3 Most Important Skills In Sales - Business Development, Account Executive & Account Manager | Patrick Dang | Skillshare

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3 Most Important Skills In Sales - Business Development, Account Executive & Account Manager

teacher avatar Patrick Dang, International Sales Trainer

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

3 Lessons (9m)
    • 1. 3 Most Important Skills In Sales - Business Development, Account Executive & Account Manager Intro

      0:49
    • 2. 3 Most Important Skills In Sales - Business Development, Account Executive & Account Manager

      8:09
    • 3. Next Steps

      0:22
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About This Class

Learn the three most important skills in sales from Business Development, Account Executive, and Account Management.

Modern sales can be overwhelming at times, especially with the advancement of NEW sales roles that were recently created in the last decade or so.

But from my experience working at Oracle in the startup world, I've discovered three essential sales skills you must know to be successful in sales.

So whether you're an entrepreneur or a salesperson working for a company, this still applies to YOU!

The first important sales skill you have to master to become successful in sales is Business Development.

Now there are a few terms that are interchangeable with Business Development such as Sales Development or Lead Generation.

But the primary function is to generate meetings with your potential customers with outbound cold emails or LinkedIn messages.

If you can't get a meeting with your potential customers, you don't have an opportunity to sell anything!

So if you're starting your sales career, most likely you'll be fulfilling the role of generating leads for account executives to close.

And this leads up to our second important sales skill which is being an Account Executive or (everyone's favorite word in sales) CLOSING!

Now the main role of an Account Executive is to convert those leads into customers.

This means Account Executives spend most of their days preparing for sales meetings and closing deals to generate revenue for the company.

Now, although closing is an extremely valuable skill that every business needs, Account Management is going to be vital as well.

The goal of an Account Manager is to keep the customer happy and continue the business relationship.

This means it's an Account Managers job to renew or sell more products and services to this customer.

Meet Your Teacher

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Patrick Dang

International Sales Trainer

Teacher

Hey, it's Patrick here!

Now, I’m on a mission to help everyday people to generate more sales for their business using the most cutting-edge B2B sales strategies.

After a successful sales career in Silicon Valley, I packed two suitcases and booked a one-way ticket to Thailand and started my journey with the aspiration of creating world-class online B2B sales training all while living a digital nomadic lifestyle.

And since then, I’ve traveled to many countries while creating programs training over +30,000 students in over 150 countries.

And over time, it became clear that no matter what country you’re from, what your background is, or whether or not you think you have the talent to sell...I’ve found that sales is a skill anyone can learn... See full profile

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Transcripts

1. 3 Most Important Skills In Sales - Business Development, Account Executive & Account Manager Intro: everybody. What's going on is Patrick Dang here in this video. I'm going to show you the three most important skill sets when it comes to sales, whether you're just starting out and looking for a job in sales or you already working sales or even if you're an entrepreneur thes theory, skill sets are going to be incredibly important for your success in generating revenue, and specifically, we're gonna cover three different topics, which are business development, which is generating leads. Then we're gonna cover account executives and how, exactly, to close Evan last year we're gonna talk about account management, and that is making sure that your customers are happy and your continuing to do business and getting that recurring revenue every single month or every single year. So if you're excited to learn about the three most important sales Gilles for your sales success, make sure you and pro in this course now 2. 3 Most Important Skills In Sales - Business Development, Account Executive & Account Manager: now, sales is a broad topic. It could be very confusing, especially if you're just starting out. So in this video, what I'm gonna do is I'm gonna show you the three most essential sale skills that you need for any business or if your sales person and you want to be successful. And I found these three skill sets extremely useful during my time in Silicon Valley, at Oracle as a sales rep and also in the startup world. And even as a business owner myself now thes three most important sale scales still apply today. Now, when it comes to the three most important sales skills, this is gonna apply whether you are an entrepreneur, building your own business and you need to generate sales. Or if you are someone who is looking for a sales job just getting started or already in sales, this is going to still apply to you. Now. The first important seal skills that you have to master to become a great sales person is actually business development. Now there are a couple of names for business development. Sometimes it's called sales development, and other times it might be called lead generation and How you want to think about sales is you want to think about it as a funnel now at the top of the fund. Oh, no matter what business you're in, you have to generate leads, right? And so when it comes to sales, these are going to be the people who are going to networking events, asking for referrals and basically looking for business. And what's popular these days is that a lot of companies, whether it's tech, an agency or whatever it may be, what they do now is they send out cold emails or Lincoln messages to people that they want to work with asking for a meeting. Essentially, the people that are interested are going to take your meeting, and that is how you generate a lead. And obviously, as you can see, no matter what type of business you're in, this skill set is going to be incredibly valuable because you're able to take nothing basically and go out there and find people who will be a great fit for your product and service and then eventually close a deal. But if you're not able to find these people and generate a meeting than you simply cannot generate any revenue, and that means you don't have a business. So that's why business development, sales development or lead generation, however you want to call it, It's going to be the first critical skill set you need in sales to be successful as a sales person or an entrepreneur. And during my time working in Silicon Valley, especially at Oracle, most of the sales people that start at a company like Oracle or Salesforce or Microsoft they usually start as a business development, rap or sales development right, which is pretty much the same thing. And all they do is generate leads for account executives to close. Which leads me into the second skill set that's going to be extremely valuable for you guys , and that is going to be closing. Okay now, typically, when someone is a cell development rep or business development rep for a while going to get a promotion and then they're gonna be upgraded into an account executive now for an account executive, the whole job is actually to convert these leads right, the people that you message before and turned them into paying customers. As you can see the flow here in the first person basically generates the meeting. That's the sales of Element RAB. And then he passes that lead over to the account executive, And that's going to lead into the second skill set, which is closing. And to be an effective and efficient account executive or closer, you have to be able to listen to a customer, empathize, move what they're growing through, understand their pains and uncovered them. Then position your product and service as a solution to that pain. And that's essentially the cycle of how you turn a complete stranger into a paying customer . And if you want to Seymour about how exactly to run your sales meeting and uncover these pains and picture product and service, I actually have another video on exactly how to do that somewhere on the screen or check out the link in the description. And obviously being an account executive, you guys already know it's one of the most valuable skills that you can have because it's essentially taking a stranger, turning them into a paying customer and then generating revenue for yourself or your business. And that is typically why account executives get a lot of big paychecks because they're the one closing and they're getting that sales commission now. Although closing is a very, very valuable skill that any business needs, this next one is going to be extremely critical. And that is account management or a k A being an account manager. So once an account executive closes a deal, that customer is then passed over to the account manager right, And this is a whole different sales row. And the goal here for an account manager is to keep your customers happy and get them to continue purchasing your products and services and eventually increasing the lifetime value of that customer. Now, even though this is actually just keeping customers happy, is essentially the life blood of most businesses. I'll give you an example. So, let's say, an account executive close the deal for $10,000 a year for a software. Okay, so the cow executives gets a commission passes this customer over to the account manager. Now the deal's already close. But here's the thing. That count manager has to keep this customer happy so that every year they keep renewing this software, so every year it's another 10,000. Another 10,000 another 10,000 until they eventually stopped the service. If they ever stop now, not only do they have to keep renewing this customer and basically generate money more money from this person, they also try to sell more products and services to this person. And maybe instead of paying $10,000 a year, they could sell more products and services and eventually get this person to $15,000 a year or $20,000 a year. And this is recurring revenue that's going to keep coming in every single year. So obviously, being an account manager or having the skill set of nurturing your customers is going to be extremely important if you want to grow a business for the long run. Now I have a question for you guys based on the funnel that I showed you. Which skill said do you think is most important in sales? Is it the business development being the account executive, or is it being the account manager? Go ahead and put it in the comments and let me know which one you think is most important now in sales. Everybody has their own different opinion on what's most important about go ahead and share you what I feel is the most important to give you a little more insight based on my experiences now, when it comes to whether it's business, development, account executive or account management. In my opinion, the most important skill set and is the most underrated job is actually the business development row. So you see, when you look at this funnel when you look at the top, if you don't have any leads at the top of the funnel, then you have nobody to close, and you have nobody to renew and do account management. So although every skill set, in my opinion is important, the most valuable one is actually lead generation, because if you don't have any leads, you can't close any deals and you can't generate a new revenue. It doesn't matter how great of a closer you are. If you can close 100% of everybody you talk to over the phone or in person, that's fantastic. But if you have nobody wanting to talk to you, then you're gonna close zero deals, and that is widely generation is most important, especially if you are starting your own business or you're working at a start up and you're trying to get something off the ground. The most of the challenges that people have is how do you get your name out there? How do you get people to even want to have a meeting with you to know that you exist? So by increasing the top of your funnel, you're gonna be able to get more meetings, practice your closing in your ability to increase a lifetime value of a customer. But obviously the most support in part is to get that first meeting or get multiple meetings and then convert these people over time. And, of course, as time goes on, you get better at converting and increasing your sales. But obviously, Lee Generation is one of the most important skills in my opinion. And one thing I want to ask you in the comments, let me know which sales role you feel fits most of your skill set and your personality Is that the business development side where you're generating leads, or do you want to be a closer as an account executive? Or maybe you want to keep customers happy As a account manager, let me know in the comments which one resonates with you the most. So that said, that's everything that we have to cover for this video and I'm going to see you guys in the next one. 3. Next Steps: Now, if you're getting any value out of these courses, make sure to leave a positive review. Sharing your experiences. I read every single review, and I really do appreciate your feedback. And if you want to see more videos like this, make sure to follow me on skill share so you could be notified on when I release my latest courses.