Podcasts

Sales and Marketing Skills for Entrepreneurs

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

Get Inspired! Gareth Davies: Watch it here

Last Thursday we were joined by Gareth Davies who was producing shows like Strictly Come Dancing and helping to carve the career of countless TV presenters- from Claudia Winkleman to Graham Norton.


A former music and drama graduate from Royal Holloway Gareth went on to work at the BBC for 9 years on countless TV shows before going freelance.  His work has taken him around the globe and 2 years ago he set up The Presenter Studio – a TV Presenter Training Company that gives people access to the industry.  The business has seen presenters go on to present for all the major channels and continues to make the stars of tomorrow.

You can find his talk below.

What you missed: Musical Entrepreneur

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

What you missed last night

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

Solvej Biddle (Content & Calm) – Mumpreneur podcast

Solvej Biddle studied Economics & Politics at Royal Holloway between 1990-93 and subsequently founded Biddle Innovations, a company which has produced a range of products that have solved the problems she faced as a mother.

She took part in the last series of BBC TV’s Dragons’ Den and was successful in gaining £80,000 investment from Peter Jones and Deborah Meaden for a 22.5% equity stake in her idea, the ‘TrayKit’.

Solvej has lived and worked in the UK, USA, Europe and Africa. She is a lawyer and spent 12 years working in London until she gave up her job to develop the Content & Calm range of sleep canopies.

This podcast is from the Royal Holloway Entrepreneurs Get Inspired! event on 3rd February 2011.

Listen to more of our popular podcasts by subscribing to our iTunes feed.

Q&A: Nick Wheeler (Charles Tyrwhitt) & David Hathiramani (A Suit That Fits) podcast

Nick Wheeler founded Charles Tyrwhitt Shirts in 1986, while studying geography at Bristol University. The company has grown rapidly in the UK, the USA and Germany with sales of £50m last year.

In 2006, David Hathiramani met up with old school friend Warren and realised that by combining their love of suits, passion for business, and complementary skills sets, they could reinvent the way that people think about ordering a suit. Using unique web technology, A Suit That Fits gives customers the flexibility to design and completely customise their suit.

This podcast is from the first Thomas Holloway Lecture on 27th January 2011. It is chaired by Rachel Doern, Programme Convenor for the MSc Entrepreneurship at Royal Holloway, University of London. Rachel speaks first, followed by David.

Listen to more of our popular podcasts by subscribing to our iTunes feed.

Kelvin Cheung (FoodCycle) social enterprise podcast

Kelvin is the CEO and founder of FoodCycle. Before starting FoodCycle, he worked for the award winning social enterprise, MyBnk which develops young people’s financial and enterprise literacy.

FoodCycle combines young volunteers, surplus food and a free kitchen space to create nutritious meals and positive social change in the community. Food retailers throw out millions of tons of edible food every year due to supply overstock. The aim of FoodCycle is to redirect this food so it can be used to cook nutritious meals for people in the local community that do not have access to healthy foods for a variety of reasons, such as lack of income or knowledge of healthy nutrition.

This podcast is from the Royal Holloway Entrepreneurs Get Inspired! event on 20th January 2011.

Listen to more of our popular podcasts by subscribing to our iTunes feed.

Robin Bennett (Aktuel Translations) podcast

Robin Bennett graduated from Royal Holloway in 1992 with a degree in Modern Languages. (In)famous for starting a business selling sandwiches and BBQ food on campus, since then he has started eight separate companies – each for less than £5000. His most successful company, Aktuel Translations, combines his love of language with his positive attitude towards turning the things he loves doing into a career.

This podcast is from the Royal Holloway Entrepreneurs Get Inspired! event on 13th January 2011, and features the unique story of a modern language entrepreneur, as well as expert insights into the translation industry and hints and tips on finding work as an employee or as a freelancer.

Listen to more of our popular podcasts by subscribing to our iTunes feed.

Ry Morgan (PleaseCycle) podcast

From hero to zero – and back again!

Ry Morgan graduated in June 2010 from the University of St Andrews and is now starting up PleaseCycle, a business which seeks inspire cycling within corporations, helping them create a more sustainable, healthy and productive workforce. One of our most inspirational speakers, Ry takes us on his personal journey from successful campaigner to miserable failure and explains how he got back on his feet and started all over again.

This podcast is from our Get Inspired! event on 25th November 2010.

Lucy Caslon (Msizi Africa) podcast

In 2006 Lucy Caslon, a Royal Holloway alumna, travelled through East, Central and Southern Africa before spending four months with AIDS orphans in Lesotho. She got to know and love the children and worried about returning home and leaving them in need of nutritious food and better living facilities. On returning to London, she founded Mants’ase Children’s Home UK which later evolved into Msizi Africa.

In this podcast Lucy tells us how and why she set up this amazing charity.

Find out how you can help Msizi Africa.