How A Startup Can Kill It One Important Business Trip After Another
The startup world is fast-paced as well as competitive in every single niche. The large rewards in terms of financial success that many associate with starting a business that takes the world by storm is quite the motivator. Large corporations have large budgets to send their staff all over the world to entertain and sell to clients. Startups, for the most part, have small budgets making every business trip far more important. A few failed business trips can spell the end of a company if the startup splurged on these trips without closing any deals. No time should be wasted on a business trip as downtime is time that could be used to sell or entertain a prospective client. The following are tactics that will help a startup kill it consistently when they venture out on a business trip.
Set Goals For The Trip Plus Confirm Meeting Times
Setting specific goals and planning the trip according to these goals can be done by a business travel consultant. There are going to be those clients that you need to build rapport with as they are newer as well as maintain the relationship with long-term clients. There can be a goal of upselling these current customers so it can still be very beneficial to meet with them beyond improving/maintain the business relationship. The sales prospects should have detailed custom pitches so they feel like they will be valued if entering into a business agreement.
Each Night Should Be Spent Entertaining Clients/Prospects
Each night should not be spent in hotel rooms alone but rather taking clients out. There is a chance that a client is torn between your company and a competitor. If the quality of products/services, as well as prices, are similar the potential client is going to sign a contract with the people they like more personally. Going out for a nice dinner where business is discussed but is not the main topic can help build the personal rapport that can help close a deal. Even if it is not a dinner, a night on the town for younger sales prospects can do what dinner does for those that are a bit older/more reserved.
Do Not Fall Behind On Work You Would Have Done In The Office
Being able to keep up with production with the staff on the trip is a huge bonus. At times, when a founder or management goes out of town they fall behind on work as they are busy with other things. The office also falls behind without the motivation of managers looking over their shoulders. Set goals for the team that stays behind in terms of production as well as for the staff on the trip. Most staff members will be fine with this on the trip as long as they are taken care of with great meals as well as accommodations. With this being said, bonding on a business trip is an added bonus as spending time outside of the office can bring those on the trip closer which makes for a better working relationship.
Outreach To Those That Are In Town To Pitch In Person…Even If It Is A Cold Lead
A startup should have a very organized sales process that allows them to look at leads that have come from a specific city. Being able to pitch a company in person is very important as it is far more successful than pitching on the phone. Recontact these companies to see if they would have any time to meet or even meet over lunch. A hungry stomach can be the foot in the door a startup founder needs to close a deal. Try to set as many meetings as possible even if the lead seems to be cold as the business might not have needed the product/service at the initial time they were contacted.
Look Into Whether A Specific City Would Be A Good Place To Open A New Office
There is a chance that a startup is looking to open another location in a new city. Using free time during a trip to check out whether a city would be a good fit can be a very productive way to use time. Making appointments to check out a few spaces for the new location might not lead to anything. This can allow a startup to learn costs when compared to the quality of office/location. The talent in the area is also important as the company wants to hire local staff to keep the quality of the product/service consistent. A tech startup might opt for Austin, Texas instead of San Francisco as there is plenty of tech talent with a far lower cost of living/rent.
Startups that rely on business trips to close big deals need to be on the top of their game when embarking on these ventures. Bring only the best in terms of staff and make sure that everything is done to close that next big deal!