August 1, 2017 2:53pm
Sales Intensive Increases Startup Support
A basic principle EnterpriseCorp tries to ingrain into every entrepreneur is to listen to the needs and wants of their customers and to really understand their pain points. In this process of listening, the entrepreneur will find a problem that needs solving, which results in building products customers will actually buy. This is a process that should be done over and over again, at every stage of product design, redesign, marketing, and production to maximize success in every business.
EnterpriseCorp strives to live by the same principles we teach to startup founders. As we listen to our customer, the Entrepreneur, we continue to hear that there is a gap in assistance. Two major problems exist:
The first is a gap in the programs and assistance available to companies that are in the early stages of growth through exponential expansion. These companies are the ones that have prevailed through the idea stage and are actually commercializing. Often at this phase the Entrepreneur begins to look for investment. They need cash and mentorship to stay alive. Early stage “angel” investors would typically bring both.
Bringing us to the second problem and gap we hear from entrepreneurs – the lack in true angel investing happening in our community. EnterpriseCorp is taking this feedback and creating programs to solve the issues highlighted above.
This summer EnterpriseCorp piloted a program referred to as the Sales Intensive. Hand-picked startup companies that are ready to scale came in for a day of structured, in-depth conversation around sales and their sales process. The program allows entrepreneurs to get out of their daily grind and ‘work on’ their business instead of ‘working in’ their business.
The day is led by experienced mentors to identify bottlenecks, areas for improvement, and to challenge companies to make sales more important than product. There is follow-up and accountability with the EnterpriseCorp staff to make sure these discoveries are acted upon. The desired outcome is that companies start selling sooner, even before the product is complete in some cases, giving the company early revenue and lessening the need for the angel investment. It also makes the companies more attractive to investors because the business concept and market is considerably more proven when the company has paying customers.
As an investor in GLI, why does this matter to you?
Your investment into GLI and EnterpriseCorp not only designs programs to increase the likelihood of startup success, it has a direct impact on our economy. Startups immediately use any revenue or investment to hire employees, buy inventory, and finish out their product. That is money that goes straight back into the community. Don’t stop at just your monetary investment into GLI, get involved! Become an early customer/partner of a startup or use your experience to coach and mentor. We help companies with a lot more than just sales!
If you are interested in getting involved, send me an email.