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Let's recap what we've learned so far.

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Sales involves everything that you need to
do to convert potential customers into

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buying ones by getting an agreement or a
contract.

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There are a few different kinds of sales
types,

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each with their own process and strategy.

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There's B2B, or business to business
sales, B2C, business to consumer,

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B2G, business to government, and even
consumer to consumer, or C2C.

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In general, the sales process can be
broken down into the following steps.

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Prospecting or lead generation, where you
make the initial contact with

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a potential customer to build a set of
leads.

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A lead is a person who has indicated in
some way, interest in

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your company's product or service, most
often by providing contact information.

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Prospecting is a more immediate process
where you engage in

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activities that provide quicker results.

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Prospecting works better when you need to
fill up your sales pipeline to

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hit your quarterly goals.

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You need a more aggressive strategy.

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You want to focus your efforts on small,
identified niches of customers.

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And you aren't concerned with brand
awareness prior to engagement.

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It also works when you're comfortable
engaging directly with your customers and

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convincing them directly on your value
proposition.

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It does not matter if you have qualified
or warm leads to begin with.

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With lead generation on the other hand,

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you're primarily going to engage in
activities that inform the customer,

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increase brand awareness and position your
offering at the top of

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their minds when they are ready to engage
in the sales funnel.

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Lead generation works better when, you
want to build awareness of your product or

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service among your potential customer base
before you reach out to them directly.

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You're not in a rush to build leads, and
can invest time into

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activities that establish you as a thought
leader, and increase your brand awareness.

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You want to invest in a strategy that
builds a constant flow of leads.

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You want to engage with qualified leads
that are warmer.

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A qualified lead is someone who has both
indicated that they are interested in your

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product or service, and who has the
ability to make a purchasing decision.

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Once you have your leads, your next goal
is to qualify these leads.

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A qualified lead then is someone who is
not only interested, but

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has provided further information that
allows us to

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convert them to paying customers much
easier.

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Do they have a budget to make a purchase?

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Are they a decision maker in the
purchasing process?

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Do they have a need for your product or
service?

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And have they specified a time frame
during which they can make the purchase?

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During this stage you will get in touch
with the customer, not to make the sale,

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but to gather information about the
prospect that you can assess and

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analyze to get a better understanding of
their wants and needs.

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When you have qualified leads and a good
understanding of the customer's needs and

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wants, you can then make a presentation
based on the collection of information.

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This is where you sell your product.

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During the sales process you'll often come
across roadblocks.

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Your next step is to listen to customer
objections and

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respond to them without sounding defensive
or pushy.

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If you convince them to buy,

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you get a commitment from the prospect who
is now a buyer.

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Once you have made the sale,

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you follow up with the customer with
post-sales services and support.

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This is the sales process in a nutshell.

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Like entrepreneurship, sales is more of an
art.

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You can't have a memorized scripted sales
call and

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expect things to go your way all the time.

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What's most important, is your ability to
listen and

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to modify your sales presentation to
highlight aspects of your product or

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service that solves actual problems that
the customer has.