What They Dont Teach You At Stanford Business School

Stuff you can't learn in B-school: LARRY CHIANG

3 Small Steps to Build Your Sales Muscle as an Engineer

with 2 comments

By Larry Chiang

I solve a clear problem Paul Graham brought up.

Sales skills for engineers helps you “Do Things That Don’t Scale”
http://bit.ly/pgrahamCh6

The Baby Steps Toward Tech Sales Experience as an ENGR Undergrad are curated under my fb and T feeds under “#Ch6”

Here are 3 baby steps for Stanford undergrads in engineering that want to spend 2-5 hours before next quarter preparing and augmenting their likelihood to get recruited in to YC (y-Combinator) or in to Stanford Start X. You prep by taking baby steps towards promotion experience

-1- “Sell” an event that costs hundreds to attend.

The idea here is to have complete cognitive dissonance with what you are selling. If I attempt to sell you a Duck9 credit card with a Larry Chiang sticker and you say no… I feel SAD.

If I try to sell you on buying an $80 ticket to the TechCrunch party and you say “no”, then you are saying no to TechCrunch. This way you just get experience selling.

-2- Reduce to the Ridiculously Easy to Sell

‘Sell’ pizza to drunk executives.

Pizza is ridiculously easy to sell because it sells itself. Get a handmade sign that says “5 BUCKS” on a piece of non cheese encrusted corrugated. Buy 10 large pizzas
– 3 veggie
– 2 cheese only
– 2 mushroom
– 4 pepperoni

I know that amounts to 11 but I challenge you to negotiate an 11 for 10 deal 😉

QUESTION Larry Chiang: won’t execs feel like they’re getting ripped off?! The whole pizza only cost 12 and I’m selling 8 slices for 5.oo
LARRY CHIANG: execs just want to be entertained.

-3- Sell Using a Full Rebate

You know those deals where you buy a pen for 1.99 and there is a rebate for $2.oo?!

Well you can “sell” using a rebate.

Another sales genius level of rebating is the LCRRM

It’s Larry Chiang Reverse Rebate Model.

Ok, let’s look at a pretty ballsy example. The Stanford GSB hosts an annual Entrepreneurship Mixer. It is free. It isn’t really attended by well known entrepreneurs or VCs.

So, I decided to charge VCs $95 in a fully rebated ticket.

VCs got their $95 back when they showed up. I capped tix “sales” at 13 meaning that I would only let 13 people “buy” from me.

When they showed up, I’d rebate all their money back.

Doing this gets you sales experience without really risking
– your ego
– your time
– your pocketbook

Note: VCs love when engineering student undergrads ask them for money. It actually sexually excites them.

Why??!

Asking for money is a skill that VCs see as important.

In my time at Stanford, I found that time-and-time again that companies with more money tended to do slightly better than companies with less money.

Mark Cuban recommends that you sell shoelaces
http://bit.ly/mcuban710

EASTER EGG: If you’d like to pattern replicate Martin Shen, I’ll let you do a #ReverseVC event. It’ll get your sales experience going. It’ll get you going. I’ll help you DO something

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Written by Larry Chiang

July 19, 2013 at 8:00 pm

Posted in Uncategorized

2 Responses

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  1. […] out of the building” and meet you in a swank hotel lobby while a tech conference is going on https://whattheydontteachyouatstanfordbusinessschool.wordpress.com/2013/07/19/3-small-steps-to-build-… Remember, when you and two other people both ace engineering and ace the three blog posts up […]

  2. […] Here I regurgitate another “bit.ly” http://bit.ly/mcuban710 In my office hours, I “get out of the building” and meet you in a swank hotel lobby while a tech conference is going on https://whattheydontteachyouatstanfordbusinessschool.wordpress.com/2013/07/19/3-small-steps-to-build-… […]


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