No Picture
Starting A Business

What Separates Your Company From the Competition?

Before you embark on your journey towards starting and operating a successful business, there are a few things you should consider. Investors and lenders want to see in your Business Plan that there is something about your company that differentiates it from other established businesses within its particular market. The distinction could be in the form of a new product or service in the area, a new design for an existing product, or a diminishing product or service with a new “twist” aimed at revitalizing its profit margins. A substantial amount of research should be done on existing companies within the market to inquire as to whether or not they have product lines in place that far exceed the manufacturing capacity and creativeness of those that you intend to establish. Unfavorable outcomes obtained from research should not serve to deter business owners from pursuing their goals, but rather as awareness as to the pitfalls that they could encounter in doing business in that particular market. Ultimately, the research will enable the company management team to make the appropriate adjustments.
Another characteristic of a company that has the potential to separate it from its competition is how the company incorporates community involvement into its culture. In order to do business effectively within a community, employees and management personnel must recognize that the organization has a responsibility to the community to give back in an agreed upon fashion. Not only does community involvement provide a means of establishing relationships, it may also give citizens the incentive to do business with the company at a favorable point in time. Every relationship established serves as a business opportunity that when conveyed in a Business Plan informs potential investors and lenders that a company has the wherewithal to attain customers.
Although market research and community involvement are key in solidifying a place in the market, it is somewhat more important that the intended market is large enough to sustain substantial profits. Funding sources expect to be reimbursed for their investment and without favorable projections they will not provide resources for business start-up or operations. Therefore, if during the initial phase of market research it is concluded that the market is not large enough for generous profits, entrepreneurs should explore alternate locations.
This article serves as a means to stimulate thought about some of the “pitfalls” that may be encountered during the start-up phase of any company. Starting a business can be a daunting yet rewarding task. It is recommended that future business owners seek the assistance of a professional Business Plan Writer in order to not only create a well written Business Plan, but a “blueprint” for success that includes clear-cut guidelines as to how a company will reach its goals, overcome adversity, and maximize profits.…

No Picture
Starting A Business

What Every Successful Sales Representative Knows

Everyone is engaged in sales at some point in their life. It’s usually during a job interview when you’re trying to get the interviewer to see that you’re the most qualified candidate. When you work as a sales representative, you are constantly engaged in sales because the process of selling a product or service begins immediately. It seems as though some people are just great at selling things. That’s often because they understand the principles that all successful sales representatives follow. As it turns out, it’s not as difficult as you might imagine. To some degree, it boils down to be a likeable person.

In this day and age, selling products and services requires you to have the tools of the trade to succeed. You should have some type of mobile app for sales to ensure you’re able to effectively manage customer relationships and fulfill the administrative components of your job. However, there are important principles that must be followed if you expect to reach your sales quotas. For starters, you must be willing to listen to your customers. While this might sound like a no brainer, you’d be surprised by how many sales reps are more interested in talking than listening. That’s always a mistake because customers want you to hear what they have to say. In fact, they care much more about you hearing them than almost anything else. It’s because they want you to fully understand their needs.

There is a common belief that if you smile the whole world smiles with you. That’s because something as simple as a smile can change the way people view you. A smile is in fact the ultimate first impression because it can be disarming, especially if a person is having a bad day. Quite frankly, there’s nothing worse than a frown when you’re selling to a customer because it can act as a repellant. A smile is something that you can wear every day to draw customers in for an engaging conversation.

Something happens when you’re around people you know that doesn’t happen when you’re around strangers. You start to feel more comfortable and let your guard down. A way to achieve a similar feeling when engaging with customers is by using their name. It’s a way to establish a sense of familiarity and cause the person to feel more comfortable. In fact, this also applies to employees and prospects. If you’re not good at remembering names, it’s something that you should practice. Fortunately, Smartphones enable you to capture names, images and customer information that can make connecting with your customers a lot easier.

These are all principles that every successful salesperson knows and practices on a regular basis. It becomes second nature and simply a way of being when you interact with anyone on a professional level. To some degree, it’s simply about being a person that others like. While it isn’t a popularity contest, being respectful will make you popular and that will take you far in sales.