Entrepreneurship is perceived as sexy. Be your own boss. Pursue your passion. Make the decisions. Lead your team. While these are true, there is one area that is sometimes hard for emerging business owners to embrace. Selling.
Business builders wear many hats. YOU, the business owner, are the most important salesperson in your company. It starts with selling your idea, right? Here are five tips to help you succeed.
Know Your Worth
To sell, you first have to know how much to charge. Avoid competitive pricing. It can quickly turn into a race to the bottom, signal you are average or that your product or service is a commodity. Great clients are looking for quality, good work and are willing to pay for it. Think in terms of how much value you give to clients as opposed to how much you are trying to get.
Be exclusive. Know who your ideal clients are and where to find them. The phrase “niches are for riches” could be your mantra. Finding that customer sweet spot will help generate repeat customers, more referrals and better reviews. That’s because you’re selling to people who actually want/need your product/services.
Blast Your Goods/Services
Don’t just state your value, quantify it and share examples proving you deliver what you preach. If you don’t have a slogan or tagline–create one. Having a go-to phrase customers can easily recognize will help the stickiness of your brand. Aim for memorable and easy to digest, while making your benefits clear. Practice your elevator speech and focus on benefits, not features.
It’s easy to want to be the hero in your customers’ lives. That’s not what they seek. They are the star of their own shows. They simply need you to guide them to what they want (e.g., the goods/services you provide).
The 80/20 Principle
This well-known axiom states “80 percent of sales come from 20 percent of clients.” This is important when deciding how to allocate your time and focus. Applying this rule can also help you leverage referral business. This often makes up about 40 percent of overall sales. Work on empowering your referral network by staying top of mind through strategic contact and content.
One of the best ways to drum up business? Join a network group and start shaking hands. Northeast Indiana has numerous organizations who offer business mixers. Business owners are truly the best salespeople in their companies. We trust these tips will help guide your success.
Phone: (260) 407-6442