Founders: How Do Prospects Buy

Something that made me, my teams, and all the founders I coach immediately better at sales was to realize that it’s never about you, it’s always about them.

The prospect doesn’t care about your features (yet). They don’t care if you close the deal.

They have problems they need to solve.

Without this understanding, you’ll never close the deal.

So let’s dive into how prospect’s think about how to buy software.

And let’s look at how the FOUNDER framework helps them make a buying decision.

Understanding the Buying Process

When someone wants to buy something, they go through a simple thought process. It helps them decide if they should get the product. Let's break it down into four main steps:

1. I Have a Problem
2. Do You Understand My Problem?
3. Do I Trust That You Can Solve My Problem?
4. How Do I Get Started?

Each step is important. If you understand these steps, you can make it easier for your customers to buy from you.

Step 1: I Have a Problem

Every buying journey starts with a problem. The customer realizes something isn't right. Maybe they can’t track feature requests from customers. Maybe their data has errors that lead to bad business decisions. Whatever it is, they know they need a solution.

First Principle: Identifying Problems

To help your customers, you need to know what problems they have. This means listening and asking the right questions.

Step 2: Do You Understand My Problem?

Once the customer knows their problem, they look for someone who understands it. They need to feel heard. If you can show that you understand their problem, they will start to trust you.

First Principle: Empathy

Empathy means putting yourself in someone else’s shoes. Show your customer that you understand their pain. Repeat back what you heard. Use simple words they use. This builds trust.

Step 3: Do I Trust That You Can Solve My Problem?

Understanding the problem isn’t enough. The customer needs to believe that you can fix it. This means showing how your solution works. It also means proving that it has worked for others (if you have customers).

First Principle: Building Trust

Trust comes from proof. Share examples and stories of how you solved similar problems. Show them how your product works. Be honest about what it can and can’t do.

Step 4: How Do I Get Started?

Finally, if the customer trusts you, they need to know how to start. Make it easy for them. Explain the steps clearly. Remove any obstacles that might stop them from moving forward.

First Principle: Making a Decision

Give clear, simple instructions on what to do next. Be there to help if they have questions. Make the process as smooth as possible.

Applying These Principles with the FOUNDER Framework

Now that we understand the buyer's thought process, let's see how the SalesMVP Lab methodology helps at each step.

Step 1: I Have a Problem

SalesMVP Lab uses the FOUNDER Framework. The first step is to understand the Facts about the customer. What tools do they use? What processes do they have? This helps you identify their problems.

How to Apply:

• Ask simple questions to learn about their current setup.
• Listen carefully to their answers.
• Identify the main issues they face.

Step 2: Do You Understand My Problem?

Next, we focus on understanding Objectives and Pains. This means finding out what the customer wants to achieve and what’s causing them trouble. Show that you understand their problems deeply.

How to Apply:

• Use their words to describe the problem back to them.
• Show empathy by acknowledging their frustrations.
• Use examples from other customers who had similar issues.

Step 3: Do I Trust That You Can Solve My Problem?

To build trust, you need to Uncover the Impact of their problems. Explain how your solution can help. Share stories and evidence. Highlight the Negative Consequences of not fixing the problem.

How to Apply:

• Share case studies and testimonials.
• Demonstrate your solution with a simple demo. Show the demo in their context, highlighting how your features and workflows solve their problems.
• Be transparent about what your product can and can’t do.

Step 4: How Do I Get Started?

Finally, help the customer see the urgency. Discuss Driving Events, like important deadlines they might have. Explain how they can reach a decision and get started with your product.

How to Apply:

• Outline the steps to get started clearly.
• Offer to guide them through each step.
• Provide easy ways to contact you for help.

The FOUNDER methodology works because it follows the natural thought process of a buyer. It starts by understanding the problem, showing empathy, building trust, and making it easy to get started. By applying these first principles, you can guide your prospects through each step and help them make a confident decision to buy from you.

If you want to learn more about how to apply these principles in your sales process, join our SalesMVP Lab community . We offer resources, coaching, and a supportive community to help you succeed.

This newsletter was first published on July 19, 2024.

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