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Decoding Sales

Episode 38: Founder-led Sales Mistake #2

Decoding Sales

Peter & Alex

Enterprise Sales, Business, Virtual Selling, Sales, Entrepreneurship, Software Sales

520 Ratings

🗓️ 7 August 2024

⏱️ 26 minutes

🧾️ Download transcript

Summary

Send us a Text Message.Peter and Alex discuss founder-led sales mistake #2: Spending too much time on bad-fit leads. They dive into:What makes a bad-fit lead? How do you qualify for fit and what questions can you ask to get clarity around this?When are some examples you may continue working with non-ICP customers? How do you know when to eject out of a deal midstream?Learn more about Peter's bootcamp Sales Sprint and his founder-led sales community, Zero to Hero!

Transcript

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0:00.0

Welcome to Decoding Sales, a podcast where an engineer, that's me Alice, and a salesperson, that's me Peter, talk

0:16.0

about the art and science of sales as it relates to life and business.

0:20.6

In this episode we're going to talk about founder-led sales mistakes.

0:25.0

Mistake number two, not disqualifying bad fit leads.

0:28.0

Peter, I'm really excited for this topic because this is, I think, as you put it,

0:32.0

one of the most important things people can get wrong.

0:34.0

So tell me a little bit when you're talking about this, what are the kinds of situations you're thinking about?

0:39.6

Yeah, I think there's a few situations.

0:41.2

One is founders who are trying to chase the shiny logo and get enamored by that without

0:46.4

realizing that maybe the paint point isn't a good fit or your solution doesn't quite

0:51.1

address what they're looking for.

0:53.2

I think that's really dangerous because no matter

0:56.0

how notable the logo is, if they're

0:57.7

going to suck up a lot of time

0:58.8

and ultimately not procure your platform,

1:01.3

that's going to eat into your resources and you don't have a lot of that as a startup, right? your even if you're not dealing with like a Nike or Home Depot, you could also waste a lot of time with smaller

1:14.8

companies too, because you have this thought that your product is a fit when it's not.

1:20.3

So I think it's just really important when you have limited resources and that's a lot more of an acute pain point when you're a startup to ensure you're working with people who have a high chance of closing and that align with your way of thinking about the world.

1:35.2

That makes sense, that's great.

1:36.2

So for those two examples, what are the signs that you're in a deal process with someone that you should be getting out of.

1:44.6

Yeah, I think there's a few signs. One is, you know, we talk about this in the pitch deck episode

1:50.0

as like the pitch deck being a qualification tool versus a pitch deck and so when you're asking

...

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