Posted by president on January 30, 2012 under Advice, Podcasts | 
1. Setting Objectives
SMART objectives -the most well known method for setting objectives. S.M.A.R.T refers to the acronym that describes the key characteristics of meaningful objectives, which are:
Specific
Measurable
Achievable
Realistic
Time-Bound
http://youtu.be/0MpfWT92mIU
2. Positive Mental Attitude
Each of us develops communication techniques for trying to get our way in life. You are involved in selling when you want someone to do something every single day, so use your use persuasion skills to persuade someone to act into purchasing your products or services. Most people fail in sales as they are not resilient to people saying NO. If your target customer is only 1% of the market, then you should expect to receive 99 no’s before you get one yes. So expect and be resilient to those negative messages.
http://youtu.be/CjAIWzyMwC8
3. The Importance of Product or Service Knowledge
Have you ever been into a shop to buy something only to be disappointed when it is clear none of the assistants can answer your questions simply because they do not know the products? Product knowledge or lack of it makes a huge difference between those who make the sales and those who miss out. Everyone agrees, that without having a good understanding of what you are selling you are going to fail.
http://youtu.be/iiOvLJshcxQ
4. Figuring out your Target Market
http://youtu.be/MdLJoSsrsg0
5. Making Telephone Calls
Successful cold calling essentially relies on your own attitude towards cold calling. Cold calling is traditionally the most challenging part of the selling process, yet can be the most profitable.
http://youtu.be/9633aa5Xljg
6. Finding New Business
http://youtu.be/YJnKk5vUoaI
7. Time Management
It’s important that you develop effective processes for managing your time to balance the conflicting demands of time for generating new leads, networking, account management and following up.
Sort out your environment!
http://youtu.be/DRD8iph4890
8. The importance of keeping today’s customers
Everyone in your business should focus on today’s customers without exception. These customers pay the bills and therefore are key to your survival. New sales should be a small part of a successful business and therefore should be done by and only consume a small number of people.
http://youtu.be/dSNkhSoKcWY
9. Meetings & Appointments
Thorough preparation before a sales call is critical to achieving a good conversion rate of potential clients into firm orders. You need to make sure you’re knowledgeable about your client’s needs as well as your own. In the sales meeting, if you struggle to answer any objections or queries or appear to be underprepared, you will almost certainly lose any potential sale.
http://youtu.be/-Xw7FaorHOk
10. Non Verbal Communication
93% of our communication is nonverbal communication and is broken down as follows:
· 7% verbal
· 38% tonal
· 55% physiological
Given that selling is largely about communication and that 93% of that is nonverbal communication it would make sense for you to examine nonverbal communication as a persuasion technique, wouldn’t it?
http://youtu.be/oVcG18Vxves
11. How to Sell Yourself
Take for example the insurance industry. There are so many insurance agents out there. Say you know Charlie, Louise, and Daniel and all three of them are from the same insurance company. All three of them approach you to tell you about their company’s insurance products. All three of them are selling to you the same product. What makes you buy from Charlie rather than Louise and Daniel?
Basically, one thing… you like and trust Charlie much better than the other two. As you can see, selling yourself is much more important that selling your product.
http://youtu.be/pS9qLRAnX9Y
12. Why People Buy
We can split the reasons why people buy into a number of factors which you need to understand before starting to sell. A person will have one or more of these factors which you can then base your sales strategy on.
http://youtu.be/Jty00aL94mA
13. Questioning Skills
Questions are the best way to find out information about your prospective client and ensure you understand their needs and develop a firm relationship with them. If you ask the wrong questions, you’ll probably get the wrong answer, or at least not quite what you’re hoping for, so think about the questions before hand and plan them into the meeting.
http://youtu.be/QyG2TmEhG3g
14. Effective Listening Skills
The most important skill you can develop as a sales person is the ability to listen and understand what your prospective clients are telling you. There are two forms of listening active and passive. Most people develop lazy passive listening skills which mean they hear the words, don’t process the aural sounds into understanding and follow through with feedback.
http://youtu.be/C8zNx_IarUw
15. Identifying Needs
You will need to help the prospective client recognise all aspects of their needs. At the end of this stage, the customer must be able to define all their needs and be able to discuss them in a prioritised order. A successful entrepreneur will be the one who can get the customer define his/her needs in a way that closely matches with the solution he/she is trying to sell.
http://youtu.be/cOndTLWNSiI
16. Selling Your Benefits
A well created benefit is a psychological trigger that compels a person to some action to purchase, due to their nature and the needs they have. It should be used to manipulate the sales encounter so that action is taken to buy a product or service by overcoming all possible sales objections and enticing the buyer to take action NOW.
http://youtu.be/kcpicxs7_vs
17. Powerful Presentations
This is the time where opportunity meets capability and you have to meet the challenge. The presentation contains seven powerful points to get across to your prospect.
http://youtu.be/nVz4qYbyxjQ
18. Turning Quotes into Orders
If you are dealing with a committee who need to have a democratic process in deciding to purchase your product, you have to understand who and what you are dealing with. So research the problem and ensure you can influence the outcome.
http://youtu.be/7dx-QLDdoVQ
19. Objection Handling
Objections are a normal step in the sales process, in fact if you don’t get them you should worry. As they are normal, you should plan for them and be controlled in your handling of them. Therefore we have a simple step by step process to handle objections.
http://youtu.be/XLUX_5NVZwg
20. Dealing with Multiple Decision Makers
http://youtu.be/3NuGhtslwdU
21. Providing Pricing and Discounts
One of the hardest tasks as an entrepreneur is deciding on what to charge people. You want to make a profit, gain market share and develop a meaningful brand which consumers respect. However, this doesn’t come out with a number which you can enter into paypal or your customers hand.
http://youtu.be/6ty9iBrw8Ps
22. When to Close the Sale
The aim of the sales process is to move the suspect to a prospect to a customer. This stage is about moving them towards the customer by closing the sale.
http://youtu.be/Y8N6sjMIqUQ
23. Closing Techniques
There are over 99 closing techniques, so here are just three techniques you can remember, use and develop as your own to sell your products. The key factor is to make it your own and be able to use it in the heated sales situation, thereby ensuring your success.
http://youtu.be/prRFhWSd_1c
24. Organising the Next Steps
The sales presentation and your handling of meeting objections should deliver a positive response. However, we all know there are three possible outcomes: Yes, Maybe and No. You need to be prepared for these and ensure you can manage each outcome in a highly professional manner which will ensure they want to continue building a relationship wih you.
http://youtu.be/fv7OpZSeOno
25. Consultative Selling Techniques
Consultative selling is about getting an in-depth understanding of the problem and then creating an intelligent, effective and creative solution. It’s about collaboration, building trust, adding value to the relationship. You will need to enter the relationship with the mindset of a consultant and base your Q&A sessions on finding their key drivers. You will need to focus on them and not wining the sale, so you can create solutions. Don’t be afraid to say not for me, pass on contacts who could help or provide expert advice.
http://youtu.be/LPGPzwmaCIA
26. Negotiation Skills
Negotiation is the art of reaching an agreement by resolving differences and leaving the other side intact and positive.
http://youtu.be/qqQGNFdo8sg
27. Sales: What could go wrong?
We know that things will go wrong, they just do, but you need to understand where the risks lie and how to ensure you manage the customers expectations and continue to build the relationship.
http://youtu.be/Og5uPP2m9vw
28. Account Management
The easiest sale you will ever get is from an existing customer. The fastest way to get new customer referrals is from from existing customers. The best way to improve your business is by getting feedback from existing customers. Ok, I think you understand, you have to build a good relationship with your existing customers.
http://youtu.be/9MqyQztNF_0
Posted by president on January 25, 2012 under Advice, Events |
In February, Capital Enterprise will be running or involved in a series of free events and special offers designed to inform entrepreneurs on the best and latest ways to finance a high growth business and subsequently provide those with the support and contacts to raise the money they need .
1. Leading for Business Growth:
2nd February
2pm-5pm
@ UCL
Do you have a business model and management team that can achieve the type and amount of finance to fund high growth. Not sure then you should consider signing up to this workshop led by specialist from the world renown Warwick Business School http://capitalenterprise.org/event-details/?eid=123
2. Angel Fun:
13th Feb
4pm-7pm
@ The British Library Conference Centre
The British Business Angel Association in partnership with Capital Enterprise will be running through why now more than ever is a good time to look at Angel Finance to fund growth-http://www.bl.uk/bipc/workevents/angelfun.html
We will look at the how the Government’s new Seed Enterprise Investment Scheme (SEIS) initiative will work in real life When launched in April this year SEIS will offer angel investors up to 50% tax breaks for a total of £100k invested in start-ups and each start-up that meets the criteria can receive up £150k equity investment under this scheme. There will be also an opportunity to question Angels on what they look for, how best to approach them and how they value an early stage business. On the latter point I do recommend you look at a recent blog by Seed Camp or the following slide-deck
3. Next Generation of Finance – Launch Event
17th Feb
10:30-12:30
@UCL
Capital Enterprise, Angel Capital, Crowd Cube, People Fund it, CDFA and North London Community Finance have all come together to launch a series of events that will give you the insider know-how and fast track routes to finding non- traditional bank finance to fund your entrepreneurial venture. Not to be missed so to get your free ticket here http://ngfle.eventbrite.co.uk/
4. Business Bootcamp Lounge
21stFebruary
6-9pm
@O2 Workshop Tottenham Court Road.
The next Business Bootcamp Alumni Lounge will feature short presentations and a Q&A sessions with a number of London entrepreneurs who have recently raised investment funding from Angels and VC’s. If you have not been before and enjoyed the drinks, nibbles and good company then please check up out here. http://www.meetup.com/BB-Lounge/events/49243982/
5. The Beginners guide to the “Lean Start-up”. (or How to bootstrap a high growth business).
23rd February
10am- 12-30pm
@ O2 Workshop Tottenham Court Road
The Lean start-up method is now the preferred method used by Silicon Valley start-ups and high growth USA entrepreneurs. If you want to know what it is, why it could give you a way to reduce the risk and cost of starting an ambitious business and how you can use tools such as the Canvas Business Model to get going, then enrol now for this free introductory workshop.
6. Pitching for Management:
27th Feb
5-7pm
@ Nabarro’s Holborn WC1.
Capital Enterprise has joined forces with Angel News to co-sponsor a pitching for management event for those potential high growth companies that need to find the right management with the right customer contacts to enable them to scale their business. To find out more please check out http://pitchingformanagementlondon17-eorg.eventbrite.com.
7. Special Offer- Free 1-2-1 Business Planning support
Capital Enterprise has secured a deal with its member CEME, to provide registered businesses in London who are looking to raise money, with a business consultant in order to help them complete their financial forecasts and finesse their business plans and pitches. If you are interested then please e-mail john@capitalenterprise.org
Posted by president on January 5, 2012 under Advice |
A great video here for those of you with a business or idea that you need to pitch
A great blog post on small business development strategy
http://blog.zintro.com/2011/12/21/small-business-strategy-guide-how-to-develop-a-strategy-for-your-small-business/
Posted by president on November 29, 2011 under Advice, News, Research |
Fear of Ignorance.
by Rand Fishkin
This past week, I was interviewing a candidate for a VP role along with two of our engineering leads. Everyone in the room excluding myself was classically “technical” – they could write code, had experience solving hard software problems and a background in computer science. I wrote my last line of PHP in 2004, and it had to be rewritten by a real programmer within 6 months.
go to http://randfishkin.com/blog/153/fear-of-ignorance to finish off the article.
———————————————————————————————————————————————
Don’t. Waste. Time
by Jason Freedman
Stuff we startups do that doesn’t delight users:
Office space
Launch parties
Health insurance plans
Salary negotiations
Founder equity splits
Series F stock
Office Food
Team-building activities
CRM systems
Bookkeeping
Head count
Working in SOMA
Convertible debt caps
Valuations
TechCrunch
Karma scores
ISOs
Powerpoint
Business Cards
Banks
Lawyers
Desks
1099s
Bug Trackers
Agile Processes
Advisory Boards
Hiring
Cap Tables
Payroll
Meetups
Meetings
Of course, much of this stuff still needs to get done. At some point. And some of it really is important to the process that eventually creates delight for users. But none of it directly delights users. They’re all inputs. None of it is product. When you build a great product, one that delights users and achieves product-market fit, you’ll have lots of time to work on all these things and optimize them to your heart’s content. When your product is not even built yet, none of this stuff matters. But your startup, in the pre-product phase, is basically a ticking time bomb. The only thing that can prevent it from exploding is user delight. User delight attracts funding, enhances morale, builds determination, earns revenue…Until you get to user delight, you’re always at risk of running out of money or, much more likely, losing a key engineer to something more interesting. Time is your most precious resource.
Finish the article here http://www.humbledmba.com/dont-waste-time
Posted by president on November 24, 2011 under Advice, News |
This article by Mike Myatt explores the importance of building a disruptive business model… It’s worth a read if you think your business or idea doesn’t have that special something that will make it stand out, and survive the market place.
How disruptive is your business model? While much has been written about corporate vision, mission, process, leadership, strategy, branding and a variety of other business practices, it is the engineering of these practices to be disruptive that maximizes opportunities. Without a disruptive focus you are merely building your business model on a “me too” platform of mediocrity. Nothing is more critical to your efforts in increasing your revenue growth and corporate sustainability than understanding the value of disruptive innovation. So, in today’s post I’ll examine the power of disruption as a key business driver…
Finish reading the article here
Posted by president on October 26, 2011 under Advice |
http://www.bl.uk/bipc/ The british library offer a range of face-to-face advice sessions with our information and business experts, held at the Business & IP Centre inLondon.
http://www.companiesmadesimple.com/ The simplest company formation service
www.ted.com The most inspiring talks out there from some of the most incredible entrepreneurs in the world
www.vistaparint.co.uk Vistaprint offers small businesses everything they need to market their business such as high-quality printed marketing materials, promotional products and marketing services such as copywriting, design, websites and postcard mailing.
Posted by president on October 24, 2011 under Advice, Events, Podcasts |
Last week we heard from Deepak who founded DeepImpakt recordings after floating about in several ‘mainstream’ jobs and realising his heart was in music. Here’s what you missed: http://bambuser.com/channel/royalhollowayentrepreneurs/broadcast/2061888
Posted by president on October 20, 2011 under Advice, Events |
RHUL Entrepreneurs Society is delighted to support the forthcoming POD Talks event themed: “Expand Your Brand” will be taking place on Saturday 19 November 2011, 9:00am to 5:30pm at the Congress Centre, central London.
POD Talks are all-day events featuring presentations by preeminent thinkers, leaders and entrepreneurs who challenge conventional thinking. They will share their ground-breaking strategies with you, and offer practical guidance on how to maximise your brand’s potential.
“Expand Your Brand” will show you …
- How to turn your brand/business into a household name
- How to develop and maximise your own personal brand
- How you could inspire your customers to LOVE you
- How you attract more business
- How you can use the right products to make yourself more of an authority in your field
- How you could tap into the 100′s of free tools on the web (like YouTube, Facebook and Twitter) to make yourself more influential, more reputable, more transparent and more likely to win business
It will also …
- Encourage you to meet the other excellent entrepreneurs in the audience
- Get you thinking bigger about your business than ever before
- Get you reenergised and juiced for your business again
- Share with you real stories of businesses that have been runaway successes
POD Talks are all-day events featuring presentations by preeminent thinkers, leaders and entrepreneurs who challenge conventional thinking. The speakers will share their ground-breaking strategies and attitudes with you, offering niche guidance, their personal experience and workshops on how to maximise your professional and personal potential.
POD Talks provide an exceptional opportunity to connect with some of the brightest minds in business today.
If you have exciting things to share with the world and want to get it out to as many people as fast as possible … this event is for you!
The incredible line-up already includes:
Richard Reed (Co-founder of Innocent Drinks)
BJ Cunningham (Serial Entrepreneur, Motivational Speaker, Author, Brand Expert)
Kristin Hallenga (Founder of Coppafeel, Pride of Britain Winner)
Simon Woodroffe OBE (Founder of YO! Sushi and YO! Brand, BBC Dragon)
Steve Bolton (Founder of Platinum Property Partners)
David Oliver (UK Leading Marketing Manager, Leadership Coach, Author of 8 books)
Daniel Priestley (Founder of Triumphant Events, Author)
Jeremy Gilley (Founder of Peace One Day)
…and a special surprise guest to be announced shortly!
Exclusive RHUL Promo! to claim 50% off Silver tickets (from £49.00 to £24.50) simply enter the following promotional code: RHUL219POD (only 30 tickets available)
Click here to go through to the event site for more info and tickets.
As always, all proceeds go to the non-profit Peace One Day to support us in fuelling POD’s Global Truce 2012 campaign.
Posted by president on October 14, 2011 under Advice, Podcasts |
Interested in developing a website? Mobile app? Starting up your own company at 21? Rich Martell, internet entrepreneur came in to tell us how it’s done, hear what he got up to here http://bambuser.com/channel/royalhollowayentrepreneurs/broadcast/2041713
Posted by president on October 13, 2011 under Advice, Competitions |
There’s a lot of information on the internet for young entrepreneurs, and we get how hard it is to find the good stuff. We’re going to filter through it all for you, and highlight the best of it….every week! First up is funding. We understand that it’s something lots of you are after, and so here are our picks of the week…. 
Royal Holloway Entrepreneurs run funding competitions about three times a year- keep an eye on our website and newsletter. We also tell you about all the best funding opportunities available to students!
Government grants are available from www.businesslink.gov.uk/support (great for information and support too)
Grants for social enterprises and charities are at www.fundingcentral.org.uk and www.unltd.org.uk
Grants are available monthly at http://www.shell-livewire.org/awards/ (make sure you check out their criteria for judging before you apply to boost your chances of winning)
Annual grants (over 20 prizes be won) can be found at http://www.westfocus.org.uk/event.php?event_id=16 (These grants are only available to students at six universities in the UK- the odds are in your favour with this one)
Annual grants are available at http://www.venturelab.co.uk/
If you need some advice on applications to any of the above please get in touch: president@royalhollowayentrepreneurs.com
