Dragon's Den...
If you want to learn to sell better watch Dragon's Den (Shark Tank in the US)...
Now, you may see the entrepreneur as the salesperson in this context - presenting their business as an investible opportunity - but shift your thinking for a moment...
...the investors (dragons/sharks) are the salespeople.
Their solution is cash, expertise, experience & a vast network of contacts.
The entrepreneur comes in with a business they need help with.
They are the buyer, and their currency is an equity stake in their company.
Much like a prospect - they have to 'sell' you on the height of their ambition and the depth of their challenges - so you can work out if they're investible.
The entrepreneur will lay out the inspiration for their business, describing any successes, issues, limitations, growth & ambitions.
The investors then ask a series of questions to understand if it makes sense as a business opportunity.
They challenge the entrepreneur, ask for clarity, seek to understand and bring an objective point of view to their business...
- They're assertive, honest, knowledgeable and visionary.
- They give 100% of their undivided attention to the entrepreneur.
- They say it how it is.
- They don't mince their words.
- They're not scared to ask really tough questions.
- They listen intently to everything.
- They read between the lines.
- They admit when they're not sure.
- They tell the entrepreneur when they feel they're not a good fit.
- They are respectful.
Often this is a big reality check, and you can see the lightbulb moments as they get the entrepreneur thinking.
*This is what it means to challenge a prospect as a salesperson*
To get them thinking about things from a different perspective.
To shift their mindset and question any assumptions.
Sometimes the investors enter into a partnership with the entrepreneur.
Sometimes they do not.
Just like the salesperson - you aren't a fit for everyone.
There are only certain people & companies who are right for you at any given moment.
And just like an investor you need to work out if it's a match and actually worth your time, effort and resources to enter into a win/win partnership.
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