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12.5 Principles of Entrepreneurial Greatness

Monday, August 14, 2006 at 04:51AM

This is certainly not the real title, but it might as well be as far as I'm concerned. The Little Red Book of Selling (entry also listed under books) is not about how to be an entrepreneur - it's about how to freaking get people through the door. No quick fixes - rather direct advice (with examples) of what you're not doing, what you're doing wrong and how to fix the issue.

This is a sales book - and sales is everything from acquiring customers to advisors to getting venture capital. Thus, the suggestions given apply very well to all levels of entrepreneurship. When it does relate to sales alone, some of the suggestions assume you've got an established product, but not most. A few things he points out, but not a complete list:

  • Give value first: before asking someone to do something for you (buy your product, give you money), give them something of value first - advice, tips, etc. Although the book does not directly suggest this - I took one of his illustrations of how to add value first and extended it to early stage entrepreneurship - If you are building your business now, but have not launched, you can provide a newsletter or blog on a related topic and, in it, offer valuable advice in this manner. When you're ready to launch, you can mention that you (by the way) just launched XYZ and why your audience should care. This is a great idea because you've got a relevant, receptive audience listening and

  • Go where your buyers are and network: go to their association events and regional meetings. I used to do this all the time. It's soooo helpful!

  • How to know if you're doing sales correctly. The biggest take away here is - are you talking to the decision maker and how do you know? tips for how to get to that person and around the gate keeper. He gives excellent suggestions here - worth reading, and especially so if you're in the B2B.

  • You will be out beat by those who are always educating themselves. Don't stop learning and improving yourself. couch potatoes watch out!

  • There are things that are too expensive and you cannot afford - do them anyway because that's where your sale is. examples: video testimonial for sales presentations, going to industry networking events. if you're company does not pay for it, suck up the cost yourself. and he has great reasons why.


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