Well the decision has been made. You and your investors have chosen to take the leap and fund a company that has a great product or service which can be scaled. They have been added to the portfolio. Your portfolio company might have even worked with a couple of appointment setting companies and made a few sales and the founders are excited about the possibilities once funded to scale the company. Everyone is happy.
A good return on your investment, as you know, is anything from 10X to 30X. If you can get 100x, that would be fantastic!
When you decided to invest you asked the hard questions regarding the “go to market” strategy. That strategy involved securing resellers and distributors to sell the service/product (no “hard” cost sales teams) sprinkle in some internet SEO and PPC investment to drive leads. Attend some trade shows. Everyone felt the warm and fuzzies.
But as you rolled out the program you may have realized that the reseller and distributor channels did not work as well. Because these alternative sales channels are not focused on your product/service for various reasons. Given you were not paying them, there is no accountability. Therefore, your funded company has decided to hire sales reps.
This is a good move, but you are now 12 months behind schedule. Additionally, recruiting and onboarding sales reps to scale nationally can be a challenge. Pushing your goals out even further. This is where you might want to consider reaching out to one of the many appointment setting companies out there.
A parallel strategy could have been to support the sales efforts with contracted inside or outside sale teams to generate more leads and qualified appointments by geography, as not to overlap with your funded companies direct sales teams. These appointment setting companies would also close sales. This would allow for significant growth to catch up with your revenue projections that led to the initial funding that was expected by your investors. This strategy could be a cost effective one for your portfolio company.
Think about this as your fund your next company. Sales Outsourcing is an option. Appointment setting companies, like us, can get the job done for you!