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Showing posts with label Rules. Show all posts
Showing posts with label Rules. Show all posts
Ten Rules to Follow for Small Business Success
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You may have been looking at several entrepreneurs who run small businesses as easy as breathing. You may have also thought if you could do it yourself and get away from the boring 9-5 life.
Well, fret no more as there only 10 easy rules you will need to follow in order to succeed in running a small business until your heart's content. Get a pen and a paper and take notes because we will tackle all of the rules in this article.
Rule #1
Target - What you offer may not be what all people need. Focus on a target market and then work your way from there
Rule #2
Beat the norm - Whatever your competitors are doing, don't follow it, at least not right away. Be a rebel and deviate from the usual in order to make sure that what you offer actually sticks to the long term memory of people instead of the short term
Rule #3
Get Teammates - Don't just hire people to fill a spot, select the few that are actually interested in making your business grow.
Rule #4
Ride the wind - Time is your most important asset. Always make sure that deadlines are met and responses are quick.
Rule #5
Don't forget to say thank you - This may seem like something that is not really important, but a customer can become much happier if you express your gratitude when they do business with you. It's the little things that make customers come back for more.
Rule #6
Consistency - You will need to make sure that how the customers feel today, is the same with what they feel tomorrow should they require your services again. And you will also need to make sure that all customers are treated the same all the time.
Rule #7
Smile - Once again, it's the little things that count and therefore this shouldn't be treated with low regard. A simple smile can compliment your service and marks an impression on the customer.
Rule #8
Be optimistic - A positive attitude is always needed in running a small business. Remember, the glass is always half full and nothing else.
Rule #9
Don't go too hard - Soft selling is what you should be doing. Aggressive hard selling only makes customer want to get away from you. Solving their problems and satisfy their wants.
Rule #10
Don't be narrow-minded - Try and leave the comfort of your little corner and explore new things. Deviate from the standards and seek out new ways that may work for you in ways you never thought it could.
Learn more rules on how to run a small business successfully with some help from SquadHelp! Our large community, composed of small business owners, entrepreneurs and business experts know what it takes to do it.
The Top 10 Rules To Close The Sale
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These days too many sales people spend too much time selling and no time closing. These two are completely different arts. Selling requires you to sell features, benefits and get emotional involvement while the close requires persistence and logic to make sense of getting your customer to make a decision. Closing directs them to take action and exchange money for your product or service. The world is filled with sales people who never commit to the art of closing the deal! Here are my top 10 rules to getting you that yes and close the sale.
TOP 10 RULES TO CLOSE THE SALE:
1.) Always be seated. Never present your proposal while you are standing. You don't close the sale that way. Sell on your feet close from your seat!
2.) Always present in writing. Never talk about your proposal without presenting it in writing. Always present with a contract rather than with a conversation.
3.) Always clearly communicate your proposal. Don't mumble. Clearly ask for the order to close the sale. "Sir if you don't have any other reservations, sign here."
4.) Always make eye contact. Make direct eye contact with your customer, be confident and determined to earn the business now not later. Practice this often so that you can maintain eye contact to close the sale.
5.) Always have a pen available. The sales person that doesn't have pen and contract ready is not a closer. Never be without a pen and contract so that when the opportunity is there, you don't miss it.
6.) Use humor to relieve pressure. I have never met a closer that didn't know how to use humor to relieve pressure. I have hundreds of little one-liners to relieve pressure and close the sale.
7.) Always ask one more time! Most sales people never ask for the close one time, much less the 5-6 times that is necessary.
8.) Always have an arsenal of closes available. You need to have closes for every possible stall and objection the buyer can throw at you. It's human nature to resist a decision. Remember, the buyers don't make sales, you do.
9.) Always stay with the buyer. Never leave the buyer if possible. You want compression in the close so that the buyer cannot get away from the idea of making a decision. I've even traveled home with the customer in order to close the sale!
10.) Always treat the buyer like a buyer. Regardless of the buyer's financial situation or reasons for not being able to close, always continue to treat the buyer like a buyer despite what they tell you.
Follow these top 10 rules to close the sale and master the art of closing. Remember, if you ever need any help to get you started or even just want more ways to close, download my "Close the Sale" app HERE for access to 300 different closes!
Grant Cardone, author of Sell To Survive, is being called The Entrepreneur for the 21st Century. Starting from modest beginnings, he is now the founder and owner of three multi-million dollar companies: a successful software company, a sales training and consulting business, and a real estate company with a portfolio valued at over 100 million dollars. Cardone also speaks internationally to industry leaders, managers, CEOs and entrepreneurs on sales, money, finance, business strategies and business expansion. visit http://www.grantcardone.com/
7 Golden Rules of Starting a New Business
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What are the golden rules of starting a new business? Or rather, the golden rules of succeeding with a new business?
Anyone who is planning to start a new business - be it startups or business owners who are planning to exit a business and start a new one, go through the same dilemma. What business to venture into? How to choose the right investment? What are the chances of success...?
There is no hard and fast rulebook for starting and succeeding in a new business or everyone who started a new business would have succeeded in it. Every business has its own strengths, weaknesses, opportunities and threats. But there are some fundamental principles that help you lay a strong foundation for a new business and help it grow into a flourishing venture.
Do what suits you best
If you are a start up, choose a business venture that excites you; something which you love doing. Never choose a venture only by its financial possibilities. There is no fun in building up something which you don't enjoy. If you don't like what you are doing and do it only because you think it offers better possibilities of growth, then success, even if it comes your way, will be temporary or unfulfilled.
If you are a business owner and you are looking to diversify, choose a venture that synergies with your current one. This will not only help you be in a stronger position with better business knowledge of your industry, you will also enjoy your new venture as a fresh area of growth. For instance, if your business deals with supplying food materials, you can explore areas in processed foods or food products.
Fulfill a need
Fulfilling an existing demand is always safer than creating a new demand. It is one golden rule that always works for new businesses that do not have the financial muscle to start a farm fresh new concept and convince prospects that they do need what you want to sell to them. It is safer to venture into a business which produces products and services that fulfills a need which customers know they have.
But remember to identify the USP (Unique Selling Proposition) of your product/service to make it stand out from the crowd of competitors. Once you yourself are convinced about your product/service, you will be able to convince your customers to buy from as opposed to your competitors.
Are the margins healthy?
The growth possibilities are always better in businesses where you can have a healthy gross profit margin. If the difference between your cost price and selling price is narrow, you will not have much left to plan expansion, hire more people, promote your business or save for reserves. Therefore, choose a business that offers a better possibility of profits.
Give the right picture
One golden rule that many start ups and new businesses give short consideration to is promising more than what they can deliver. Don't oversell your products or services by promising to your customers something you can't deliver. It is always better to beat expectations by providing a better-than-expected product than handling disappointed customers who expected more than what they received. Be truthful about your products and true to your buyers.
Business plan is a must
Before jumping into a business, create a well-detailed business plan which will include profit/loss forecast, cash flow analysis and break-even analysis. Creating a business plan will help you analyze how much your start-up costs will be, what your cash flow requirements are and what your marketing strategy will be. Once you have a well-laid out business plan, it will be convenient for you to work your way up, set your targets and plan your growth.
Keep all agreements in hard copy writing for your records
Keep all your contracts and agreements in hard copy. These include contracts detailing the sale of goods, rental agreements, paperwork regarding purchase orders, and storage agreements. Don't rely on verbal agreements. Business is business, and you will regret it if you do not document everything.
Remember to keep a backup of all your records, because if you store everything in on one computer hard drive without regular off-site backups, you are creating a recipe for failure. One hard disk crash can be disastrous. Don't take shortcuts when it comes to keeping records and agreements in safe and secure hard copy and backups.
Seek professional help from CEO clubs
It is a good idea to seek professional help from experienced people who have rich experiences in starting and succeeding in new businesses. Join a CEO club where other CEOs from non-competing industries can properly guide you on how to go about starting your new business and at the same time handling the current business successfully. A CEO association can also help you create an effective business plan and offer you practical suggestions.
Tom Bordon is a freelance writer who has extensively written about CEO association in Atlanta and executive business coaching. His articles focus on guiding CEOs, COOs and top level executives in starting a new business, selling a business and making exit planning strategies.
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