Mar 062011
 

Your most important skill as a business owner is your salesmanship.  Having the best product or service means nothing if you can’t get anyone to buy it, so to ensure the success of your business you must develop the ability to generate revenue – “salesman-ship”.  The techniques that follow aren’t difficult to learn, but they require discipline and practice.

Here is a brief outline of 13 techniques for increasing sales:

USE THE PHONE

Absolutely the cheapest, most effective, and efficient way to find customers is by phone. Yes, “cold-calling”!   Write out a script for this before you call, so you don’t sound vague.  Introduce yourself, your company, the purpose of the call, and give a brief “benefit” of your product/service to the client – “What will you do for his/her business?”  Be brief, to the point, and have 10 possible objections you might get, answered in your script. This way you’re prepared for the customary “brush-off.”  Always try to get a firm commitment to a meeting.  This call is not to “sell” the client, it’s to get a face-to-face meeting to establish credibility – and then to sell him/her.  Would you buy from a voice on the phone?  No!   You want to see the vendor and listen to his offer.

SHOUT IT FROM THE MOUNTAIN TOP

You should always be looking for new customer, and giving seminars, teaching, guest speaking at trade shows and organizations, or writing an article for your trade magazine or business journal establishes you as an “expert” in your field.  People like to buy from experts because it reduces their fear of making a bad decision.  Everyone can overcome their fear of public speaking, so find the method that works best for you and do it. As a desperate step, join a Toastmaster’s group near you.

ASK QUESTIONS

Most salespeople think that the first meeting with the prospect is the only chance to make a sale. WRONG! Before you go into your “pitch” ask questions, take notes, what are your prospects goals, challenges, etc.  Helping a prospect solve a business problem creates a “win-win” relationship and closes more sales than you think.

AVOID “PRODUCT DUMPING”

Telling your prospect all about your product/service before you know their needs is a mistake made by 95% of salespeople.  This is an inefficient selling method and upon reflection, your client will lose faith in you.  I’ve met with clients on several occasions and left them with some advice and good feelings, but no sale and that’s alright.  Because in the future I’m likely to get “word of mouth” referrals from them, which will outweigh what I might have made if I had simply “sold” them a service that wasn’t an answer to their problem.  Remember – nothing adds more to your credibility than a referral from a satisfied prospect.

KNOW YOUR NUMBERS

Selling is a numbers game, and you need to learn your “selling ratios.”  How many prospecting calls do you need to get a meeting, and how many meetings to get a sale.  This allows you to manage your cash flow by forecasting your sales. It also tells you how many calls are needed to increase your sales revenue.

 

HAPPY SELLING!

Dec 212009
 

This is probably one the most time-consuming and frustrating tasks in setting up a business.  There are several important things to consider when you look for your base of operations.  Firstly, you need to decide where your main headquarters will be set up.  If you are starting a retail business, traffic is a main concern.  However, this does not mean location is irrelevant if you have a service or manufacturing business.  It is important as well even though it does not have as much impact on your daily sales.  You will need to look into details like whether your company would want to lease or own a property, the size, layout and expected utility costs.

As you are selecting your ideal location, jot down your impressions and any keywords that might help you in the decision-making process.  The weed out any areas that are not central or do not apply to your particular type of business.

Here are some questions to help you along the way:

  1. Why did you choose this location?
  2. What other locations did you consider?  Why did you decide against these locations?
  3. Does your proposed business comply with local zoning laws?  (for example, in Malaysia, you cannot operate a business in a house in area designated for residential only)
  4. What are the other businesses in that area?
  5. What are the businesses that are complimentary to yours?
  6. Are you near any direct competitors?
  7. Is this going to be your company’s permanent location?  If not, how long do you plan to be here?
  8. If you are leasing, how long is the lease?  Any renovations necessary?