How to Sell by Tyler Bosmeny

Y Combinator

Y Combinator

52 min, 33 sec

A comprehensive walkthrough on sales strategies for startups, covering the journey from prospecting to closing deals.

Summary

  • The speaker discusses the importance of founders mastering sales and the necessary steps for successful sales strategies.
  • Prospecting involves finding leads using methods like networking, conferences, and cold emails.
  • Conversations should be focused on listening to understand customer needs, which is the core of sales.
  • Closing deals includes navigating contract negotiations, avoiding certain traps like free trials, and ensuring commitment.
  • The type of sales motion and pricing strategy must align with the startup's product and intended customer base.

Chapter 1

Introduction to Startup School

0:00 - 1 min, 6 sec

Introduction to the current week of startup school, highlighting the importance of lectures and the mid-point feedback form.

Introduction to the current week of startup school, highlighting the importance of lectures and the mid-point feedback form.

  • We are at the midpoint of startup school, a critical time for founders.
  • There's an anticipation for talks by Tyler from Clever on sales and Harsh and Amin from Triplebyte on building engineering organizations.
  • The speaker emphasizes the value of feedback for the startup school program.

Chapter 2

The Essence of Metrics and Updates

1:05 - 1 min, 8 sec

The importance of selecting meaningful metrics and providing authentic updates to measure progress.

The importance of selecting meaningful metrics and providing authentic updates to measure progress.

  • Founders should think critically about the metrics they use to track progress.
  • It's advised to avoid vanity metrics that don't measure the true road to success.
  • Updates should be honest reflections of milestones towards the startup's goals.

Chapter 3

Introduction of Guest Speaker Tyler

2:13 - 28 sec

Introduction of Tyler Bosmeny, CEO of Clever, who will share insights on sales.

Introduction of Tyler Bosmeny, CEO of Clever, who will share insights on sales.

  • Tyler Bosmeny is introduced as the CEO of Clever, which is utilized by over half the schools in America.
  • He is set to discuss the significance of mastering sales as a founder.

Chapter 4

Tyler's Personal Journey to Sales

2:41 - 1 min, 44 sec

Tyler Bosmeny recounts his unexpected path to becoming proficient in sales.

Tyler Bosmeny recounts his unexpected path to becoming proficient in sales.

  • Tyler shares his background in math and statistics, and his initial disinterest in sales.
  • He describes his first experience with sales while working on a college newspaper and later joining a startup.
  • Tyler emphasizes the unexpected fulfillment found in the sales process and its importance.

Chapter 5

Demystifying Sales and the Founder's Role

4:25 - 5 min, 15 sec

Tyler discusses the reality of sales being a core responsibility for founders.

Tyler discusses the reality of sales being a core responsibility for founders.

  • The common misconception of sales being only for charming individuals is dispelled.
  • Founders, with their passion and industry expertise, are uniquely positioned to be effective at sales.
  • Tyler highlights the importance of founders taking an active role in sales, especially in the early stages of their startups.

Chapter 6

Understanding the Sales Funnel

9:40 - 1 min, 45 sec

Tyler outlines the sales funnel, from prospecting to closing the deal.

Tyler outlines the sales funnel, from prospecting to closing the deal.

  • The sales funnel includes finding prospects, having conversations, closing deals, and generating revenue.
  • Prospecting requires reaching out to a significant number of potential leads to find interested buyers.
  • Tyler shares the importance of persistence and following up throughout the sales process.

Chapter 7

Prospecting: Finding Prospects and Initiating Conversations

11:25 - 10 min, 48 sec

Discussing methods for identifying prospects and starting conversations.

Discussing methods for identifying prospects and starting conversations.

  • Prospecting methods include using personal networks, attending conferences, and sending cold emails.
  • Tyler highlights the effectiveness of conferences in meeting potential customers and encourages thorough preparation.
  • Cold emails should be concise, personalized, and aim to initiate a conversation.

Chapter 8

The Art of Conversations and Listening in Sales

22:13 - 1 min, 38 sec

Tyler emphasizes the importance of listening in sales conversations.

Tyler emphasizes the importance of listening in sales conversations.

  • Effective salespeople spend more time listening than talking during sales conversations.
  • Asking the right questions and genuinely understanding customer problems is key to successful sales.
  • Sales is about building relationships and providing solutions, not just pushing a product.

Chapter 9

Closing Deals and Avoiding Common Traps

23:50 - 16 min, 23 sec

Tips for successfully closing deals and navigating potential pitfalls.

Tips for successfully closing deals and navigating potential pitfalls.

  • Closing requires having a solid contract, managing negotiations efficiently, and being willing to compromise on non-critical terms.
  • Tyler advises against building features for one-off requests, offering free trials, and highlights the need for commitment.
  • Being persistent is key, but also knowing when to accept a 'no' can save time for other potential deals.

Chapter 10

Final Thoughts on Sales Strategies

40:14 - 12 min, 7 sec

Final insights on sales strategies and hiring the right salespeople.

Final insights on sales strategies and hiring the right salespeople.

  • Founders should consider the long-term sales motion and pricing model for their startups.
  • The type of salesperson to hire (Renaissance vs. coin-operated) corresponds to the stage of the startup's journey.
  • Tyler concludes by encouraging founders to enjoy the process and wishes them good luck.

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