Selling to survive

Which was a better format, from a technical perspective: the Sony Betamax standard or the VHS standard? Well, according to Dave Owen of Media College and other technical experts, Betamax was, unquestionably, the better technology. Yet, it was discontinued due to the sales superiority of VHS. In the same vein, many would argue that the Apple technology is far superior to the PC technology, yet the interesting thing is that the Apple market share is less than 3% globally. In 2000, it peaked at over 4%.

I recently joined the board of an NPO with a former colleague. The NPO is trying to bring 300 of the top international entrepreneurs to South Africa in November 2010. The knock-on-effects of this programme will last for years to come. A large component of the programme will be dedicated to impacting local entrepreneurs and education.  So, off we went to Cape Town on a roadshow to raise money for the programme. I came back from the roadshow with a new found respect for my colleague, Orrin Klopper. He took what could have been a very dry and fact-filled presentation and converted it into an hour-long interactive and emotional journey. He engaged his audience with sincerity, passion and an absolute belief in his product. Orrin’s enthusiasm was so palatable and contagious that, at times, I wondered who was doing the selling? He or his audience? And, of course, the results were there. We received commitment from the participants, at every meeting, that they were going to be part of this amazing event.

So, here are some of the lessons I learned:

Prepare: Orrin had gone to great lengths to build the presentation and all the sales collateral that came along with it. He anticipated the questions that might have been asked and ensured he had answers and supporting evidence to answer the questions well.

Know your Client: Each client had different needs. Orrin researched each of the clients and ensured he spoke to their mandate. Each presentation felt like it was specifically for each client.

Speak with conviction: In Orrin’s mind, there was no doubt that the proposal he was presenting was (a) in the interest of the client; and (b) that he was going to close the deal. This confidence made all the difference in the sale. The clients were left feeling that they would be missing out if they were not part of this.

Make your differences clear: The presentation was a careful balance between ensuring that the client’s needs were covered and ensuring that the uniqueness of the proposal came across loud and clear. When the presentation was complete, the clients understood that they were not being asked to sponsor yet another conference. To them, they understood that this was a chance to be part of a once-in-a-lifetime event.

Speak the truth: Too often, I have witnessed entrepreneurs selling things on which it  is not possible to deliver. At no point in the presentation did Orrin cross the line. When asked tough questions, he answered honestly, even if he knew that the answer might jeopardize the outcome.

I recently attended a lecture by Kenneth Morse, the MIT Managing Director of Entrepreneurship, who pointed out something that completely blew me away. He brought to our attention that - although research has shown a direct correlation between the ability to sell and the survival rate of entrepreneurial businesses - there is not one sales course in any MBA programme or business degree of any of the top universities in the world.

And, in a survey conducted by Marsden Grant of London, they found that Marketing and Sales advice was regarded as the advice most sought after by entrepreneurs.

The ability to sell, coupled with your ability to market yourself and your business, are the two most important tools that you have to shield yourself from becoming part of the 96% of businesses that fall by the wayside in a ten-year period. Re-prioritise your activities to ensure that you become the best sales and marketing entrepreneur you can be. It’s the right thing to do.

News

On Wednesday the 5th of August, the first Partner Dinner was held in a private room at the Grillhouse in Rosebank. The guest of honour was Jonathan Beare, my mentor for the past 19 years. In the 19 years I have known Jonathan I have only witnessed him speak publicly once before. He is a humble and low-profile man who is an inspiration to many. Jonathan shared some of his stories and gave some insights as to what he thought made a good entrepreneur. This was a once-in-a-lifetime experience for many, including myself.

As most of you know, Darryl Wolfaardt will be leaving Raizcorp at the end of the month. We will be having a farewell ceremony for Darryl this Thursday, 20 August, at 4.30 pm in the Kramerville Learning room. Please let Naz know, by Wednesday morning, if you will be attending.

This Week's Challenge

Sell, sell, sell !