Entrepreneurial Sales Cycle Competition
Entrepreneurial Sales Cycle
Spanning multiple weeks of the semester, this competition allows students to practice multiple steps of the sales cycle within one business scenario. Partnering with the Entrepreneurship program, this competition is offered to students in entrepreneurial selling. Working with Mutual of Omaha, an entrepreneurial sales organization headquartered here in Omaha, students gain sales skills and experience while simultaneously learning what it takes to succeed as an entrepreneur.
*Note: This portion will not be offered this semester.
First, students practice prospecting techniques over-the-phone by leaving voice messages and talking with Mutual of Omaha sales professionals, acting as potential clients. Students execute the voice messages followed by a live call utilizing a three-step objection handling method to close on an in-person meeting.
Students prepare for this meeting with classroom-based training in needs discovery techniques and call planning workshops. The second challenge is to execute this plan with a live role play where the customer and sales student engage in an in-depth discussion culminating in a request for follow-up meeting. After this meeting, students turn to the product--financial products and services for a small business owner.
Working with Mutual of Omaha professionals, students discuss succession planning and other financial concerns of the entrepreneur. This product knowledge is not only need for round 3 of the competition, but for life, as these students prepare to become entrepreneurs themselves. In this final in-person meeting, the students review the needs of the client, and propose specific solutions to address those needs. Objections are addressed and students ask for the sale, practicing their summary closing techniques.