my first month with a sales quota was September 2008 – not the best month for a 21-year-old to start his career cold-calling strangers and convincing them to buy $10,000 software. The economy was in freefall, businesses were downsizing nationwide, and all budgets were frozen.
Against all odds, I ended up doing well. Good enough to be the best seller in the world (out of nearly 1,000) and break the 10-year record for most sales in a single year. How? After working on Obama’s first presidential campaign from 2006 to 2008, I got a new perspective on how to sell. One that works regardless of whether we are in a bearish or bullish market.
There is a tremendous opportunity in times of recession to increase income. But first, you need to fundamentally change the way you approach sales.
In a downturn, money saved is worth even more than money earned.
Here are some quick tips for founders and vendors to help sustain SAAS revenue growth during these challenging times.
Adapt your sales pitch to the current market
When capital is cheap, growth is the primary metric that all executives and investors target. Over the past decade, capital has literally never been cheaper.
All that has changed, however. Businesses today cannot spend more than they earn. That means your old sales pitch of “We can help you grow faster than ever!” must change too. The new message that will resonate is: “Let’s make the most of your existing resources!”