C A E HOW YOU E DO ϱ tĂLJƐ ƚŽ ^ƟŵƵůĂƚĞ ^ĂůĞƐ 'ƌŽǁƚŚ ĂŶĚ ƵƐŝŶĞƐƐ sĂůƵĞ BY DENNIS SOMMER /Ŷ ƚŽĚĂLJ͛Ɛ ďƵƐŝŶĞƐƐ ĐůŝŵĂƚĞ͕ ŝĨ LJŽƵ ŚĂǀĞŶ͛ƚ ĐŚĂŶŐĞĚ ƚŚĞ ǁĂLJ LJŽƵ ĂƌĞ ĚŽŝŶŐ ďƵƐŝŶĞƐƐ͕ LJŽƵ ǁŝůů ŶĞǀĞƌ ďĞ ĂďůĞ ƚŽ ŝŵƉƌŽǀĞ LJŽƵƌ ƐĂůĞƐ ŐƌŽǁƚŚ͕ ďƵƐŝŶĞƐƐ ǀĂůƵĞ Žƌ ŽǀĞƌĂůů ďƵƐŝŶĞƐƐ ƉĞƌĨŽƌŵĂŶĐĞ͘ ,ĞƌĞ ĂƌĞ ĮǀĞ ƉƌŽǀĞŶ ƐƚƌĂƚĞŐŝĞƐ LJŽƵ ĐĂŶ ŝŵƉůĞŵĞŶƚ ƚŽ ƋƵŝĐŬůLJ ŝŵƉƌŽǀĞ ƐĂůĞƐ ŐƌŽǁƚŚ ĂŶĚ ŝŶĐƌĞĂƐĞ ƚŚĞ ǀĂůƵĞ ŽĨ LJŽƵƌ ďƵƐŝŶĞƐƐ
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ϭ͘ &ŽĐƵƐ ŽŶ EŝĐŚĞ DĂƌŬĞƚƐ Ͳ ^ĞůůŝŶŐ ĞǀĞƌLJƚŚŝŶŐ ƚŽ ϰ͘ ŝīĞƌĞŶƟĂƚĞ zŽƵƌƐĞůĨ Ͳ ^ŝŵŝůĂƌ ƚŽ ƐĞůůŝŶŐ . Focus on Niche Markets incentives to increase volume, unique and different than others ĞǀĞƌLJŽŶĞ ŝŶ Ă ŵĂũŽƌ ŵĂƌŬĞƚ ĐĂŶ ďůƵƌ LJŽƵƌ ŝŵĂŐĞ ƉƌŽƉƌŝĞƚĂƌLJ ƉƌŽĚƵĐƚƐ͕ LJŽƵ ĐĂŶ ƐĞůů ŵŽƌĞ Ăƚ Ă - Selling everything to but keep them small with a on the market. Even if you sell ĂŶĚ ŝƐ ǀĞƌLJ ĐŽŵƉĞƟƟǀĞ͘ /ŶƐƚĞĂĚ͕ ƉŽƐŝƟŽŶ LJŽƵƌƐĞůĨ ŚŝŐŚĞƌ ƉƌŝĐĞ ŝĨ LJŽƵƌ ĐƵƐƚŽŵĞƌ ƉĞƌĐĞŝǀĞƐ LJŽƵƌ everyone in a major time limit. Stand strong on the products that are not proprietary, ĂƐ Ă ŵĂƌŬĞƚ ůĞĂĚĞƌ ŝŶ Ă ŶŝĐŚĞ ŵĂƌŬĞƚ͘ EŝĐŚĞ ƉƌŽĚƵĐƚƐ ĂŶĚ ƐĞƌǀŝĐĞƐ ĂƌĞ ƵŶŝƋƵĞ ĂŶĚ ĚŝīĞƌĞŶƚ market can blur your image and value your offering provides you must show your customers ƐƉĞĐŝĂůŝƐƚƐ ĨŽĐƵƐ ŽŶ ƐƉĞĐŝĮĐ ŝŶĚƵƐƚƌŝĞƐ Žƌ ƚLJƉĞ ŽĨ ƚŚĂŶ ŽƚŚĞƌƐ ŽŶ ƚŚĞ ŵĂƌŬĞƚ͘ ǀĞŶ ŝĨ LJŽƵ ƐĞůů is ĐƵƐƚŽŵĞƌƐ͘ ĂƐĞĚ ŽŶ ƉƌĞǀŝŽƵƐ ƐĂůĞƐ ŚŝƐƚŽƌLJ͕ ƉŝĐŬ very competitive. Instead, and stick with the original what makes you different than ƉƌŽĚƵĐƚƐ ƚŚĂƚ ĂƌĞ ŶŽƚ ƉƌŽƉƌŝĞƚĂƌLJ͕ LJŽƵ ŵƵƐƚ ƐŚŽǁ position yourself as a market price. Do not discount pricing everyone else. When you do Ă ŶŝĐŚĞ ŵĂƌŬĞƚ ƚŚĂƚ ĚƌŝǀĞƐ LJŽƵƌ ŐƌĞĂƚĞƐƚ ƐĂůĞƐ͕ LJŽƵƌ ĐƵƐƚŽŵĞƌƐ ǁŚĂƚ ŵĂŬĞƐ LJŽƵ ĚŝīĞƌĞŶƚ ƚŚĂŶ leader in a niche market. Niche on your offerings if they truly this successfully, you become ƉƌŽĮƚĂďŝůŝƚLJ ĂŶĚ ƋƵŝĐŬĞƐƚ ƐĂůĞƐ ĐLJĐůĞ͘ &ŽĐƵƐ LJŽƵƌ ĞǀĞƌLJŽŶĞ ĞůƐĞ͘ tŚĞŶ LJŽƵ ĚŽ ƚŚŝƐ ƐƵĐĐĞƐƐĨƵůůLJ͕ specialists focus on specific provide the value described. the best choice and selling at a ĞīŽƌƚƐ ŽŶ ƚŚĞ ƉƌŽǀĞŶ ŶŝĐŚĞ ŵĂƌŬĞƚ ĂŶĚ ƚŚŝƐ ǁŝůů LJŽƵ ďĞĐŽŵĞ ƚŚĞ ďĞƐƚ ĐŚŽŝĐĞ ĂŶĚ ƐĞůůŝŶŐ Ăƚ Ă industries or type of customers. higher price will not be an issue. ĚƌŝǀĞ ƐĂůĞƐ ŐƌŽǁƚŚ ǁŝƚŚ ƚŚĞ ůĞĂƐƚ ĂŵŽƵŶƚ ŽĨ ŚŝŐŚĞƌ ƉƌŝĐĞ ǁŝůů ŶŽƚ ďĞ ĂŶ ŝƐƐƵĞ͘ Based ĞīŽƌƚ͘ on previous sales history, pick a niche market . Sell Proprietary R Ͳ dŚĞ ďĞƐƚ that drives your greatest sales, ƌŝǀĞ ĚƌĂŵĂƟĐ Products Unique . Get Rid of Ϯ͘ ZĞƉĂĐŬĂŐĞ zŽƵƌ KīĞƌŝŶŐƐ Ͳ ǁĂLJ ƚŽ ĚƌĂŵĂƟĐĂůůLJ ůŽǁĞƌ LJŽƵƌ ĐŽƐƚƐ ĂŶĚ profitability and quickest sales design, functionality and Underperformers - The ƐĂůĞƐ ŐƌŽǁƚŚ ďLJ ƌĞŝŶǀĞŶƟŶŐ ǁŚĂƚ LJŽƵ ŽīĞƌ ŝŵƉƌŽǀĞ ƉƌŽĮƚĂďŝůŝƚLJ ŝƐ ƚŽ ŐĞƚ ƌŝĚ ŽĨ Ăůů LJŽƵƌ cycle. Focus your efforts on technology can make your best way to dramatically ĐƵƐƚŽŵĞƌƐ ŝŶ Ă ŵĂŶŶĞƌ ƚŚĂƚ ŝŶĐƌĞĂƐĞƐ ƐĂůĞƐ ƵŶĚĞƌƉĞƌĨŽƌŵĞƌƐ͘ ǀĂůƵĂƚĞ Ăůů ŽĨ LJŽƵƌ ƉƌŽĚƵĐƚƐ theǀŽůƵŵĞ ĂŶĚ ƉƌŽĮƚĂďŝůŝƚLJ͘ ŝŐŐĞƌ ƐĂůĞƐ ƌĞǀĞŶƵĞ proven niche market and products proprietary, which lower your costs and improve ĂŶĚ ƐĞƌǀŝĐĞƐ ĂŶĚ ƐŚĞůǀĞ ƚŚĞŵ ŝĨ ƚŚĞLJ ĂƌĞ this will drive sales growth profitability is to get rid of all can increase the desirability ĂŶĚ ƉƌŽĮƚĂďŝůŝƚLJ ĐŽŵĞƐ ĨƌŽŵ ďŝŐŐĞƌ ŽīĞƌŝŶŐƐ͘ ŶŽƚ ƉƌŽĮƚĂďůĞ Žƌ ŚĞůƉ ĚƌŝǀĞ ƐĂůĞƐ ŽĨ ŽƚŚĞƌ with the least amount of effort. of your products/services and your underperformers. Evaluate KīĞƌ ƐƵƉĞƌ ƐŝnjĞƐ͕ ǀŽůƵŵĞ ĚŝƐĐŽƵŶƚƐ͕ ĞdžƚĞŶĚĞĚ ŽīĞƌŝŶŐƐ͘ ^ƚŽƉ Ăůů ŵĂƌŬĞƟŶŐ ƚŚĂƚ ŝƐ ŶŽƚ ĚĞůŝǀĞƌŝŶŐ all of your products and services the price a buyer is willing ĐŽŶƚƌĂĐƚƐ Žƌ ƉƌŽĚƵĐƚ ďƵŶĚůĞƐ͘ dƌLJ ƐŵĂůů ͞ ĂƌůLJ Ă ƉŽƐŝƟǀĞ ƌĞƚƵƌŶ ŽŶ ŝŶǀĞƐƚŵĞŶƚ͘ zŽƵ ƐŚŽƵůĚ to pay. Proprietary products and shelve them if they are not ƵLJ͟ ŝŶĐĞŶƟǀĞƐ ƚŽ ŝŶĐƌĞĂƐĞ ǀŽůƵŵĞ͕ ďƵƚ ŬĞĞƉ ĂůƐŽ ĞǀĂůƵĂƚĞ LJŽƵƌ ƐĂůĞƐ ƚĞĂŵ ĂŶĚ ĞůŝŵŝŶĂƚĞ . Repackage Your offer protection from the profitable or help drive sales ƚŚĞŵ ƐŵĂůů ǁŝƚŚ Ă ƟŵĞ ůŝŵŝƚ͘ ^ƚĂŶĚ ƐƚƌŽŶŐ ŽŶ ƵŶĚĞƌƉĞƌĨŽƌŵĞƌƐ͘ dŚŝƐ ŝƐ Ă ƉĞƌĨĞĐƚ ƟŵĞ ƚŽ ďƵŝůĚ Ă Offerings Drive competition and enable you of other offerings. Stop all ƚŚĞ ǀĂůƵĞ LJŽƵƌ ŽīĞƌŝŶŐ ƉƌŽǀŝĚĞƐ ĂŶĚ ƐƟĐŬ ǁŝƚŚ ƐƚƌŽŶŐ ƚĞĂŵ ŽĨ ƚŽƉ ƉĞƌĨŽƌŵĞƌƐ͘ dramatic sales growth to sell your products at a marketing that is not delivering ƚŚĞ ŽƌŝŐŝŶĂů ƉƌŝĐĞ͘ Ž ŶŽƚ ĚŝƐĐŽƵŶƚ ƉƌŝĐŝŶŐ ŽŶ byLJŽƵƌ ŽīĞƌŝŶŐƐ ŝĨ ƚŚĞLJ ƚƌƵůLJ ƉƌŽǀŝĚĞ ƚŚĞ ǀĂůƵĞ reinventing what you offer higher price and profitability. a positive return on investment. ^ƚĂƌƟŶŐ ƚŽĚĂLJ͕ ůŽŽŬ Ăƚ ĐŚĂŶŐŝŶŐ ƚŚĞ ǁĂLJ LJŽƵ ĚŽ customers You should also evaluate ĚĞƐĐƌŝďĞĚ͘in a manner that increases sales volume and your business! sales team and eliminate ƚďď ƉŶŝůŶLJƚĐĂŶĚ ƉŶŝŵĞƐĐĨ Ő profitability. Bigger sales . Differentiate Yourself underperformers. This is a ƚďŝůLJĐŝĂŵĞĮĚ ĂŝƐ ĮƌůĨŝĐŵĐŐĚ ůĂŝ īĂ͘ƌ ĚĐďŶ revenue and profitability comes - Similar to selling perfect time to build a strong from bigger offerings. Offer proprietary products, you team of top performers. super sizes, volume discounts, can sell more at a higher price ĮĨƌ ƉŶĞůƌ Ă ŚďĚƌŶ ĞŽ ǀĞŵŵĞŝŐ ĮĐ ƉĂĚƵ ƟŶĐƉŶĞƌĮĂ extended contracts or product if your customer perceives Starting today, look at changing ŶĚ ƉŶĐƐďůĮŽ ĐŬƌŶ ƉŶĐĮƌůLJĐŝ ƚŶĐī ĮĨƌ ůĐīƉƌLJLJĐŝ bundles. Try small “Early Buy” your products and services are the way you do business!
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54 Dar Life I AUGUST 2021 ƉŶĞůƌ ĂŝƐ ƉŶĐǁĮĂŚĞŵĞĮĚƵ
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WŝĐƚƵƌĞ ŽƵƌƚĞƐLJ ŽĨ ϳ &ůŽŽƌ DĞĚŝĂ
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