Far too often I hear start up entrepreneurs or solopreneurs complain that they don’t have enough capital to build to their business.
It may be because it sometimes takes a certain amount of money to build brand awareness in mainstream media, social media and Google. I agree, it is difficult with hardly any money to spend on marketing. However, there does remain one common denominator and that’s the ability to sell.
With digital marketing becoming such a predominant way of building business, the skill of sales has become even more important to master. It is impossible to solely digitalise your way to a scalable business, picking up the phone or meeting in person with potential customers, partners or advisors is necessary.
Every start up I’ve ever built or helped build has been based on training the business owner to sell their way to profitability, with paid marketing playing the role of enhancing their ability to sell later on. If you’re currently thinking about, or have started building a new business, read on.
Below I have outlined 3 key sales strategies that will give you a clear reason as to why a marketing budget is not necessary early on in your business.
Creating reliable and effective strategic partnerships with other businesses who have the same audience that you want to target in a non-competitive industry is key. This is the ability to sell another business owner on the idea of developing a mutually beneficial relationship where one another benefits from each other.
An example of a strategic partnership could be between a nutritionist and a personal trainer, same audience, non competitive industry. They may have a joint package where a client could gain a nutritionist and personal trainer for 6 weeks, both business owners can just split the earnings 50/50.
The key is not to over think who you should speak to or to wait for the right time. Get out there, call, email, LinkedIn, Facebook do what ever it takes to find someone that you can collaborate with.
Everyone has what’s called a Powerbase. A powerbase consists of the people you already know, people that maybe friends, acquintances, family members, past colleagues or past clients etc. It is essential that any start up business owner is in contact with everyone in their powerbase once a month.
All these people must know what you do and what you plan to do. The aim with the powerbase is not to sell to them straight out, them aim is to let them know what you’re doing. What you’ll find is the majority will want to buy from you if your business fulfils their needs, because they trust you.
3. Cold Calling
Ok, before you say “Come on Jordan, cold calling? That’s too confronting!” I understand where you’re coming from however in a world full of digital marketers these days, good cold callers are few and far between. Master this art of cold calling and then there are no limits to how you grow your business.
When I started my first ever business in personal training no body knew who I was so it was my duty to ensure this changed, the quickest and best way was the phone. On the phone you’re so much more in control than any other platform, so provided you dissolve the fears of rejection and being told no you’ll be fine!
In summary if you have no marketing budget, leverage your ability to:
– Create partnerships!
– Call your powerbase
– Cold call prospects
Have you started a business with little to no marketing budget? Share with us in the comments.