SpaceX Sales and Business Development Framework

Selling the impossible

Space Technology Business Development Sales Strategy

Problem it solves

low close rates

Best for

Companies in the space technology industry

Not ideal for

Companies with limited resources or risk tolerance

Overview

Why this framework exists

This framework involves selling a product or service that does not yet exist, as Gwynne Shotwell did at SpaceX. It requires a deep understanding of the customer's needs and the ability to convince them to take a risk on a new and unproven technology.

Core principles

3 total

Understand the customer's needs and pain points
Be able to articulate a clear and compelling vision for the product or service
Be willing to take risks and think outside the box

Steps

3 steps

Identify the customer's needs
Research the customer's industry and identify their pain points and areas for improvement. Develop a deep understanding of their needs and how they can be met with the product or service.
Pro tipUse open-ended questions to gather information and build a relationship with the customer
WarningBe careful not to make promises that cannot be kept
Develop a clear and compelling vision
Create a clear and compelling vision for the product or service, including its benefits and potential for long-term cost savings. Be able to articulate this vision in a way that resonates with the customer.
Pro tipUse storytelling techniques to make the vision more relatable and engaging
WarningBe careful not to oversell or make unrealistic promises
Build a relationship with the customer
Build a relationship with the customer based on trust and mutual understanding. Be responsive to their needs and concerns, and be willing to make adjustments as needed.
Pro tipUse regular communication to keep the customer informed and engaged
WarningBe careful not to be too pushy or aggressive

Checklist

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Have a deep understanding of the customer's needs and pain points
Be able to articulate a clear and compelling vision for the product or service
Be willing to take risks and think outside the box
Build a relationship with the customer based on trust and mutual understanding
Be responsive to the customer's needs and concerns

Examples

1 cases

SpaceX's sale of flights to customers before a successful launch

Gwynne Shotwell used this framework to sell flights to customers before SpaceX had a successful launch. She was able to convince customers to take a risk on SpaceX by emphasizing the company's innovative approach and potential for long-term cost savings.

OutcomeSpaceX was able to secure funding and support from customers, which helped the company to continue developing its technology and eventually achieve a successful launch

Common mistakes

3 traps

Overselling or making unrealistic promises

This can damage the relationship with the customer and lead to a loss of trust

Failing to understand the customer's needs

This can lead to a mismatch between the product or service and the customer's needs, resulting in a failed sale

Being too pushy or aggressive

This can be off-putting to the customer and lead to a loss of interest in the product or service

Origin story

How this framework came to be

Gwynne Shotwell, the president and chief operating officer of SpaceX, used this framework to sell flights to customers before the company had a successful launch. She was able to convince customers to take a risk on SpaceX by emphasizing the company's innovative approach and potential for long-term cost savings.

Source

Traced to primary

Source · BOOK

Elon Musk Tesla, SpaceX, and the Quest for a Fantastic

Ashlee Vance · 2015

Open source →

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