1 00:00:01,740 --> 00:00:07,610 foreign 2 00:00:03,379 --> 00:00:07,610 [Music] 3 00:00:10,218 --> 00:00:15,419 School my name is Gustav and I'm a group 4 00:00:13,320 --> 00:00:16,618 partner here at y combinator today I'm 5 00:00:15,419 --> 00:00:18,600 going to talk about how to go from 6 00:00:16,618 --> 00:00:20,698 talking to users 7 00:00:18,600 --> 00:00:22,920 getting your first customers here's what 8 00:00:20,699 --> 00:00:24,900 I plan to cover today one what does it 9 00:00:22,920 --> 00:00:27,359 mean to do things that don't scale and 10 00:00:24,899 --> 00:00:30,000 why is this mindset so so important at 11 00:00:27,359 --> 00:00:32,219 this stage of your company two how to do 12 00:00:30,000 --> 00:00:34,019 sales I'll make the argument the founder 13 00:00:32,219 --> 00:00:35,579 should be the ones doing sales in the 14 00:00:34,020 --> 00:00:37,739 beginning then we'll cover some sales 15 00:00:35,579 --> 00:00:39,780 funnel information and then why is it so 16 00:00:37,738 --> 00:00:41,519 important to charge for your product and 17 00:00:39,780 --> 00:00:43,320 finally we'll learn how you work your 18 00:00:41,520 --> 00:00:45,420 way backwards from your goals and why 19 00:00:43,320 --> 00:00:47,640 that's important I hope you've read this 20 00:00:45,420 --> 00:00:49,920 article or this essay the most important 21 00:00:47,640 --> 00:00:52,140 essay ever written about the very early 22 00:00:49,920 --> 00:00:54,539 stage of startups is do things that 23 00:00:52,140 --> 00:00:56,520 don't scale by Paul Graham Paul is the 24 00:00:54,539 --> 00:00:58,439 co-founder of Y commner he published 25 00:00:56,520 --> 00:01:00,719 this essay about the early days of 26 00:00:58,439 --> 00:01:03,358 Airbnb Airbnb is perhaps the best 27 00:01:00,719 --> 00:01:05,219 example of a successful YC company who 28 00:01:03,359 --> 00:01:07,379 got their feet off the ground this way 29 00:01:05,219 --> 00:01:09,739 many Founders who never worked for a 30 00:01:07,379 --> 00:01:12,719 startup or an early stage company 31 00:01:09,739 --> 00:01:14,759 incorrectly believe that all you need to 32 00:01:12,719 --> 00:01:16,920 succeed is a good product and growth 33 00:01:14,760 --> 00:01:19,560 will take care of itself this is not the 34 00:01:16,920 --> 00:01:22,200 case the truth is that good product is 35 00:01:19,560 --> 00:01:23,939 very rarely built in isolation but 36 00:01:22,200 --> 00:01:26,100 together with your customers and as a 37 00:01:23,938 --> 00:01:28,079 result it's not actually that good when 38 00:01:26,099 --> 00:01:29,459 you show it to your first customers set 39 00:01:28,079 --> 00:01:31,560 this another way 40 00:01:29,459 --> 00:01:33,899 startups don't take off by themselves 41 00:01:31,560 --> 00:01:35,879 startup takes off because Founders make 42 00:01:33,900 --> 00:01:37,859 them take off and you have to manually 43 00:01:35,879 --> 00:01:39,539 recruit your customers it's not enough 44 00:01:37,859 --> 00:01:41,340 to push a button on an advertising 45 00:01:39,540 --> 00:01:43,920 Network this is uncomfortable and 46 00:01:41,340 --> 00:01:46,320 Founders continuously find many ways to 47 00:01:43,920 --> 00:01:48,299 avoid doing this the most common way is 48 00:01:46,319 --> 00:01:50,459 believing that you can recruit people by 49 00:01:48,299 --> 00:01:52,799 just writing more code or doing more 50 00:01:50,459 --> 00:01:54,419 work on your machine or your robot or 51 00:01:52,799 --> 00:01:56,220 whatever you're building I know this 52 00:01:54,420 --> 00:01:58,320 from my experience of YC that this 53 00:01:56,219 --> 00:02:00,000 actually don't work so why am I talking 54 00:01:58,319 --> 00:02:03,059 about this right now learning the 55 00:02:00,000 --> 00:02:06,599 tactics of sales is just one side of 56 00:02:03,060 --> 00:02:09,118 this uh of of this learning the most 57 00:02:06,599 --> 00:02:11,759 important side is just really realizing 58 00:02:09,118 --> 00:02:13,560 that it comes down to you it's not just 59 00:02:11,759 --> 00:02:15,598 knowing exactly how to do sales in 60 00:02:13,560 --> 00:02:17,280 theory but actually doing it and 61 00:02:15,598 --> 00:02:19,560 actually wanting to succeed another 62 00:02:17,280 --> 00:02:21,360 great visualization is what's called a 63 00:02:19,560 --> 00:02:23,400 startup curve this was initially drawn 64 00:02:21,360 --> 00:02:25,319 by YC found program and then labeled by 65 00:02:23,400 --> 00:02:27,719 Trevor Blackwell and you've probably 66 00:02:25,318 --> 00:02:30,179 seen this curve before most companies go 67 00:02:27,719 --> 00:02:32,340 through something like this it's kind of 68 00:02:30,180 --> 00:02:35,340 like a timeline for startups here's how 69 00:02:32,340 --> 00:02:37,439 it goes first you launch these days most 70 00:02:35,340 --> 00:02:39,060 companies don't launch on TechCrunch but 71 00:02:37,439 --> 00:02:41,098 probably on product hunt or Hacker News 72 00:02:39,060 --> 00:02:42,719 or some other internet board the launch 73 00:02:41,098 --> 00:02:45,419 energy that you get from this launch 74 00:02:42,719 --> 00:02:46,859 eventually starts wearing off as early 75 00:02:45,419 --> 00:02:48,780 adopters are looking out for something 76 00:02:46,860 --> 00:02:51,900 new if you don't have instant High 77 00:02:48,780 --> 00:02:53,459 retention nobody does for what you are 78 00:02:51,900 --> 00:02:56,159 building then you'll enter the through 79 00:02:53,459 --> 00:02:57,840 of Sorrow this can take a long time and 80 00:02:56,159 --> 00:03:00,659 many companies die during this stage 81 00:02:57,840 --> 00:03:02,700 they just give up and don't move fast 82 00:03:00,659 --> 00:03:05,039 enough with testing new things some 83 00:03:02,699 --> 00:03:06,479 startups do move fast enough and release 84 00:03:05,039 --> 00:03:08,519 new improvements of their product 85 00:03:06,479 --> 00:03:10,619 they'll listen to users and they improve 86 00:03:08,519 --> 00:03:12,780 many still don't get anywhere further 87 00:03:10,620 --> 00:03:14,700 and becomes victims of the crash of 88 00:03:12,780 --> 00:03:17,098 ineptitude it's the founders to stay the 89 00:03:14,699 --> 00:03:18,899 course and don't give up that reaches 90 00:03:17,098 --> 00:03:20,459 the Wiggles of false hope and eventually 91 00:03:18,900 --> 00:03:21,900 the promised land of crack Market fit 92 00:03:20,459 --> 00:03:24,000 the learnings we draw from the start 93 00:03:21,900 --> 00:03:26,939 curve is that every moment in the early 94 00:03:24,000 --> 00:03:28,080 days of startups the founders are the 95 00:03:26,939 --> 00:03:30,539 ones that make the difference between 96 00:03:28,080 --> 00:03:31,739 success and failures if you are in the 97 00:03:30,539 --> 00:03:33,900 wrong Market 98 00:03:31,739 --> 00:03:35,400 it's the founders that switch to a new 99 00:03:33,900 --> 00:03:37,680 one and if you don't know how to do 100 00:03:35,400 --> 00:03:39,719 sales it's the founders who learn so you 101 00:03:37,680 --> 00:03:41,580 have to really want it otherwise this 102 00:03:39,719 --> 00:03:44,759 won't work all right let's talk about 103 00:03:41,580 --> 00:03:47,340 sales and how to do sales first Founders 104 00:03:44,759 --> 00:03:49,139 should learn how to do sales you should 105 00:03:47,340 --> 00:03:50,580 learn how to do sales because you'll 106 00:03:49,139 --> 00:03:52,679 need to learn to know your customer 107 00:03:50,580 --> 00:03:54,299 talking to customers and sales are 108 00:03:52,680 --> 00:03:56,700 effectively different sides of the same 109 00:03:54,299 --> 00:03:58,319 coin and the same reasons Founders can't 110 00:03:56,699 --> 00:03:59,939 understand what to build they don't 111 00:03:58,318 --> 00:04:02,098 understand what the problem is you don't 112 00:03:59,939 --> 00:04:04,500 know how to sell unless you know your 113 00:04:02,098 --> 00:04:07,139 customers two learning how to do sales 114 00:04:04,500 --> 00:04:09,180 actually gives you full control of your 115 00:04:07,139 --> 00:04:11,699 destiny as a startup just like you can't 116 00:04:09,180 --> 00:04:13,080 Outsource engineering sales has to be 117 00:04:11,699 --> 00:04:15,060 part of the DNA of the founders 118 00:04:13,080 --> 00:04:17,340 sometimes you just have to learn it as a 119 00:04:15,060 --> 00:04:19,139 result you should not hire a sales team 120 00:04:17,339 --> 00:04:22,078 until you know how to do sales yourself 121 00:04:19,139 --> 00:04:24,120 only then will you know what good looks 122 00:04:22,079 --> 00:04:26,579 like you also can't do sales if you 123 00:04:24,120 --> 00:04:28,439 practice bad and you won't know if the 124 00:04:26,579 --> 00:04:30,418 product is bad unless you've had some 125 00:04:28,439 --> 00:04:31,680 effort in trying to sell it first if you 126 00:04:30,418 --> 00:04:33,719 don't know how to sell don't worry you 127 00:04:31,680 --> 00:04:35,939 you can learn it's probably the easiest 128 00:04:33,720 --> 00:04:37,680 job to learn in startup if you know the 129 00:04:35,939 --> 00:04:40,319 problem you're solving if you know 130 00:04:37,680 --> 00:04:42,959 you're product intimately if you know 131 00:04:40,319 --> 00:04:45,120 the market you are an expert in the eyes 132 00:04:42,959 --> 00:04:47,939 of the customer they will want to hear 133 00:04:45,120 --> 00:04:49,800 what you have to say finally a love for 134 00:04:47,939 --> 00:04:52,439 solving customer problems is really 135 00:04:49,800 --> 00:04:54,180 infectious if you're really passionate 136 00:04:52,439 --> 00:04:55,740 about solving this problem they will be 137 00:04:54,180 --> 00:04:57,900 able to tell if you don't believe me 138 00:04:55,740 --> 00:05:00,060 here are some examples of Founders who 139 00:04:57,899 --> 00:05:02,219 took on the sales job and learned to get 140 00:05:00,060 --> 00:05:05,579 really good at it so Tony from doordash 141 00:05:02,220 --> 00:05:07,560 matild from front Tracy from plangrid 142 00:05:05,579 --> 00:05:09,180 and Steve Jobs let's get straight into 143 00:05:07,560 --> 00:05:11,519 an example so these are the brex 144 00:05:09,180 --> 00:05:14,579 founders Pedro and henrique when brex 145 00:05:11,519 --> 00:05:16,680 was in wycomner in Winter of 2017 they 146 00:05:14,579 --> 00:05:19,439 recruit the first 10 customers directly 147 00:05:16,680 --> 00:05:21,000 from the YC batch June YC you have the 148 00:05:19,439 --> 00:05:22,978 benefit of being around other startups 149 00:05:21,000 --> 00:05:24,600 I.E potential customers the brex 150 00:05:22,978 --> 00:05:26,339 founders asked themselves what would the 151 00:05:24,600 --> 00:05:28,620 minimum product look like that they can 152 00:05:26,339 --> 00:05:30,538 build to be useful to other startups and 153 00:05:28,620 --> 00:05:32,459 then they went with strain straight into 154 00:05:30,538 --> 00:05:34,560 signing up those customers the first 155 00:05:32,459 --> 00:05:36,120 version was very very simple customers 156 00:05:34,560 --> 00:05:38,220 just had a virtual credit card and 157 00:05:36,120 --> 00:05:40,800 Enrique from brex actively onboarded 158 00:05:38,220 --> 00:05:42,000 everyone of the customers himself of 159 00:05:40,800 --> 00:05:44,939 course they could have waited until they 160 00:05:42,000 --> 00:05:46,978 had a full-blown product a website a 161 00:05:44,939 --> 00:05:48,478 Mobile app all of those things but they 162 00:05:46,978 --> 00:05:50,219 decided to get going when they have 163 00:05:48,478 --> 00:05:51,899 something that was really useful this is 164 00:05:50,220 --> 00:05:53,940 how their first physical card looked 165 00:05:51,899 --> 00:05:55,978 like this before they had this card they 166 00:05:53,939 --> 00:05:58,439 just had a virtual card Rex reached out 167 00:05:55,978 --> 00:05:59,879 to the their YC batch and otherwise the 168 00:05:58,439 --> 00:06:01,379 companies and this is the email that 169 00:05:59,879 --> 00:06:03,240 they sent I'm just going to read a brief 170 00:06:01,379 --> 00:06:05,699 portion of it hey guys we're opening up 171 00:06:03,240 --> 00:06:08,639 our beta for winter 17 batch friends 172 00:06:05,699 --> 00:06:10,020 with the 10 spots for beta users 10 spot 173 00:06:08,639 --> 00:06:11,819 this sounds like there's a limited spot 174 00:06:10,019 --> 00:06:13,379 so I should take actions brex is a 175 00:06:11,819 --> 00:06:15,538 corporate credit card focused on 176 00:06:13,379 --> 00:06:17,038 technology companies that's me perfect 177 00:06:15,538 --> 00:06:19,500 you're actually writing the email 178 00:06:17,038 --> 00:06:21,300 directly towards your customers we don't 179 00:06:19,500 --> 00:06:23,038 require a personal guarantee it can 180 00:06:21,300 --> 00:06:25,978 underwrite startups who just got started 181 00:06:23,038 --> 00:06:27,659 this was the value prop most other 182 00:06:25,978 --> 00:06:29,219 alternatives to brex did not have 183 00:06:27,660 --> 00:06:31,620 something like this so how much does it 184 00:06:29,220 --> 00:06:33,840 cost it's free the merchants are paying 185 00:06:31,620 --> 00:06:35,399 us so there's zero Annual fees this 186 00:06:33,839 --> 00:06:37,079 seems like a no-brainer I would argue 187 00:06:35,399 --> 00:06:39,599 that this email is probably a little bit 188 00:06:37,079 --> 00:06:41,939 too long but it did work so let's talk 189 00:06:39,600 --> 00:06:45,419 about how to write a great sales email 190 00:06:41,939 --> 00:06:47,339 so first it should be short Max 6 to 8 191 00:06:45,418 --> 00:06:48,779 sentences the brexit sample on the 192 00:06:47,339 --> 00:06:50,638 previous slide is probably too long it 193 00:06:48,779 --> 00:06:52,500 still worked but probably too long 194 00:06:50,639 --> 00:06:55,019 people don't have time to read long 195 00:06:52,500 --> 00:06:56,459 emails if you're coming out of Academia 196 00:06:55,019 --> 00:06:58,439 your culture is going to be very 197 00:06:56,459 --> 00:07:00,418 different you write very long emails but 198 00:06:58,439 --> 00:07:02,459 in the world of sales you want to get to 199 00:07:00,418 --> 00:07:04,139 the point and be brief as much as you 200 00:07:02,459 --> 00:07:07,079 can two you want to make sure you have 201 00:07:04,139 --> 00:07:09,840 clear language no jargon no buzzwords 202 00:07:07,079 --> 00:07:12,418 just say exactly what you do and how it 203 00:07:09,839 --> 00:07:14,099 works and then three address the problem 204 00:07:12,418 --> 00:07:16,680 that the potential customer is having 205 00:07:14,100 --> 00:07:18,900 four do not use any HTML formatting 206 00:07:16,680 --> 00:07:20,819 write your email in plain text only like 207 00:07:18,899 --> 00:07:22,258 you would written it to a friend say you 208 00:07:20,819 --> 00:07:24,300 are the founder of the company who makes 209 00:07:22,259 --> 00:07:27,180 this product many people forget to do 210 00:07:24,300 --> 00:07:29,220 this describe why you and your team are 211 00:07:27,180 --> 00:07:31,199 impressive include social proof and 212 00:07:29,220 --> 00:07:33,120 remember to show not tell don't say 213 00:07:31,199 --> 00:07:35,280 you're an expert don't say how many 214 00:07:33,120 --> 00:07:37,259 years that you have been an expert if 215 00:07:35,279 --> 00:07:38,879 you're in the YC match if you worked at 216 00:07:37,259 --> 00:07:40,919 impressive companies in the past those 217 00:07:38,879 --> 00:07:42,418 are other piece of social proof that you 218 00:07:40,918 --> 00:07:45,719 can include you won't include a couple 219 00:07:42,418 --> 00:07:47,219 of these ones so that the reader knows 220 00:07:45,720 --> 00:07:49,860 the source and even if they don't know 221 00:07:47,220 --> 00:07:51,660 you gives assign you some authority six 222 00:07:49,860 --> 00:07:53,819 you want to include a link to your 223 00:07:51,660 --> 00:07:56,220 website the website needs to be simple 224 00:07:53,819 --> 00:07:58,560 you have to have information about the 225 00:07:56,220 --> 00:08:01,139 product the website should not have a 226 00:07:58,560 --> 00:08:02,759 lot of drawings or sort of like paid for 227 00:08:01,139 --> 00:08:04,740 graphics you should just have 228 00:08:02,759 --> 00:08:06,660 screenshots from your product and 229 00:08:04,740 --> 00:08:08,519 bullets about what your product does 230 00:08:06,660 --> 00:08:10,139 sometimes it works to send a short video 231 00:08:08,519 --> 00:08:11,818 a YouTube video that you can embed in 232 00:08:10,139 --> 00:08:14,579 the email that's very easy for the 233 00:08:11,819 --> 00:08:16,560 receiver to click on and View and I've 234 00:08:14,579 --> 00:08:18,240 even seen people using gifs now those 235 00:08:16,560 --> 00:08:20,220 videos and those gifs needs to get to 236 00:08:18,240 --> 00:08:22,139 the point right away because the the 237 00:08:20,220 --> 00:08:23,699 receiver is kind of intimately familiar 238 00:08:22,139 --> 00:08:25,740 with the problem but not really have 239 00:08:23,699 --> 00:08:27,478 time to watch two or three or four 240 00:08:25,740 --> 00:08:29,639 minutes of a potential solution and then 241 00:08:27,478 --> 00:08:31,800 finally you want to include and ask for 242 00:08:29,639 --> 00:08:33,479 a call or a meeting or a self-serve 243 00:08:31,800 --> 00:08:35,759 whether whatever is appropriate for your 244 00:08:33,479 --> 00:08:37,440 company but there needs to be a call to 245 00:08:35,759 --> 00:08:38,580 action in the email that you're sending 246 00:08:37,440 --> 00:08:40,620 all right let's talk about the sales 247 00:08:38,580 --> 00:08:42,658 funnel the concept of sales funnels is 248 00:08:40,620 --> 00:08:44,639 really quite easy I think people get 249 00:08:42,658 --> 00:08:46,620 confused by the language the sales 250 00:08:44,639 --> 00:08:48,899 people are using so I try to simplify it 251 00:08:46,620 --> 00:08:51,060 here on the left hand side I call it the 252 00:08:48,899 --> 00:08:52,740 founder speak on the right hand side I 253 00:08:51,059 --> 00:08:54,479 call it the sales speak these are not 254 00:08:52,740 --> 00:08:57,539 going to be perfectly mapping but you 255 00:08:54,480 --> 00:08:59,399 get the idea so first you want to make a 256 00:08:57,539 --> 00:09:01,740 list of customers you plan to reach out 257 00:08:59,399 --> 00:09:03,419 to in sales it's called prospecting or 258 00:09:01,740 --> 00:09:04,980 lead generation we'll just call it make 259 00:09:03,419 --> 00:09:06,659 it the list and you can use Google 260 00:09:04,980 --> 00:09:08,759 spreadsheets or something like that to 261 00:09:06,659 --> 00:09:10,860 make this list then we want to send them 262 00:09:08,759 --> 00:09:12,120 an email or a LinkedIn message or add 263 00:09:10,860 --> 00:09:13,860 them on LinkedIn or whatever is the 264 00:09:12,120 --> 00:09:15,778 appropriate way to contact these people 265 00:09:13,860 --> 00:09:18,000 after that you want to schedule and run 266 00:09:15,778 --> 00:09:19,439 a demo or a meeting from that response 267 00:09:18,000 --> 00:09:21,360 to the email and then you want to talk 268 00:09:19,440 --> 00:09:22,860 pricing and then finally close them as a 269 00:09:21,360 --> 00:09:24,480 customer the last thing which you should 270 00:09:22,860 --> 00:09:26,339 not forget is after you've closed them 271 00:09:24,480 --> 00:09:28,080 you still need to onboard them to make 272 00:09:26,339 --> 00:09:30,240 sure that they start using your product 273 00:09:28,080 --> 00:09:31,740 if this is successful and you have good 274 00:09:30,240 --> 00:09:34,139 retention that could lead to long-term 275 00:09:31,740 --> 00:09:35,580 Revenue if you forget the last step then 276 00:09:34,139 --> 00:09:36,899 you will have lots of churn because 277 00:09:35,580 --> 00:09:38,399 people don't actually know how to use 278 00:09:36,899 --> 00:09:40,139 your product and this is common with 279 00:09:38,399 --> 00:09:42,600 early products because they are not easy 280 00:09:40,139 --> 00:09:43,620 to onboard in the beginning this is not 281 00:09:42,600 --> 00:09:45,959 something you spend a lot of time 282 00:09:43,620 --> 00:09:47,879 optimizing so make sure that you do the 283 00:09:45,958 --> 00:09:49,319 onboarding as part of this process if 284 00:09:47,879 --> 00:09:51,059 you go back to the Google spreadsheets 285 00:09:49,320 --> 00:09:52,680 that I'm that I'm making that I'm 286 00:09:51,059 --> 00:09:54,059 putting in all the information you 287 00:09:52,679 --> 00:09:56,219 should start simple but you should have 288 00:09:54,059 --> 00:09:59,278 some Columns of things that you're 289 00:09:56,220 --> 00:10:01,860 tracking so industry uh the company the 290 00:09:59,278 --> 00:10:03,838 title the name the email maybe the 291 00:10:01,860 --> 00:10:06,300 LinkedIn this could be enough to start 292 00:10:03,839 --> 00:10:09,000 with a lot of CRM software comes with 293 00:10:06,299 --> 00:10:10,979 these categories so these columns it's 294 00:10:09,000 --> 00:10:12,720 pretty good idea to kind of use a simple 295 00:10:10,980 --> 00:10:14,159 CRM software 296 00:10:12,720 --> 00:10:16,320 um to kind of accomplish the same goal 297 00:10:14,159 --> 00:10:18,719 but the key thing here is doing this 298 00:10:16,320 --> 00:10:20,879 work up front and I've seen a lot of YC 299 00:10:18,720 --> 00:10:22,740 Founders that when they are getting to a 300 00:10:20,879 --> 00:10:24,240 thousand of these they're like oh this 301 00:10:22,740 --> 00:10:26,278 is a very simple task I can actually 302 00:10:24,240 --> 00:10:28,560 Outsource this and I think that can work 303 00:10:26,278 --> 00:10:30,299 if you know exactly what it is you're 304 00:10:28,559 --> 00:10:31,739 Outsourcing storing all this information 305 00:10:30,299 --> 00:10:34,979 is going to be helpful for you in the 306 00:10:31,740 --> 00:10:37,320 future now I made my list I understand 307 00:10:34,980 --> 00:10:38,639 this the sales funnel so who should I be 308 00:10:37,320 --> 00:10:41,100 going after and how should I be 309 00:10:38,639 --> 00:10:42,659 prioritizing as I'm doing the Outreach 310 00:10:41,100 --> 00:10:44,459 here's my most important advice when it 311 00:10:42,659 --> 00:10:47,100 comes to sales your first customers 312 00:10:44,458 --> 00:10:49,259 should be your easiest this is not the 313 00:10:47,100 --> 00:10:51,240 time to bite off the hardest one 314 00:10:49,259 --> 00:10:53,100 focus on the easiest ones what I mean by 315 00:10:51,240 --> 00:10:55,919 that is you should try to do sales 316 00:10:53,100 --> 00:10:58,019 make the sales processes easy for you as 317 00:10:55,919 --> 00:11:00,360 you possibly can startups don't really 318 00:10:58,019 --> 00:11:02,339 have time to chase every lead there's a 319 00:11:00,360 --> 00:11:03,839 lot of leads out there you you don't 320 00:11:02,339 --> 00:11:06,240 have to pick all of them you really 321 00:11:03,839 --> 00:11:07,620 don't you're so early you can pick only 322 00:11:06,240 --> 00:11:09,299 the ones that are the most likely to 323 00:11:07,620 --> 00:11:11,940 close the best way to do this I have a 324 00:11:09,299 --> 00:11:13,379 big pipeline where that means a lot of 325 00:11:11,940 --> 00:11:15,360 people that you're emailing are 326 00:11:13,379 --> 00:11:16,559 potential customers and then as you're 327 00:11:15,360 --> 00:11:18,659 getting responses and you're getting to 328 00:11:16,559 --> 00:11:21,119 meetings start prioritizing those who 329 00:11:18,659 --> 00:11:23,278 are the most likely to close you can 330 00:11:21,120 --> 00:11:24,839 probably tell from their answers to your 331 00:11:23,278 --> 00:11:25,919 qualifying questions during the sales 332 00:11:24,839 --> 00:11:28,980 call 333 00:11:25,919 --> 00:11:31,379 avoid those who are moving slow and 334 00:11:28,980 --> 00:11:32,639 don't be afraid of letting customers go 335 00:11:31,379 --> 00:11:34,439 don't be afraid of letting customers go 336 00:11:32,639 --> 00:11:36,240 what I mean by that is that if someone 337 00:11:34,440 --> 00:11:37,920 is dragging you along two or three calls 338 00:11:36,240 --> 00:11:39,120 you can always be like it's been great 339 00:11:37,919 --> 00:11:41,458 getting to know you 340 00:11:39,120 --> 00:11:43,139 um and I've learned a lot but 341 00:11:41,458 --> 00:11:45,838 um we should talk again in six months 342 00:11:43,139 --> 00:11:48,059 that's totally fine to say two 343 00:11:45,839 --> 00:11:50,100 selling to people you know is going to 344 00:11:48,059 --> 00:11:51,599 be easy to selling to strangers so you 345 00:11:50,100 --> 00:11:55,200 should take advantage of your network 346 00:11:51,600 --> 00:11:57,420 three selling to startups is the easiest 347 00:11:55,200 --> 00:11:59,220 category and I've I've learned this On 348 00:11:57,419 --> 00:12:01,559 and On Again with YC company 349 00:11:59,220 --> 00:12:04,139 specifically the ones that sell software 350 00:12:01,559 --> 00:12:07,439 it just turns out that bigger companies 351 00:12:04,139 --> 00:12:09,240 have more bureaucracy more processes 352 00:12:07,440 --> 00:12:11,220 they even have a specific Department 353 00:12:09,240 --> 00:12:13,259 that is in charge of negotiating with 354 00:12:11,220 --> 00:12:14,639 you and that takes a long time and 355 00:12:13,259 --> 00:12:15,838 startups don't have any of these things 356 00:12:14,639 --> 00:12:17,519 because they don't have time to create 357 00:12:15,839 --> 00:12:18,360 these things but it's not a priority for 358 00:12:17,519 --> 00:12:19,980 them 359 00:12:18,360 --> 00:12:22,259 so startups have short decision-making 360 00:12:19,980 --> 00:12:24,240 lines you can often find that the 361 00:12:22,259 --> 00:12:25,759 decision maker right away as you do in 362 00:12:24,240 --> 00:12:28,919 the Outreach and you don't have to go 363 00:12:25,759 --> 00:12:30,600 through a difficult process that's why 364 00:12:28,919 --> 00:12:32,219 startups are easier and that's why we 365 00:12:30,600 --> 00:12:34,820 recommend most companies to sell to 366 00:12:32,220 --> 00:12:39,120 startups at least leads me to the fourth 367 00:12:34,820 --> 00:12:40,620 Point most people are not early adopters 368 00:12:39,120 --> 00:12:42,778 and I keep saying this to the white 369 00:12:40,620 --> 00:12:44,519 companies I work with all the time the 370 00:12:42,778 --> 00:12:47,278 reason you have to sell send hundreds of 371 00:12:44,519 --> 00:12:49,019 emails is not that most of those people 372 00:12:47,278 --> 00:12:50,939 get really upset and be like I can't 373 00:12:49,019 --> 00:12:52,379 believe you emailed me like I really 374 00:12:50,940 --> 00:12:53,700 love this alternative product by hate 375 00:12:52,379 --> 00:12:56,278 your product that's not what's going on 376 00:12:53,700 --> 00:12:59,399 most people they email are just be like 377 00:12:56,278 --> 00:13:01,078 archive they just don't care they're not 378 00:12:59,399 --> 00:13:03,179 going to try a new product that comes in 379 00:13:01,078 --> 00:13:04,859 through your LinkedIn or your email and 380 00:13:03,179 --> 00:13:06,359 they might not be the people that try a 381 00:13:04,860 --> 00:13:08,579 new product at all in their career 382 00:13:06,360 --> 00:13:09,600 that's most people some other people I 383 00:13:08,578 --> 00:13:11,879 remember being one of those people when 384 00:13:09,600 --> 00:13:13,320 I worked at Airbnb I would love when 385 00:13:11,879 --> 00:13:15,299 founders emailed me with new new 386 00:13:13,320 --> 00:13:17,579 products and I would be the one signing 387 00:13:15,299 --> 00:13:19,559 up for them so 388 00:13:17,578 --> 00:13:21,299 when I worked Airbnb and you were a 389 00:13:19,559 --> 00:13:23,518 startup email me was great I am an early 390 00:13:21,299 --> 00:13:26,278 adopter I love trying new things I don't 391 00:13:23,519 --> 00:13:28,379 mind the risk of trying new things so 392 00:13:26,278 --> 00:13:30,539 for every outbound uh to an average 393 00:13:28,379 --> 00:13:32,578 company that you send you will mostly 394 00:13:30,539 --> 00:13:35,039 like most likely on the average outbound 395 00:13:32,578 --> 00:13:37,319 average email average LinkedIn reach 396 00:13:35,039 --> 00:13:38,819 someone who is not an early adopter to 397 00:13:37,320 --> 00:13:41,579 reach early adopters you just have to 398 00:13:38,820 --> 00:13:43,560 send more out by messages because then 399 00:13:41,578 --> 00:13:45,899 you don't have time to convince anybody 400 00:13:43,559 --> 00:13:47,458 to become an early adopter you have to 401 00:13:45,899 --> 00:13:49,139 find Aero adopters and just go for them 402 00:13:47,458 --> 00:13:50,278 early on don't worry about everybody 403 00:13:49,139 --> 00:13:51,720 else you just don't have time to 404 00:13:50,278 --> 00:13:54,778 convince them let's talk about charging 405 00:13:51,720 --> 00:13:56,639 it's attractive for you as a founder and 406 00:13:54,778 --> 00:13:59,519 for your company to offer your product 407 00:13:56,639 --> 00:14:02,700 for free offer free trials or unpaid 408 00:13:59,519 --> 00:14:05,459 pilots and these things come in many 409 00:14:02,700 --> 00:14:08,100 shapes and forms however if you don't 410 00:14:05,458 --> 00:14:10,039 charge your customers they are not a 411 00:14:08,100 --> 00:14:13,200 customer and you don't have a company 412 00:14:10,039 --> 00:14:15,000 customers paying you money is a great 413 00:14:13,200 --> 00:14:15,839 sign that you're providing them real 414 00:14:15,000 --> 00:14:18,000 value 415 00:14:15,839 --> 00:14:20,160 so you should resist the fear of getting 416 00:14:18,000 --> 00:14:21,899 a no because of price 417 00:14:20,159 --> 00:14:24,719 instead of figuring out what the price 418 00:14:21,899 --> 00:14:26,159 should be if they don't want to pay and 419 00:14:24,720 --> 00:14:28,259 you learn this during the qualification 420 00:14:26,159 --> 00:14:29,159 process in the first call or the first 421 00:14:28,259 --> 00:14:31,679 meeting 422 00:14:29,159 --> 00:14:34,259 if they don't want to pay that's a great 423 00:14:31,679 --> 00:14:35,458 sign that you should move on to the next 424 00:14:34,259 --> 00:14:37,379 customer 425 00:14:35,458 --> 00:14:39,299 again fire the ones who seem like 426 00:14:37,379 --> 00:14:40,740 they're not good fit move on to the next 427 00:14:39,299 --> 00:14:43,799 customers 428 00:14:40,740 --> 00:14:46,079 free trials are common for consumers but 429 00:14:43,799 --> 00:14:48,000 if you thought about it most consumer 430 00:14:46,078 --> 00:14:50,338 free trials ask for the credit card up 431 00:14:48,000 --> 00:14:51,299 front and then we forget and then we pay 432 00:14:50,339 --> 00:14:53,399 anyway 433 00:14:51,299 --> 00:14:55,679 that's because that actually works the 434 00:14:53,399 --> 00:14:58,139 best the bdb version of this 435 00:14:55,679 --> 00:15:01,559 is a better one than a free trial is a 436 00:14:58,139 --> 00:15:03,600 money back guarantee so we charge you if 437 00:15:01,559 --> 00:15:05,939 you're not happy you can get the money 438 00:15:03,600 --> 00:15:07,440 back in 30 days so 60 days 439 00:15:05,940 --> 00:15:09,000 um or even better you have the ability 440 00:15:07,440 --> 00:15:10,620 to opt out from the annual contract you 441 00:15:09,000 --> 00:15:13,019 just pay for one month instead of the 442 00:15:10,620 --> 00:15:15,120 annual fee but you should not offer free 443 00:15:13,019 --> 00:15:17,159 trials in B2B sales go for a money back 444 00:15:15,120 --> 00:15:20,100 guarantee and go for the ability to opt 445 00:15:17,159 --> 00:15:22,319 out instead increasing your price until 446 00:15:20,100 --> 00:15:24,420 your customers are complaining but still 447 00:15:22,320 --> 00:15:27,120 paying is the right way to go all right 448 00:15:24,419 --> 00:15:28,439 let's talk about the thing that most 449 00:15:27,120 --> 00:15:29,339 Founders get wrong I've seen as many 450 00:15:28,440 --> 00:15:30,959 times but there are a few things that 451 00:15:29,339 --> 00:15:33,779 most wanted to get wrong and this is one 452 00:15:30,958 --> 00:15:35,879 of them working backwards from your goal 453 00:15:33,778 --> 00:15:38,039 with your sales funnel in order to work 454 00:15:35,879 --> 00:15:39,958 your way backwards from a goal of say 455 00:15:38,039 --> 00:15:42,179 two signed customers you have to 456 00:15:39,958 --> 00:15:44,879 understand that each step in the sales 457 00:15:42,179 --> 00:15:46,739 funnel is going to have a drop-off when 458 00:15:44,879 --> 00:15:49,139 you haven't started sales yet you don't 459 00:15:46,740 --> 00:15:50,879 know what these draft off percentages 460 00:15:49,139 --> 00:15:52,500 are maybe you haven't done a lot of 461 00:15:50,879 --> 00:15:54,179 sales before you don't know what you're 462 00:15:52,500 --> 00:15:55,679 not good at maybe you're really good at 463 00:15:54,179 --> 00:15:58,679 sending emails but really bad at closing 464 00:15:55,679 --> 00:16:01,138 or vice versa you don't know that so as 465 00:15:58,679 --> 00:16:03,599 you're sending these outbound emails you 466 00:16:01,139 --> 00:16:05,579 need to take notes and start tracking 467 00:16:03,600 --> 00:16:08,159 all of these conversions in this example 468 00:16:05,578 --> 00:16:10,739 I'm sending 500 Outreach emails or 469 00:16:08,159 --> 00:16:13,319 LinkedIn messages I have a 50 open rate 470 00:16:10,740 --> 00:16:15,299 that means 250 people will open the 471 00:16:13,320 --> 00:16:18,240 email five percent will respond that's 472 00:16:15,299 --> 00:16:20,399 about 20 potential customers 50 of those 473 00:16:18,240 --> 00:16:22,680 will convert to demo from the response 474 00:16:20,399 --> 00:16:24,360 which means I'm doing 10 demos that's 475 00:16:22,679 --> 00:16:26,458 pretty good but I'm not that good at 476 00:16:24,360 --> 00:16:29,940 doing demos only two end up becoming 477 00:16:26,458 --> 00:16:31,138 customers from the demos that's 20 I bet 478 00:16:29,940 --> 00:16:33,120 you most of you don't even track this 479 00:16:31,139 --> 00:16:35,879 data but you should if you track this 480 00:16:33,120 --> 00:16:37,320 data you will have some idea of how long 481 00:16:35,879 --> 00:16:39,000 it will take to get to 10 paying 482 00:16:37,320 --> 00:16:40,079 customers if you don't track this it's 483 00:16:39,000 --> 00:16:41,458 very hard for someone to give you 484 00:16:40,078 --> 00:16:43,679 feedback of what's working and not 485 00:16:41,458 --> 00:16:45,000 working right it's just like when you're 486 00:16:43,679 --> 00:16:47,338 launching a new product you want to have 487 00:16:45,000 --> 00:16:49,019 some metrics and some user data to be 488 00:16:47,339 --> 00:16:50,579 able to tell if it's working when you're 489 00:16:49,019 --> 00:16:52,320 doing sales you want to have this data 490 00:16:50,578 --> 00:16:53,698 if you have this data people will be 491 00:16:52,320 --> 00:16:54,899 able to give you feedback on what what 492 00:16:53,698 --> 00:16:57,179 you're good at and what you need to get 493 00:16:54,899 --> 00:16:59,399 get better at my advice is to use a 494 00:16:57,179 --> 00:17:00,958 simple sales CRM software that tracks 495 00:16:59,399 --> 00:17:02,639 these conversion rates automatically 496 00:17:00,958 --> 00:17:04,318 let's look at the same second example 497 00:17:02,639 --> 00:17:06,000 this is how it looks like for most 498 00:17:04,318 --> 00:17:07,619 startups even the ones that I work with 499 00:17:06,000 --> 00:17:09,779 in the batch in the second example I'm 500 00:17:07,619 --> 00:17:11,578 sending 100 Outreach email it feels like 501 00:17:09,779 --> 00:17:13,439 a lot to me if I keep the conversion 502 00:17:11,578 --> 00:17:15,240 rates constant from the previous example 503 00:17:13,439 --> 00:17:16,798 I actually end up with zero customers 504 00:17:15,240 --> 00:17:19,380 and the conclusion the founders draw 505 00:17:16,798 --> 00:17:21,359 after this is that sales is not working 506 00:17:19,380 --> 00:17:23,100 for me and I should just do marketing or 507 00:17:21,359 --> 00:17:24,659 SEO or something else or referrals or 508 00:17:23,099 --> 00:17:26,458 something that sounds attractive this is 509 00:17:24,660 --> 00:17:28,140 simply wrong you don't have the data to 510 00:17:26,459 --> 00:17:30,360 make that call you did not do enough 511 00:17:28,140 --> 00:17:32,400 Outreach to actually get to correct 512 00:17:30,359 --> 00:17:34,259 conversion rate percentages in your 513 00:17:32,400 --> 00:17:36,419 sales funnel so the answer here is you 514 00:17:34,259 --> 00:17:38,220 sent a few minutes too few emails you 515 00:17:36,419 --> 00:17:39,360 don't have the data you can't draw the 516 00:17:38,220 --> 00:17:41,038 conclusion that sales is not working 517 00:17:39,359 --> 00:17:43,439 even though you have serial customers 518 00:17:41,038 --> 00:17:45,298 and this is the mistake that funders do 519 00:17:43,440 --> 00:17:47,100 on and on and on again so to summarize 520 00:17:45,298 --> 00:17:49,259 what I just went through here you don't 521 00:17:47,099 --> 00:17:51,359 know your sales conversion rate that's 522 00:17:49,259 --> 00:17:54,000 why you need a CRM to keep track of it 523 00:17:51,359 --> 00:17:55,979 two because you don't know who is an 524 00:17:54,000 --> 00:17:58,140 early adopter you have a lot of drop off 525 00:17:55,980 --> 00:18:00,000 in the outbound sales that makes up on 526 00:17:58,140 --> 00:18:01,559 sales ultimately a numbers game and 527 00:18:00,000 --> 00:18:03,900 successful startups we like this and 528 00:18:01,558 --> 00:18:05,700 internalize this three you cannot close 529 00:18:03,900 --> 00:18:07,919 five customers from 10 leads it's not 530 00:18:05,700 --> 00:18:10,080 possible you need a lot more app on than 531 00:18:07,919 --> 00:18:11,759 that a lot more and unfortunately most 532 00:18:10,079 --> 00:18:14,038 finders don't work their way backwards 533 00:18:11,759 --> 00:18:16,079 from this sales funnel and they don't do 534 00:18:14,038 --> 00:18:18,000 this exercise and the result they don't 535 00:18:16,079 --> 00:18:20,399 succeed as sales and they don't really 536 00:18:18,000 --> 00:18:22,500 know why so a friend of mine from Airbnb 537 00:18:20,400 --> 00:18:24,480 Atlanta rashitzki he writes an excellent 538 00:18:22,500 --> 00:18:27,179 blog and he wrote a great blog post 539 00:18:24,480 --> 00:18:28,500 about how YC and a bunch of non-yc B2B 540 00:18:27,179 --> 00:18:31,259 startups 541 00:18:28,500 --> 00:18:32,940 um got their sales go to market strategy 542 00:18:31,259 --> 00:18:35,460 going I recommend reading this and other 543 00:18:32,940 --> 00:18:37,500 posts uh newsletter it's it's one of the 544 00:18:35,460 --> 00:18:39,840 best ones I've come across it has a lot 545 00:18:37,500 --> 00:18:41,640 of real data that he collected from real 546 00:18:39,839 --> 00:18:43,859 companies uh many of them being YC 547 00:18:41,640 --> 00:18:46,020 companies so in this example here in the 548 00:18:43,859 --> 00:18:47,819 second column Lenny is describing the 549 00:18:46,019 --> 00:18:49,558 initial sales motion of some of these 550 00:18:47,819 --> 00:18:52,259 companies as you can see some of the 551 00:18:49,558 --> 00:18:54,240 early ones like amplitude stripe front 552 00:18:52,259 --> 00:18:56,220 they were doing app on sales emails just 553 00:18:54,240 --> 00:18:57,960 like the one we described to get started 554 00:18:56,220 --> 00:18:59,700 those Founders were doing those sales 555 00:18:57,960 --> 00:19:01,140 emails as they get started some of the 556 00:18:59,700 --> 00:19:03,000 other ones was called Product LED 557 00:19:01,140 --> 00:19:05,160 product LED could mean something else 558 00:19:03,000 --> 00:19:07,859 than just doing up on sales but it 559 00:19:05,160 --> 00:19:09,900 doesn't mean having a big sales team and 560 00:19:07,859 --> 00:19:12,000 it usually does not mean doing marketing 561 00:19:09,900 --> 00:19:13,980 or SEO or something else practically it 562 00:19:12,000 --> 00:19:16,200 means something that the product itself 563 00:19:13,980 --> 00:19:18,058 is is sort of like driving the growth as 564 00:19:16,200 --> 00:19:19,319 you're running the demo 565 00:19:18,058 --> 00:19:20,399 um your goal is to close your first 566 00:19:19,319 --> 00:19:22,379 customers 567 00:19:20,400 --> 00:19:24,059 you want to ask a lot of questions up 568 00:19:22,380 --> 00:19:25,620 front in the demos and there's the 569 00:19:24,058 --> 00:19:28,079 founders who should do the demos because 570 00:19:25,619 --> 00:19:30,058 you are the one knowing the product and 571 00:19:28,079 --> 00:19:33,599 you know the customer pain points here 572 00:19:30,058 --> 00:19:35,519 are three examples of YC emails that led 573 00:19:33,599 --> 00:19:37,619 to customers so I'll let you guys look 574 00:19:35,519 --> 00:19:39,599 at the details of these afterwards but 575 00:19:37,619 --> 00:19:42,899 this is an app on email that led to uh 576 00:19:39,599 --> 00:19:44,879 72 000 a year contract this one LED is a 577 00:19:42,900 --> 00:19:47,100 very specific email that led to out 578 00:19:44,880 --> 00:19:49,380 Landing a goalie as a customer and this 579 00:19:47,099 --> 00:19:50,939 third example here is the one email the 580 00:19:49,380 --> 00:19:52,799 same email they got them 22 different 581 00:19:50,940 --> 00:19:54,298 customers all right I'm going to 582 00:19:52,798 --> 00:19:55,798 summarize this again the biggest 583 00:19:54,298 --> 00:19:57,779 mistakes that most finders do is they 584 00:19:55,798 --> 00:19:59,099 don't do enough Outreach because they 585 00:19:57,779 --> 00:20:00,660 don't work package from the goal 586 00:19:59,099 --> 00:20:02,399 believing that something else then sales 587 00:20:00,660 --> 00:20:04,860 is going to solve your sales problem 588 00:20:02,400 --> 00:20:07,019 Outsourcing sales is wrong you should do 589 00:20:04,859 --> 00:20:08,639 it yourself and you need to qualify your 590 00:20:07,019 --> 00:20:10,259 customers during your first call here 591 00:20:08,640 --> 00:20:12,660 are some of the tools I recommend so 592 00:20:10,259 --> 00:20:14,940 there are many many many tools this is 593 00:20:12,660 --> 00:20:16,380 perhaps one of the biggest categories of 594 00:20:14,940 --> 00:20:18,860 potential things you could use as you're 595 00:20:16,380 --> 00:20:21,740 doing sales but I recommend apollo.io 596 00:20:18,859 --> 00:20:24,479 close.com formerly called closed.io 597 00:20:21,740 --> 00:20:26,220 pipedrive or hunter.io these are great 598 00:20:24,480 --> 00:20:28,798 tools that you can use either as a 599 00:20:26,220 --> 00:20:31,500 simple sales CRM or Hunter you can use 600 00:20:28,798 --> 00:20:33,179 to get contacts or potential people to 601 00:20:31,500 --> 00:20:34,500 email from LinkedIn here are two 602 00:20:33,179 --> 00:20:36,000 additional resources if some people ask 603 00:20:34,500 --> 00:20:37,619 me for books usually there aren't good 604 00:20:36,000 --> 00:20:38,759 books but there is actually one that I 605 00:20:37,619 --> 00:20:40,619 come across I find really good it's 606 00:20:38,759 --> 00:20:43,500 called founding sales and then I also 607 00:20:40,619 --> 00:20:44,879 recommend lineage newsletter.com there 608 00:20:43,500 --> 00:20:47,099 are of course other ways that you can 609 00:20:44,880 --> 00:20:49,740 grow as a startup but the truth that 610 00:20:47,099 --> 00:20:53,219 I've learned is that even if you end up 611 00:20:49,740 --> 00:20:56,419 with say like Airbnb where the sources 612 00:20:53,220 --> 00:21:00,480 of growth is Word of Mouth Google search 613 00:20:56,419 --> 00:21:02,580 referrals Facebook advertising if those 614 00:21:00,480 --> 00:21:05,099 are the kind of end states of your 615 00:21:02,579 --> 00:21:06,960 growth strategy that's not how ambica 616 00:21:05,099 --> 00:21:08,939 started they didn't start by running 617 00:21:06,960 --> 00:21:10,380 Google sem or Google SEO 618 00:21:08,940 --> 00:21:13,200 the referral program did not bring in 619 00:21:10,380 --> 00:21:15,240 the first 2000 customers they did things 620 00:21:13,200 --> 00:21:17,460 that didn't scale and they looked 621 00:21:15,240 --> 00:21:19,558 different than the one they do at scale 622 00:21:17,460 --> 00:21:21,179 so a lot of companies are shorting 623 00:21:19,558 --> 00:21:22,740 straight into What's called the scalable 624 00:21:21,179 --> 00:21:25,200 growth channels the channels that 625 00:21:22,740 --> 00:21:27,720 they've heard work which is true at 626 00:21:25,200 --> 00:21:30,058 scale but that's not the same thing as 627 00:21:27,720 --> 00:21:32,700 when you're getting started so in this 628 00:21:30,058 --> 00:21:35,158 slide I'm outlining kind of like just a 629 00:21:32,700 --> 00:21:37,259 rough idea of like even if it turns out 630 00:21:35,159 --> 00:21:38,880 the Google sem and Google SEO is what's 631 00:21:37,259 --> 00:21:40,798 going to work at scale you need to find 632 00:21:38,880 --> 00:21:42,000 another place online where these people 633 00:21:40,798 --> 00:21:44,460 that you're going to reach through sem 634 00:21:42,000 --> 00:21:46,558 and SEO is identifying themselves online 635 00:21:44,460 --> 00:21:49,259 right and that might not be the same as 636 00:21:46,558 --> 00:21:51,418 Google if you're trying to go after sem 637 00:21:49,259 --> 00:21:52,798 which means search engine marketing it's 638 00:21:51,419 --> 00:21:54,240 going to be expensive probably because 639 00:21:52,798 --> 00:21:56,279 there's competition if you're going 640 00:21:54,240 --> 00:21:59,700 after SEO it's going to take a long time 641 00:21:56,279 --> 00:22:02,460 if your growth is say proc LED or 642 00:21:59,700 --> 00:22:03,779 virality referrals then personal 643 00:22:02,460 --> 00:22:06,058 networks selling through your personal 644 00:22:03,779 --> 00:22:07,379 Network to your co-workers is the way to 645 00:22:06,058 --> 00:22:08,639 get started of course if you're doing 646 00:22:07,380 --> 00:22:10,320 sales you should be doing sales it 647 00:22:08,640 --> 00:22:13,380 doesn't change very much like early 648 00:22:10,319 --> 00:22:14,460 stage sales to to large sales basically 649 00:22:13,380 --> 00:22:15,539 means all the things that I just 650 00:22:14,460 --> 00:22:17,640 described here 651 00:22:15,538 --> 00:22:19,798 done by 100 people in a sales team with 652 00:22:17,640 --> 00:22:21,538 more automation more tools more metrics 653 00:22:19,798 --> 00:22:23,099 but it's the same thing and if you 654 00:22:21,538 --> 00:22:25,099 practice setup to do online marketing 655 00:22:23,099 --> 00:22:28,619 it's not usually how most people start 656 00:22:25,099 --> 00:22:32,038 why because you can't really easily talk 657 00:22:28,619 --> 00:22:33,359 to people you can't learn from users if 658 00:22:32,038 --> 00:22:34,500 the first thousand or first-handed 659 00:22:33,359 --> 00:22:36,479 customers are brought in through Google 660 00:22:34,500 --> 00:22:38,700 and Facebook those people are not the 661 00:22:36,480 --> 00:22:40,860 kind of people that you can easily get 662 00:22:38,700 --> 00:22:42,779 on a 30 minute phone call with all right 663 00:22:40,859 --> 00:22:44,899 that's all I had today thank you 664 00:22:42,779 --> 00:22:44,899 everyone 665 00:22:45,779 --> 00:22:55,230 foreign 666 00:22:47,089 --> 00:22:55,230 [Music]