Starting a business is no easy feat, and unfortunately, 90% of start-ups fail.
There are many reasons for this. Some fail because they run out of cash. Some fail because they are outcompeted. Some fail simply because there is no market need for their service or product. Many fail because they don’t have the sales team they desperately need.
Your Sales Team Is Your Start-Up’s Greatest Asset.
With the perplexity of making crucial business decisions, early-stage businesses sometimes hire inexperienced salespeople to lead their sales efforts.
Start-ups should not underestimate the importance of their sales team and the vital role they play in an organisation’s growth. Sales teams increase revenue and substantially impact brand reputation, long-term customer relationships, retention of customers, and overall business growth.
Having a solid and experienced sales team is imperative to the growth of your business and stop you from joining the thousands that fail to leave their mark.
Should you hire an in-house sales team or outsource?
When you are starting a business, you have your hands full with a bewildering variety of tasks ranging from financial planning to managing workflow.
Many start-ups particularly struggle with hiring the right people for the right roles, and for this reason, many are beginning to turn to outsource sales teams to alleviate the pressure. Outsourcing sales has a range of other benefits. These include:
Being considerably cheaper.
It can be challenging for entrepreneurs with new start-ups to manage cash flow. Many of them have limited resources at their disposal and have to spend money wisely because of this.
Outsourcing your sales is considerably cheaper than building your own in-house sales team. Most British companies spend on average £1,068 per employee for training alone. This, combined with wages and other expenditures, can add up to be quite expensive.
Outsourcing your sales team can reduce the expense and risk of hiring in-house. You won’t have to pay for managerial infrastructure or costly overhead by outsourcing your sales team, including salaries, training, and office expenses.
Get a wealth of strategic expertise.
Outsourcing your sales process is like onboarding an entire salesforce all at once, giving you instant access to their expertise.
External salespeople bring with them a wealth of knowledge and an array of skills when they start working for your business. This may include experience with your type of product or service, market industry, and target audience.
An outsourced sales team for start-ups can handle your entire sales process, execute a strategy, and generate leads on your behalf, maximising your business’s growth.
Less than 1% of start-ups successfully raise venture capital funding, meaning start-ups serious about scaling their business need to generate sales with a dependable, strategic sales plan. An exceptional outsourced sales team will have the know-how to create one based on their experience with similar businesses and your start-up’s needs.
Able to scale up rapidly.
The path to success for any start-up can be unpredictable, and there will be times when you need to scale up resources or even scale down. Outsourced sales can help start-ups manage peaks and troughs in demand to respond to market needs.
Your outsourced sales team can also help you target new market sectors or geographical regions at the speed you need to take advantage of external market dynamics. Taking advantage of market opportunities can mean the difference between success and failure, and an outsourced sales partner can allow you to scale at the speed you need.
It can be very time-consuming to set up a sales operation from scratch, taking time to find and recruit the best sales talent. Outsourcing a sales team for your start-up allows you to focus on what you do best – run a business.
Putting your business development and sales effort in the hands of experienced and dependable sales experts allows you to continue generating new business opportunities whilst prioritising day-to-day responsibilities.