Business121 Small Business Newsletter #75

In this week's Business121:

1. Cold calling for phonophobes
2. How to plan Business Growth - Top Tips
3. Good Friday - Good pay guidance
4. 21st Century Start-Ups invest wisely in IT
5. Create Direct Mail campaigns with Royal Mail's Mailshots Online
6. Preparation will win over investors
7. Calls on Blair not to ignore the self-employed and freelancers
8. New support initiative for London's entrepreneurs
9. Age discrimination laws - most small businesses have made no changes
10. Paypal launches all-in-one payment solution for online SME's

Cold calling for phonophobes

This month's issue of Better Business magazine has some great advice on how you can generate business by cold-calling. Many small business owners are fearful of cold-calling and so miss out on what can be a very low-cost way to drum up customers.

But with a little bit of training and some practice cold-calling is a relatively easy task to master. Here's a summary of their cold-calling tips;

PASSION AND MOTIVATION
If you're struggling to feel motivated, think about what's holding you back - it could be anything from a lack of training to a lack of belief in your product. Whatever it is you need to tackle it. Take a hard look to see whether your fear stems from the fact that you don't know who your key customers and what benefits you can offer them.

TENACITY AND RESILIENCE
Knock-backs go with the territory, but if you're going to be successful you need to pick yourself up and start again. Your pitch won't appeal to everyone but with the right attitude, knowledge and skills you will win business.

FOCUS AND BELIEF
Focus on what you want to achieve from the call and avoid launching into an extensive sales pitch. If your aim is to book a face-to-face meeting, get their interest, gather information and ask for an appointment to discuss how you can help in more detail.

IN THE KNOW
Before going near a phone it's vital that you ensure you have an in-depth knowledge of your product or service. Equip yourself with the knowledge needed to answer potential questions and present a professional image for yourself and your business.

UNDERSTAND THE PROSPECT
Research the prospect before you pick up the phone - What do they do? How do they operate at present? How big are they? And how can your product help them achieve more?

THE COMPETITION
The final piece in the knowledge jigsaw is knowing the competition. You need to know what else is in the market if you are to build the respect and relationships needed to win business. Be able to demonstrate why your product is superior and know any weaknesses that may be thrown at you.

GETTING PAST THE GATEKEEPER
You're unlikely to get a direct line to your prospect - you may need to go through colleagues or a secretary. Getting past these 'gatekeepers' is a skill in itself. Build rapport with them get to know their name and find out a little bit about them. Use this information when you call next time.

BUILDING RAPPORT
Learning how to communicate effectively is key to developing a relationship that can achieve results. Consider your opening statement carefully. Give them a strong reason to listen to you.

ACTIVE LISTENING
Listen to your prospect, this will give you more information and help you to tailor your solution to them. It might also highlight additional opportunities you weren't previously aware of. Use your skills to create a two-way conversation to discuss the opportunities.

If you're motivated, have a strong knowledge of your product and market, and have the skills to cold-call, you'll quickly lose the fear of the phone.

You'll find the article in full in April's Better Business magazine. Business121 readers can get a special offer on Better Business.

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How to plan Business Growth - Top Tips
In her latest article for Bytestart readers, Helen Cracknell from Business Link, looks at the first steps to take when planning growth.

Good Friday - Good pay guidance
HM Revenue & Customs has cleared up the confusion over the operation of PAYE and National Insurance Contributions where pay is due on Good Friday, 6th April 2007.

21st Century Start-Ups invest wisely in IT
Small businesses are now turning to technological solutions to help them become successful. Tools such as high speed servers, laptops with wireless Internet connectivity, PDAs and VoIP communications, which have traditionally been the mainstay of large enterprises, are now of growing importance to small businesses.

Create Direct Mail campaigns with Royal Mail's Mailshots Online
To help small businesses take advantage of the potential of direct mail, the Royal Mail has launched Mailshots Online - an online service that allows you to put together an entire direct mail campaign in just 60 minutes.

Preparation will win over investors
In the fifth, and final part of his series in the Times, Dragon's Den panelist, Theo Paphitis gives his advice to business owners looking to win over potential investors.

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SMALL BUSINESS NEWS
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Calls on Blair not to ignore the self-employed and freelancers
A leading small business group has expressed disappointment that the Prime Minister last week failed to acknowledge the vital and increasing role played in the UK economy by freelancers and the self-employed.

New support initiative for London's entrepreneurs
Young companies in London can develop the skills needed to stay afloat and grow thanks to a new service launched by the London Development Agency this week.

Age discrimination laws - most small businesses have made no changes
Six months on and only 17% of small businesses have adopted recruitment and employment changes according to a study by Acas. Those businesses that have not made changes are running the risk of employment disputes.

Paypal launches all-in-one payment solution for online SME's
PayPal UK have announced the launch of Website Payments Pro, a new product that helps UK businesses of any size to accept online payments conveniently, cost-effectively and securely.

** For the latest Small Business News, visit http://www.Bytestart.co.uk **

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(c) Business121.co.uk 2007