Blog Archives

May 29th, 2014

5/29/2014

The Optimist Guide To Sustained Growth
Applying knowledge with the right attitude

Be open To Feedback

To be successful and continue to grow we need to be open to both positive and negative feedback. At the end of the day it is what the customer believes and desires that is critical. Keep asking “Why” the customer bought your product or service. Work on understanding the factors that resulted in a “buying decision”. This will increase your ability to serve the customer better. It will also help you to define your market segment more clearly.

Be Transparent

The more people know you and your business offering the more quickly will they be able to make a decision. This is because knowledge about you and the quality you can deliver builds trust and encourages individuals to establish a commercial relationship with you. People buy from people. The personal knowledge and skills you have should be show-cased along with the strengths of your team and products.

Be a Specialist

Having in-depth knowledge of your products and services builds customer confidence. Learn as much as you can about your products and services as well as the industry practices. Joining trade or professional organizations to keep abreast with current and potential developments in your industry is vital to staying relevant and attractive to customers.

Count Your Blessings

Always appreciate your strengths and build on them. The more confident you are in yourself and your offerings the more confident will be your customers and prospects. Confidence fuels the drive to go out and give your best to customers and the community you serve.

Embrace Cultural Diversity

Our experiences feed into our thoughts. To succeed in a cosmopolitan world we need to constantly seek out new experiences and fresh ideas. Travel, meet new people and constantly read beyond your areas of interest. This can spark the creativity in you to offer a unique feature or experience that sets you apart from the rest of the competition. This is how high growth businesses sustain success.

Siddha Param
International Business Consultant
Reboot your business plan for sustained high growth.

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May 21st, 2014

5/21/2014

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Being Good At Sales For Success
Your source for financial security

For continual high sales rates you have to continually respond to changing market demands. Getting feedback and being able to process the information quickly into actionable knowledge is important for success. Keep learning new skills so you can adapt to changes more rapidly.

Business is about generating income. So you should always remember that the sale is not complete until the customer has paid.

All business leaders and team members should remember that their earnings come from collection of payments from customers.

Encourage a sales culture across the organization. This gives life to the expression, the customer is the most important person in the business.

Business leaders should be good at sales. This means spending as much time learning about sales techniques as you do on all other aspects of the business such as production, team performance, finance and supply chain management.

Understanding sales requires an understanding of your business, your team, your products, your current sales strategy and the consumer demographics you serve. Is there a market for your offerings that makes your business profitable?

Do you have the business capacity needed to achieve your sales and profit targets? Make sure your sales targets are realistic and achievable in a timely manner.

Ensure that your entire business team from production to administration, sales, delivery and customer relations all buy into a sales culture of delivering customer satisfaction.

In business as in life achieving success comes from learning fast and being current with your knowledge. Create a learning culture which encourages your business team to adopt a mindset for innovation and learning from the customer. Listen closely to what your customers say and understand the market and economic context for their response to your offerings.

Learn human interaction and negotiation skills so you can close sufficient volumes of sales within projected time-frames.

Even if you find yourself achieving your sales targets, it is important to innovate and try new approaches in the market. In business continual high growth requires continual innovation so you stay ahead of changes in the market and remain a leader in the eyes of customers.

Aim to give, maximum satisfaction for the maximum number of customers continually. That is the secret for long term high growth.

Siddha Param
International Business Consultant
Reboot your business plan for sustained high growth.

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May 13th, 2014

5/13/2014

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Decision making and staying focused
Weighing options without distractions

Framework for Decision Making
A key ingredient for business success is the ability to stay focused on a plan for sustained high growth. Sticking to a pragmatic vision and positive values builds trust in your product and services.

With trust comes brand value. However to sustain profit from brand value requires continual re-evaluation of market perceptions and the relevance of your offerings to consumers.

It is therefore important to constantly obtain market feedback, learn about developments in your industry and review your capacity to evolve to remain relevant to customers.

The challenge is in making business decisions in a timely manner based on the information you have. At the end of the day, your decision will be considered good or bad on the basis of whether the decision resulted in customer satisfaction.

Decisive Decision Making
It is important to analyse, understand and make decisions based on your business vision and values at the practical level of satisfying customers. If they are not satisfied they will not pay the price needed to make a profit.

Utilizing the business vision and values as the basis for listing significant options for deciding on the best course of action can result in a manageable list that encourages timely decision making. A list of insignificant options that are too long can lead to paralysis in decision making and in-action.

Justify inclusion of each option on the list for decision making. Ultimately it is important to make a decision that results in satisfaction for the greatest number of customers.

Siddha Param
International Business Consultant
Reboot your business plan for sustained high growth.

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MARKET CONNECTION

5/5/2014

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Connecting With Customers
Technology and the human touch

It is critical to understand your customers. The 80/20 rule states that 80% of your sales come from a well-defined 20% of your prospective customer base. To connect with prospective customers work on a marketing plan that allows you to reach your target market.

Both the electronic and traditional marketing tools have roles to play. You can build a virtual community interested in what you offer. However, connecting at a human level through actual meetings and telling of stories of human experiences can build trust in what your business offers. Take action to initiate and complete business transactions with prospects who have come to know you.

It is important to build relationships with prospects by getting to know them well. Identify the best ways to connect with them by finding out how you can help them fulfill a need or desire.

The internet enables businesses to reach out to a defined group across a wider geographical area. Consider means for delivering your products or services to this defined group.

A website and an on-line social media presence coupled with fixed venues where prospects can meet you or team members for face to face meetings gives you the advantage of being available through multiple avenues.

The right mix of physical meetings and on-line constant connection can be very effective in closing the sales for business success.

Siddha Param
International Business Consultant
Reboot your business plan for sustained high growth!

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May 29th, 2014

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