Payment Technology
New processes boost sales and build a foundation for growth
The Challenge
The founders of an innovative payment technology start-up were running in circles trying to make their first few sales. The entrepreneurs (software engineers) had secured initial seed funding but lacking any sales or business experience, they miscalculated how difficult it would be to convert cities and parking authorities to a cashless parking payment system. They learned that having breakthrough technology and a great idea doesn't ensure sales success. They had to build a scalable sales process from the ground up. The 200% Company was hired to establish a formal sales process and jump-start growth.
The Solution
We knew our client needed to establish a sales process to get their innovative product to market. But they also needed to create an environment in which a salesperson could succeed. We helped the founders understand the importance of building a sales engine and what it means to support a growth culture. We implemented our proprietary sales model and schooled the founders in sales fundamentals, such as how to implement a disciplined process of prospecting, selling and forecasting, and how to manage a sales function. Our sales build-out included:
- Assistance with screening, interviewing, hiring and training of new sales staff
- Development of sales messaging, presentations and proposals
- Training on the B2B buying process and navigating complex organizational decision-making
- Establishing activity targets and sales performance goals; implementing KPIs and a sales dashboard
The 200% Result
We successfully converted the founders into sales process enthusiasts. They fully embraced the importance of a vigorous sales program and willingly invested in a sales expansion to fuel their future growth. Their first full-time sales person helped expand the company's sales efforts, eventually making their cashless parking payment systems a widely adopted technology and industry standard.