Question

After 20 years of working in a large consulting firm as Senior Project Manager for various assignments, you resigned from the job and started a small size consulting firm with four other similar minded consultants from various consulting firms. Five of you sit around and are in process of developing strategy for the new start-up. You are in-charge of Sales pipeline of your new company. What are the parameters you will consider for developing sales strategy? How will you identify the key factors?

Answer 1

When developing a sales strategy for a new start-up, key factors to consider include the target market, competitor analysis, pricing strategy, sales channels, and sales team. These parameters will help align the strategy with the start-up's goals and target market.

Step-by-step explanation:

When developing a sales strategy for a new start-up, there are several parameters to consider. Some key factors include:

1. Target market: Identify the specific segments of the market that your products or services will serve. This will help you tailor your sales approach and messaging.
2. Competitor analysis: Research your competitors to understand their offerings, pricing, and target audience. This will allow you to differentiate your products or services and develop a unique selling proposition.
3. Pricing strategy: Determine the appropriate price for your products or services based on market demand, costs, and perceived value.
4. Sales channels: Evaluate different distribution channels to reach your target market effectively. This could include direct sales, online platforms, partnerships, or resellers.
5. Sales team: Assess the skills and expertise needed for your sales team to achieve your sales goals. This includes identifying potential hires, providing training, and setting performance metrics.

By considering these parameters, you can develop a comprehensive sales strategy that aligns with your new start-up's goals and target market.