I recently talked with a co-founder of a company that sold to enterprises. He and his co-founder are in our peer group, and I asked him that very question. How does a young entrepreneur sell to enterprises? And, he said two things:
1.) Lower the barrier of entry for enterprises to test your product. Understand what their inhibitions are:
a.) Productivity costs caused by implementing new software that could require training and infrastructure investments.
b.) Fear that your startup could go out of business in a year, and they're left with this unsupported, buggy software.
c.) Disapproval from shareholders that they are taking a risk with this unproven company.
Then, create a solution to tackle those concerns, and sell them the benefits (typically ROI) that your product will bring.
2.) And, this young entrepreneur also recommended to have experienced people on your team, whether advisors, investors or employees, to give you credibility.
Two sales techniques I heard not too long ago:
Identify decision makers. If you can't reach them, then go through gatekeepers - like a personal assistant.
Avoid talking about technology. Most likely, the person you're speaking with isn't technical. Instead, give them a brief pitch about why you're product will give them a competitive advantage in their market.
And, remember an enterprises care only about two things:
i. Making Profit
ii. Managing Costs
Make sure your product fits in one of those categories.
1.) Lower the barrier of entry for enterprises to test your product. Understand what their inhibitions are:
a.) Productivity costs caused by implementing new software that could require training and infrastructure investments.
b.) Fear that your startup could go out of business in a year, and they're left with this unsupported, buggy software.
c.) Disapproval from shareholders that they are taking a risk with this unproven company.
Then, create a solution to tackle those concerns, and sell them the benefits (typically ROI) that your product will bring.
2.) And, this young entrepreneur also recommended to have experienced people on your team, whether advisors, investors or employees, to give you credibility.
Two sales techniques I heard not too long ago:
Identify decision makers. If you can't reach them, then go through gatekeepers - like a personal assistant.
Avoid talking about technology. Most likely, the person you're speaking with isn't technical. Instead, give them a brief pitch about why you're product will give them a competitive advantage in their market.
And, remember an enterprises care only about two things: i. Making Profit ii. Managing Costs
Make sure your product fits in one of those categories.