Sales growth is key to success for early stage and SME HealthTech businesses

For early stage businesses, it is common for the founding team to be developing the business, raising capital, launching products, creating an organisation, and at the same time, attempting to sell to fuel market growth, revenue and profitability.

April 2020 | 2 min read

Securing your first customer, moving from 5 to 50 customers, building a channel, launching a new product, entering a new market, requires focus and well-defined sales and go-to-market strategies.

Above all, organisational readiness and enablement are key to ensure that you have the capacity and capability to execute your growth plan and deliver against your commercial imperatives and aspirations. This can be daunting for you when you’re already managing the many other moving parts of your business, but is critical to achieve success.

Who should you hire, a sales director or a business development manager or what about a hybrid of the two? Can you afford to hire the people with the right experience that can accelerate your growth? Do you have the time to devote to a new hire to support them to be successful? Are you ready to hire? Do you have the right systems in place to know what success looks like? Key hires are crucial in your success, but not getting the right balance between experience and affordability can lead to a mismatch in early sales hiring, missed sales objectives and unwelcome costs at a time when executing on your market opportunity is so critical.

In our experience, early stage and SME’s often need help with the following:

  • Providing market research and industry insight to support your strategic decision making, pricing strategies and deal composition, product/service propositions and differentiation helping you to design and articulate your value proposition, differentiation and routes to market.
  • Assessing your target markets to identify and prioritise segmentation, key stakeholders and funding sources providing you with the insight to understand who will buy, why they will buy and how they will procure.
  • Establishing your ideal customer profile, identifying key customers, product buying profiles, market size, velocity, stability, competition, regulation and barriers to entry.
  • Assessing your capabilities against the market to ensure that you have the capabilities to execute and succeed in your chosen markets.
  • Developing a strategic go-to-market plan to help you identify key competitors, develop market projections, profile customer segments and to profile large potential markets.
  • Developing a sales plan aligned with your business plan and go-to-market strategy; provide guidance on the appropriate sales target operating model, including lead management, opportunity management, sales execution, channel strategy and sales governance, tools and systems.

If you would like to accelerate your growth then, Datalla Group’s Sales Accelerator could be the answer. Whether you are a start-up, SME or corporate, Datalla Group’s Sales Accelerator can provide you with an instant and enhanced capability to deliver business-critical sales and commercial strategies and tactics for better outcomes. De-risking hiring decisions and arming you with the knowledge, experience and tools, tuned to your chosen market, can help accelerate your pace of growth. 

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Adam Kamruddin

Partner

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