Build a Better Sales Machine: Part 2
In Part 2 of our Build a Better Sales Machine series, we discuss the importance of utilizing data and technology to boost the efficiency and effectiveness of a company’s sales team. Technology plays a vital role in managing and increasing a team’s productivity which can help ensure a company’s ability to grow and scale.
Build a Better Sales Machine: Part 1
Building a powerful and successful sales machine starts with your people. As we often advise our entrepreneurs, you can have the best Sales Force Automation systems and predictive metrics, but without the right managers, sales people, and culture, your sales organization will struggle. Here are five tips for creating a proactive and motivated sales team.
Bootstrapped Companies and Human Capital
Improve Your Recruiting Process to Avoid the High Costs of Bad Hires
The costs associated with researching, recruiting and retaining talent can be daunting for a growing company. In fact, in Mainsail’s annual survey of bootstrapped entrepreneurs and executives, “Finding good people to hire” was by far the most commonly cited challenge entrepreneurs expected to face in 2014. Many entrepreneurs and growing companies don’t have access to the vast network their larger and better resourced competitors have to source top talent. And yet, finding the right people at the right time, and doing it in a cost-effective way, is crucial for these companies.
Mainsail’s Third Annual Bootstrapped Sentiment Survey
Bootstrapped Entrepreneurs More Optimistic About Economy
For the third consecutive year Mainsail Partners conducted a survey of over 500 entrepreneurs and executives of bootstrapped companies with the goal of understanding their outlook on the U.S. economy and their own businesses headed into 2014. The survey provides insight into the sentiment of entrepreneurs at small and medium-sized businesses by asking questions related to their expectations for growth, areas of opportunities and challenges, and plans to invest in their business in the coming year.
Preserving the Unique Culture for a Bootstrapped Company
Ways to keep your company culture alive even when you're growing like gangbusters.
For many entrepreneurs, their companies are an extension of themselves. Founders, especially those who bootstrap, often start with a vision and then invest every waking hour–and every dollar–into building a company that answers a personal calling. For this reason, it’s common for a bootstrapped company to have a unique culture based on the founder’s vision and personality.
How to Build a Real Sales Team
How to get yourself out of day-to-day sales and bring in the pros
For many bootstrapped companies, the founder is the sales organization. This setup may work well in the early years, but to grow meaningfully, bootstrapped companies have to build out real sales teams, and founders need to get out of the day-to-day sales activities.We’ve seen many bootstrapped entrepreneurs head down this road and struggle. For those who successfully get out of day-to-day sales and get a real sales team in place, the reward is worth the risk and the investment of time.
Bootstrapped Marketing Tips
There's no longer any excuse for letting your marketing slide
As an entrepreneur running a bootstrapped company, marketing is not likely at the top of your to-do list. Bootstrapped companies are by definition lean, so founders don’t usually spend much on formal marketing. After all, great products sell themselves, so why bother? Unfortunately, if you’re not doing much marketing, you’re missing a huge opportunity to scale your business.
Marketing on a Bootstrapped Budget
Tools and Strategies you can Implement for Under $100 a month
Marketing is a particular challenge for companies funding their growth without outside capital, otherwise known as “bootstrapped” companies. By their nature, bootstrapped businesses are launched without a significant investment in marketing. They start with a great product, deliver the highest standard of service, and grow one paying customer at a time. But at some point, even the most successful bootstrapped businesses face slowing growth rates due to increased competition, saturation of their core customer base, or simply the law of large numbers kicking in.