From Amos Schwartzfarb, serial entrepreneur and veteran Managing Director of Techstars Austin comes the elemental, essential, and effective strategy that will help any startup identify, build, and grow their customers from day 1
Most startups fail because they cant grow revenue early or quickly enough. Startup CEOs will tell you their early missteps can be attributed to not finding their product market fit early enough, or at all. Founders overspend time and money trying to find product-market fit and make false starts, follow the wrong signals, and struggle to generate enough revenue to scale and raise funding. And all the while they never really knew who their customers were, what product they really needed, and why they needed it. But it doesnt have to be this way, and founders dont need to face it alone. Through expert guidance and experienced mentorship, every startup can avoid these pitfalls.
The ultimate guide for building and scaling any startup sales organization, Sell More Faster shares the proven systems, methods, and lessons from Managing Director of Techstars Austin and sales expert Amos Schwartzfarb. Hear from founders of multi-million-dollar companies and CEOs who learned firsthand with Techstars, the leading mentorship-driven startup accelerator and venture capital firm that has invested in and mentored thousands of companies, collectively representing billions of dollars in funding and market cap. Schwartzfarb, and the Techstars Worldwide Network of more than 10,000 mentors do one thing better than anyone: help startup entrepreneurs succeed. They know how to sell, how to hire people who know how to sell, and how to use sales to gain venture funding'and now you can, too.
Sell More Faster delivers the critical strategies and guidance necessary to avoid and manage the hazards all startups face and beat the odds. This valuable resource delivers:
A comprehensive playbook to identify product market direction and product market fit
Expert advice on building a diverse sales team and how to identify, recruit, and train the kinds of team members you need
Models and best practices for sales funnels, pricing, compensation, and scaling
A roadmap to create a repeatable and measurable path to find product-market fit
Aggregated knowledge from Techstars leaders and industry experts
Sell More Faster is an indispensable guide for entrepreneurs seeking product-market fit, building their sales team, developing a growth strategy, and chasing accelerated, sustained selling success.
Foreword xiii
Acknowledgments xvii
Introduction: Sell More Faster'Why You Need to Read This Book 1
Starting Up 3
About This Book 9
Chapter 1: The W3 (Who, What, and Why) Framework 11
Where the Heck Do I Start? 12
Who are You Selling To? 17
What is Your Customer Buying? 21
Why is Your Customer Buying It? 24
Putting W3 Together 30
Chapter 2: Finding Your First Customers 37
The W3 Framework is Worthless Until You Test It! 38
The Wrong W3 39
Sales versus Customer Development 46
How to Find Your ICP (Ideal Customer Profile) 50
Product-Market Direction and the Quest for Product-Market Fit 58
Now Its Your Turn to Start the Customer Development Process 62
Chapter 3: Your Sales Process'The Road to Repeatability 63
Why Having and Knowing Your Sales Process is Important 65
Teasing Out Your First Sales Process 69
Building Your Sales Model through (Not) Guessing 78
Your CRM Blueprint and Early Sales Model 82
Chapter 4: Getting to Repeatability 89
How Do You Know When Youve Made a Sale? 90
Value Trading and Pricing 92
Negotiation 101 98
The Process of Making a Deal 101
Chapter 5: Scaling Your Team for Speed 107
Knowing When Its Time to Hit the Gas on Hiring 107
Your First Sales Hire 110
Finding Repeatability in Hiring 120
Paying Salespeople 131
Chapter 6: Big Businesses are Built after the Sale is Closed 143
Keeping the Momentum Going 144
Customer-Centric Cultures Win 147
The Postsales Process 149
Retention and Growing Your Revenue Base 154
Chapter 7: Now Go Out and Sell More Faster! 159
Take the Long View 160
Implementing What Youve Learned 160
Revel in Your Passion 162
About the Author 163
Index 165
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