If Cash Is King, Then Sales Is Queen 2.0

Introduction: Essential Sales Resources for Entrepreneurs

Mike Malloy, Founder & CEO of Malloy Industries, recently led a 2-hour sales training workshop for the Georgetown Entrepreneurship Summer Launch Incubator (SLI). He focused on strategic guidance and providing tactical resources to help entrepreneurs build and scale their sales engines. Mike shared a treasure trove of resources to help entrepreneurs navigate their journey to sales success. Below are all the sales resources recommended.

"In my very long career, I've met some brilliant and accomplished people, but NO ONE compares to you, Mike. You are a gift to humanity and especially entrepreneurs. Your archive of relevant and actionable tools, tips, and templates far exceeds anything I've experienced. If entrepreneurs take advantage of what you shared, they will surely be on the road to great success."
Amy Millman
Amy Millman
SLI Program Director
A horizontal illustration in a minimalist and modern style. The design features subtle colors, with minimalist icons representing cash and sales. The

Sales Resources From Launch to Scale

1. Customer Discovery Interview Script Template
A structured template for conducting customer discovery interviews.
Click here to access the template.

2. Jobs To Be Done <> Value Propositions Worksheet Template
A worksheet for defining your value proposition.
Click here to access the worksheet.

3. Craft Your $1M Sales Pitch Framework Template
A structured, step-by-step, color-coded template to craft a compelling sales pitch.
Click here to access the template.

4. Lead Magnet Example
An example of an effective lead magnet to attract and nurture future customers.
Click here to access the example.

5. Qualifying Prospect Agenda Template
A detailed sales meeting agenda template with a robust pool of questions you can ask for qualifying prospects.
Click here to access the template.

6. Sales Funnel Management Template
A template for defining activities at each stage of the sales funnel, managing deals as they move through it, and optimizing your sales funnel to increase velocity.
Click here to access the template.

7. How to Save 100+ Hours of Your Life
Learn how to unlock infinite copy and paste with software and keyboard shortcuts.
Click here to learn more.

8. RSVP to Attend Entrepreneur Roundtables on Wednesdays at 4pm
Meet Mike to pick his brain at these free weekly roundtable discussions for entrepreneurs at any stage.
Click here to RSVP.

9. The Brain Audit Checklist
A 7-step checklist to ensure your business messages are clear and compelling, so you provide all 7 “bags” that a future customer needs to feel comfortable purchasing your product/service.
Click here to access the checklist.

10. Acquisition.com Training for Leads
Watch training videos on acquiring leads and learning about the Core Four from Alex Hormozi.
Click here to access the training.

11. If Cash Is King, Then Sales Are Queen for Georgetown Summer Launch Incubator 2024 Slides
Presentation slides on sales strategies.
Click here to access the slides.

12. Justin Welsh Creator MBA Notes
Mike's personal notes and examples from Justin Welsh's $899 Creator MBA course. Pay special attention to how he describes the 5 stages of the modern customer journey. You need to focus 70% of your content on the “problem unaware” stage.
Click here to access the notes.

13. Crowdfunding Toolkit
Based on Mike's crowdfunding experience raising $10k+ in < 36 hours, twice. This is a free, comprehensive toolkit for planning and executing crowdfunding campaigns.
Click here to access the toolkit.

14. LinkTree Example from QR Code on a Business Card
An example of using LinkTree for quick access to resources.
Click here to access the LinkTree.

15. Example of a Reverse Testimonial
A video example of a reverse testimonial.
Click here to watch the testimonial.

16. Strategic Business Review Agenda Template
A comprehensive agenda for conducting a strategic business review, which focuses on getting a holistic view of the business to know where your product/service fits in and how it drives business outcomes.
Click here to access the template.

17. Value Ladder Defined in Detail
An in-depth look at the value ladder strategy.
Click here to learn about the value ladder.

18. Product-Led Growth Case Studies
Real-life case studies on product-led growth strategies.
Click here to access the case studies.

19. CEO Scaling Toolbox
This is the motherload. After sharing all the resources above, one entrepreneur asked if we had a place where everything was gathered. Well, here is everything you could possibly need to build and scale your business.
Click here to access the toolbox.

Why These Resources Matter

These resources are not just theoretical. They are practical tools designed to make a real difference in your business. Each one has been tested and proven to help entrepreneurs succeed.

Additional Resources to Boost Your Sales

Here are some extra resources that can further help you in your entrepreneurial journey:

Email Templates
Click here to access the templates.

Cold Emails Advice
Click here to access the advice.

Customer Discovery Tools and Template Questions
Click here to access the tools and questions.

Preparation Checklist for Negotiations and Crucial Conversations
Click here to access the checklist.

Startup Internship Seminar Training Modules, including Sales
Click here to access the modules.

5/25/150: The Secret of the Best Networker I Ever Met
Click here to access the resource.

Sales Book Summaries

Mike learned so much about sales by reading sales books, applying lessons learned as a salesman, and then synthesizing his learnings into digestible book summaries you can read in 5-15 minutes:

The Go-Giver: A Little Story About a Powerful Business Idea
Click here to access the summary.

Double Your Profits: 78 Ways to Cut Costs, Increase Sales, and Dramatically Improve Your Bottom Line in 6 Months or Less
Click here to access the summary.

The Closer’s Survival Guide: Over 100 Ways to Ink the Deal
Click here to access the summary.

The Greatest Salesman in the World
Click here to access the summary.

So What? How to Communicate What Really Matters to Your Audience
Click here to access the summary.

The Challenger Sale: Taking Control of the Customer Conversation
Click here to access the summary.

Peak: How Great Companies Get Their Mojo from Maslow
Click here to access the summary.

Advice for Improving Your Sales Capabilities

Starting Strong:

 

Two-Sentence Elevator Pitch

  • Do you know how (ideal client profile) + (primary pain point you solve)?
  • Well, what we do is (your unique selling proposition).

Attention Directing Questions

  • Ask questions that direct the audience's attention to their pain point or problem.
  • Ex. Asking “What time is it?” directs the other person to look at their phone, watch, laptop clock, etc. Do the same thing with questions that accentuate the problem you solve.

Preparing for Sales Meetings:


Scheduling Meetings

  • Propose 3 times when scheduling a sales meeting, and follow up with this line:
  • If those times don't work, please propose a few that do, and I'll do my best to accommodate your schedule.

Meeting Preparation

  • Prepare an agenda before every sales meeting. Use the prospect-qualifying agenda HERE.

Technical Checks

  • Time check and tech check at the beginning of every sales meeting.

BAMFAM

  • Book A Meeting From A Meeting
  • The goal of every meeting is to get the next meeting, so make sure you save 2 minutes at the end of the meeting to look at your calendars and get the next one scheduled
  • Pro Tip: if there are other stakeholders involved in the decision-making process, see if you can get the other person to look at their calendar in Google/Outlook and find a time when they're available to join the next meeting

Engaging with Potential Customers:


Question Techniques

  • Ask open-ended questions and actively listen to their responses.
  • Be relentlessly curious about your customer.
  • Fall in love with customer pain, not your solution.

Adding Value

  • Add value in every interaction with a potential customer and give first.
  • Add value 3x and ask for a sale 1 time. Repeat.

Marketing and Communication:


AIDA Loop

  • Awareness, Interest, Desire, Action.

Forwardable Blurb

  • Write a forwardable blurb in the third person to forward from their phone (see example below).

Email Follow-Ups

  • Assume everyone reads your email while going to the bathroom that's why they didn't respond.
  • Follow-up email messages:
    • Bubbling this up to the top of your inbox because I know you're busy.
    • Are you still interested in (solving a specific pain point)?
    • I saw this article and thought you might be interested… (add another drop in the relationship bank, and remind them you exist, so they go back and reply on the other thread)

Persistence and Accountability


Polite Persistence

  • Polite persistence until you hear no.
  • Go for the no.

Accountability

  • Create external accountability to feel more pressure to stretch outside your comfort zone and conduct sales activities.

Building Relationships:


Focus on Relationships

  • Focus on how to build relationships so prospects know, like, and trust you.
  • All things being equal, people will do business with people they know, like, and trust.
  • Even when things are unequal, people will do business with people they know, like, and trust.
  • It is 9X easier to get a customer to pay you a second time than to acquire a new customer to pay you once.

5×7 Rule

  • 5 interactions in 7 weeks = friendship for life.

Building Trust:


Being Vulnerable

  • You build trust by being vulnerable.

Setting Expectations

  • Give yourself a buffer when setting expectations on follow-up to over-deliver.

Handling Questions

  • Someone asks you a question. Smile and nod. “That’s a great question. I appreciate you asking the question…” to give your brain 5 seconds to think of anything intelligent to say.

Payment and Customer Needs:


Payment Flexibility

  • Be willing to accept payment in as many ways as possible and as often as possible.
  • Venmo, PayPal, Bank Transfer, Credit Card, Cash App, Cash, Bitcoin, etc.
  • Don't let limited payment options be a reason you don't get paid.

Customer Needs

Conclusion

These resources and pieces of advice from Mike Malloy are invaluable tools designed to support your entrepreneurial journey. The templates and frameworks shared here can help you build a strong foundation for your business. Additionally, the extra resources provided can further enhance your sales capabilities, ensuring you are well-equipped to handle various business challenges.

Remember, these tools are not just theoretical—they have been tested and proven to drive success. Utilizing these resources allows you to gain strategic guidance, improve your sales tactics, and build meaningful customer relationships.

Start implementing one of these tools today to see a real difference in your business. 

Need additional advice, guidance, or resources? Meet Mike at an Entrepreneur Roundtable.

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