Selling tactics difficult times (Promote yourself)

Scanning though viral e-mail and the advertisements and articles in newspapers over the past month, I have noticed that some hotels and restaurants are polishing up their act and coming up with their rather ingenious promotional ideas.

As hotels are reeling from falling tourist arrivals and felling the impact of this wide spread recession, this development is encouraging, as it makes more sense to introduce refreshing promotional activities to draw in patrons rather than to forgo revenue by leaving hotels rooms unoccupied and food and beverage outlets barely filled. Cutting prices is easy enough, but the problem is that almost every other business is doing the same thing, and you could cut yourself right out of business! The challenge in getting customers to go to you, and not your competitors, is in how cleverly you conceptualize your promotion deals to satisfy consumers’ desire for added value, and the ways in which you get those special offers to become the take of the town.

What’s also important is that whatever you offer, it should be genuine and pot purely a sakes poly. And once you’ve tempted potential patrons and buyer in, do not disappoint them in any way.

If you succeed in delighting your customers, many more will surely follow, because not only will they come back for more, they will also spread the news to their friends, colleagues and family members! The days, the power of viral advertising can be highly impactful, be it in bring your business positive or negative results.

Written by Sheila Lim, Extract from The Straits Times (June 06, 2009)

10 things to note to start a business right

1. Don't constantly change your business model

As new business owners, you can't afford to spend time reinventing every process in your business.

You resources are probably limited and your focus should be on revenue generation. Stick to the standard business processes and improve on them along the way. Avoid experimenting with process if they are already working for you.

2. Being on the job rather than taking care to business

Many entrepreneurs get too bogged down with the operation, rather than in the management of the whole business. It is only natural that you would want to work in areas of your business that you understand.

Yet as an entrepreneur, your job is not to specialize in any one aspect of your business but to mange your company, while it is important to get involved operationally, your ultimate goal is to grow your business.

3. Don't leave the running of your business to others.

It is common for business owners to delegate key areas of their businesses to experienced partners or employee. However, key decisions must still be made by owner.

The responsibility of running the business is still yours. You are accountable for the success or failures of your business. You can pass on work, but not leave it to others to make important decisions of you.

4. If you think small, you remain small

If you model your company to sustain only your income, you will never grow big and expand your business. Many entrepreneurs start a business with the sole purpose of creating that dream job for themselves.

True entrepreneurs always have big visions that go beyond their limit. They imagine how they can make the world a better place with their product or service – and work towards it every day.

5. A cheaper price doesn't mean more customers

Competing on price will not garner more sales. Offering a lower price does not mean that customers will switch from your competitors to you; it's product of service quality that people look for.

By offering lower prices will have smaller profit margins, translating into a smaller profit budget for product research and development.

Fighting over low prices will never benefit to you in the long run. Solely banking on price adjustments as competitive edge can be your faster route to bankruptcy.

6. You get what you pay for

Cost-cutting on ever aspect of your business, especially for staff, can be detrimental to your business.

Hiring employee on the cheap may appear to save your cost now. But you will be paying more in the long rum by losing the opportunities you could have obtained with the right people supporting you.

Talent and capable staff would not want to be paid less than their market value. Don't compromise on the quality of your staff.

7. Cost-cutting damper efficiency

The key is not about cost saving, but to balance out a cost-benefit ration on everything you do.

Instead of paying people to help you, you choose to do it all by yourself. You avoid using new technology that is deemed to expensive and prefer to keep that old machine, not counting that it actually cost more than buying a new one due to high maintenance cost.

Being efficient is a must for every start-up company where resources are limited, but you should not focus on cost-cutting as a business growth strategy. Instead, you should focus on bringing in more revenue that will cover your cost.

8. Don't focus on just one aspect of your business

Every business needs three legs for it to run: marketing and sales; administration and finance; and operation.

Entrepreneurs who are born salesmen will believe that sales is the most important aspect of their business. Entrepreneurs with experience in operation may believe that a solid business process is the key success factor for companies.

Every business requires marketing and sales, finance and administration and operations. All of these areas are equally important and it is up to you, the entrepreneur, to balance them, regardless of your field of expertise.

9. Have a proper yardstick in place.

Without proper reviewing processes, a business will not have a clear view of its current strength and weaknesses.

Many business owners rely solely on their instinct to make business decisions. The true entrepreneur takes advantage of data available to help him set appropriate goals, measure the company's performance and implement necessary measures to bring the business to the next level.

10. Work toward a long-term relationship with customers.

Relationship management is essential to the survival of any business. Entrepreneurs of ten make the mistake of chasing after new customers, seeing potential only in new, untapped markets.

Previous customers can often bring in repeat or referral sales which are just as important. Building a good customer relationship management system in your business can help generate additional sales form exiting customers. Having a good business relations framework is also important as it upholds the image of your company for long-term success.

Extract from Business Times (May 11, 2009)

We are looking for international distributor.

Unique (Since 1995) Pte Ltd, having established its strong presence and support from customers in Singapore through our core product CSII – PPS (Paint Protection System), is now one of the leaders in the paint preservation industry in Singapore.

CSII – PPS is Singapore-branded even though the product is manufactured in USA. Having ascertained the reliability and popularity of our CSII – PPS through our 50,000 sales records, we are now seeking overseas exclusive distributors for our CSII – PPS. We are confident that this wonderful product will meet with favourable response from the consumers in other countries as well. Please do contact Mr Chang How @ +65 96820001 for a detailed discussion on the advantages and procedures of becoming our exclusive overseas distributor. How does CS-II PTFE Paint Sealants work?
CS-II PTFE Paint Sealant PPS (Paint Protection System) is a multi-step application that produces 5,000 crystalline resin particles over one square inch which locks into the paint surface of a vehicle and seals it. When the car paint coating is done, no waxing would be required for 24 months, neither would it be affected by external causes such as acid rain. Best results however are achieved by following up with the CS-II silicon-free car wash solution, which removes foreign particles effectively while maintaining the shine created by the paint sealant. Think of it as a permanent raincoat for your beloved ride!
The environment is chockfull with chemicals that are detrimental to paintwork. Sealing the holes in the paint using our car paint sealant protects the paintwork and even makes it stronger giving some degree of protection against stone chips and minor scratches. The tough car paint coating also blocks harmful UV radiation which may bleach the color of your car.
The advantage?
- Protects your vehicle’s paint finish and simultaneously adds a brilliant shine which is guaranteed to last for 24 months. Maintenance is low and fuss-free- All you’d require are sponge and water!
- Unlike waxing which only gives a temporary shine and protection, CS-II PPS seals in the brilliance of the paint color, protecting it from the harmful sun rays and other elements.
- This car paint sealant has the added advantage of removing oxidation in your vehicle’s paint, restoring your vehicle to better state.

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