THE SURPRISING TRUTH ABOUT BUSINESS SUCCESS: STRATEGIES EVERY ENTREPRENEUR NEEDS TO KNOW WHEN GROWING THEIR BUSINESS - PART 3
If you haven’t read part 1 already, click here. If you haven’t read part 2, click here.
If you’re an entrepreneur wanting to grow your business from a side hustle or a hobby into an actual business, you’re in the right place! Today, I’ll take you through the three must-have strategies you need to start implementing in your business right now to set yourself up for future success.
Before we dive in, let’s set the scene. You’re early in your entrepreneurial journey, and in the beginning stages, you’re inundated with information about what you should and shouldn’t be doing. “Get on TikTok,” “Build an email list,” “Create a signature program,”…the list goes on and on.
Sound familiar?
But here’s the thing—starting any one of those things without a clearly defined strategy is a recipe for disaster and burnout (ask me how I know…). In working with my clients, I’ve found that one of the most common issues arises when they start in the wrong order when launching a product or service, leading to burnout, exhaustion, and low sales before they gain any real traction.
The secret sauce isn’t creating the perfect product right off the bat, making the all-important shift from “learning mode” to taking action in your business, or even creating that “business plan.” Instead, it’s learning how to implement these three core strategies: business, marketing, and sales.
Are you ready to learn how to do this the right way? Keep on reading, my entrepreneurial friend!
SALES STRATEGY SECRETS REVEALED
Have you ever come across an influencer with a massive social media following and thought, “Wow, they must be rolling in the dough!”? Or maybe you’ve seen someone with a beautiful website and assumed that they must be successful in business.
While these are common assumptions, the reality is that appearances can be deceiving. Often, people who are strong in marketing and know how to get attention are not always equally strong in sales. That’s because sales and marketing are completely different things, each deserving of its own strategy.
Once your marketing efforts are working (i.e., people are expressing interest in your stuff), it’s up to the sales strategy to convert that interest into paying clients or customers.
THE ELEPHANT IN THE ROOM: SLEAZY/SPAMMY SALES
Let’s be honest—“sales” sometimes gets a bad rap. Most people immediately think of the stereotypical “used car salesman” who will do or say anything just to make a buck. But sales doesn’t have to be sleazy. You are not trying to force anyone to buy something that won’t help them; you are providing a service that WILL help them! They came to you inquiring to learn more (as a result of your marketing), so they are interested in your product. Please don’t overthink this part or get caught in a negative mindset when it comes to selling. If you’re an entrepreneur, sales is part of your job… but you get to do it on your terms.
Remember, sales is a bit like dating—you can’t propose marriage on a blind date just because someone expressed interest. Instead, think of sales as part of a nurturing process for people to get to know, like, and trust you before they give you some of their hard-earned dollars.
THE FOUR ELEMENTS OF SALES STRATEGY
Now that we got the mindset drama out of the way, let’s talk through the four components that make up basic sales strategy. These are:
Identifying problems and pain points
Providing solutions
Debunking common objections
Creating a sense of urgency (without relying on spammy tactics)
IDENTIFYING PROBLEMS AND PAIN POINTS
Remember that market research section of our business strategy? This comes into play here in sales strategy as well. You can gain valuable insights into your target audience’s needs, preferences, and concerns by conducting thorough market research and engaging with them (via social media, email nurturing, personal outreach, etc.). This information, in turn, allows you to tailor your product or service offering to address these issues effectively and set your business apart from the competition.
When writing your sales copy, having an in-depth understanding of their problems and pain points will allow you to connect with them on a deeper level. Just remember, we’re not here to make them feel bad about their problems; we include references to them to show them we truly understand what they are going through.
PROVIDING SOLUTIONS
When you understand your target audience’s pain points, you can create (and sell) solutions for them. Demonstrating how your offering addresses their specific needs and delivers tangible benefits will help build trust and credibility with potential customers. By positioning your product as the answer to their challenges, you increase the likelihood of converting them into paying clients.
DEBUNKING COMMON OBJECTIONS
You can probably anticipate some, if not all, of your target audience’s objections to your offer. (And if you can’t guess any of them, go back and conduct more market research!) It’s best to address them head-on in your sales copy or on your sales calls. By doing so, you can alleviate their concerns, build their confidence in you and your offering, and pave the way for a successful sale. This will again help you gain their trust and show them that you are the person that can help them overcome their struggles. A few examples of common objections are lack of time, limited financial resources, and fear of failure.
CREATING A SENSE OF URGENCY (WITHOUT RELYING ON SPAMMY TACTICS)
Having urgency built into your sales process can motivate your audience to take action and make a purchase. However, you should avoid pushy or manipulative tactics that harm your credibility. Instead, focus on presenting genuine, time-sensitive opportunities such as limited-time offers, exclusive deals, or limited quantities. By showing the value of acting quickly in a transparent and authentic manner, you can encourage potential customers to decide without compromising your business’s integrity.
SECRET INSIDE SALES TIP
Most people think that sales is limited to the end client or customer, but don’t underestimate the power of corporate partnerships, licensing agreements, and other creative options to generate revenue. Creating strategic relationships beyond the typical business-to-client/customer relationship will open your business to even more opportunities.
THE ROAD AHEAD: USING THESE THREE KEY STRATEGIES TO GROW YOUR BUSINESS
By now, you know that the key to entrepreneurial success is more than social media followers or offering new products and services. Instead, it comes down to these three things: business strategy, marketing strategy, and sales strategy.
Most early entrepreneurs focus only on marketing strategy, mistakenly assuming that by doing so, the business and sales strategy will fall into place. Unfortunately, this leads to frustration over a lack of sales and eventual burnout.
But you are not like most early entrepreneurs! You now understand how these three strategies work together, and you can start building them for your business.
And the good news is, you don’t have to do it alone! I’d like to personally invite you to connect with me on Instagram at @kaseydamato, where I share even more valuable tips and insights to help you on your entrepreneurial journey.
Being an entrepreneur is tough, but so are you! So let’s link arms and do this thing together, shall we?
Sign off,
Kasey