MAKING THE REGISTER RING
Sales and marketing is the knife’s edge for all companies, as these two disciplines can make or break any business. It’s always easier to manage growth when there is top line revenue and some cash flow rolling in. A few key elements to look for in the Sales & Marketing strategy: 1) Leveraged sales; is the sales strategy set up in such a way that the business can gain access to an existing pool of potential customers quickly?; 2) Sampling; while there are many products that can be effectively sold without the consumer getting a hands on experience? Do successful products lend themselves to an extremely low barrier of entry?; 3) Viral marketing and distribution strategies or strategic channel partners; one of the most common problems when launching a new business is finding the budgets for marketing the new product or service. Smart entrepreneurs often find highly leveraged, strong word of mouth, strategic partnerships or other distribution channels; and 4) Clear and compelling brand strategy; a unified brand can provide a powerful springboard for all sales and marketing initiatives.
The only way for a company to make money, and let me emphasize this, the ONLY way to make money is through sales. Everything else (marketing, customer service, etc) either facilitates or supports your sales efforts. What and how you sell whatever it is you’re selling is up to you, but if you want to make that register ring then go SELL, SELL, SELL.
This is just one of the key criteria forward-thinking investors use when evaluating the strength of entrepreneurs and their new ventures. How do you measure up? Go to www.venturephenomeproject.com to read all 80 criteria and swap knowledge with other entrepreneurs & investors.