How To Grow Into An RM 120M Company
Every company begins small and unheard of. Their business model would be the same as everyone else which doesn’t capture interest immediately. So how does a small company grow into a multi-million ringgit giant? We have a client where they grew from 0 to RM 100M. They wanted to grow into RM 120M and they hired us to change and challenge many things. So how did they achieved RM 120M?
Building A Brand
In a time when no one knows you, branding is important at the start. Here, your sales pitch already begins by placing yourself in a position of service or fulfilling your client’s needs.
Branding for this manufacturer selling B2B is not about fancy offices with bean bags nor a great designed logo. They focus on 4 key areas for their brands – product quality, people skills, service deliverable and company image. Without the drive to change things in the above 4 areas, their brand will not be so strong today.
Knowing your target market are the crucial keys for continuous growth. Our client is already one of the market leaders in the region. How else can they grow their sales? Increase contract size from current customers? Cross-sell more products to current base? Reactivate previous customers? Target key accounts acquisition held by competitors?
We did all the above with 1 additional sales strategy, penetrating new markets. Identifying new countries with potentials that has pain points that can be solved with our products. Through the workshop discussions, we targeted a few countries and created strategies to prospect those customers. It was a tremendous success!
Having a Proper System and CRM
Something that can mess sales processes up is not having a proper system. Initially, you will have to multi-task until you can assign specific tasks to specific people (i.e. admin, finance etc). But even then, a proper CRM is needed to handle your account management.
Our client moved from traditional Excel sheets to a more professional CRM to manage live actions, open reporting and effective pipeline management. You cannot grow if you using old ways, old strategies or old software.
Investing in The Right People
When we say invest, we mean time and effort; not just money. You need to find the right people who not only can be a productive member of your company but can also fit into your culture.
Most companies simply hire based on resumes, years of experience and educational background without considering that they may be toxic for your peers, possess negative mindsets or even just “kissing up” for promotion. Take the time to get to know who you are really hiring for the benefit of your company.
Sales Training For all
Sales is your number 1 factor to bring revenue. So, investing time and money to hire, train and build up a strong sales force is crucial. Patience is key when it comes to building up a sales team as every sales approach is different per industry.
For newbies, you can train them on sales pitching, openers and presentation. Even for experienced sales people, you need to train them a whole new way to approach customers as their experience may differ from yours.
Sales Ninja specializes in training sales forces in every sector and industry on how to make use of their time especially in challenging months and slowing economies to overcome any obstacles they may face. If you find that your people face these types of challenges even during normal times, then Sales Ninja has the perfect solution for you.
Click HERE to reach out to us and our Senior Solutions Manager will get in touch with you with the speed of a ninja!