Business121 Small Business Newsletter #3
In this week's Business121:
1. Try this R-E-A-L-I-S-T-I-C approach to selling
2. Rootkits - the new security threat and more business news
3. 10 Ways to sell even more
4. What's on - B2B Midlands
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Try this R-E-A-L-I-S-T-I-C approach to selling
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Selling and how to sell more is a subject that comes up time and time again. Whether I'm at a networking evening, a business event or a training course, people are always asking for advice on how they can sell more effectively.
When it comes to selling, one of the first things you should remember is that every sale is an ‘exchange of goods'. This will help you to remember that selling isn't a one-way street.
Secondly, people buy from people. It's basic human instinct. We all feel more comfortable and are more likely to buy from people we trust.
As a business owner it's even more true - you are often the 'product' as well as the salesperson. So you need to persuade the customer to buy you twice over!
So here are some R-E-A-L-I-S-T-I-C things you can do to sell more and build a solid, loyal customer-base not a series of one-off, rip-off sales.
R - REALISTIC
Being hugely over-optimistic when compiling sales forecasts is a natural trait in every small business owner. But if you have an impossible mountain to climb, you'll never conquer it and you'll quickly lose heart.
Set yourself, realistic targets and reward yourself when you achieve.
You also need to be realistic in the claims that you make. Don't over-hype your product. If you give your prospect unrealistic expectations, your failure is guaranteed.
E - ENTHUSIASTIC
You simply have to be enthused about what you're selling. If you're not enthusiastic about it, how the heck do you expect to convince somebody else of its merits.
Successful salespeople are passionate and confident. When objections are raised they diffuse them comfortably. The best people make this seem effortless but the ability to overcome objections lies mainly in preparation and experience.
Before you try to make a sale, think of 5 possible objections you may encounter and come up with answers for each one. Each time you come across a new objection make a note of it and construct responses.
A - ASK
Before you can offer a solution, you must find out what the wants and needs of your customer are. The more information you have about your prospect the more likely you are to succeed in making that sale.
Remember, a sale is an 'exchange of goods'. A prospect has his own agenda and his own priorities and it is these that will shape his buying process and decision. If you understand your prospect's situation, you increase your ability to provide the solution that best-fits his priorities.
L - LISTEN
There's no point in asking questions if you're not going to listen to the answers. Good salespeople listen intently. They are constantly on the look-out for signs and signals from the prospect.
Use the answers given to your questions to develop the conversation further. Respond to your prospect’s particular needs and show him how your product can help fulfil his requirements.
I - INTERESTING
It's important that you don't hassle your prospects with the same old spiel for the same old product. If you do, you'll soon train your prospects to avoid you.
Make sure you have something interesting or new to discuss each time you contact them. If you do, you're far more likely to get the 'air-time' you need.
S - SINCERE
The 'S' most commonly acquainted with sales is 'SLICK' but the best sellers are also SINCERE. Cut the c**p and be yourself.
T - TRUST
Without doubt the most important word in sales. Before you can make a sale you will need to earn the trust of the prospect. The bigger the value of the sale the more trust you'll need to earn.
Trust is gained by being believable (so realistic, enthusiastic and sincere) and delivering on your promises.
I - INTRODUCTIONS
The hardest part of selling for most small business owners is in making that initial contact - that dreaded cold-call.
You can make your life much easier by spending a little time cultivating introductions. Ask your existing customers and prospects if they know of others that would be interested in your product.
C - And finally, no sale is complete without the final 'C', the CLOSE.
The most common reason for failing to close the sale is actually failing to ask for the sale.
We dread to hear the, 'no' so we don't ask the question.
It's hard to believe I know, but it is. We invest all that time and effort in nurturing the contact and developing the sale but we fall at the very last hurdle because of our fear of failure.
Now that really is one thing all of us should be able to overcome. None of us would have had the nerve to start our own businesses if we'd allowed the fear of failing to stop us.
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Latest Small Business News
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'Rootkits' - Just when you thought viruses were a pain!
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Well, it could only be a matter of time before hackers and virus writers got round the latest security technologies to start messing with people's PCs again. Just when we thought we were safe with our anti-spyware programs, virus scanners and firewalls, a new threat looms on the horizon, and what's worse is that the companies we rely on to keep us secure aren't really prepared for it. So, what is this new threat? It's something called "Rootkits".
How to keep on top of your office administration
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Running a small business can be a very rewarding experience, and with record numbers of start-ups recorded by the DTI last year, the urge to go it alone is as strong as ever. On the other hand, starting up can bring with it a number of stresses that the permanent employee is blissfully unaware of. One potential area of stress can arise when your administration has been left to the last minute, or seems out of control. Here are some tips for keeping on top of your small business administration.
http://snipurl.com/keep_on_top
Top ten tips for writing a business plan
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Writing a business plan can seem a daunting challenge. However, this skill is a vital requirement for any entrepreneur or business seeking to increase their chances of survival. Here is a list of top ten tips for writing that winning plan.
http://snipurl.com/_10_Bus_Plan_Tips
London business confidence slumps
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Business confidence deteriorated sharply in the third quarter of the year and is now lower than at any point since the onset of the Iraq War in the first quarter of 2003, according to the London Chambers of Commerce.
http://snipurl.com/_confidence_slumps
C-Charge extension a "body blow" for business
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A leading business pressure group is reacting furiously to Ken Livingstone's announcement today that the westward extension of the congestion charge will go ahead from February 2007.
********************** Partner Message ***********************
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It's all too easy to obtain an 'online agreement in principle' only to find that, after a nerve wracking two week wait, you're rejected when the underwriter realises you're not a permanent employee or asks you to show accounts (which clearly won't reflect what you truly earn - otherwise you need a new accountant!!)
Click here for more info on mortgage experts FreelancerMoney
http://snipurl.com/_FreelancerMoney
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10 Ways to sell even more
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If your thirst for sales tips still isn't quenched try these '10 Ways to Sell Even More' from Robert Ashton's, 'Entrepreneur's Book of Checklists'
Selling is not just about technique. There are some additional ways you can improve your sales performance. Here are some that are often overlooked:
1. ASK WHY - If your prospect turns you down, ask them why. You want to know their reason. You also then have an opportunity to change their mind.
2. ASK WHO - The moment you have the order is the best time to ask for a recommendation or referral. Too many people wait - do it straight away.
3. DROP CARDS - Business cards are cheap advertising. Always carry cards and never hold back from presenting one.
4. GET ABOUT - Show an interest in your industry or sector. Attend the events your customers attend. Ask good questions of speakers you hear. Be noticed.
5. BE MEMORABLE - Some of the best business people have a physical 'trade mark'. Branson doesn't wear a tie, others always wear a bow tie. Stand out from the crowd.
6. READ EVERYTHING - Once you develop the habit of reading press articles, office notice-boards, even invoices on your customers' desks, you will become more aware of who else you might do business with.
7. NEVER STOP - Customers have a home life too. When you bump into people you do business with, wherever it is, make a point of speaking to them.
8. SAY YOUR NAME - Whenever you meet someone, say your name as you introduce yourself. People only recommend people whose name they remember.
9. SIGNS - Sign-written vans, and other 'point of delivery' advertising makes it easier, particularly when you sell to householders, for neighbours to contact you.
10. MAKE NEWS - Get to know the journalists who write for your marketplace. Keep them fed with stories about your business. Be innovative and make news.
Thanks to Robert for allowing us to lift these tips from his book. The Entrepreneur's Book of Checklists has another 990 tips for small business owners and start-ups. You can find out more and buy it here: http://snipurl.com/_1000_Tips
You can learn more about Robert on his website: http://snipurl.com/_RobertAshton
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What's on...
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B2B Midlands - Ricoh Arena, 18-19 October
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B2B Midlands gives you the chance to learn from some of the country's best known entrepreneurs including, Simon Woodroffe of Dragon's Den fame, Jacqueline Gold of Ann Summers and Sahar Hashemi of Coffee Republic.
You'll also be able to source the latest products and services from some 220 suppliers who will be showcasing their wares at the event.
You'll find all the details of the exhibition and seminars at
http://snipurl.com/B2B_Midlands
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Posted October 11, 2005
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