Day 70 in MIT Sloan Fellows Class 2023, Entrepreneurial Sales 5, Assessment
To understand companies' sales strategy and status, I will write down comprehensive lists of interview questions.
Understand numbers
Besides economics, we need to understand "where is a bottle neck"
- Potential lead
- Qualified lead to sales
- Demo/Trial
- Closing
- Repurchase
Which process would be the most problematic?
Identifying the pain point is one of the most important step
Understanding customers
- Who is the customer?
- Revenue and employee sizes?
- How many typical decision makers and how do they make decisions?
- How do they buy similar solution?
Economics
- CAC
- LTV(how much revenue per clients)
- Monthly deal volume(how many clients)
- Fixed cost
Product Complexity
- Ease of deployment
- Ease of adoption
- Customizability
- Necessity of integration with other systems
Sales complexity
- Sales Cycle Length (from lead to close. or break down)
- Contract length
- Messaging uniformity(Any customizable points in sales level)
- Necessity of service/consultation
Conclusion
Based on those information, sales strategy should be determined.
Which sales motion(PGL, Inside Sales, Field Sales, Partnership) you choose for which customers? Can you recoup CAC with your LTV? Which segment is your hot segment and which is not?
