow up? When is it too much? When is it not enough? And how do you move the sale forward every single time that you speak to your prospect? Before I run through the answers to these questions, I’d like to point out that without follow up, you are letting the prospect come back to you when they are ready. This rarely happens, as competition will come in and snag the business 99% of the time.

How do you know when to follow up?

The best way to gauge the first follow up call, is to evaluate your success on the initial presentation. Was there legitimate interest? What work needs to be done on your end? What information do you now need from the prospect? You need to ask yourself these questions in order to figure out when a follow up call needs to be placed. When you decide it is time to follow up, I have found that a great way to ensure that a follow up call goes well is to have an E-mail waiting for them in their inbox when you reach out. Always give the prospect a way to follow along. Whether it’s sales collateral, case studies, or generic information about your product, the prospect will see the effort you are putting forth and is more likely to help you push the sale forward.

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Congratulations to Venmo on getting their first round of funding, for what seems to be a killer idea. For all the skeptics out there, let’s remember that feeling of being broke and having no immediate resolution. Now, we can all have our rich friends front us the money!

We originally covered them last month and still love the concept.

One quick point regarding Venmo running into problems with “Trust”. The trust factor will be more prominent in lending your friend the money, rather than what company you are going through.

I think these guys just hit a home run and I can’t wait to see how it turns out!

What Max stated on his personal blog “Let Them Own It” is true in many ways. Not only does molding one of your soldiers into an MVP make the company money and add value to the overall team, but it truly leads that employee to victory and jump starts them into a successful career.

I would also like to comment on the “don’t micromanage” bullet point that Max included. Micromanaging does a whole lot of bad. It scares employees, and the last thing you want is to scare someone into doing their job. Working for a startup is stressful enough, and the added pressure from a neck breather is just not necessary. Giving an employee the tools to do his job is necessary, but if you feel the need to micromanage, then you need to re-evaluate your hiring process, as well as your own managerial skills, or lack thereof.

Please study these “Do’s” and “Dont’s”. If taken lightly, you simply will not succeed, but if you take note and apply these particular strategies into your overall business model, good things are to come. Scratch that, GREAT things are to come!

If you are lucky enough to work for a successful startup in your career, then you will learn one of the greatest skills someone can master.  This is of course, closing a deal.  Sure, any company out there can technically show you how to close.  However, until you’ve seen the heart, determination and will that it takes for someone heading up a startup to close a deal, then you have not seen anything worthwhile.  Closing deals for a startup is something special.  It’s different.

How?  It’s all about being part of something special and most importantly, making your client feel that they are extraordinary.

Walk into a popular fast food chain, and place your order.  Please take note to the lack of care put into getting you what you want.  The next day, go to the newest sandwich shop around you.  See how well they take care of you.  They’ll make whatever you want.  Doesn’t matter what the size, or what the topping.  See where I’m going with this?

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One of the greatest questions ever posed came from the movie “Pulp Fiction”.  “Do you listen or wait to talk?”  I think about this often.  Often enough to know that it’s time for everyone to start listening.  There are many ways for a successful startup to get off it’s feet and start flexing it’s muscles, however, the quickest way to sign new business, is by listening.  The best way to keep business, is to listen.  I want to quickly dissect the differences between “waiting to talk” and “listening” for those that may not see the clear distinction.  I want to talk about this from a sales perspective, but since everyone in a startup should be selling at all times, this 100% applies to you.

When one waits to talk, they are doing a number of things wrong.

1. Undermining the prospect.
2. Flexing their ego.
3. Not answering questions appropriately.
4. Not closing nearly enough business.

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In my experience at a startup, I found many things to be eye opening contradictions of what I was taught in school, mainly college. “Systematic processes with finite rules and explanations that have no wiggle room, in which if you fail, you will be fired.”  That is what I learned from dozens of business classes in college.  Who knew the real world was a lot more like High School.

Day one at my first startup was not exactly what I had expected.  There were no men in suits and there were no exaggerated hierarchies there to intimidate.  There was however, something waiting for me at my desk.  Intangible as it may be, fun greeted me as I arrived.  I was asked to sit down and sell.  I wasn’t asked to make sure x, y, and z were done in order to sell.  I wasn’t thrown into a 10 day training class followed with an SAT type test to see if I would make it.  I also did not have people breathing down my neck to ensure I was doing my job.  From the moment I was hired, a trust was built that I felt unworthy of.  It instantly instilled a work ethic that led me to the top.  Naturally, being in sales, you always want to be the best.  Fortunately for me, I was given the one tool to make that possible.  Being surrounded by successful and money driven people.

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